I am thinking of bringing cash with me in a secure zippered pocket inside my pants for my trip to southern Ireland. I am considering bringing both Euros and US Dollars. I want to pay cash for bed and breakfast stays and for most everything except buying from dept. stores or paying for Dublin hotel bills.
The exchange rate here is one US dollar equals 0.700 Euro. Would it be better to wait and use my debit card in Ireland to withdraw Euros from an ATM? There would be a 1% fee from my bank and the ATM or bank charge in Ireland. Would I get a better exchange rate if I took US Dollars and exchanged them in Dublin for Euros? I could also get a prepaid chip and pin credit card loaded with Euros before I leave home but would still incur ATM charges to take withdrawals. My Capital One credit card does not impose foreign transaction fees on purchases but does have a 3% cash advance fee in addition to ATM fees. What advice can anyone give me on the best options? Thanks for your help.
Posted by
Minneapolis, MN, USA
8700 posts
The best way to get cash in Europe is to go to an ATM affiliated with a bank. Bank ATMs do not charge any fees. The only fees you will pay are those imposed by your own bank. Private ATMs do charge fees. Read this helpful article by Rick Steves.
Posted by
Bloomington, IL, USA
9363 posts
ATM there - always. A preloaded card would not be a credit card, it would be a debit card, and you are right, it would probably incur charges. Except in an emergency, do not use your credit card for a cash advance.
Posted by
Boulder, Colorado, USA
35 posts
Bring a bit of cash in Euros, just in case something goes wrong with your card. I would never put full trust in those and you don't want to be stuck with absolutely nothing.
Posted by
St. Louis, MO USA
1976 posts
I always bring some local currency (euros, pounds) with me. I like not having to worry about finding an ATM for the first day of my trip. Don't bring dollars to exchange!!! You'll get a terrible rate. Bring them as an emergency backup if you want, and exchange them only as a last resort. Also don't casually use your credit card to get cash because the interest rate is sky-high. But do memorize the PIN of each credit card you bring, in case of emergency. You'll need it at an ATM. If you're out of money and have no other way of getting cash, get it with your credit card.
Posted by
Seattle, Washington, United States
284 posts
Another vote for your ATM card.
Posted by
OP
edmonds, wa, usa
22 posts
Thanks for all the tips and good advice.
I think I will take some Euros in cash with me, plus 3 credit cards for emergencies and maybe use for the Dublin hotels and some purchases, but will rely on my debit card to take out cash from ATMs and banks.
Posted by
Denver, Colorado, USA
713 posts
I don't know how much time is left before you leave. If you have time, you might ask a local credit union about their ATM/debit card fees, and if you like the answers, join the CU, put trip $$ into your checking account there, and get a debit card you can use on your trip. I belong to a credit union, let's call it "CU-B", that I joined years ago because it was affiliated with my then employer. I don't use it for my main checking account, however. Two years ago when planning a trip to the UK, I dropped by and asked the CU-B folks about their ATM fees when the card's used to withdraw foreign currency in a foreign country. The answer was, no conversion fees, and so I decided that would be my ATM card for my trip. I deposited more than enough cash in my checking account at CU-B for my expected trip needs, got a brand new ATM VISA (also debit) card, and told them the dates I'd be traveling. It all took maybe 20 minutes, in one visit. The sweet deal was, and I confirmed this when I got home and checked my account - I wasn't nibbled with fees. I paid no more fees using that card in the UK at ATMs than I'd have paid here in Denver. I did carry my ATM card for my main checking account (at another credit union entirely), as backup, but never had to use it on the trip. Besides the lack of extra fees, I liked the idea that the ATM card for CU-B didn't link to my main everyday checking account. Less exposure to catastrophic loss if the CU-B card were stolen or hacked than if my main checking ATM card were!