Wife and I are staring our honeymoon in Vienna. Paying cash for pension in Vienna and Venice so I'm wondering where I should exchange currency. Right now my local banks are offering 1.45 USD for 1 Euro and a 5$ fee for the service. Has anyone recently exchanged currency in Vienna. I've heard you get a better exchange rate in Europe but I can't find any numbers. Thanks, John.
Posted by
Bloomington, IL, USA
9363 posts
Wait till you get to Vienna. You will get a better rate.
Posted by
OP
Lafayette, Indiana, USA
3 posts
Where in Europe would you recommend? Bank?
Posted by
Minneapolis, MN, USA
8700 posts
If you want to take care of everything in advance, open an account with www.xe.com/fx and have a bank draft in euros mailed directly to each pension. For security reasons, it takes a little time and effort for the initial set up, but transactions go swiftly after that. Money is taken from your checking account by electronic transfer and the exchange rate is only slightly higher than the international rate on the day the transaction is initiated. There are no other fees. You also can have xe.com/fx do a wire transfer if you're in a hurry, but it will cost more.
Posted by
Honolulu/Seattle, HI/WA, USA
2788 posts
Offical exchange rate as of 1930 hours 8 Aug 07:
1.3800 $/E (per internet financial network) - at the rate you were quoted, I wouldn't buy too many.
Posted by
Portlandia
3313 posts
Just get cash from any ATM once you're there. If it would make you more comfortable to have something in your pocket when you arrive get 50 Euro from your bank.
By the way, let your bank know that you'll be traveling in Europe so they don't think there's fraudulent use.
There's lots of discussion here about using ATMs.
Posted by
OP
Lafayette, Indiana, USA
3 posts
Thank you everyone for your replies. I think I'll exchange enough in the US to pay for the 1st night hotel charge and exchange the rest at a Vienna bank. My bank charges a 5% fee for the use of an ATM so I'm just bringing cash in my money belt.
Posted by
Redding, CA, USA
1568 posts
As you are clearing customs ask one of the agents where is an ATM machine.
Before you go notify your bank the countries your are visiting - your departure and return date. Request that they up your minimum withdrawal to 700-1,000 USD per day. That way you only have to use the ATM every few days.
Make sure your PIN # is 4 digit (#'s only) and does not start with a zero.
We spent 8 weeks and used only the ATM's.