Best way to get cash in Europe?

[schildi]

What do you guys do when traveling to Europe:
- Travelers checks
- exchange cash at your bank before you leave
- take $$$ and get Euros at a bank in Europe
- take a CC with you and get money at an ATM
- anything else?

Which way is the least expensive? What is safest? Most flexibility?
I have so far taken travelers checks, but I am not sure if this time I'll do it again ....

[illinicheme]

We generally change a small amount of cash at a currency exchange at the departure or arrival airport. We then get the bulk of our cash at ATMs using our normal ATM cards.

[Peace77]

We generally change a small amount of cash at a currency exchange at the departure or arrival airport. We then get the bulk of our cash at ATMs using our normal ATM cards.

This is what we did. Check with your bank or credit union to find out where compatible ATM machines are before you leave.

For one large purchase we wanted to use our rewards CC but it was not accepted. They did accept our debit card with MasterCard logo on it though.

[xia]

We usually take little cash with us (dollars) which we may or may not exchange locally but mainly just use local ATMs

[Deleted]

Feb 23, 2011 23:25:13 GMT -5 @illinicheme said:

We generally change a small amount of cash at a currency exchange at the departure or arrival airport. We then get the bulk of our cash at ATMs using our normal ATM cards.

Same here. Check on fees; we're with B of A and they add a $5 charge to each withdrawal in addition to a 1% converstion surcharge, so we made sure to minimize the number of withdrawals.

[nomngal]

MasterCard was widely accepted even through Hungary, Romania & Serbia. There were many exchange places in the larger cities that changed US & Canadian bills to Euros and local currencies. The biggest hassle we found was at a "post office" in France. Banks didn't do much in that area.

[chiver78]

I have B of A, they have "sister banks" around the world that do not charge fees for B of A ATM card use. I'll wait until I get to Europe to get cash, but I will bring whatever euros are left over from the previous trip. most places take MC/Visa, so you could always just use plastic and pay it off when you come home.

where are you going? have fun

[Deleted]

We take two ATM cards. Sometimes one will not work in an ATM machine and the other will.

[Small Biz Owner]

- take $$$ and get Euros at a bank in Europe

We supplement with ATM or credit cards. We have found that local currency is best when in smaller towns.

[Urban Chicago]

I usually call my credit card companies, and see who will charge me least for the country I'm in.
I seldom carry much cash, especially while traveling. In Europe, I had no problem paying for almost everything on my credit card. I do check my debit card too, so I know how much it will cost me if I do get cash.

[Gardening Grandma]

Feb 23, 2011 23:25:13 GMT -5 @illinicheme said:

We generally change a small amount of cash at a currency exchange at the departure or arrival airport. We then get the bulk of our cash at ATMs using our normal ATM cards.

This. To minimize fees, we withdraw the maximum daily allowance. We tend to carry more currency because we like to stay in B&B's which frequently do not accept CC's.

[schildi]

Hmm, thanks everybody! Very interesting, to say the least.
I will talk to our bank and CU to see what the deal is with using debit cards at ATM's overseas. A credit card should work also, correct? Just need to get a pin or something, right?
It sure looks like we will do something different this time. BTW, we do not need much cash, maybe $300 total or so, maybe even less. I get a few hundred Euros already as soon as we get there because my sister owes me (she wants a few special things that we buy here and take with us for her).

[chiver78]

CCs do work, but American Express and Discover are not widely accepted. another thing to note - make sure you have a card on you that is actually signed. if you write "see ID" like I do, you will have a lot more trouble with those.

[sesfw]

Thank you for asking the question. On our last trip to Europe, we used a Capital One credit card a lot. They do NOT charge a currency conversion fee! I have investigated the creation of a separate account with Capital One that has a debit card (Mastercard) and again, there are no fees for converting currency. Also, I have been advised that they will reimburse me up to $10 per month for ATM surcharges. Sounds like a deal to me.

[lynnerself]

We usually take a couple of credit cards and a couple of ATM cards, just so something will work. The first thing we did after getting off of the airplane or train is find an ATM. It is good to check on fees before you go to see which has the least charges. Last trip we found ATM cards working everywhere, like bus and train ticket kiosks etc.
But we were in Scandinavia, so we had like 5 different currencies!
Trying to estimate how much cash we would need was interesting. And we ended up looking for something to spend our last little bit of cash on (food, duty free) at the airports on the way out.

[schildi]

Feb 24, 2011 11:22:04 GMT -5 chiver78 said:

CCs do work, but American Express and Discover are not widely accepted. another thing to note - make sure you have a card on you that is actually signed. if you write "see ID" like I do, you will have a lot more trouble with those.

I would never write "see ID" in the signature panel. It makes your card invalid. If it is lost or stolen, and later found and sent to the CC company, you may be liable for any fraudulent charges, because you did not follow the instructions, and were actually walking around with an invalid CC in your wallet. There is really no need for you to try and protect the credit card company or merchant at your cost. I also don't want to show my ID to every store clerk. All they need to remember is

[schildi]

I am mainly looking for ways to get cash here, I am aware of the CC acceptance policies (and sometimes the lack thereof :-)) in Europe. I'll call the banks. My Fidelity Amex card with straight 2% cash back also does not charge a conversion fee for purchases.

Thanks everybody!

[The Walk of the Penguin Mich]

When we went to Turkey a couple years ago, we had a combination of cash, traveller's checks and the intention of using the ATM. I bank at USAA, so I can get up to 10 free withdrawals/mo. and it turned out that I never bothered even using my traveller's checks.

The one thing that I may caution you about is that many credit cards in Europe have a chip in them, which the US cards do not have. I read an article in that this is becoming a bigger issue for US travellers, and will continue to be so.

Finally, make sure you contact your financial institutions and let them know you'll be using your cards outside the US.

[Deleted]

Schildi,

Are you just going to be in Germany or traveling elsewhere? With BofA you can withdraw from Deutsche Bank without the $5.00 "Foreign ATM" charge in addtion to the 1% currency charge. And believe it or not it's cheaper for us to use our BofA Visa card than our Deutsche Bank ATM card for European currencies other than the Euro. Be careful about fees from non bank ATMs. The young German woman whom I tutor in English used an ATM to withdraw Euros from an ATM located in the main shopping district here in Bonn. Although it advertised her banking system it charged her a 10 Euro fee, and she's a local! Ouch!

In France, BofA's partner is BNP.

Good luck and have fun!

[stats45]

Another vote for B of A. I've traveled all around Europe, and B of A has a large number of banks where you don't have to pay any ATM fees or currency charges. You simply withdraw what you want in the currency (e.g. Euro's) and the current exchange rate amount in dollars is removed from your account.

It was BNP in France, Barclays in Spain and Portugal, DB in Germany. One of them also covered Italy; I can't remember which. For Eastern Europe or other places, I would go to a bank or just have some Euros that I pulled out somewhere else transferred into the local currency.

Have fun!

[april47]

Some banks want you to notify them in advance when traveling out of the country. Sometimes anything out of the ordinary triggers an alert and then your card may not work. At least that was what Wells Fargo told me and I did notify them that I would be traveling to Europe for a certain time frame.

[souldoubt]

In 2007 I went to Germany and Netherlands for a little over 2 weeks. Exchanged about $200 for euros before heading over. I think I took an additional $300 that I traded for euros while I was there but beyond that I would just use ATM's to get money. I think they charged me like 1% on top of the FX rate each time I took money out so it wasn't bad at all considering how convenient and easy it made things.

Edit - Definitely notify your bank and any credit card company whose card you are taking and planning on using. They'll note it on the account so it doesn't get flagged for fraud and you're stuck trying to call a bank while in Europe to prove you're really over there.

[bobosensei]

ATM- DH and I are paid in dollars, but we withdraw euro from the ATM when we are shopping on the economy. In many places credit cards aren't accepted at all or if they take cards it is just the european chipped debit card.

[sunuva]

Check for partners your bank has with banks in the areas of Europe you are traveling in. Partner banks (at least with my banking institution and partners) don't charge ATM fees. If there are no partners then you'll be paying transaction fees.

And many of the ATMs will dispense information as to the exchange rate used for crediting your account (it could very well be that the exchange rate is adjusted upwards slightly to account for transaction fees - but a transaction fee, itself, isn't charged).

And see if your bank/credit card is on the Cirrus system (Mastercard) or the Plus system (Visa) - that will also limit where you may or may not be able to use your debit or credit cards.

I suppose I should also mention that do a search on the Internet to see what banking options or banks exist in the part of Europe you'll be traveling - may be able to find it on tourist information sites or bank sites. I'm generally nervous about carrying a wad of cash with me and only do so when ATM/interbank networks are not available to me - otherwise I keep it to small amounts ($200) so if I am robbed it isn't necessarily devastating and just a nuisance.

[endofera]

If you are an AAA member, you can get foreign currency for free before you leave.

•Over 100 different currencies can be ordered at AAA and received the following business day.
•British Pounds, Mexican Pesos, Euro, and Canadian currency are also available in a convenient, small quantity called a Cash Pax.