When to exchange dollars for euros?

posted 3 years ago in Relationships
Post # 3
Member
3420 posts
Sugar bee
  • Wedding: July 2015

I would do it here. Get 500 euros worth, that way you can take some time to find your way around and get to a bank to exchanfor more currency 

Post # 4
Member
10384 posts
Sugar Beekeeper
  • Wedding: September 2010

Just get them out of the ATM once you are there using your ATM card. The bank always has better rates than currency exchange kiosks (seriously – those are a huge ripoff). We’ve done a ton of travel, and always found the foreign transaction fee from the bank to be the cheapest. Do you have a credit card with a chip? Would be worth looking into getting one – some places in Europe only accept that type, and they are non-standard here. I believe that Capital One has one – and they don’t chage foreign transaction fees! We always use Capital One when we travel because of that (usually it’s a 3-5% charge by most banks and credit cards when you use your card abroad).

 

Post # 5
Member
10384 posts
Sugar Beekeeper
  • Wedding: September 2010

@prettyinpink11:  You don’t actually need to exchange money (ever really – been to 32 countries and have never needed to do it). All you have to do is pull money from an ATM in the local currency.

Post # 6
Member
2419 posts
Buzzing bee
  • Wedding: May 2013

Don’t worry about exchanging dollars for euros. Use the ATM when you are there. That way you aren’t carrying unecessary amounts of cash around. You might want to get a modest amount of euros so you’ve enough to get a coffee while you look for an ATM but 30 euros is enough cash to arrive with. 

We’re not in the euro zone in the UK but I keep a small supply at home from European trips. Other than that, I use my bank card in their ATMs.

Post # 7
Member
518 posts
Busy bee
  • Wedding: May 2014

Whenever I travel abroad, I wait until I get there, and get money out of the ATM before I leave the airport….no need to actually ‘change’ money

Post # 8
Member
295 posts
Helper bee

From my experience it nice to have some before heading over. I went 2 years ago and exchange probably 500 worth of euro and pounds and I know I didn’t use it all while I was there. I would differently recommend bring a credit card. Also don’t waste your money on travelers checks they are not worth the hassle. 

Post # 9
Member
3420 posts
Sugar bee
  • Wedding: July 2015

@crayfish:  you get charged to pull the money though. I’ve also traveled abroad – it’s good to have some just in case 

Post # 10
Member
1305 posts
Bumble bee
  • Wedding: August 2012

Agree with PPs. Get money from ATMs or use credit cards in stores for bigger purchases.

Post # 11
Member
7075 posts
Busy Beekeeper
  • Wedding: August 2012

Also make sure you give your bank/credit card company a heads up that you will be out of the country.

Post # 12
Member
2368 posts
Buzzing bee
  • Wedding: June 2014

@Westwood:  + lots!!  Nothing’s worse than a locked card when you’re overseas because the bank thinks it’s stolen.

Also, in addition to bringing credit cards (I strongly suggest bringing both Amex and MC/Visa if you have them), check the withdrawal limit on your debit card per day.  The cash limit is usually much lower than the charge limit. 

Post # 13
Member
1678 posts
Bumble bee
  • Wedding: July 2012

I agree with the PPs; wait to get Euros from an ATM when you arrive.

Post # 14
Member
69 posts
Worker bee
  • Wedding: May 2013

+1 on what everyone else said.  You will get a better exchange rate just pulling money through the ATM’s there or using your CC.  It’s very hard to get a CC with a chip unless you’re a frequent traveler overseas.  We’ve never needed one either, only pay @ the pump gas stations require them.  Pretty much everyone accepts American swipe cards b/c there are so many American tourists there.  

Post # 15
Member
720 posts
Busy bee
  • Wedding: May 2015

Yes, ATM all the way! Take out large amounts and put it in the safe in your hotel, because most banks (depending on what country you’re going to) charge a ridiculous fee, but it’s still a better deal than using an exchange service.

Also, be careful about using your cards! My bank (Bank of America) also charges a fee every time you use the card internationally. My SO and I went to Ireland in July and we both visited the ATM 2 or 3 times (taking out a lot of cash each time) and found that to be the best, most effective way to do things. I don’t think either of us used our cards to pay for anything during the entire 10 day trip.

Post # 16
Member
177 posts
Blushing bee
  • Wedding: November 1999

I would exhange a small amount (about 100 euros or so) of money beforehand, just in case. Few years ago in Rome my dad had some troubles finding an ATM that accepted his card.

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