RFI: Purchasing Euros For Vacation Beforehand

[SD]

The wife is traveling to Europe, need to get her about 300 euros for pocket change. Could use advice on the best way to obtain this currency before she departs? thanks

[OlongJohnson]

I used to travel over there for work quite a bit.

Make sure you have a credit card that's friendly to international transactions, and use it for anything reputable (hotels, etc.).

Make sure your bank won't screw you with charges, and use an ATM to withdraw cash as soon as you get out of the airport. That will give you the best exchange rate with essentially zero hassle.

[scw2]

I believe Charles Schwab bank allows free international withdrawals which is what I used in the past to withdraw some hard currency from ATMs in conjunction with a good intl travel credit card (soemthing with no forex fees and good travel protection benefits). Not sure if they have minimums or fees these days.

[shootist26]

Just use your debit card at any bank atm. You get the best rate this way.

Try to use an atm inside an actual branch if possible. There are a lot of machines on street corners but in heavily touristy areas there is an increased risk of getting your pin swiped, bag stolen while you're distracted, etc.

Any money changing places especially at the airport will rape you with fees.

Just check what your banks international debit withdrawal fees are. I use capital one 360 which has zero foreign withdrawal or atm fees

[Grey]

I spent a week in Europe and I used cash because I intentionally tried to use cash, you don't need it. Everyone takes a CC there.

[YVK]

I get mine either in my local bank, or at exchange places when I get there. I find that the hotel personnel usually knows where the best local rates are. Most of my purchases over there are done with Capital One Visa that doesn't charge foreign transaction fees. I don't buy a lot of their currency, just for occasional use. Almost everything is card-wired but some places and services still like cash. Cabbies, small tips here and there, street markets etc.

[BehindBlueI's]

Always use my ATM card once I get there, and keep 100 Euro for next time.

[fatdog]

I go to my local bank and order it, they deliver it to the branch in about a week and its in my pocket before I board the plane. It avoids getting gouged by the money changing vendors as there is no fee (for me at least) and I get it at the exchange rate of the date of my order. Going to the local ATM upon landing is also a good option but I am always afraid of card related goof ups so I get it ahead of time.

[Poconnor]

I just hit the ATM in the airport. Then I just use the cash. It’s an easy way to budget for me and I feel better not using my card too often. I use a fosters coin sap for coins. Often then restrooms charge a Euro or two.

[UNM1136]

While the ATM, after some research, is a solid way to go, using your bank or credit union to order money before your trip can really flatten out currency fluctuations. Many times your bank or credit union will not charge you for the purchase of foreign cash through them as part of your existing relationship. You can also dollar cost average over a few month to flatten the fluctuations. Each time period (week, month, quarter) you purchase X dollars worth currency to knock the peaks and valleys out of the value of the currency. You also can sit like a sniper and wait for maximum valuation of the currency. But like day trading you run the risk of being wrong in buying at the top, or bottom of the currency market.

Either is preferable to being ripped off at the airport, host country banks, or local money changers.

pat

[txdpd]

It’s been a while but I got Euros through my local bank branch for a 1.5 or 2% or so transaction fee, I wasn't much. I'd want to have some cash on hand just in case the ATM doesn't work, stranger things have happened than a US card being passed in Europe and an automated fraud system locking out the card.

[BehindBlueI's]

Don't forget to notify your bank you are traveling abroad ahead of time. They might shut your card off for suspicious activity, otherwise.

[SD]

Some very good advice, thanks. Always try to have some local coin in pocket upon arrival, tried one of our banks and they just use a money service and pass the cost along.

[Coyotesfan97]

When I went to Alaska with my daughter I tried to get some Canadian Dollars through my credit union. I ended up going to a B of A branch for them.

[RoyGBiv]

Debit card Airport ATM.

Easiest and cheapest. Especially if your bank doesn't charge any foreign transaction fees.

Check the network names on the card itself. Go to their websites and look up their free ATM locations at the destination.

Even if you have to pay 5 bucks for an ATM fee, it's worth not having to hassle with finding euros before you go.

/Thread