Does one get better exchange rates buying euros before departing on a journey or could one be luckier just withdrawing euros at the atm's in the country one is visiting? Sounds a stupid question ?
2007-04-21 07:16:07 · 5 answers · asked by andrew c 1 in Travel ➔ Europe (Continental) ➔ Other - Europe
ATM is the best and cheapest way to obtain Euros. The exchange rate is an international bank standard and is usually the best. As a bonus, European ATM machines to not charge a fee. However, your american bank will probably charge it's ATM out of network fee.
I've used ATM machines in almost every western European country if great results.
Typcially, I take out about $100 (76 Euros) or more at a time so I don't have to pay the fee frequently. Note that the current exchange rate is rather poor at $1.36 for each Euro.
Travelers checks are a good backup. Typicallt, travelers checks cost 1%. However, I am finding that they are being accepted less frequently with retailers. If you cash them at a bank in Europe, there may be a fee. So, it's a lose-lose situation.
Some credit cards are good for international travel. There are still a few that do not charge a fee for the transaction, and the exchange is similar to the bank exchange. There will be a hidden fee charged by Visa/Mastercard/Amex of about 1%. I use Captial One for a charge card.
Have a great trip!
2007-04-21 09:35:16 · answer #1 · answered by Pete 3 · 1⤊ 0⤋
Withdraw on ATM but only as much as you really need. Else, spend on credit card. ATM withdrawals in EU on cards issued by foreign banks attracts a stiff fee...often 3- 5 Euros.
2007-04-21 20:27:40 · answer #2 · answered by papars 6 · 0⤊ 0⤋
Not a stupid question - a good one! Withdrawing from your checking account via an ATM at your European destination is the best option.
Have a great trip!
2007-04-21 07:27:49 · answer #3 · answered by love2travel 7 · 0⤊ 0⤋
Actually the best and cheapest way, is for you to get Traveler checks (VISA or AMEX), go to a bank and do the exchange their.
Save $ on you ATM
2007-04-21 09:17:01 · answer #4 · answered by Servette 6 · 0⤊ 0⤋
would hit upon a link on the financial business enterprise of england internet site...there are distinctive costs for finding out to purchase Euros and merchandising them.....and distinctive bureau de exchange's fee distinctive costs....however the crucial banks would desire to offer the somewhat financial business enterprise fee.
2016-12-10 07:55:25 · answer #5 · answered by nations 4 · 0⤊ 0⤋