Cash, Traveler's check, or Credit cards in Europe (continental)?

Question

I am going to spend 6 weeks in Europe.
Where can I exchange U.S. dollars for euroes at fair market price? Is using Traveler's Checkers better and cheaper than using credit cards issued by U.S. company? If so, should I buy Traveler's Checks in U.S. dollars or in Euroes? Where can I buy them? How does it work.
Thanks for any information and advice.

Answer 1

You don't want to carry large sums of cash overseas, or anywhere for that matter.

You can't exchange Dollars for Euros anywhere for a fair market price. Every exchange booth, hotel or bank is not going to give you the correct exchange rate. They will take between 5% and 10% of your money as a fee. The same goes for travelers checks, as you have to exchange them from dollars to Euros. Even if you get the checks in Euros, they will discount your dollars when exchanging them. You get screwed either way. On top of that, many places don't like dealing with travelers checks, you will have to put up with a lot of dirty looks when cashing them.

Credit cards are great and easy. however the company will charge you between 2% and 5% to convert your purchase from dollars to Euros when you get your statement.

The best method of getting cash overseas is your bank ATM card. If you go to a bank that has the same symbol as the one on the back of your card (almost all of them do), you will only be charged the fee from your home bank. The bank you are getting the money from doesn't charge you anything. Here is the best part, you will get the correct exchange rate too (no 10% off BS). I was in London last month and use the local banks four times to withdrawl 800GBP, I paid a total of $4.50. Like I said the best part was I got the correct exchange rate.

Answer 2

Visa or Master card is best,and a bit of cash.If you buy
Traveller checks,your local bank would be the place to go to.
Buy in Euros,you get a better rate.