What is THE BEST method of taking money to Europe??

Question

Do I exchange it over there? Take a debit card? Use a travellers check? Exchange it here?

Answer 1

I would recommend not carrying around too much cash. You never know when you could run into a mugger or other unseemly person. I would recommend using local ATM’s and withdrawing only a few days worth of cash. This way you will receive the best exchange rate and not have to worry about having a lot of cash if anything bad happens. Additionally I would recommend getting a money belt that you can carry your passport, debit cards, credit cards and some emergency cash say $100 American Dollars.

Have fun in Europe and if you haven't booked a vacation yet I would recommend going to the United Vacations website they have flights, hotels and possibly activities you could do while over in Europe and as everyone knows if you package your airfare with your hotel you receive a better rate. Also the site has a lot of information if your looking to do some research on where exaclty you want to go.

Check out this page for more info on Europe: http://www.unitedvacations.com/destinations/main.asp?Dest=0EU

Answer 2

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Answer 3

Personally I wouldn't bother with traveller's cheques in the Eurozone. These days they're a bit of an anachronism. They are a secure way of paying hotel bills but can be expensive and you can rarely just get them 'over the counter'. There are better ways of getting at your money. CASH The safest way if using real money, especially if you're touring, is to carry sufficient cash in your money belt for your daily spend, your next meal and any spontanious small purchases.Take what you need on a daily basis from a cashpoint. They're very common in Europe. DEBIT CARD Take one. Make sure that you use a Debit card for cash withdrawals and keep your Credit card (if you have one) for big purchases such as fuel and/or fares and hotel bills. All the banks (except one) will charge a fixed fee and a variable "commission" for withdrawals from a foreign cash machine; but that's better than risking losing all your cash or being mugged. The charge is made whenever you use a machine and there is an element of it which is a fixed ammount (about £2) regardless of how much you withdraw. So don't use machines more than once a day unless you have to, and never for very small ammounts. GOOD NEWS Open an account with the Nationwide Building Society and deposit enough money to cover your tour. Use their Debit card to take out money whenever you need it. All European cash points will accept a Nationwide card without any problem. They are the only financial institution that do not charge you a fixed fee for withdrawing your own money from a foreign cash machine. This could save you a huge amount of money. You'll still have to pay the exhange rate commission though - they all charge that. CREDIT CARDS Do not use a Credit Card at a cashpoint because Everyone charges at least an extra 1.5% for using a credit card at a cashpoint on top of the "commision" charge and the fixed withdrawal fee. This warning is worth repeating over and over again. Visa and Master are "almost" universally accepted in towns and villages. Other types of credit card are less commonly accepted. If you intend to use a Credit card for all your purchases then you may find that some places, especially smaller shops, cafes etc, don't accept them. This amazing situation is quite common in Europe; even in parts of Germany (one of the more money-savvy places) Credit Cards aren't as commonly accepted as they are in the UK. On the plus side - credit card purchases usually surpirse you with a slightly better exchange rate on your statement. On the minus side - the banks will wipe out the improved exchange rate with their charges; also, the exchange rate will be whatever applies when the shop submits your purchase for processing. This means that it could take two months to show up on your statement.

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Answer 4

The best method is not to take any with you. You should get your money in Europe with your ATM card, that way you get the correct exchange rate and least fees. The foreign bank will not charge you a fee to withdrawal money if it's part of the same system, and they all are. Your bank will only charge you about a dollar or two to get the money overseas. You also get 100% of the correct exchange rate. Any other method will cost you more money in the short and long run.

Travelers check are very old school, I'm surpised they even make them anymore. Not only do you have to buy them, but you get killed when cashing them. You have to convert your money into Euros (or Pounds) either when you buy them or cash them. Either way you will only get about 90% of the correct exchange rate. On top of that robbery, restruants and stores don't like to take them.

Whatever you do, do not take large sums of cash. Not only is it unsafe, but again you get killed when exchanging it for local money. The hotel or exhange booth will only give you about 90% of the value and then charge you a fee on top of that.

Answer 5

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Answer 6

Open a savings account with Capital One. Get a Capital One debit card. Take it to Europe. Unlike almost everyone else, Capital One doesn't ding you for 3% or more in added fees for foreign transactions. Take a Capitaol One credit card, too, and use it as much as possible instead of cash.

Don't bother with traveler's checks -- lots of places won't even take them any more. Most places, including the ubiquitous souvenir stands, take credit cards. I got three people through Italy for eight days with 250 Euros cash and the credit card, and was looking for ways to spend the cash.

Pickpocketing is, sadly, a major industry in Europe, so guard well whatever you take. Oh, and be sure to tell your credit card companies that you are going to Europe, so they don't think the charges are fraudulent and cut you off. We called Capital One ahead of time, and they were glad we did, because, they said, they would have cut off our card.

We just got back from Italy last week.

Answer 7

Call the hotel you will be staying at and ask if they have ATM machines near the Hotel that you can withdraw your cash from. Make sure you tell them that you want to withdraw from an American bank. Generally, you should be able to use a Visa or MasterCard (that's what they advertise) world-wide. I would take some travelers cheques (enough to buy a change of clothes, 2 days worth of meals, and one night's hotel fee. And exchange some of your money over here before you leave. Your local bank should be able to do it.

If you use traveler's cheques, make sure to keep the receipts separate from the cheques incase you lose them.

Answer 8

Take a debit card. You'll get, by far, the best exchange rate.

One caveat, however: If you bank with a smaller bank (any bank with offices in only one country), make sure your bank's fraud unit knows you're going, lest you have your card assumed stolen. It may be a good idea to buy time on a VOIP carrier such as Skype so you can call your home bank cheaply.

Answer 9

Use credit cards. I find that is the best way. Most EU countries take all the normal credit cards like Visa, MasterCard, American Express, Carte Blanc.

Get a small amount, e.g. 100 EU, for incidentals like taxi cabs, etc. The rest for hotel, restaurants, use credit cards.

Answer 10

I'd bring a major credit card and my ATM card. Most ATMs I've encounted in most of western Europe accepted them. They have PLUS network, which is pretty much standard. ]

Unfortuantely, the bank fees are a pain, but at least its handy.