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Where can I exchange dollars to euros and get the best exchange rate?

2007-09-18 05:20:49 · 2 answers · asked by LinLin 2 in Travel Europe (Continental) Other - Europe

2 answers

Check with your bank if your debit of bank card is ready for use aboard, and what it will cost.
Mostly it is the cheapest way to use one of those in an ATM (hole in the wall,) as the rates are best and the carges low or even free.
Credit cards often charge more for use in an ATM but can still be cheaper than changing your money at an exchange office or bank.
Check with your card company (mostly it is on the website) what using your card abroad costs, as in Europe there is mostly no charge for the use of your credit card in shops. MasterCard and Visa are most used, American Express is not much liked because it is much more expensive for the shop owners.

Exchange offices come with two systems, one kind does not charge a fee, the rates are poor, but for small amounts it is the better place, say up to $50.
The other charge a fee, one fee whatever amount you need to change. Most banks and most exchange offices work this way, use it when you want to change a bigger amount of $.

Traveler cheques are not much liked anymore, you need to pay to get them, you sometimes need to pay to get your money back and you still loose on the exchange rate. And only the bigger bank offices do still accept them, and some hotels but they charge you to get your money.

Do not travel with all your money cash, and spread the money and cards you do carry in different places on you and your luggage.
Like the big part in a money belt under your clothes, some in your pockets, a bit in your handbag, and an emergency amount in your big pack or suitcase.

It does not make a lot of difference whether you change your money at a big bank in the USA or at a bank in Europe, they both charge the same kind of fee and use the same exchange rates.
Your own bank might wave the fee, but do not count on that.

2007-09-18 07:28:53 · answer #1 · answered by Willeke 7 · 1 0

Almost certainly at your local high street bank. Banks and exchange bureaus at the airport will be worse and your hotel worse still.

Official exchange are quoted in many newspapers, or try one of the many on-line currency converter sites.

Try to avoid changing small amounts as there is often a minimum commission. try to avoid using credit cards abroad as again the charges can be high.

Ian M

2007-09-18 05:56:46 · answer #2 · answered by Ian M 6 · 0 0

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