Is it better to change dollars into Euros before I travel to the EU, or do you think I should just wait will I get to the country of destination and it will be a better deal there. ( As in fees and transaction percentages etc. extra cost, better rate.....)
Please share your experience with this..!
2007-12-12 07:21:12 · 3 answers · asked by Marissa 2 in Travel ➔ Europe (Continental) ➔ Other - Europe
Usually better to change before you go.
Check with your bank about their transaction fees for using the ATM; I usually just get a small amount of Euros for landing, and then get cash from an ATM.
2007-12-12 08:00:27 · answer #1 · answered by Anonymous · 1⤊ 0⤋
As said, before you go you change a little bit, say 2 days worth, and from then on you use your bank card to get money out of an ATM.
Using ATMs you get the best rate and how much charges you pay depends on your bank.
My bank does not charge cost at all.
If you use your credit card in an ATM you will mostly pay more, but again, ask your card company.
But do use your credit card to pay the higher bills, (again, check for transaction costs.)
MasterCard and Visa are the most used systems in Europe, American Express is less liked, because of the costs they charge the shop owners.
If you want to change a few dollars when in Europe, go to one of the exchange offices that does not charge a fee, but be aware that you will get a poor rate from them.
The banks and some exchange offices will charge a flat fee but will give you a better rate.
Do not use traveler cheques as you will pay to get them, sometimes pay to get your money and still pay the charges and get the poor rates.
And never change your money twice, that is, if you go to European countries which do not use Euros, change your dollars direct into their currency.
And take some of your own money with you, for emergencies, a couple of $20 notes will be very useful.
2007-12-12 17:09:52 · answer #2 · answered by Willeke 7 · 0⤊ 0⤋
I never get local currency before I leave the U.S. Major airports have ATM machines, so I just get some cash when I arrive. ATMs give you the commercial exchange rate which is more favorable than the retail rate charged by banks and money changers. Your card might charge you a 1-2% conversion fee but that's still less than the commissions charged by banks and money changers.
I stopped buying cash in advance and travelers checks 10 years ago. I haven't missed them yet.
2007-12-12 22:27:46 · answer #3 · answered by The Shadow 6 · 0⤊ 0⤋