I'm going to Europe. Where is the best place to convert money?

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mithril

If at all possible, do it in your homeland. The rates might be a little better, but your chances of getting swindled at your own branch are pretty low.

The ATM will give you cash, but the computer takes out whatever it feels like in service charges and exchange rate. Don't count on an ATM being around every corner or having service to your bank or even being up and running. Never been to Europe, but I've discovered these snafus while travelling!

Get organized because locals can spot a tourist a mile away, and travellers are usually distracted and easy to rip off. Consider travellers cheques or any other precautions recommended by your home branch.

Have a great trip!

brucenjacobs

That depends on which country you are going to. For the most part, only convert a small amount at the airport when you arrive. You will get better rates either at banks or kiosks in the different cities. Do not convert currency at hotels, they screw you. You may want to get some travelers checks over her in Euros and then cash them as you need them overseas. Also, your best exchange rate is when you charge something on your credit card. Generally, you get the best rate and no exchange fees. Also, check the rates at ATM machines. If it is a branch of your bank it may be good. Some charge high fees.

cmhenshaw7

ATM. Always the ATM.

ATM or if you must carry money, the airport...

ATM, ATM, ATM. Call your bank and make sure your access code will work in Europe. Most ATM's in Europe work on 4 digit atm codes, so you need to call your bank and check about fees and conversions. Use credit cards to pay for what you can charge, they will have the best conversion fees. So call your credit cards. VISA automatically charges a conversion fee, but some credit card companies charge an additional fee on top of the standard 2-3% visa charges. So check with them, Capital One does not charge additional conversion fees. Going into banks, travel currency offices or American Express you do NOT get the best rates and pay up, so avoid at all costs. In short, call your bank ATM company and credit card company to understand their conversion rates, they will be cheaper than the other alternatives, so use ATM cash and charge when ever you can ;-). I have traveled a lot in Europe, so this is based on a lot of experience and consumer savvy.

Lisa P

I just used my debt card just like I do here. And ATM if I wanted paper money. I use wachovia and they didn't charge me anything for fees.

Beth

Convert a bit at the airport. Then, keep an eye out for the best conversion rates and exchange at those places. Not sure what the rates are these days, but you'll quickly get a feel for what is a good rate, and what's just ridiculous. Also, be sure you get enough on Friday to last you through the weekend, as conversion places open on weekends are few and far between.

daff73

I have been a few times and have figured it out, finally. Take a credit card and use that as much as possible (it will be hard to find places that accept them though), it will give the current rate exchange as it is ran. Secondly, get currency, if possible, before you leave the U.S.. Make sure you have about half of what you need total. The other half, have American money with you, then you exchange that at a bank. Everyone accepts US currency. Travelers Checks are a nice idea, but not always easy to get to use. A bank card is a great back up, but many banks will charge you for withdrawals from a different bank, both sides. When you are on your way home, than go to the airport and exchange out your Euro dollars back to your homeland currency. If you are from a small town or city, it is too hard to get someone who understands all that. Please listen to my advice you will thank me later!

knittinmama

ATMs. You will get a much better rate of exchange and you don't have to worry about carrying too much cash with you because you can take out what you need.

William T

Believe it or not, some institutions will give varying rates. Go to a few different banks in each neighborhood and ask what their conversion rate is and whether they can make a better exchange than a competitor. When I was in Spain, a certain bank in a university town would give better rates to international students than other institutions.

nanrai18

You should have a Visa card that you can use in the ATM machine. I used it in Hungary, Vienna,Spain and Italia and i loved it. DON'T bring American Travel checks or ANY travel checks. NOBODY wants to take them. Trust me,unless you'll go to the American Express office. Good luck!

izzy988

At a bank and NEVER at the AIRPORT.

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