Thread: Currency exchange

We used ATM machines in London, Ireland, and Canada.

Very convenient and the fees were very low and the exchange rate reasonable.

Remember, you have to pay a fee for travelers checks too.

We always use our credit card for any big purchases and ATM for cash.

However, be aware that alot of foreign ATM's do not allow you to choose between a checking account and savings account like they do here in the U.S. (Don't know if that's the same in the UK.) So, for those U.S. citizens reading this, make sure you have money in your checking account.

I always carry my laptop or netbook when traveling, so I'll check my accounts every day to insure nothing funny is going on.

Pete

Would an ATM card that doubles as a debit card work in Europe or not? My bank gave me a do-it-all card for ATM transactions. It will never be used as a credit card outside the United States (I'm going to use my real credit card at gift shops), but I will take it if it will help me get money at any old ATM.

I read a list of terms people in different European countries use - for example, in England, ATMs are called cashpoints - so you all know what to say when asking people where to get cash. I forget the other words because they are not English.

Just wondering, is a ruble like a dollar?

Originally Posted by Smart Traveler

Would an ATM card that doubles as a debit card work in Europe or not? My bank gave me a do-it-all card for ATM transactions. It will never be used as a credit card outside the United States (I'm going to use my real credit card at gift shops), but I will take it if it will help me get money at any old ATM.

I read a list of terms people in different European countries use - for example, in England, ATMs are called cashpoints - so you all know what to say when asking people where to get cash. I forget the other words because they are not English.

Just wondering, is a ruble like a dollar?

Everywhere we went in Europe, including England, we never had any problems locating an ATM. Everyone knew what we wanted and they are located everywhere we went.

Pete

Firstly Pete ATM is becoming common now in Europe; the common name in the UK is Hole in the Wall.

When we travel we have to inform the card company of all the Countries we are visiting. Our next cruise we will be using five different currencies, will get small amounts of local currencies before we depart if we need more will use ATM’s.

Unless card companies are told your card is useless, this is for your own protection.

Travellers cheques can be a nuisance, we stopped using them when we couldn’t find a bank that wanted to deal with them once in Europe.

Also we have mobile phones not cell phones. (off topic)

I"ve actually seen places with signs that traveler's checks are not allowed. Use to be everyone accepted them - now it seems they are not as popular. Guess credit cards are easier.

But you're right - you do have to notify your credit card/debit card company as to where you'll be traveling otherwise there may be problems when you try to use them outside of your native country.

And as I mentioned in another post, if you plan to use ATM's, you need to make sure your money is in your checking account and not in your savings account. While in the U.S. you can select whether you want to withdraw your money from either accounts, in Europe you do not have that option - you can only withdraw money from your checking account.

And lastly, if you have a couple of different credit cards, check with each of them to see who will charge the smallest fee and who will provide the best conversion rate. Some are better than others, so it can pay you to verify this information.

Pete