Euro Conversion Questions

 

 

I'm now close to 70 and want whatever is most convenient, not necessarily the most cost effective. On my last Med cruise I purchased $50 in EURO and took $2000 in US $ with me, then converted it as needed in Rome, Athens and Corfu at local banks as we passed them.

 

You might want to rethink this plan. A 70 year old woman with $2000 cash is at risk anywhere. Also, then you are restricted to finding a bank, on weekdays, at business hours, in an unfamiliar town - this is convenient? ATMs are everywhere and open 24/7, and usually right in the port building. How easy and risk free, getting funds on an as needed basis.

This year, I took out €200 to supplement any change from childen's school trips and business trips.

All purchases are by debit/credit card.

Any additional cash is acquired via ATM.

 

Just a little story. I used a local ATM on a Friday night (after hours) to obtain funds from my checking account. The machine decided to hold my card and give me no money. I had to wait until the Credit Union opened on Monday morning to retrieve my card and get any cash. This was within 10 miles of my home. Can only imagine being in a Port in Europe and have the machine decide to do this.

 

This is one of my concerns.

Do you all really travel overseas with no Euros to start? You get off the plane and hopefully find an ATM in the airport to get cash immediately? I mean, you can't walk out of an airport to get a taxi or bus without Euros in your hand. That's why I want to get a small amount to start with - here at home - and then use an ATM once I'm at my destination.

I was recently listening to a recording about foreign travel from Bank of America. I could have sworn that they recommended that pins for debit cards should not start with a zero. Has anyone ever heard this? I can't find anything on their website about this yet I know this was in their recording.

This is one of my concerns.

 

Do you all really travel overseas with no Euros to start? You get off the plane and hopefully find an ATM in the airport to get cash immediately? I mean, you can't walk out of an airport to get a taxi or bus without Euros in your hand. That's why I want to get a small amount to start with - here at home - and then use an ATM once I'm at my destination.

 

I was recently listening to a recording about foreign travel from Bank of America. I could have sworn that they recommended that pins for debit cards should not start with a zero. Has anyone ever heard this? I can't find anything on their website about this yet I know this was in their recording.

It is easily possible to get into a taxi with no Euros and ask the driver to take you to a bancomat on the way to the hotel. Because I have had the experience of not having the bancomat in the airport work. But buses, no.

I'm now in the habit of taking a little "starter money" in the local currency if I can, to avoid stress. Then I pick up the rest at an ATM.

I have also read that PINs should not begin with zero, and others have reported that it's not a problem. Probably best to change yours before the trip if it begins with zero.

This is one of my concerns.

 

Do you all really travel overseas with no Euros to start? You get off the plane and hopefully find an ATM in the airport to get cash immediately? I mean, you can't walk out of an airport to get a taxi or bus without Euros in your hand. That's why I want to get a small amount to start with - here at home - and then use an ATM once I'm at my destination.

 

I was recently listening to a recording about foreign travel from Bank of America. I could have sworn that they recommended that pins for debit cards should not start with a zero. Has anyone ever heard this? I can't find anything on their website about this yet I know this was in their recording.

Truthfully it's been years since I haven't had a few euros leftover from previous travel to take with me on my next trip. I might (because I am compulsive) feel the need to have a few with me. On the other hand, I've traveled other places without any of their currency when I landed and never had any problems (Israel, Turkey, etc.) Even if there isn't an ATM, at worst pinch I could hit one of the money-change desks, of which there are always plenty, although their exchange rate isn't favorable.

As to the "zero" issue, I have a Wells Fargo debit card that I've used while traveling for years. My code starts with a zero; I never had any problem with it. Maybe it's a BOA issue....

Since 2012 I have only used the Wells Fargo card as a backup, however. I set up a Capital One online bank account that I use primarily. I use it only for travel and it has no foreign conversion fee and no ATM fee.

This is one of my concerns.

 

Do you all really travel overseas with no Euros to start? You get off the plane and hopefully find an ATM in the airport to get cash immediately? I mean, you can't walk out of an airport to get a taxi or bus without Euros in your hand. That's why I want to get a small amount to start with - here at home - and then use an ATM once I'm at my destination.

 

I was recently listening to a recording about foreign travel from Bank of America. I could have sworn that they recommended that pins for debit cards should not start with a zero. Has anyone ever heard this? I can't find anything on their website about this yet I know this was in their recording.

Yep. Every time.

You make it sound like ATM's are some rare thing only found in the US. The are freaking everywhere.

You can't walk through a major European airport without walking by at least a handful of them.

Why do people insist on making this sooo difficult?

Yep. Every time.

 

You make it sound like ATM's are some rare thing only found in the US. The are freaking everywhere.

 

You can't walk through a major European airport without walking by at least a handful of them.

 

Why do people insist on making this sooo difficult?

I understand the fear people may have. We had it at one time also. But after many trips outside the US, we know it really isn't that difficult.

Yep. Every time.

 

You make it sound like ATM's are some rare thing only found in the US. The are freaking everywhere.

 

You can't walk through a major European airport without walking by at least a handful of them.

 

Why do people insist on making this sooo difficult?

It doesn't take many "interesting" experiences to make sure one always has a Plan B. And C and D for that matter! :)

We often visit places off the tourist track, and while there might be several bancomats to choose from, not all will necessarily accept foreign cards. Even different branches of the same bank might not all accept foreign cards, as each branch can choose whether to participate or not, at least in Italy.

We always make sure that we start with some Euros if possible, and get more money before we get down to zero, so that if the first, second or third bancomat we find doesn't want to play, we're not stuck.

The most recent memorable experience we had was driving across France and discovering that the toll booth wouldn't accept our credit card, (English, with chip and pin, not normally a problem) our debit card or €50 notes. We managed to scratch together enough small notes and change to pay, but now we make sure that we have a good supply of €20 and €10 notes when on a road trip. Is it any wonder that we try not to leave anything to chance?

Yep. Every time.

 

You make it sound like ATM's are some rare thing only found in the US. The are freaking everywhere.

 

You can't walk through a major European airport without walking by at least a handful of them.

 

Why do people insist on making this sooo difficult?

As much as they're "freaking everywhere", if I start out with some - but not all - of the Euro I need for my trip, I can possibly avoid:

- wandering around the airport with my luggage looking for an ATM taking time away from my start of my trip. (Last time in Barcelona's airport...I looked hard...no ATM that I saw - seriously)

- finding that airport ATM but only to find out it's out of cash/out of order/or a long enough line that again, taking time away from the start of my trip

- finding an ATM but it doesn't take my card for whatever reason

- asking a taxi driver to make a stop for me - adding to the rate I owe him, which now offsets the increased cost of just getting a bit of Euro

beforehand

- having to go to a currency exchange desk at the airport; paying non-optimal conversion fees which was the whole point of waiting until getting the Euros.

- a bit of cash in the pocket before hand is peace of mind

Stuff happens. God knows it happens to me often. Just trying to prepare a bit so that things start off as smooth as possible.

As much as they're "freaking everywhere", if I start out with some - but not all - of the Euro I need for my trip, I can possibly avoid:

 

- wandering around the airport with my luggage looking for an ATM taking time away from my start of my trip. (Last time in Barcelona's airport...I looked hard...no ATM that I saw - seriously)

- finding that airport ATM but only to find out it's out of cash/out of order/or a long enough line that again, taking time away from the start of my trip

- finding an ATM but it doesn't take my card for whatever reason

- asking a taxi driver to make a stop for me - adding to the rate I owe him, which now offsets the increased cost of just getting a bit of Euro

beforehand

- having to go to a currency exchange desk at the airport; paying non-optimal conversion fees which was the whole point of waiting until getting the Euros.

- a bit of cash in the pocket before hand is peace of mind

 

Stuff happens. God knows it happens to me often. Just trying to prepare a bit so that things start off as smooth as possible.

Most airport websites offer either a map showing ATM locations or a listing of them. It's a good idea to look it up before you go and be prepared.

Here's one showing a listing of all the ATM machines in the Barcelona airport, for example:

http://www.aena-aeropuertos.es/csee/Satellite/Aeropuerto-Barcelona/en/Page/1045569607399//ATMs.html#ATMs

The exchange rate in June in Italy was 1.36. We find using ATMs in Europe saves us about 5-6%, when you consider all the fees possible exchanging here in the States.

 

European ATMs don't charge fees. Only your home bank does.

 

European ATMs are the best way to go.

I'm confused as I too, never use an ATM card. My local bank does offer a card which does not charge a fee for withdrawals but the rep did say that the bank owning the ATM could charge a fee.

So European ATMs do not charge any type of fee to use them? And how do you know what the rate is? Do they vary that much?

Thanks cruisemom42, that listing came in handy.

Sheal

 

I have also read that PINs should not begin with zero, and others have reported that it's not a problem. Probably best to change yours before the trip if it begins with zero.

Bank of America never told me this particular thing, but I did read in 2 different travel guides for Europe that you should think about changing your PIN before you leave if it is not 4 digits. Apparently there are some places in Europe that will only take a 4 digit pin, not a 6 digit pin. My Bank of America debit card has a 6 digit pin (my choice) so I'm going to change it for this trip.

If, by sterling credit card, you're referring to credit cards issued by Sterling Bank, there are additional fees . . .

 

There really is no free lunch...

 

Lew

By sterling I meant the currency - the pound sterling.

And there is a free lunch!

Stuart

I'm confused as I too, never use an ATM card. My local bank does offer a card which does not charge a fee for withdrawals but the rep did say that the bank owning the ATM could charge a fee.

 

So European ATMs do not charge any type of fee to use them? And how do you know what the rate is? Do they vary that much?

 

Thanks cruisemom42, that listing came in handy.

 

Sheal

The rate can vary daily, but the bank to bank rate that ATMs are using changes slowly, rarely more than a few hundredths of a cent daily.

European ATMs do not charge any fees. It is against EU law. What your bank told you may apply to other US banks, or perhaps other countries, but not members of the EU.

The rate can vary daily, but the bank to bank rate that ATMs are using changes slowly, rarely more than a few hundredths of a cent daily.

 

European ATMs do not charge any fees. It is against EU law. What your bank told you may apply to other US banks, or perhaps other countries, but not members of the EU.

As a side note, it is possible to find ATMs provided by independent companies rather than banks. I've seen some in petrol stations in the UK. These machines can charge for transactions, but they are required to tell you how much the charge is before you complete the transaction.

Thank you both. I will need to pay attention as the bank name/independent company name probably won't be one that I am familiar with.

Sheal

As an additional thought, retailers in Europe utilize the "chip" feature and, until the Target problem last Christmas, retailers in the U.S. were unwilling to absorb the cost of changing over. However, many card companies offer cards with chips, check and see if your card issuer does and, if so, request one. It's more secure. Retailers are beginning the changeover here but, it will take a year or two.

Just a thought.

As an additional thought, retailers in Europe utilize the "chip" feature and, until the Target problem last Christmas, retailers in the U.S. were unwilling to absorb the cost of changing over. However, many card companies offer cards with chips, check and see if your card issuer does and, if so, request one. It's more secure. Retailers are beginning the changeover here but, it will take a year or two.

 

Just a thought.

This doesn't really apply to ATM cards. US ATM cards have not had any issues I have heard of if they don't have a chip. I have used our standard US ATM card in Europe 15 times in the last 5 or 6 years without any difficulty.