Using ATM's in Europe, taking out large amounts? How much to bring on plane?

[FLACRUISER99]

I didn't see anyone mentioning that most bank machine ( at least the ones I've delt with), in Europe only have numbers on their keypad, no : "2 ABC" , "3 - DEF" etc so if you have remembered your password as a "word" it won't help you when you need to recall what letters go with which numbers....

If this happens again just look at your cell phone.

[bethaniesmom]

got all our Euros before our trip at our local auto club. if we paid a little in transaction fees it was for my peace of mind. i did not have to worry about credit card fraud or theft in Europe, or locating ATMs or cashing travelers checks. we divided the Euros between the three that were traveling and promptly locked our cash in our cabin safe when we got on board. we never left the ship with more than we would need for the day and one credit card in case of an unforseen expense. we had a great trip, hope you do too!

 

Beverly

[jerseygirl3]

First you need to check and see how many Euros your particular bank allows you to take out of your ATM on a daily basis. When we were in Europe in October, BOA told me I could take up to $1,000/day out of my ATM (btw, taking out of your ATM is the least expensive way to get Euros).

 

Having said that, there are so many ATMs all over Europe, you can hit a couple of them each day. And don't worry about how much to take onboard the airplane with you. As soon as you land, there are usually ATM's right at the airport (they were readily available in Barcelona airport, and as soon as we got off the airplane, we got our first "installment" of Euros there.

 

Jo-Ann

[Dale]

Having said that, there are so many ATMs all over Europe, you can hit a couple of them each day. And don't worry about how much to take onboard the airplane with you. As soon as you land, there are usually ATM's right at the airport (they were readily available in Barcelona airport, and as soon as we got off the airplane, we got our first "installment" of Euros there.

 

Jo-Ann

 

Your right about the ATM’s at airports. It’s not uncommon for me for to have Euros in my pocket before I have my luggage.

[Wine-O]

Using an ATM in Europe can be very expensive. I used one in Luzerne, Switzerland and was charged $12.00 for one transaction. After that I changed my money here in the U.S. for a very nominal fee. Depending on how long you're staying there and what activities you plan, I would bring at least 750 Euros. You can always change them back to dollars when you return.

 

Maybe you were at a non-bank ATM. European Bank ATM's do not charge a fee. Zip, zero, nadda. I've been traveling to Europe for the past 20 years and never been charged an ATM fee from a European Bank.

 

Now, your own bank fees may apply. Every bank/credit union charges their own fees, so you need to check ahead of time the fees/transaction fees your particular bank charges.

[Wine-O]

Our last trip to Europe hubby got one of those refillable VISA cards that we put cash on-we were able to use the bank machines to get Euros out. We did have our credits cards with us-but overall we felt more comfortable using the refillable VISA. If someone got ahold of that card-they could only get the money that we had put on it-so much safer than using our debit card to our bank account-(I had a friend whose was stolen and they cleaned out her account including money for the house payment, utility bills, etc. that would have been taken out a few days later)or the hassle of a credit card being stolen.

 

There are two kinds of ATM cards. One you can use with a PIN, and one that can be used both with a PIN and as a VISA - swipe and sign.

 

On our ATM cards we disabled the VISA portion so the card could only be used with a PIN. We use that to get cash from an ATM machine. If we lost the card, it cannot be used without the PIN.

 

We use credit card for all purchases. If we lose the credit card, we could always dispute the charges. If we lost the VISA ATM card, someone could use it to wipe out our checking account.

[sarafinadh]

Our last trip to Europe hubby got one of those refillable VISA cards that we put cash on-we were able to use the bank machines to get Euros out. We did have our credits cards with us-but overall we felt more comfortable using the refillable VISA. If someone got ahold of that card-they could only get the money that we had put on it-so much safer than using our debit card to our bank account-(I had a friend whose was stolen and they cleaned out her account including money for the house payment, utility bills, etc. that would have been taken out a few days later)or the hassle of a credit card being stolen.

This one good way to deal with such issues. Another is to open a temporary account for travel. Have atm cards (with 4 digit pins) for everyone who will need to use the account. Transfer the funds in that you plan on using. Do not have these atm cards linked to any other account. That way if the card gets trapped there will be a wall between the one account and all the rest.

 

When we discovered that we wanted additional funds while in Europe last summer it was simple to get online on the computer and log into our bank website and transfer funds from our regular accounts into the travel account.

 

Just had a conversation with Chase regarding the 4 digit pin business. Per Chase, their cards do not have pins since they do not have electronic chips that require them. The Chase cards will work fine in Europe as long as they are scanned like they do in the US. This is what Chase told me, not based on my experience.:)

 

Can anyone else confirm that they have taken NON chipped cards and not needed pins?

 

This sounds as if the bank was confused about the question they were answering... We needed a pin for EVERY atm machine. Perhaps they meant that when using the credit card function you don't need a pin?

[Tenn4ever]

I used to travel several time a year on business to europe.and a just got back a few months ago.

1. NO travlers check, many places either wont cash them of charge you a fee !!...And some that do may give you conterfit change !!!

 

2. carry in the local currency enough for one rt cab fare to the hotel or ship about 70 euros or 50 poinds Remember the commissions on cash and that on returning to the USA, only bank notes will get converted not coin... lots of euro change gets created fast. Use credit cards not debt because of security the debt card goes direct to your account. The dredit card has a 25 day safety built in. ( I got billed$ 4,000 for 3 day rental in Germany, on my credit card and stopped it. were it a debt card then money would be long gone and a fight to try to get it back

 

3. The ATM's in the airport/ banks are the best rate and safest. Never use one on the street too many crooks. Carry as little cash as possible Use the credit card... they are very widely accepted almost everywhere.

Your credit card is also safer than cash. A 3 week trip I will use less than $250 in cash.. The rest cards.

 

4. you will need no money on the plane.. they have all comverted to credit card sales on board.

 

5. Cash gives you nothing in return no points or miles... you are wasting valuable resources with nothing in return.

 

This is excellent advice and what we mostly used while we were in Ireland the last time. The only thing I would add is that you have to let your bank anc CC know the dates you will be traveling out of the country.

[Lsimon]

On daily withdrawal limits - keep in mind that you are limited both by the machine, the Europe bank, and your usa bank withdrawal limit. If you can only withdraw $300 in the US you're not going to be able to withdraw 300 Euros at once since that would be equal to around $400 or so.

 

Frankly, we've tried the ATM route and found it was a bit of a pain some times and didn't save us much, if any. We usually buy the minimum estimated amount of Euros we'll need on our trip from our local bank which charges no "fees" and a reasonable exchange rate. Then if we run out we start supplementing it with ATM withdrawals. We carry excess cash in hidden money-belt type wallets and only keep a reasonable amount of spending needs for the day in our pockets (we don't want to pull out the money belt in public).

 

Getting the Euros before we leave makes life so much easier.

[In Range]

Can anyone else confirm that they have taken NON chipped cards and not needed pins?

 

This sounds as if the bank was confused about the question they were answering... We needed a pin for EVERY atm machine. Perhaps they meant that when using the credit card function you don't need a pin?

Sorry I wasn't clear. I was asking Chase about credit cards, not ATM cards. I know I'll need to use a four digit pin for the ATM machines, but not for the Visa credit card.

[sarafinadh]

On daily withdrawal limits - keep in mind that you are limited both by the machine, the Europe bank, and your usa bank withdrawal limit. If you can only withdraw $300 in the US you're not going to be able to withdraw 300 Euros at once since that would be equal to around $400 or so.

Our bank adjusted the daily limit so that we could make much larger withdrawls. There are many ways to go about this, and we feel more comfortable not traveling with a large amounts of cash and only get enough for the next day or two.

 

Sorry I wasn't clear. I was asking Chase about credit cards, not ATM cards. I know I'll need to use a four digit pin for the ATM machines, but not for the Visa credit card.

OK, that's cool! Had me confused there for a minute ; -)

[PatriciaF]

I have used our Chase ATM card to get cash from ATMs in Spain, Italy, France, Czech Republic, and Germany. Only one problem--once--when WAMU was transitioning to Chase.

 

Have also used our Capital One CC in those countries without problem--and no need for a PIN.

 

However, the automatic ticket dispenser for the trains in France will only accept a chip and PIN CC. Small petrol stations, the same thing. Some cafes weren't happy about us using a non-chip and PIN CC--but accepted it.

 

I would recommend that you and your travelling companion take two different credit cards--we have individual Capital One credit cards that we use in Europe. If the worse happens, you lose your purse or wallet, at least someone has a card that can be used. Also, make copies of what ATM and CC you are taking and leave in your luggage and at home, so you can call and get the lose reported quickly.

[thamanrp]

If you have bank of America they don't charge any fee if you withdraw from these banks:

 

BNP Paribas - France

BNL Italia - Italy

Barclays - England

Deutsche Bank - Germany

 

etc.

 

See completed list on BofA site.

[Tenn4ever]

On daily withdrawal limits - keep in mind that you are limited both by the machine, the Europe bank, and your usa bank withdrawal limit. If you can only withdraw $300 in the US you're not going to be able to withdraw 300 Euros at once since that would be equal to around $400 or so.

 

Frankly, we've tried the ATM route and found it was a bit of a pain some times and didn't save us much, if any. We usually buy the minimum estimated amount of Euros we'll need on our trip from our local bank which charges no "fees" and a reasonable exchange rate. Then if we run out we start supplementing it with ATM withdrawals. We carry excess cash in hidden money-belt type wallets and only keep a reasonable amount of spending needs for the day in our pockets (we don't want to pull out the money belt in public).

 

Getting the Euros before we leave makes life so much easier.

 

I think we had a $500/day limit which equated to around to around 400 Euros at that time. So much for the exchange rate then :rolleyes: The poster was correct about the Chase CC. There was not a charge for using them which is what we did a lot. However, we stayed in all B&Bs and they gave us a much better rate if we paid in cash/Euros.:)

[NukeIT]

This one good way to deal with such issues. Another is to open a temporary account for travel. Have atm cards (with 4 digit pins) for everyone who will need to use the account. Transfer the funds in that you plan on using. Do not have these atm cards linked to any other account. That way if the card gets trapped there will be a wall between the one account and all the rest.

 

When we discovered that we wanted additional funds while in Europe last summer it was simple to get online on the computer and log into our bank website and transfer funds from our regular accounts into the travel account.

 

 

 

Can anyone else confirm that they have taken NON chipped cards and not needed pins?

 

This sounds as if the bank was confused about the question they were answering... We needed a pin for EVERY atm machine. Perhaps they meant that when using the credit card function you don't need a pin?

 

Sounds to me like they were talking about the smart-chip credit cards, that also need a pin number entered when used....

 

The funny thing is, Chase does have a smart chip card, but it is not all that common....

[Lois R]

Quote by Larry

"Getting the Euros before we leave makes life so much easier."

 

Echo...echo....echo......:D

 

I am leaving on Wednesday for my first cruise to the Med:)

I decided to get all my Euros from home....will still be taking credit

cards of course;) and I called CC companies already too.

I just wanted to have everything with me.....ATMS might be

available but I don't have to concern myself with finding one,

limits, etc...etc...etc...

[Wine-O]

Getting Euro ahead of time is OK if one doesn't mind paying the extra fees/exchange rate. It's all about what makes one feel warm & fuzzy. :)

[Lsimon]

Getting Euro ahead of time is OK if one doesn't mind paying the extra fees/exchange rate. It's all about what makes one feel warm & fuzzy. :)

 

I've found the rate isn't all that high. My bank doesn't charge any extra fees. The exchange rate they offer for buying Euros is roughly 5% over the current spot rates. That means that it will cost me about $65 for 1,000 worth of Euros. If you use an ATM or Credit card the rate you'll get will be anywhere from 1/2% to 1 1/2% over the spot rate. In addition depending on which card you have (bank and type) there are potential foreign service fees and ATM fees as well as a cash advance fee if you use a credit card in the ATM. Yes you can get around some or all of these if you get a certain card and go to a certain foreign bank's ATM - but I'm not sure all that extra effort is worth the $50, or so, you'd save on buying 1,000 Euros.

 

For those who's local bank isn't as easy to buy foreign currency as mine check out Wells Fargo foreign exchange online (click here). I read about them a year or so ago here on cruise critic but have never tried using them yet. Their rates seemed very reasonable and you pay for the currency with a credit card - and since they indicate it is processed as a normal transaction, and not a cash advance, there is no cash advance fee for your credit card and you'll even get your rewards points or miles if your card offers those. I intend to give these folks a try next time we take a trip to Europe if their rates are comparable to our bank (they were when I checked a year ago).

 

Wine-O: I do agree with your comment when you say "it's all about what makes you warm & fuzzy". In the end we should do whatever one feels most comfortable with. I just wanted to point out that taking cold hard cash is definitely an option and the facts about it.

[NYCcruiser86]

When I lived in Europe for a year I only used my US ATM card at the bank and never had a problem. The transaction fee was minimal (only about 10 cents) for each transaction so it was much more worth it than having my bank change actual currency. They work just like ATM's in the US where there's a maximum amount per transaction but usually no limit on the number of transactions you can do.

 

Enjoy Europe! :)

[momofmeg]

Quote by Larry

"Getting the Euros before we leave makes life so much easier."

 

Echo...echo....echo......:D

 

I am leaving on Wednesday for my first cruise to the Med:)

I decided to get all my Euros from home....will still be taking credit

cards of course;) and I called CC companies already too.

I just wanted to have everything with me.....ATMS might be

available but I don't have to concern myself with finding one,

limits, etc...etc...etc...

 

 

I am excited for you Lois-especially since I am following you 5 weeks later.

 

Lois, if I was on my own I would do it too-but hubby prefers the refillable VISA cash card-it will be his headache too-so no worries for me-he is the one to find a bank machine in the airport.

 

BTW we have a layover in London- 5 hours-I know I will want to buy something then. I guess hubby better get me a card also.

[Dale]

Getting Euro ahead of time is OK if one doesn't mind paying the extra fees/exchange rate. It's all about what makes one feel warm & fuzzy. :)

 

This what makes feel :D warm & fuzzy :D

 

I can only speak from my experiences. I never buy Euros before leaving home. My bank, ATM, is operated through my brokerage company. It doesn’t charge any fees, plus it removes any fees incurred by the other bank. I also receive the actual exchange rate at time of the transaction, there are no add-ons of any kind.

Like I stated in an earlier post, I often have Euros in my pocket before I have luggage, but in any case I have Euros before leaving airport.

[Shooraq]

This one good way to deal with such issues. Another is to open a temporary account for travel. Have atm cards (with 4 digit pins) for everyone who will need to use the account. Transfer the funds in that you plan on using. Do not have these atm cards linked to any other account. That way if the card gets trapped there will be a wall between the one account and all the rest.

 

When we discovered that we wanted additional funds while in Europe last summer it was simple to get online on the computer and log into our bank website and transfer funds from our regular accounts into the travel account.

 

 

 

Can anyone else confirm that they have taken NON chipped cards and not needed pins?

This sounds as if the bank was confused about the question they were answering... We needed a pin for EVERY atm machine. Perhaps they meant that when using the credit card function you don't need a pin?

 

I did exactly what you stated. Helps that I work at a bank. ;)

 

I opened a separate savings account to store the money I will use for Euros on my trip. I will use the wi-fi access to transfer money over to this account when needed. I have an ATM card to withdraw euros as I need it. This way, my checking accounts won't get hacked and I have peace of mind.

[Lsimon]

... I also receive the actual exchange rate at time of the transaction, there are no add-ons of any kind. ...

 

What leads you to believe that this is the case? Have you checked and if so what have you checked it against.

 

The fact is that there is no such thing as an actual exchange rate. The foreign exchange markets trade continuously and the price changes from second to second. Yes there is a rate quoted in the papers - but that is just a snapshot of the rates at a given point of time - and the rates change, sometimes in substantial amounts, throughout the day. Even if you were buying hundreds of thousands of Euros there is still a difference between the buy and sell price at a given moment. Essentially every bank and every financial institution adds a margin onto the rate that they're buying or selling Euros at to cover their overhead and operations at a minimum.

[Wine-O]

This what makes feel :D warm & fuzzy :D

 

I can only speak from my experiences. I never buy Euros before leaving home. My bank, ATM, is operated through my brokerage company. It doesn’t charge any fees, plus it removes any fees incurred by the other bank. I also receive the actual exchange rate at time of the transaction, there are no add-ons of any kind.

Like I stated in an earlier post, I often have Euros in my pocket before I have luggage, but in any case I have Euros before leaving airport.

 

I always wait to get my Euro when I arrive. In fact, there's a machine in Rome right by the luggage carousel before you exit into the Customs area.

 

Only once I arrive at CDG and the ATM was out of order. The taxi driver took credit cards, and he stopped on the way to my hotel at a bank ATM for me.

 

5% is too much for me as my bank gives me the interbank rate for the day of transaction and charges no ATM fees. My credit card charges the normal visa/mastercard 1% conversion fee, but I get 1 1/4% cash back at the end of the year, so it's a wash.

 

Again, it's all about that warm & fuzzy. :D

[Wine-O]

If you check rates for the day of transaction, it's pretty close.

 

http://www.oanda.com/currency/historical-rates/