Euros or U.S. Dollars

[Host Jazzbeau]

We'll be arriving in Budapest on Friday, and I'll be looking for the equivalent of an ATM at some point that day. BofA's global alliance keeps expanding but so far nothing in Hungary, so I'll have to eat the $5 plus 3% ATM fee.

 

You really need to get a Schwab debit card -- use any ATM in the world and no fees at all!

[jpalbny]

You really need to get a Schwab debit card -- use any ATM in the world and no fees at all!

 

Yeah, we do use lots of foreign ATMs and it does add up. There are ways to get these fees waived with BofA and eventually I'll get around to it...

[Wendy The Wanderer]

I didn't notice that Marlster, the OP, was from Canada.

 

By no means should they convert to US and then convert later to USD--they will be losing out twice. Our dollar is in rough shape, but it's better against the Euro, at least that's my feeling.

[SCHappilyRetired]

Doing a river cruise Amsterdam to Budapest. Do any of these countries accept USD or do you have to use euros?

Marlster

 

We only carry enough € for tips, small gifts and I purchase them before leaving. I got a $1.06 rate just a month ago. We never use debit cards, not even at home. Carry my Amex and Visa, both with no fees to us. While we were in Budapest they accepted €, at least the stores we made purchases at.

ENJOY your cruise!!!

[CPT Trips]

Where was that? Have seen them in Canada but not (yet) anywhere else. Got a chip ATM card recently though, so not worried when it does eventually happen.

 

Vernon, France . . . It only allowed card to be partially inserted, as the chip charge machines do.

[IsanTom]

With the exception of the EU, the dollar is the preferred currency around the world. Vietnam, Cambodia, and Laos actually prefer the dollar over their own!

[Mark_T]

With the exception of the EU, the dollar is the preferred currency around the world. Vietnam, Cambodia, and Laos actually prefer the dollar over their own!

 

... with the exception of the EU and many other countries that are quite happy with their own currency :)

 

Many tourist locations have grown accustomed to finding Americans carrying only US dollars and have adapted accordingly, that doesn't mean that you can walk into a normal shop or restaurant and expect them to happily take US dollars...

 

Cambodia is a true exception as they have adopted the US dollar fully alongside their own currency, their ATMs issue US Dollars as well. Vietnam much less so, tourist locations will take them but for safety you should carry Dong there if you plan to go outside the tourist areas.

[Floridiana]

In Laos, one of the hotel porters did not recognize the dollar bill my husband gave him. This may be different in touristy Luang Prabang.

 

If you get off the beaten path, there aren't even that many American tourists in Asia, Europe and lots of other places. I got the impression that most Americans and Canadians are on 2 week guided tours or they are young backpackers.

[Bodger]

Thank you, I do have a lot of american dollars on hand that is why I was asking, thanks. I will have to check into the credit card you are talking about, but I dont think we have such a thing.

Marlster

 

I keep getting advertising from Rogers (the folks that own the Blue Jays!) that they have a CC that does not charge a currency conversion fee. I have not seen another Canadian card that has this feature.

 

John

[Daisi]

Bodger, Rogers, and 2 other Chase cards (Marriot & Amazon) have no foreign transaction fees. I believe they are the only 3 Canadian ones. For debit, only BNS & Tangerine have no foreign fees. If anyone has any others, I would appreciate knowing.

[Host Jazzbeau]

I know the name sounds wrong, but does American Express offer cards in Canada? Some of their high-end cards do not have foreign transaction fees (but of course they do have annual fees).

[Daisi]

We do have Amex here (used to be a great Costco card!), however they don't have any that I can see with no transaction fee. One page I found (under their FAC page) it looks like they change the foreign $$ into US then to Canadian, but I didn't really look to closely as we no longer have and Amex.

[Host Jazzbeau]

We do have Amex here (used to be a great Costco card!), however they don't have any that I can see with no transaction fee. One page I found (under their FAC page) it looks like they change the foreign $$ into US then to Canadian, but I didn't really look to closely as we no longer have and Amex.

 

The only ones I'm aware of with no foreign transaction fee are the Amex Delta and the Amex Platinum.

[Solent Richard]

What do you think is a reasonable amount of euros to start with for our Amsterdam to Budapest cruise? I was thinking 200 (or about $220 US). Should we get more? We are going use an ATM at the airport.

 

Hi Kylie.

 

As someone who cruises a European river every year I would say you have got the amount just about right.

 

Also one of the joys of European ATMs is that they don't make a withdrawal charge. What you draw is what you see on your credit card statement.

 

And finally, the other joy is that there are ATMs everywhere so if you miss the one at the airport it's no big loss, there will be another one around the corner.

[Solent Richard]

The only ones I'm aware of with no foreign transaction fee are the Amex Delta and the Amex Platinum.

 

Fortunately we in the UK have a wide selection who do not make that charge while still using the 'Inter Bank' exchange rate.

 

My favourite for worldwide use is the Halifax Clarity closely followed by the Saga Platinum.

[Daisi]

The only ones I'm aware of with no foreign transaction fee are the Amex Delta and the Amex Platinum.

We don't have the Delta one, and I just checked the Platinum.... can't find anything to say if there are fees charged or not, but at $700.00/year fee, I think you would have to be doing a lot of foreign travel to make it worth it!

[Host Jazzbeau]

We don't have the Delta one, and I just checked the Platinum.... can't find anything to say if there are fees charged or not, but at $700.00/year fee, I think you would have to be doing a lot of foreign travel to make it worth it!

 

It's only $450 in the US, and you can make that back with $300 on a cruise and $200 reimbursement for airline fees -- but yes, it is designed for people who travel a lot. There are many benefits (free airport lounges, lots of reimbursement deals on their website).

[jpalbny]

It's only $450 in the US, and you can make that back with $300 on a cruise and $200 reimbursement for airline fees -- but yes, it is designed for people who travel a lot. There are many benefits (free airport lounges, lots of reimbursement deals on their website).

 

Yes, so far it has paid off for us. We have used the reimbursement benefit several times to cover the fees for FF tixs, which is really nice. And Global Entry is awesome.

 

Also their hotel program often gets you a $100 food and beverage credit, even for a one night stay. So that can add lots of value. You do have to stay in more expensive places, and the rate that includes those Amex benefits is generally higher than the lowest rate you can find, so we pick and choose when to do this.

 

For example, I paid the higher rate in Budapest so we wouldn't have to think about where to eat on Friday night, when we arrive after many hours of flying. Having a meal included is great, and the rate difference was minimal.

 

But in Munich I did not pay the higher rate to have a food credit at our hotel, because we plan to hit the Fruhlingsfest and graze there all day. So I went for a cheaper rate on the hotel's website.

 

Now, we have to figure out how to spend $300 of OBC on our cruise. We probably will take some of the optional excursions, but we'll need more details first.

Edited April 4, 2016 by jpalbny

[Kylie]

Hi Kylie.

 

As someone who cruises a European river every year I would say you have got the amount just about right.

 

Also one of the joys of European ATMs is that they don't make a withdrawal charge. What you draw is what you see on your credit card statement.

 

And finally, the other joy is that there are ATMs everywhere so if you miss the one at the airport it's no big loss, there will be another one around the corner.

 

Thanks! That's what I wanted to hear.

[Works for travel]

The following link is to a Currency Converter from FT.

http://www.ft.com/intl/markets/currencies

 

I am with the person who ordered currency from the bank. Most American banks have what they call the "World Wallet."

 

The benefit of the WW is you can ask for smaller bills. WW at Citi costs 5$ US.

Most ATM's charge 8 or more $ per transaction out of the continental US.

 

It's a hassle when you are picked up at the airport and the ATM only provided larger bills (e.g. a 20 or a 50 US)... and you want to tip the driver in local cash... it helps with bellhops too :)

 

I find it is very convenient to have some of the local currency before I arrive.

 

Citi charged me 5$US for all 3 currencies I requested... EUR, CZK (Czeck Rep) and HUF (Hungarian Forint) ... I only know this because my background is in the Foreign Exchange FX industry.

[TravelerThom]

My background is not in the foreign exchange industry, but my Charles Schwab ATM card has never charged me a Foreign Exchange Fee or an out of network fee. Many foreign ATMs will give you small bills if you ask for an odd amount, or you can buy a candy bar before leaving the airport.

 

Thom

[Hydrokitty]

Does Capital One market in Canada? I have their card, which has no annual fee and no foreign transaction fee...and very good help defending me against a slightly dishonest vendor.

[Daisi]

Yes, Hydrokitty, they do come up here, however they still charge a foreign transaction fee. We had one card with them for a while, however I got tired of the way they were when we wanted to go from one card to another in the same "perk" pkg. We aren't big spenders as we are trying to get rid of our stuff to downsize, so I'm not to worried about spending to much. Our memories will be in pics.

[Hydrokitty]

Yes, Hydrokitty, they do come up here, however they still charge a foreign transaction fee. We had one card with them for a while, however I got tired of the way they were when we wanted to go from one card to another in the same "perk" pkg. We aren't big spenders as we are trying to get rid of our stuff to downsize, so I'm not to worried about spending to much. Our memories will be in pics.

 

That's very interesting. You would think the same card would have the same "perks" in Canada. We don't spend that much either. I take lots of pictures and usually buy one "big" thing (cuckoo clock in Germany, watch in Switzerland, decanter and wine glasses in Venice) and the rest is magnets, Christmas tree ornaments and spices. I have a minimum balance on my Cap One because I don't do any banking with them so that does help to keep the spending in check! :D

[Daisi]

I think it may have something to do with our different banking laws. Chase is the one company that has all 3 cards that don't carry foreign transaction fees, so maybe it is a new thing that the others haven't caught up with. Amazon & Rogers are newish cards. I am wondering if the Christmas ornaments will be out in Sept....they are my one downfall, I'm not allowed alone in a Christmas store! :)