recent ATM users

[time4me2fly]

If you recently used an ATM machine in Europe...what fees did you incur and what was the exchange rate?

 

Example: You took out 500 euros...How much did it cost in USD?

[time4me2fly]

Wondering if you save money by buying euros from bank in U.S. to avoid ATM fees overseas. Is the euro to dollar conversion higher, lower or the same overseas?

[cruisemom42]

May I recommend this thread, which probably gives you more info than you could ever want about the various ways to obtain euros and which are better:

 

http://boards.cruisecritic.com/showthread.php?t=939182

[frogfuzz]

I think you need to ask your bank.

 

My "bank guy" mentioned that they started charging I think 2% on each trasaction. I still have some time to go so going to investigate some more. I am thinking a litte E. a few travelers checks, couple charge cards and atm. Spread the wealth :)

 

Just be sure to let you bank & cc company know you will be out of the country so they don't cut you off thinking illegal activity

[whogo]

This excellent link lists the rates charged by a number of cards: http://flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange

 

The rates are compared against the benchmark interbank rate as shown at http://www.oanda.com or http://www.xe.com .

 

I have a Capital One credit card and lucked into a debit card which does not mark up for foreign exchange. My purchases and ATM withdrawals in London last October were within one tenth of one percent of the interbank rate for that day as shown at http://www.oanda.com/convert/fxhistory

 

If you know the mark up your bank charges, you can look at what a Visa Card transaction tomorrow would cost here http://www.corporate.visa.com/pd/consumer_services/consumer_ex_rates.jsp

[moyaroo]

I think you need to ask your bank.

 

My "bank guy" mentioned that they started charging I think 2% on each trasaction. I still have some time to go so going to investigate some more. I am thinking a litte E. a few travelers checks, couple charge cards and atm.

 

Even with a 2% charge on the cc traveler's checks are a bad option in Europe as they normally are accept3ed only at banks and then at a horrible exchange rate (worst rate as preference is cash, cc/debit, tc)

[chipmaster]

If you recently used an ATM machine in Europe...what fees did you incur and what was the exchange rate?

 

Example: You took out 500 euros...How much did it cost in USD?

 

In 2008 when I went the exchanged was ~ 1.5 to 1.55, yes I couldn't have picked a worst time :mad:

 

I used my Fidelity ATM card, they swollow the fees for the first few transactions per month, it was 3 dollars but I got that credited back.

 

The rate was close enough to the published rate at the time that the fee was the biggest thing on the ~ 200 Euro withdraw.

 

You still get the best deal with ATM, I found few banks that changed for less then 1-2%, even if exchanging thousands of dollars. Travelers checks are a pain and don't save you anything as you still got to exchange them locally and the last thing you want to do is going to look for a bank on shore. NEVER exchange on the ship is that is as bad a rate as doing it at those kiosks in the airports.

 

Cheapest: ATM,

Next: Local bank

Worst: Kiosks, pursers desk etc.

[frogfuzz]

What I am using travellers checks for is paying for pre=arranged, approved tours.

[whogo]

Wondering if you save money by buying euros from bank in U.S. to avoid ATM fees overseas. Is the euro to dollar conversion higher, lower or the same overseas?

 

European bank ATM's do not charge fees, they are all assessed by your bank. Your bank will probably charge you more to buy euros in the US than to use your ATM card to withdraw euros overseas. If your banker is honest and knowledgeable he should tell you which costs less.

[nlt46]

We notified our ATM people that we would be in Europe and the various countries 3 weeks out. We had plenty of money in the bank. Yet, when we arrived in Barcelona... the ATM said our bank declined the transaction. We tried 2 more ATM's. We emailed the vice president of the bank... and he unlocked something and we were able to get money, but I did not like it when I thought that we might not have ready cash. Sure there were other ways. We could have gotten cash from the credit cards, but I really wanted the ATM to work. Which it did after a day. So, carry a contact with you in case you have the same problem we did. Nancy

[hcat]

We'll be taking some Euros with us--got them at Chase Bank when they dipped to 1.25 They have been higher recently...

 

We'll use ATMs in Europe--but will check each card just before we leave--some have fees, some none & some treat it like a cash advance (worst idea) & seems policies change alot these days!

[samavarcruiser]

More info

 

http://europeforvisitors.com/europe/articles/atm_conversion_fees.htm

[JPEvans]

Also something to remember, and it happened to me. My bank has a limit of how munch money you can withdraw in a single day. My bank is $400. When I did a Mediterranean cruise in 2007. I had no issues while I spent a couple days in Rome. At the train station waiting to get to the ship. I wanted to stock up on money so I tried to take out 400 euros. And I was declined. I started to panic, then I tried a lesser amount and it worked. I realized even though my bank has a limit of $400. When the bank does the exchange, it is actually more than $400, that was why it was declined. So remember the amount in Euros is not the same as dollars.

[nparmelee]

Even if you raise your bank limit, the Italian banks also have a limit of how much you can get out for each transaction.

[ddavis539]

Unfortunately, the dollar slipped against the Euro last week by a huge amount (the biggest weekly drop since 1985). It's now around 1.35 Dollar per Euro. When I was pricing things two weeks ago it was around 1.17. Hopefully it will get better over the next little while, but it's hard to predict.

[abuela vicki]

Does anyone know where an ATM machine is located at the Athens Airport?