I have to travel to Aarhus,Denmark(from USA) for 4 days. i am wondering where to get the money exchanged from USD into DKK so that i could roam around in Aarhus without any issues. i have 2 days at my disposal for roaming. Could anyone help me with where to get the money exchanged so that i could get a good exchange rate. i have only debit cards with me at the moment in US. i am thinking of having around $150 USD for 2 days converted into appropriate DKK for sightseeing purposes.

thank you,
Tarun

You can use credit/debit cards widely in Denmark, even for taxis. Otherwise just change some walking around money at an ATM. Don't change money at the airport!

thank you for your reply. Is it possible to use Debit Card (in USD) for payment of services in Denmark?as in, the debit card would be charged in USD or DKK converted into USD?
Also, at ATM,would i be able to get the currency conversion? I am inclined to believe that there would be some service charge for this kind of transactions.

Tarun

It's not the currency of the card but whether your bank is in the Visa or Mastercard system that determines acceptance. A lot of outlets in Denmark are affiliated. I believe it's always better to accept the charge in local currency (DKK) than an offer of a charge in USD since a poorer exchange rate will be applied.

Call your bank before you leave for details of the charges per transaction for goods or cash. You will always get a better rate for cards than changing at a forex bureau

When I was in Copenhagen last year, I couldn't find any normal restaurants that would take my US Mastercard. They all wanted ones with a chip in it, which mine did not have.

I'd hope that they have some ATMs that would take your card, but I didn't try. My hotel did accept a normal MC.

The airport exchange is a horrid rip off. I changed $100 US, and the place had a tiny text on their display about a transaction fee. So a big sign with a "No Commission", and then the transaction fee. I think it ended up costing me 10% or so total over normal interchange fees. I would have paid 2% if I had found an ATM instead. I was pretty tired, or otherwise I would have refused the transaction.

So, would the best idea would be to get the cash (in DKK) from an ATM? I have a Bank of America card and Wachovia Bank card (both VISA cards) with me which i am planning to use. However, none of them carry any chip, only a magnetic strip in back as usual. If i am correct, once I get down at Aarhus Tirustrup Airport in Denmark, i would then have to get the exchange done from an ATM.

I also have some cash off hand with me (in USD)which i am planning to take in case.

I would recommend using an ATM for cash but check with your bank before you go that your card is OK for use in Danish ATMs. All European cards have had a chip for some years as an extra security measure. If you take the airport bus from Tirstrup-Aarhus you may also be able to pay in USD if they won't take your card. Assuming you will transit Copenhagen Kastrup you can use an ATM there so you arrive with some DKK on hand

i had a chat with both of the banks i have my account in.
Bank of America information says:

1>>The International ATM usage fee is $5.00. This fee is assessed for each withdrawal, transfer or balance inquiry performed at a non-Bank of America ATM or non-Global ATM Alliance bank located in a foreign country.
2>>In addition to the ATM usage fee, Bank of America assesses an international transaction fee for Debit Card transactions in foreign currency or in U.S. dollars with foreign merchants in the amount of 3% of the U.S. dollar amount of the transaction and 1% for all ATM transactions processed in foreign currency. The fee is assessed as a separate transaction fee on the posting date of the purchase or withdrawal.

The Website also says this:
Use your ATM card or check card within our Global ATM Alliance in the countries shown with no fees.

* Barclays (United Kingdom)
* BNP Paribas (France)
* China Construction Bank (China)
* Deutsche Bank (Germany)
* Santander Serfin (Mexico)
* Scotiabank (Canada)
* Westpac (Australia and New Zealand)

So, if i use my card at these banks i could avoid the $5 transaction fee every time i hit an ATM. But the other charge will be levied. Unfortunately, i was not able to find any branches of these banks in Denmark (aarhus).
I am not able to understand the point no. 2 as to whether 1% or a 3% charge would be levied?
I was also contemplating to get some DKK (Danish currency) before i leave from Bank of America itself. Their currency converter gives a value of 1 USD=5.227 DKK as opposed to googling it which gives 1 USD=5.618 DKK. Do you think it is a good idea to take some currency beforehand or just use the card?


For Wachovia Bank:
It levies a flat 3% charge on all transactions irrespective of bank.


kindly advise!! i am a little confused.

My take: it's a bargain to knick your debit card abroad at an ATM for local currency even if it's a USD $5.00 charge each time. Just do more than, say, $100 USD. Some off these currency exchange outifts will easily exceed a 5% "exchange fee, commission," etc. Some of the airport currency exchange outfits are particularly OUTRAGEOUS when it comes to some to the fees. If you can hit a B/A affiliate bank then do that! (there won't be any fee besides the nomal int'l fee).

The best currency exchange rates are offered by the FOREX chain.If you can wait to change until you get to Aarhus, they have an office in Ryesgade (close to the Main Station).
http://www.forexvaluta.dk/en/About-FOREX/Branches/

For a while there was an exchange office at Copenhagen airport named Forexchange.( NOT to be confused with the Forex mentioned above!). They were truly a ripoff , hitting unsuspecting travellers with hidden commisions of up to 15%. Thankfully they were finally kicked out of the airport again after a lot of bad press and publicity.

I use Fidelity debit card for foreign ATM withdraw. No fee so far and they refund the fee that ATM charge.