jamesvu

We are going to Paris , London and Zurich .
Should we exchange the money in US or exchange in Europe ?
Please advice !
Thank you for your input !

BSBD

Neither.

Use your ATM card to withdraw cash in local currency in each country. Don't withdraw more than you think you'll need. Why? Because your bank's exchange rate is certainly better than the local exchange rate.

UAPremExecflyer

This is the best option. Excellent advice.

LondonElite

Agreed. That and a no service fee credit card.

Tolarian Wind

When I check out of my hotel I apply all my local currency to the bill and then use a no exchange fee card for the rest.

TW

mariodian

I wouldn't even bother withdrawing money from ATM. You can pay with your card pretty much anywhere in larger European cities and I guess it's without any fees on your side as well.

I usually only withdraw from ATM when I travel to Asia, because I had so many problems paying with my cards over there.

Artpen100

Agree that using the ATM in the other country is best to get cash, though I like to get some local currency before I go for use on the metro or train or getting some food before I have a chance to get to an ATM. I travel enough that I often have a little on hand left over from the last trip. Getting it from Travelex or similar beforehand is not cheap, but cheaper than having to get some at the airport wherever you are going, and it is nice not to have to have your first worry when you get there being where to get some local currency.

mclymerne

This is good advice as we're cruising to northern Europe in July. My question is whether taxis take credit cards. We're spending 2.5 day in Stockholm and will probably take a cab from the airport to our hotel, and then to our cruise terminal on cruise day. Thanks.

FlyingCow

In Scandinavia you will have no issues, all taxis accept credit cards. Enjoy!

FlyingUnderTheRadar

Not all credit cards are fee free, many still charge 1%. AmEx is going that way next month as well as others.

If you get hit with a credit card fee your best bet is withdrawal the maximum amount you can from an ATM. The ATM fees, typically $2 on withdrawing $300-$400 is less than the 1% credit card fee.

gobluetwo

It is also helpful to have a chip-signature card. Most bigger places can manage an unchipped card, but the smaller joints may not accept them. Also may need it at transit station kiosks.

milepig

Not if you have a US credit card. They don't work reliably, and never when you most need them to. Using the ATMs I always have enough cash to get me through that day, just in case.

fassy

Make sure you get a cab from an official cab company, best ask the hotel to book it with a fixed price. 'Taxi fare rip offs' of tourists is not uncommon in Stockholm... never get into a cab which does not belong to a big taxi company and always ask for the expected fare.

In Sweden you won't need any cash at all as long as you have a Visa or MasterCard. Amex and Diners are not accepted in some places.

mclymerne

Thanks. I've done a little research on cabs in Stockholm and they say to look for the official yellow sticker on the right side rear window with prices affixed to them-- those are official. I will probably ask an airport official for some assistance though. Thanks again.

nkedel

Some still charge 3%, best to know for sure for your given card one way or the other (and this can vary by specific card offering, not just by issuer.)

Many US checking accounts will have the same sort of (1%-3%) foreign-transaction fees, and some will also have a flat "not our bank" fee of $2-$5, separate from the ATM-owner's fee.

Best to know your individual account's terms one way or the other; there are a good number of no-fee options for both.

IME it was not at all inconvenient to have one extra credit card with no fees for overseas use, while it never seemed worth it to have a second checking account for overseas use or to move my checking account to one that didn't have fees until I ended up with one for other reasons.

Even with a highish fee, the combination of high per transaction fees and bad exchange rates on small transactions, ATM has always been better for me than changing money on the ground in Europe.