hal1050

I'm making a 21 day trip thru Greece (Athens & islands), then southern Italy, then Spain (Barcelona, Madrid), using Miami as my U.S. departure city. I don't need a lot of walking around money except for restaurants that won't take plastic, and metros and buses (that won't take plastic). My questions are:

1. If I take any travelers checks along, will hotels charge more than banks for exchanging those? Do banks individually set exchange fees in Greece, Italy or Spain nowadays? Would I do better to rely on ATMS to withdraw cash? (I have Cirrus on my cash card).

2. Am I better off getting any of my Euros cash for arriving in Europe while still in Miami? If so, is there a bank there at the airport that gives decent exchange for dollars -- better than what I'd get once I get into Europe?

3. Will I get a better rate for exchanging my Euros back into dollars at the end of my trip by taking care of that before I leave Spain for the States, or wait till I get back here?

4. VISA usage: Will I get a better rate on VISA cards that carry MBNA, U.S. Bank or Citibank? I have several with one or the other and have noticed that some give better exchanges on charges made when you're overseas.

Thanks anyone...

moondog

cap one and mbna are the best -- by far -- of the majors (interbank rate + 1% fee). atms are the best way to get cash, especially if your bank (bofa, citibank, standard chartered, hsbc, etc) has atms in the country in question.

EricH

Don't take any cash or traveller's checks (which aren't widely accepted any more). All airports have ATMs, which have better exchange rates than the currency exchanges. Just be sure that your PIN is four digits. Also, withdraw an odd amount (190 instead of 200, say) to make sure you have some smaller bills to start out (I usually forget that one).

Edited to fix my lousy typing (or is it my lousy grammar?)

[This message has been edited by EricH (edited 09-10-2003).]

hal1050

thank you moondog and EricH!

moondog: I intend taking my Visa from MBNA and relying mainly on that for charges. I have a debit card with Cirrus access, but being the anal guy I am, I'm still tempted to take along a small amount of Euros from States just in case there are "down" problems with my credit union where I have the withdrawal and then I'm left cashless.

Eric: are you saying that ATM withdrawal exchange rates also beat out local banks onsite at airports or in cities over there, in addition to those "cambio" exchange places that charge high fees?

Droneklax

yes. And avoid, I repeat AVOID, those "Cambio" outfits at all costs.

Please read http://www.flyertalk.com/travel/fttr...ML/011339.html

for an idea of how these places rip you off.

An ATM card is all you need. But make sure not to withdraw small amounts, as your bank will charge you a few $ (typically 2 or 3) for each transaction. Other than that, the exchange rate is as good as it gets.

[This message has been edited by Droneklax (edited 09-10-2003).]

cordelli

I'll join the ATM group, but put a dondition on it, if your bank doesn't charge you a zillion dollars to get money overseas. Call and see if they have a fee for it. Mine doesn't, but some do.

ATM's are easily the best way. You may want to change $100 or so worth to get you started when you land, and for the small fee it really won't matter if you do it here or there, then hit the ATM when you get a chance.

Travelers checks are not really worth the hassles in finding a place to cash them anymore.

hal1050

Thanks for your advice.

My bank (actually, credit union) doesn't charge for me to use my ATM card at Cirrus or Star outlets, it's the bank that owns the ATM that is tacking on the charge. Stateside I tend to nit and pick where I go to use my ATM card but needless to say in a strange airport or an unfamiliar city when you've got no time to lose I won't be playing that game. I will however exchange a small amount of dollars for Euros in Miami so I don't have to completely gamble that the ATM at Venizelos airport Athens is functioning at 5 a.m. when I get there.

EricH

Your question for me has already been answered and I concur. As an especially stark example, there is a Barclay's exchange booth with a Barclay's ATM on the side at Gatwick. I missed the ATM the first time I went by because there was a really long line at the booth and no one was using the ATM. I checked the rates at the booth and used the ATM. When I got my statement I was amazed how much better the ATM rate was. Don't make the same mistake all those folks on line made.

EricH

As a PS to the above, I have had the experience of meeting a non-functioning airport ATM (at CDG, quel surprise!). I used the rip-off exchange booth to get enough currency to get me downtown, where there are ATMs galore. Even with that experience, I still think it's worth the gamble to rely on the airport ATM working.

hal1050

Thanks again, Eric.

It's not something I've ever taken close note of before, because I'm not normally a frequent ATM user, but do most airport authorities overseas only allow one bank ATM location per terminal? Seems like the bigger terminals in the States do have more than one, but your CDG experience sounds like the installation might be more limited overseas. BTW, my airport layovers include: Athens (Venizelos), Naples (Campodiocchio), Barcelona, Madrid (Barajas), London (both Heathrow and Gatwick).

cordelli

No, jsut the opposite, I've seen many different banks and even the currency places ATM's in the airport. My wife has a credit union account, her card never works overseas, they muck around with it, and tell us to try again. There have been airports where we have tried it in six or seven different banks machines.

I don't believe they fill their machines as often as we do here, it's wya more common over there to see a machine out of cash then it is here.

hal1050

Thanks for the heads up about your wife's experience with credit union tie-ups. I now will make a point of asking my own credit union if their ATM cards usually function okay from overseas machines. Of course I'm trusting them to be frank about it Another reason I will travel with some Euros before I get over there.

chemist661

I have in the past (not recently) changed a small amount of dollars into the currency of choice at LAX intl terminal. (now called Bradley Terminal). I would go down into the baggage claim area (this was pre 9/11) and change my money at a certain vendor. The exchange rate was not great but they changed no min transaction fee, unlike all the others. I would only change only $20-30; enough to take transport into the foreign city.

Now that I travel alot more now, I had very little problem using an ATM at the foreign airport. I also bank at a credit union.

As a backup, you could take a little cash in dollars & some traveler's checks.

GUWonder

Worst case, you can always get an expensive Western Union transfer to bridge you over.

StSebastian

My rules of thumb when I travel:

1. Don't take them except for an emergency backup if you really think you might need it. They're now more work than they're worth. Use the ATMs. All of your countries listed have ATMs all over the place. If you haven't used your card internationally before, check with the bank on the rules and terms for international transactions. I've never had a problem with mine except when I tried to withdraw money at 4-5am EST (their shutdown and backup the system time). I waited an hour and it was all good.

2. You'll generally get a better rate in Europe.

3. I still think you'll generally get a better rate in Europe, but YMMV.

4. Other people are better on this one.

One thing to note -- credit cards are not nearly as prevalent in some places like we're used to in the US. Always check before you're expecting to pay with a credit card and ask if there is a surcharge to pay with a card. I cut ~32 Euros off a hotel bill by going and getting cash at an ATM to pay the bill rather than using a card.

Try to make sure you always have some small bills and a few Euros in change for various machines. Break larger bills when you have an option and do not have a lot of smaller bills/coins; many vendors do not keep lots of change and may not be able or willing to accept a EUR20 bill for a purchase less than EUR5. Breaking EUR50 bills and larger was difficult if I was not making a purchase of at least EUR20.

I usually travel alone or with a few friends, and carry $100-$200 US ($100 additional for each extra person in my group when I'm pretending to be a tour guide and they're not familiar with international travel) as a backup in case I run into major problems or have issues getting cash from an ATM at any given time.