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Old 12-08-2008, 02:04 AM   #1
 
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Default Money matters in Europe

I keep hearing about different fees involved with atms in europe. I am budget minded and was wondering if i should use my debit card for purchases, or use foreign atms or bring euros with me from the us. I need the CHEAPEST way obviously. cheers.
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Old 12-08-2008, 02:22 AM   #2
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Your best option is to just use ATM's and get as much cash out as you can each time. Using your debit card for purchases is generally cheaper than ATMs so thats something to consider if you are making some big purchases.

Bank web pages will usually have a list of all the fees associated with being overseas.
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Old 12-08-2008, 02:24 AM   #3
 
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so withdraw the max from an atm as soon as i get there and just pay in cash? how much do the atms charge?
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Old 12-08-2008, 02:31 AM   #4
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Check with your bank but for mine it was 5 bucks (Australian) plus 2% of whatever I took out.

It sucks but I guess its just another travel expense.

Make sure you have a money belt to keep all your extra cash in.
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Old 12-08-2008, 04:20 AM   #5
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Also, check if your bank charges a foreign transaction fee for using your debit card in a foreign country. I use my debit card to get cash (only have to pay the transaction fee), but use my Capital One Visa for purchases when I can use a credit card. They're the only credit card that I know of that doesn't charge an additional fee to use it outside the US.
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Old 12-08-2008, 05:36 AM   #6
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^Agreed - Capital One rocks for international use.
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Old 12-08-2008, 07:52 PM   #7
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Not every place in Europe takes credit card so keep that in mind.
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Old 12-08-2008, 08:06 PM   #8
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Quote:
Originally Posted by mbo108 View Post
^Agreed - Capital One rocks for international use.

I've never figured out why they do this, because Visa International charges a 1% fee which means that when Cap One charges you 0% they're actually eating the 1% they have to pay to Visa.

But it is awesome if you plan to charge much overseas.
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Old 12-08-2008, 08:40 PM   #9
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wow awesome i have capital one

I personally DO NOT take out as much money from the ATM as possible. I usually only take out $100 at a time, because its alot better to get $100 stolen than $500. I paid about $50 in ATM fees, which was roughly 1% of my total budget. In my opinion, that 1% was worth it for the security. And I didn't have to wear one of those hideous money belts. Also if you have another bank acct at a separate bank then put half the money in there. I split my money between two banks and it saved me at times because one would be down so I just used the other card.

BTW I would get like 10 or 15 euros (enough to get to the city center) changed at your bank at home bc there's only one ATM in the Dublin airport, and there's always a long queue for it. Plus you can only get 50 euros minimum. So you have this big bill and it can be a pain to break it, esp at night. Last time I was there at 1 am and there was only one shop open and I had to wait 15 or 20 min in line just to buy something to break the bill.
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Old 12-09-2008, 05:06 PM   #10
 
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Default Atms in Eu

Im just gonna take 1000 euro cash from home. fuck all the atms lol
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Old 12-09-2008, 06:38 PM   #11
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i wouldnt do that bc ur gonna get ripped off badly by the exchange rate...getting it from the ATM gives u a fairer rate, esp if the fee they charge to withdrawl from an unaffliated ATM is low
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