Exchange, ATMs, Withdrawing Money - TravelPUNK Backpacker College Student Budget Travel Message Boards!



Go Back   TravelPUNK Backpacker College Student Budget Travel Message Boards! > Members Lounge > General Travel Tips, Education, Advice > Travel Budget, Money Matters, Financial Talk

Travel Budget, Money Matters, Financial Talk Mom, can I borrow ten grand?! Gimme yo mastercard! How the heck can I pay for my trip?! Ideas for making money. How much dough do I need?

Raileurope.com: See Europe by train
Reply
 
LinkBack Thread Tools Display Modes
Old 03-11-2006, 05:08 PM   #1
Members
 
Join Date: Jan 2006
Location: East Lansing, MI, US
Posts: 509
Thanks: 0
Thanked 0 Times in 0 Posts
Send a message via AIM to futboller
Thumbs up

Ok, so now that I've got money in an account in the US... How do I get to it in Europe? Are there ATMs or an equivalent, or do I need to go to banks? Is my bank going to charge me additional fees to withdraw in euros or pounds (so far it seems to be fine with processing "credit card" transactions in euros)? I hear exchanging currency at trainstations has a pretty rough rate, but what about just withdrawing euros?
__________________
I fell in love with football as I was later to fall in love with women: suddenly, inexplicably, uncritically, giving no thought to the pain or disruption it would bring with it.
Nick Hornby

Travel::Blog
futboller is offline   Reply With Quote
Old 03-11-2006, 05:59 PM   #2
Members
 
Join Date: Nov 2005
Location: Toronto, ONT, CAN
Posts: 266
Thanks: 0
Thanked 0 Times in 0 Posts
Default

With my bank I don't recall any mention of fees for withdrawing euros. You should go down to your bank and talk with someone there, but you can use your regular card at some ATMs in Europe. For me (and most N. Americans) the ATM has to have the "Plus" logo. Not all ATMs in Europe have this, but they are typically found in or around train stations (where foreign tourists are likely to be coming in). Rates of exchange can be pretty steep if you go to a currency exchange outlet to exchange cash, but I think it's easier and costs less (if anything) to just withdraw on your ATM card. But again, talk directly with someone at an actual branch or office for your bank to make sure.
mark-0 is offline   Reply With Quote
Old 03-12-2006, 04:51 AM   #3
TPunk Recognized
 
ajb3000's Avatar
 
Join Date: May 2005
Location: London, England
Posts: 502
Thanks: 0
Thanked 1 Time in 1 Post
Default

Make sure you have a VISA debit card and that it uses a 4-digit PIN number, with one of those you shouldn't have any problems in Europe, although double check with your bank in case you need to activate it for use abroad or something. As for transaction fees, my bank in the UK charges 1.50 + 2% everytime I take money out of an ATM abroad. This usually works out about the same as exchange offices as you get a better rate with the bank to begin with.
__________________
Where I've been: Albania, Australia, Belguim, Bosnia and Herzegovina, Brazil, Bulgaria, Cambodia, Canada, Colombia, Croatia, Czech Republic, Denmark, Egypt, Ethiopia, Finland, France, Germany, Greece, Holland, Hungary, India, Indonesia, Iran, Iraq, Ireland, Italy, Japan, Jersey, Jordan, Kosovo, Kyrgyzstan, Laos, Latvia, Lebanon, Macedonia, Malaysia, Mexico, Moldova, Monaco, Morocco, Poland, Portugal, Romania, Russia, Serbia, Seychelles, Singapore, Slovenia, Somaliland, Spain, Sudan, Sweden, Switzerland, Syria, Thailand, Transnistria, Turkey, Turkmenistan, United Arab Emirates, United Kingdom, United States, Ukraine, Uruguay Uzbekistan, Vatican City, Vietnam, Yemen

Where I'm going: Cyprus (June 2013)
ajb3000 is offline   Reply With Quote
Old 03-12-2006, 07:17 AM   #4
TPunk Emeritus
 
worldwidemike's Avatar
 
Join Date: Sep 2003
Location: Columbus, Ohio USA
Posts: 3,405
Thanks: 0
Thanked 0 Times in 0 Posts
Default

You will get charged a fee for each withdrawal, just like if you went to another U.S. state and used a different ATM than your bank's own branch. In addition, some banks are whacking folks with a "currency conversion" fee on purchases and withdrawals in different currency. Nevertheless, it's still your safest and most economical bet for changing money.

Just don't use it like you do back here with $20 worth here, $20 worth there. Get what you think you'll need for a couple weeks, or for that country, if less time.

Oh, and make sure your ATM has either the Cirrus, PLUS or similar "network" it's part of...flip your card over and look at the back, you should see several logos for the networks that your card belongs to.

worldwidemike
__________________
Check out my travel web page at:
Worldwidemike.com
"Life is not measured in the number of breaths we take, but by the places that take our breath away..."
worldwidemike is offline   Reply With Quote
Old 03-12-2006, 09:16 AM   #5
Members
 
Join Date: Jan 2006
Location: East Lansing, MI, US
Posts: 509
Thanks: 0
Thanked 0 Times in 0 Posts
Send a message via AIM to futboller
Default

Thanks guys. It seems easier than I thought it might be!
__________________
I fell in love with football as I was later to fall in love with women: suddenly, inexplicably, uncritically, giving no thought to the pain or disruption it would bring with it.
Nick Hornby

Travel::Blog
futboller is offline   Reply With Quote
Old 03-12-2006, 09:27 AM   #6
TPunk Emeritus
 
Join Date: Jun 2004
Location: Leigh On Sea, Essex
Posts: 3,337
Thanks: 0
Thanked 0 Times in 0 Posts
Default

yeah although be prepared that if you are paying for your goods in the UK, most outlets and im talking about 95% here make you use your chip and pin to purchase goods, I dont know if this is the same in the rest of Europe
__________________
I have two skins, one to lie on and one to cover myself with; the earth and the sky. (Masai proverb)


FANCY A READ...TPUNK BOOK CLUB CAN BE FOUND HERE



what goes around comes around
beergal is offline   Reply With Quote
Old 03-12-2006, 02:38 PM   #7
TPunk Emeritus
 
Join Date: Feb 2005
Location: From Aussie, but living in Canada for now
Posts: 1,794
Thanks: 0
Thanked 0 Times in 0 Posts
Send a message via MSN to LostFarmboy
Default

Be careful with your international transaction fees. My bank told me i wouldn't get charged anything to withdraw money overseas, but after 4.5 months abroad i came home to a nice $140 bill worth of international transaction fees, plus some more fees for the few times i used my credit card....bloody banks
__________________
My adventures: http://www.flickr.com/photos/nickt0909/
LostFarmboy is offline   Reply With Quote
Old 03-13-2006, 05:35 AM   #8
TPunk Emeritus
 
Join Date: Feb 2004
Posts: 2,115
Thanks: 0
Thanked 0 Times in 0 Posts
Default

We lived in Lithuania for two years and (due to the prevalence of credit card fraud there) used cash for nearly all purchases. We'd just go down to an ATM and withdraw funds straight out of our US account. Same in all the places we visited during that time, and same here in Germany. In non-Euro using countries, it's a lot easier to get local currency and you won't get stuck with tons at the border, if you only take out what you reckon you'll need. As long as you have the Plus/Cirrus system, you should be fine. Not all ATMs here have them, but you should be able to find one in any town of any size. By the by, we've also been caught out at stores (in Germany) that don't accept MasterCard or Visa - they only accept EuroCard, so be sure to check the signs on the door or ask at the cashier before you make your purchase! Also, I'd definitely make sure to have BOTH a Visa and MasterCard, in case you hit one of the places that only takes one.

tumblezweedz is offline   Reply With Quote
Old 03-13-2006, 06:15 AM   #9
Members
 
Join Date: Jan 2006
Location: East Lansing, MI, US
Posts: 509
Thanks: 0
Thanked 0 Times in 0 Posts
Send a message via AIM to futboller
Default

It sounds like if I use ATMs and cash for the most part I should be ok? Do hostels usually take Visa/Mastercard?
__________________
I fell in love with football as I was later to fall in love with women: suddenly, inexplicably, uncritically, giving no thought to the pain or disruption it would bring with it.
Nick Hornby

Travel::Blog
futboller is offline   Reply With Quote
Old 03-13-2006, 10:41 AM   #10
Minister of Offense
 
omisan's Avatar
 
Join Date: Jun 2004
Location: San Fran Disco
Posts: 6,561
Thanks: 0
Thanked 0 Times in 0 Posts
Send a message via AIM to omisan Send a message via Yahoo to omisan
Default

In addition to all the great info posted, here's an old thread I'd started on the topic... Credit/Debit card advice.

You'll be just fine using ATMs/cash, and most hostels in western Europe are more than happy to take credit cards. Some will even charge you in your local currency so you don't get dinged by your credit card company for an international charge! And if they don't take plastic, there will surely be an ATM nearby where you can run and get your desker some cash.
__________________
Donde esta Omid? Omi-san wa doko desuka? Ou est Omid? Wo ist Omid?

Find out @ http://omidabroad.blogspot.com

omisan is offline   Reply With Quote
Old 03-13-2006, 03:22 PM   #11
Members
 
Join Date: Jan 2006
Location: East Lansing, MI, US
Posts: 509
Thanks: 0
Thanked 0 Times in 0 Posts
Send a message via AIM to futboller
Default

Thanks Omi. I'm reading the old thread now.
__________________
I fell in love with football as I was later to fall in love with women: suddenly, inexplicably, uncritically, giving no thought to the pain or disruption it would bring with it.
Nick Hornby

Travel::Blog
futboller is offline   Reply With Quote
Old 12-30-2006, 04:11 PM   #12
TPunk Recognized
 
Sabrosa's Avatar
 
Join Date: Jan 2006
Location: Kind of everywhere..for now.
Posts: 428
Thanks: 0
Thanked 0 Times in 0 Posts
Exclamation Help

Okay guys...Im in Buenos Aires right now. Plan to stick around here for a few months. Yay! Florencia and I plan to get together soon...photos to come.

Anyway...Im having major money pains. The ATMs here will only give me 500 pesos at at time (which is exactly $163USD and some change), and every time I take out money, Im paying roughly $8 USD in service fees. Im at a loss!! Any advice?!? Ive contacted my bank, they dont have any advice for me...and there arent any banks here that Bank of America is affiliated with. There are plenty of Citibanks here...which I have thought about opening an account online with them, or something. But then they would have to send me a new ATM card here. Gah..I dont know what to do.

Thanks in advance.

Sabrosa
__________________
http://www.travelblog.org/Bloggers/Kindra/


The purpose of life is to live it, to taste experience to the utmost, to reach out eagerly and without fear for newer and richer experiences. - Eleanor Roosevelt
Sabrosa is offline   Reply With Quote
Old 12-30-2006, 04:35 PM   #13
To Smart For Mensa
 
TheJake's Avatar
 
Join Date: Jul 2004
Location: Salt Lake City
Posts: 5,818
Thanks: 3
Thanked 1 Time in 1 Post
Send a message via AIM to TheJake Send a message via MSN to TheJake Send a message via Yahoo to TheJake Send a message via Skype™ to TheJake
Default

I was able to get cash out of my bank from home by going inside a bank and doing it with the teller. Or if you have any checks, write yourself a check.
Also I found HSBC's to have the most fair AMT fee's. Of course all this was two years ago!
__________________
Adventure needs to be as much about discovering yourself as it is about discovering the world.
TheJake is offline   Reply With Quote
Old 12-30-2006, 08:22 PM   #14
TPunk Recognized
 
Sabrosa's Avatar
 
Join Date: Jan 2006
Location: Kind of everywhere..for now.
Posts: 428
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by TheJake View Post
I was able to get cash out of my bank from home by going inside a bank and doing it with the teller. Or if you have any checks, write yourself a check.
Also I found HSBC's to have the most fair AMT fee's. Of course all this was two years ago!
Are there fees associated with writing myself a check?
__________________
http://www.travelblog.org/Bloggers/Kindra/


The purpose of life is to live it, to taste experience to the utmost, to reach out eagerly and without fear for newer and richer experiences. - Eleanor Roosevelt
Sabrosa is offline   Reply With Quote
Old 12-31-2006, 04:59 AM   #15
To Smart For Mensa
 
TheJake's Avatar
 
Join Date: Jul 2004
Location: Salt Lake City
Posts: 5,818
Thanks: 3
Thanked 1 Time in 1 Post
Send a message via AIM to TheJake Send a message via MSN to TheJake Send a message via Yahoo to TheJake Send a message via Skype™ to TheJake
Default

there shouldn't be. I guess you'll have to ask at a bank. They might not even let you do it since you're overseas.

I still can't believe your paying that much! It should just be 1%. Maybe double check that your bank isn't charging you some kind of security fee or something.

Enjoy buenos aires! I love love love that city.
__________________
Adventure needs to be as much about discovering yourself as it is about discovering the world.

Last edited by TheJake; 12-31-2006 at 05:10 AM.
TheJake is offline   Reply With Quote
Reply






Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
need help with money exchange mountainmama Travel Budget, Money Matters, Financial Talk 2 07-26-2006 11:00 AM
Best rated money exchange for Singapore dollar to persianpower Travel Budget, Money Matters, Financial Talk 2 03-24-2006 05:18 PM
currency exchange finkle55 Travel Budget, Money Matters, Financial Talk 26 04-09-2005 10:25 AM
EXCHANGE MONEY?!?!?!?! jeanninej Travel Budget, Money Matters, Financial Talk 5 11-09-2004 04:00 PM
ATMs in Europe phreshjive Travel Budget, Money Matters, Financial Talk 2 07-09-2004 10:25 AM


All times are GMT -7. The time now is 02:55 AM.



 

Search Engine Optimization by vBSEO 3.2.0

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121