Cash in Europe

[Pilot Pete]

Soon to be spending many (and I mean many) days in hotels throughout Europe, excluding the UK.

My question is directed at the many of you who already do this and what I want to know is what is the best way to make purchases (meals, drinks and associated costs whilst downroute!) in the Euro?

Does the best method vary from country to country?

For instance. Is it cheaper to get a handful of Euros back in Blighty and take them with you, or get them in Euroland? What about a Euro bank account based in the UK with cash withdrawl facility abroad? What about a bank account in each county, or is that getting silly? I am guessing that Visa/Mastercard is easy but probably not the cheapest in terms of exchange rate?

Many thanks for your time and comments.

PP

[Red Snake]

Use your bank card / switch card in a cash machine of the country you're visiting. Saves commissision charges & lousy exchange rates from airport bureau de change. Or pay by credit card.

[Patagonia]

Pay by credit card always - just make sure you pay it off on time!

You will get the bank rate for the transaction (ie: better than at a bureau de change etc.) which is better than the tourist rate.

Just check with your card issuer if they make a charge either flat-rate or percentage - if so may be worthwhile shopping around for a different card specifically for your trips.

And don't be using your credit card to withdraw cash from a machine anywhere - they start charging interest from that moment, even if you pay the bill in full each month. If you use a debit/Switch/Cirrus type card for ATM withdrawals then make it a decent amount each time.

Hope this helps.

[The Sweeney]

Well I would check the exchange rate with http://www.xe.com/ucc and then trundle off to the Post Office to get them where they don't charge commission.....

[Pilot Pete]

Thanks guys.

Anyone else with a little pearl of wisdom on the matter?

PP

[BLK 33]

Agree with above - get a Switch card from your Uk bank and look on the back or wherever and see if it has a Maestro or Cirrus symbol. If so, you can use them from ATMs and shops in the same way as you would in the UK except that you will have to pay an exchange rate but it will be better than a bureau de change because the bank/card operators negotiate bulk business rates.

Or you could use beads.

[Flypuppy]

My experience of living in one European country, working in another and visiting the UK fairly regularly, the best combination is a Bank card with the Cirrus/Maestro option available which will allow you to get cash at cashline type machines. Couple that with a Visa or Mastercard credit card so you can buy things like dinner, digital cameras, presents for the wife and kids, and duty free booze.

If you are going to be constantly mobile you dont really want to be carrying large sums of cash around with you. At least with the Euro you wont have the problem of carrying 8 or 9 types of currency around.

[ravenx]

check out the credit card bit before you go spending - some companies charge 1.5 - 2% for overseas purchases. This can soon exceed the cost of buying and returning currency.

[DesignerChappie]

If you have an account with the Nationwide your laughing because they don't charge to use ATM's. Most banks charge £1.00 to £1.50 per transaction to use foreign ATM's but you get the current bank rate. Also most ATM's will only allow a maximum of 400 Euros to be withdrawn in one transaction and sometimes per day.

Hope this helps.

[expedite_climb]

Get down to your local Thomas Cook before you leave, and get a special rate !! :-)

Hope it works out with 'dem boys mate.

[interestedparty]

Nationwide Visa (Gold) has the lowest currency conversion / cash advance costs of any UK CC.
Please note despite the fact that it carries an on-board chip, this is not compatible with the French PIN system and you still have to sign the bill! Why do the CC issuers whine about fraud and yet do nothing about it? Because its cheaper that way I guess!
John Burgess

[reynoldsno1]

I have to admit that during my (brief) return to the UK I was astounded to see people using their debit card and signing the receipts. The bank told me that 'revolutionary' software was on the way and that PINs would be issued in around 2005... they were surprised to hear that I first used a debit card with a PIN in New Zealand in 1987!!!

[Pilot Pete]

Thanks again guys, much appreciated, oh and Expedite yes I thought of that one...........this was more of an 'ongoing' question rather than just a one off!! Oh well, back to learning my third set of SOP's for the same aircraft in six months.....................!

PP