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Started By
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international currency exchange via ATM
Posted on 7/10/15 at 1:37 pm
Posted on 7/10/15 at 1:37 pm
I went to Regions to get some Euros. Girl told me the buy rate was $1.02 per Euro. When I said i would take some, she realized she had screwed up(maybe her buy rate?) and told me the sell rate was $1.17 per Euro. So 15% markup?!?!?!
Was told getting cash out in Europe is better? 3% fee, max $500-800 per day? Is there a better way?
Guess I'd better get my cash before i get to Greece, right?
Was told getting cash out in Europe is better? 3% fee, max $500-800 per day? Is there a better way?
Guess I'd better get my cash before i get to Greece, right?
4
Posted on 7/10/15 at 1:52 pm to Mung
She definitely screwed something up because it's currently running around 1.10. There's no way their buy quote was 1.02. I'd guess that she wasn't using the correct currency pair.
Posted on 7/10/15 at 1:54 pm to iAmBatman
ok, so 6-7%? still sounds like 3% in Germany is a better deal.
Posted on 7/10/15 at 1:58 pm to Mung
If they quoted you 1.17 I'd try a different bank. I'm not familiar with how it works as far as retail banks go but 1.17 seems high. Your teller might have screwed the whole transaction up.
Posted on 7/10/15 at 2:07 pm to Mung
1) Have a checking account with a bank that doesn't charge fees/reimburses fees like Charles Schwab
2) Take cash out of ATM when you get there.
3) Bring credit card with Chip and PIN capability that charges no foreign transaction fees
2) Take cash out of ATM when you get there.
3) Bring credit card with Chip and PIN capability that charges no foreign transaction fees
This post was edited on 7/10/15 at 2:08 pm
Posted on 7/10/15 at 2:29 pm to Teddy Ruxpin
i would definitely not go without at least a couple hundred euro in your possession. ain't nothing like being stuck
Posted on 7/10/15 at 2:59 pm to achenator
quote:
i would definitely not go without at least a couple hundred euro in your possession. ain't nothing like being stuck
We will just have to agree to disagree on what I see as the extremely low odds of this happening, especially in Europe.
Posted on 7/10/15 at 3:03 pm to Mung
Certain banks have good ATM policies over there.
Bank of America isn't one of them.
Note that most chip cards are chip-signature cards, which confuses the hell out of people over there. You have to look for a chip-PIN card.
Bank of America isn't one of them.
Note that most chip cards are chip-signature cards, which confuses the hell out of people over there. You have to look for a chip-PIN card.
Posted on 7/10/15 at 3:27 pm to achenator
quote:
i would definitely not go without at least a couple hundred euro in your possession. ain't nothing like being stuck
I have visited 31 distinct countries, in probably 40+ international trips in the past 20 years.
Never once was I unable to get cash out of an ATM. Yes, I had to call my bank once but that was just once. And it was b.c I miscaluclated and overdrew.
If you are really concerned, bring $100 in US$. You can always convert it.
You get screwed on ATM fees when you use an ATM, but most banks will screw you with domestic exchanges. I use my Schwab debit exclusively internationally as they rebate ATM fees and no foreign exchange fees. But your normal bank will charge a few %
Posted on 7/10/15 at 3:29 pm to Tigah in the ATL
quote:
Note that most chip cards are chip-signature cards, which confuses the hell out of people over there. You have to look for a chip-PIN card.
Again, I have never had one of my cards declined for ATMs (except for the overdraft situation).
The big thing is make sure you dont have a 6 digit pin but I think they are mostly gone.
Posted on 7/10/15 at 5:19 pm to Hawkeye95
I mean keeping it separate from the rest of your CC, IDs etc in case lost or stolen
Posted on 7/10/15 at 7:00 pm to iAmBatman
I'd guarantee that 1.17 is the proper sell-to rate, that's the current rate at Wells Fargo. Bank of America is 1.172. I'm going to guess that Regions handles their foreign exchange through one of those banks. Buy-from rate of 1.02 sounds right as well, and that's what was initially quoted instead of the sell-to rate.
Posted on 7/10/15 at 8:54 pm to Teddy Ruxpin
quote:I used my Capital One 360 atm card in Australia with no issues. Got AUD out of ATMs there with no atm fee and no exchange fee
1) Have a checking account with a bank that doesn't charge fees/reimburses fees like Charles Schwab
2) Take cash out of ATM when you get there.
Posted on 7/10/15 at 9:10 pm to Dead Mike
Like I said I'm not familiar with the retail side but the current rate in the market is around 1.10
Posted on 7/10/15 at 11:45 pm to Teddy Ruxpin
quote:
We will just have to agree to disagree on what I see as the extremely low odds of this happening, especially in Europe.
Teddy is right.
Posted on 7/10/15 at 11:59 pm to LSUAfro
I've never not been able to get money out of an ATM while traveling abroad. Never. Not once.
Posted on 7/11/15 at 1:34 am to Joshjrn
Other poster is right, bring three $100 bills and keep in a safe spot for emergencies. Don't touch it unless its a last resort. US dollar is accepted at a lot of tourist places if necessary, they just mark up the price.
Posted on 7/12/15 at 2:31 pm to Mung
Call your bank (and CC company) and tell them you are going to Europe and ask them. Sometimes they will see foreign withdrawal or purche attempts as a sign of a stolen card and freeze it. This has happened to me (many years ago).
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