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Message
USD to Euros
Posted on 3/19/13 at 11:49 am
Posted on 3/19/13 at 11:49 am
I am going to Paris in May and have been waiting for a good time to go to the bank and get some Euros for my trip and in my very uneducated opinion, it seems like the dollar is pretty high and this might be a good time to do so.
Am I correct?
Am I correct?
6
Posted on 3/19/13 at 12:09 pm to LSUfan4444
Posted on 3/19/13 at 12:14 pm to LSUfan4444
Your best bet is just to wait until you get there and go to an ATM machine.
I don't know of any place around here that's not going to rape you on both commission and the exchange rate they're willing to give you. Even if you can time the rates right, at best you might save a couple of bucks (but that's even pushing it).
In short, it ain't really worth the hassle.
Call your credit card company, though, and see if they can get you a card with a chip in it. A lot of places in Europe won't take the ones with just the magnetic strip.
I don't know of any place around here that's not going to rape you on both commission and the exchange rate they're willing to give you. Even if you can time the rates right, at best you might save a couple of bucks (but that's even pushing it).
In short, it ain't really worth the hassle.
Call your credit card company, though, and see if they can get you a card with a chip in it. A lot of places in Europe won't take the ones with just the magnetic strip.
Posted on 3/19/13 at 12:25 pm to Y.A. Tittle
If I can't get a card with a chip, I won't be able to use the ATM machines, correct.
And excuse the ignorance, but the bank charges to make the exchange? I was assuming I could just have the take about $1500 in cash from my account and give me the equivalent in Euros.
And excuse the ignorance, but the bank charges to make the exchange? I was assuming I could just have the take about $1500 in cash from my account and give me the equivalent in Euros.
Posted on 3/19/13 at 12:27 pm to LSUfan4444
quote:
If I can't get a card with a chip, I won't be able to use the ATM machines, correct.
Nah, they will work in all of those (at least in my experience). It's just that a lot of restaurants there use these hand-held credit card machines, that now require the chips in the cards.
quote:
but the bank charges to make the exchange? I was assuming I could just have the take about $1500 in cash from my account and give me the equivalent in Euros.
Yeah, they'll likely charge you some sort of commission, and offer you something a good bit worse than the posted rate you might see online at any given moment.
Posted on 3/19/13 at 12:30 pm to Y.A. Tittle
Thanks for the heads up.
Posted on 3/19/13 at 12:35 pm to Y.A. Tittle
quote:
Your best bet is just to wait until you get there and go to an ATM machine.
Use your debit card to avoid the cash advance fees that come with a credit card's withdrawal from an ATM.
For the OP, how much cash do you think you'll need? France actually accepts credit and debit cards. It's not like you'll be traveling through Alabama.....
And the exchange rate is almost a non-issue if you're talking about exchanging a smallish amount of dollars for euros. A 1 cent change in the exchange rate (which would be a big change in a day, or even in a week sometimes) means only a one dollar difference when exchanging a hundred dollars. Even $500 dollars would only mean $5 difference. It's not significant enough to fret over.
Posted on 3/19/13 at 12:39 pm to LSUfan4444
Use the ATMs when you get there. You dont need a chip. However if you go to buy something with your CC it may or may not work probably works about 70% of the time though.
Posted on 3/19/13 at 12:44 pm to LSUfan4444
quote:
And excuse the ignorance, but the bank charges to make the exchange?
I went to Italy the summer before last & Cap One didn't charge me anything for the exchange.
Posted on 3/19/13 at 12:50 pm to Y.A. Tittle
Hit up ATMs at supermarkets, the airport, or big bank offices. The exchange rate you get is usually better than the one at your bank.
That's what I did for my 10 work trips last year.
That's what I did for my 10 work trips last year.
Posted on 3/19/13 at 12:51 pm to Catman88
quote:
However if you go to buy something with your CC it may or may not work probably works about 70% of the time though.
That was sort of my experience (I may have actually had better luck), but the 30% of the time you encounter it NOT working makes it worth seeing if your CC company can easily get you one with a chip before you head over there. I think some of them will now.
Posted on 3/19/13 at 12:52 pm to Y.A. Tittle
I had better luck in Paris than England. Seemed more places in England required the chip. Most vendors though could run it through manually if you didnt have the chip it seemed though.
Posted on 3/19/13 at 2:05 pm to LSUfan4444
i have about 500 euros that i'll sell you that i still have from a trip at the end of the year.
Posted on 3/19/13 at 2:05 pm to Layabout
quote:
The trend is upward right now. I'd watch and wait for a bit longer.
And the vote in Cyprus rejecting the tax on depositors doesn't make a good case for Euro strength either.
Posted on 3/19/13 at 4:26 pm to OFWHAP
Visited London, Paris, Rome last summer as a inexperienced traveler. I exchanged funds at regions bank locally before I left. 5.00 transaction fee. Same on return to change back to dollars. Good exchange rate as well. ATM usage was easy and my debit cards worked everywhere. Make sure bank knows you will be overseas and increase your daily usage limit.
Posted on 3/19/13 at 5:04 pm to theOG
quote:Will you accept bitcoins..???
i have about 500 euros that i'll sell you that i still have from a trip at the end of the year.
Posted on 3/19/13 at 5:08 pm to LSURussian
quote:
Will you accept bitcoins..???
Posted on 3/19/13 at 5:15 pm to OFWHAP
quote:Cyprus' economy is too small to have a significant impact on the euro. It's total annual GDP is about 1/2 of one quarter's net profit for Apple Corporation.
And the vote in Cyprus rejecting the tax on depositors doesn't make a good case for Euro strength either.
Posted on 3/19/13 at 5:42 pm to LSURussian
quote:
Cyprus' economy is too small to have a significant impact on the euro. It's total annual GDP is about 1/2 of one quarter's net profit for Apple Corporation.
The issue is that the EU wanted Cyprus to tax deposits in order to help pay back its loan. Cyprus gave the EU the middle finger, and then the EU turned around and said that they will continue to provide liquidity to Cyprus. Now Cyprus is about to undergo a bank run while having a banking sector that's something like 8x GDP. No matter how small Cyprus is, this can't be good for Eurozone confidence.
Posted on 3/19/13 at 5:48 pm to OFWHAP
As far as the euro is concerned it will be a non-event. Just watch.
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