Euro questions - 1st timer

[ronnie64]

Is there a limit imposed by the Atm as to how much you can withdraw at one time or just by the card issuing bank? I plan on having my bank increase my daily limit before I leave but it would be nice to know if the atm limits you. Just trying to plan how many euros to get here before we leave.

[TanyaE]

ATMs will normally impose a limit in addition to your bank's limit. The bank's limit is per day and the ATM limits each transaction. I think it's usually somewhere around $500.

[daryleann]

We have Wells' Fargo, and it charges $5 US per transaction, with limit of $300/day. [My number is different from husband's so if we need more, we use the other card.] It is best to take the limit rather than several small ones, and there is the conversion rate but I am not sure about that cost. We finally got a Capitol One credit card, but have not really had a chance to use it overseas... just in Caribbean, some. Can't have an ATM card from them... darn.

BTW- when we used ATM in Bangkok, it gave our bank balance... in baht... only time we will ever have a 9 digit balance :cool::rolleyes:

[fshagan]

Some credit unions will refund the ATM fees on their cards. I understand you always pay a somewhat hidden 1% fee when you exchange funds from one currency to another, and that is built into the exchange rate. But then depending on your bank issuer, you can have other fees and charges.

 

Our local credit union at first told us they don't have any additional fees for foreign transactions on their credit cards, but I found the agreement on their website, and they do charge 1%. But even if we spent $5,000, it would only be $50, and I'm not willing to re-open an account with Capital One to save $50.

[TLCOhio]

The Wall Street Journal just showed at mid-day the pound at $1.4472 and the euro dropping to $1.197 before a slight bounce up. For cruisers this summer, maybe this is good news, but we've already paid for most of costs in advance when the value of the euro, pound and dollar were much different. As the pound and euro moved down in the past six months, what you can buy in those countries have improved. This is an advantage for using your credit card versus buying too much European currency ahead with higher conversion charges.

 

From the Daily Mail in London, they have this headline in the past hour: "Euro falls to four-year low against the dollar" with these highlights: "The euro today fell to a new four-year low against the dollar when French Prime Minister Francois Fillon spooked the markets after suggesting the weakening euro was 'good news'. Mr Fillon said he was not concerned by the current level of the euro and that he saw only 'good news' in parity between the euro and the dollar. Fears over European banks, poor results from the US jobs market and talk of a 'Greek-style' debt crisis in Hungary drove down global stocks and sent the euro tumbling."

 

Full Story:

http://www.dailymail.co.uk/news/worldnews/article-1284066/Euro-falls-year-low-dollar.html?ito=feeds-newsxml

 

THANKS! Terry in Ohio