Rare cruisemom42 Posted June 12, 2014 #51 Share Posted June 12, 2014 Thanks All. Arriving Sunday Oct.12/14 Barcelona. Hispanic Days. (holiday Monday) Banks won't be open till Tuesday I would assume. Option would be Barcelona airport. Anyone purchased E there? Are E about the same size as U.S. bills? Do have money belts. Thanks. Wells Fargo won't work for Canadians. There are ATMs at the airport. Euro notes are not too far off the size of US bills but are a bit taller and shorter. Here's photo showing both: http://www.findingdulcinea.com/docroot/dulcinea/fd_images/news/Americas/2009/October/How-Does-the-Weakening-US-Dollar-Affect-Other-Countries/news/0/image.jpg Link to comment Share on other sites More sharing options...
moviefan2010 Posted June 15, 2014 #52 Share Posted June 15, 2014 Never exchange in the US since you get robbed by the rates. Even an expensive European airport exchange is better than a US bank. Sent using the Cruise Critic forums app Link to comment Share on other sites More sharing options...
Rare puppycanducruise Posted June 15, 2014 #53 Share Posted June 15, 2014 This will be our first time to Europe. After reading about all the pickpockets in Italy & Spain it makes me nervous to use an ATM in public. how do you hide the money away after without the wrong person watching? The exchange at our airport is charging 18% over the closing rate. $1000.00 Cdn. = 608E This is going to be an expensive trip.Closed at l.47 today. Check your local bank. Our Scotiabank always seems to have US$, Euro and British Pounds on hand to 'sell'. I bought some Euro before our Med cruise last year. They do charge a fee, but on 100 Euro, it wasn't too bad, and I like to have a bit of cash just in case it is difficult to find a working ATM. Link to comment Share on other sites More sharing options...
bisabella Posted June 15, 2014 #54 Share Posted June 15, 2014 Never exchange in the US since you get robbed by the rates. Even an expensive European airport exchange is better than a US bank. Sent using the Cruise Critic forums app I checked the rates at my local branch of Bank of America. At a 1.36 published exchange rate, they would charge 1.435 with no other fees. Comparing that rate with an ATM at the airport rate plus 3% plus $5.00 transaction fee, for 600 euros it would be approximately $15.00 more to purchase at BoA. Unless I am calculating wrong, I think $15.00 is worth the convenience of having the euros in advance. Any thoughts? Link to comment Share on other sites More sharing options...
Rare cruisemom42 Posted June 15, 2014 #55 Share Posted June 15, 2014 I checked the rates at my local branch of Bank of America. At a 1.36 published exchange rate, they would charge 1.435 with no other fees. Comparing that rate with an ATM at the airport rate plus 3% plus $5.00 transaction fee, for 600 euros it would be approximately $15.00 more to purchase at BoA. Unless I am calculating wrong, I think $15.00 is worth the convenience of having the euros in advance. Any thoughts? That's a value call that only you can decide. It does sound like you've calculated correctly. Link to comment Share on other sites More sharing options...
Girr Posted June 15, 2014 #56 Share Posted June 15, 2014 As a heads up when using an ATM make sure its bank connected. I know in FCO's baggage pickup area there are several ATMs which I've used many times while waiting for my luggage. However, last year in London I ran into the situation where the ATMs in the arrival area where not bank connected. They actually were part of that company that exchanges money at the airport - thank goodness I noticed this before using the machine. The exchange rates on these machines are outrageous! Luckily I still had pounds with me from my last trip so I didn't have to go wander around Heathrow to find a real ATM (they are they, but outside the arrival area). When I got into London I just went to the ATM at the bank across from my hotel. Also, as already mentioned if you need a large sum of euros or pounds it can get a little "complicated". First, make sure your bank/credit union know you're going to need to pull a certain amount and what day (the odds are your bank/credit union also has a daily limit on your card). My credit union has always changed my daily limit for me with no problem. Also for security I only have them change it for specified days - not the entire trip. Then as already mentioned you'll find most ATM machines will also have a daily limit per transaction - however, I've never had a problem reinserting my card and doing a second pull (can't guarantee this will also happen though). For the most part most machines have the option of "English", but keep in mind key pads may be alphabetic vice numeric so make sure you know your four digit codes both ways. Barbara Link to comment Share on other sites More sharing options...
celebrity Posted June 15, 2014 #57 Share Posted June 15, 2014 That's a value call that only you can decide. It does sound like you've calculated correctly. I was extremely cautious on my first cruise to Eirope last year. Was terrified that I would be stranded abroad with no Euros, I contacted my bank, And got a decent exchange rate. Could I have gotten a better deal when overseas? Of course..but piece of mind was my deciding factor. Glad I had my Euros in advance and no worries when I set sail. YMMV. Link to comment Share on other sites More sharing options...
bunnyrab Posted June 15, 2014 #58 Share Posted June 15, 2014 Check your local bank. Our Scotiabank always seems to have US$, Euro and British Pounds on hand to 'sell'. I bought some Euro before our Med cruise last year. They do charge a fee, but on 100 Euro, it wasn't too bad, and I like to have a bit of cash just in case it is difficult to find a working ATM. Believe it or not a teller at BMO told me she heard from another customer it was better to purchase at our airport money exchange Travelex. WRONG I found out. Called telephone banking and they quoted me a rate of l.532566 and closing was 1.4696 so that's only about .06 per E. $1,000.00 Cdn. would give me 652E. Way better than 610 from Travelex. .06 isn't too bad considering we pay .03 to buy 1 U.S. $ and we would be charged $5.00 every time we used the ATM. Our bank has such great service. Was transferred to local branch. Told had to come in and order and pick up another day. Pouring rain out. Decided since oil up our dollar might go up and the E could drop a bit. Wouldn't that be great. Will see next week. Heather. Link to comment Share on other sites More sharing options...
Rare puppycanducruise Posted June 16, 2014 #59 Share Posted June 16, 2014 Believe it or not a teller at BMO told me she heard from another customer it was better to purchase at our airport money exchange Travelex. WRONG I found out. Called telephone banking and they quoted me a rate of l.532566 and closing was 1.4696 so that's only about .06 per E. $1,000.00 Cdn. would give me 652E. Way better than 610 from Travelex. .06 isn't too bad considering we pay .03 to buy 1 U.S. $ and we would be charged $5.00 every time we used the ATM. Our bank has such great service. Was transferred to local branch. Told had to come in and order and pick up another day. Pouring rain out. Decided since oil up our dollar might go up and the E could drop a bit. Wouldn't that be great. Will see next week. Heather. Wouldn't it be great if our dollar went up BEFORE you buy foreign currency. :) I tend to buy a few hundred Euro (or, British Pounds for our trip next year) about once a month. That way, if the price is good, I get a better deal. And, my bank account doesn't get hit too hard all at once. They always seem to have a few hundred on hand, but if the denominations are not right, I wait until my next visit to the branch. Don't forget to order a variety of denominations, not all places like 50 and 100 Euro notes. Have a great cruise. Link to comment Share on other sites More sharing options...
puffy Posted July 10, 2014 #60 Share Posted July 10, 2014 Do they have BNL D'italia ATM machine in Rome airport? BOA charge 3% exchange fee and it is still cheaper than I exchange 1000 before I go. Link to comment Share on other sites More sharing options...
Rare countess5 Posted July 24, 2014 #61 Share Posted July 24, 2014 Leaving for Mediterranean Cruise in September, went to my TA today and asked where she buys Euros before she goes. I wanted some Euros in the pocket. She said she could buy them for me. The rate was 1.413, $500 Euro $706.50. Went to my bank for ATM fees and exchange rate, only $5 per transaction no percentage and the current rate is 1.4388. There is a 3% fee if I use my debit/credit card for purchases. won't do that I use Amax. I think I may get more Euros from my TA before I leave? Does that make since? :confused: Link to comment Share on other sites More sharing options...
Rare Hlitner Posted July 24, 2014 #62 Share Posted July 24, 2014 (edited) The official rate today is about $1.347 for 1 Euro. If we were getting Euros from an ATM it would cost us about $1.365. So make your decision accordingly. Hank Sent from my iPad using Forums Edited July 24, 2014 by Hlitner Link to comment Share on other sites More sharing options...
lesley_willis1971 Posted July 25, 2014 Author #63 Share Posted July 25, 2014 The official rate today is about $1.347 for 1 Euro. If we were getting Euros from an ATM it would cost us about $1.365. So make your decision accordingly. Hank Sent from my iPad using Forums So where can we go to purchase euros at this rate? Sent from my iPhone using Forums mobile app Link to comment Share on other sites More sharing options...
Rare countess5 Posted July 25, 2014 #64 Share Posted July 25, 2014 The official rate today is about $1.347 for 1 Euro. If we were getting Euros from an ATM it would cost us about $1.365. So make your decision accordingly. Hank Sent from my iPad using Forums So help me out on this please, my bank quoted me an exchange rate of 1.4388. Is that if i purchased from them here in the states? what you quoted would be what is used in an ATM exchange while in a country? :confused: Appreciate the help. Link to comment Share on other sites More sharing options...
lisiamc Posted July 25, 2014 #65 Share Posted July 25, 2014 So where can we go to purchase euros at this rate? Sent from my iPhone using Forums mobile app Any bank-owned ATM in the Eurozone will give you the same exchange rate on a given day, very similar to the interbank rate, as Hank illustrates above. Link to comment Share on other sites More sharing options...
Pet Nit Noy Posted July 25, 2014 #66 Share Posted July 25, 2014 (edited) So help me out on this please, my bank quoted me an exchange rate of 1.4388. Is that if i purchased from them here in the states? what you quoted would be what is used in an ATM exchange while in a country? :confused: Appreciate the help. Since you're trying to be informed about the cost of paying for your expenses in a foreign currency, I hope you're also investigating whether any of your existing credit cards waive the cost of making charges in a foreign currency. Since we use our credit cards whenever possible, we could be wasting a lot of money if we had to pay a fee every time we charged in GBP or Euro or [insert favorite currency here]. Some credit cards offer the benefit no-fees on foreign charges. Edited July 25, 2014 by Pet Nit Noy Link to comment Share on other sites More sharing options...
Host Star Posted July 25, 2014 #67 Share Posted July 25, 2014 So help me out on this please, my bank quoted me an exchange rate of 1.4388. Is that if i purchased from them here in the states? what you quoted would be what is used in an ATM exchange while in a country? :confused: Appreciate the help. your bank will probably also charge you a shipping charge.... I know Bank of America doe Link to comment Share on other sites More sharing options...
Rare countess5 Posted July 25, 2014 #68 Share Posted July 25, 2014 Since you're trying to be informed about the cost of paying for your expenses in a foreign currency, I hope you're also investigating whether any of your existing credit cards waive the cost of making charges in a foreign currency. Since we use our credit cards whenever possible, we could be wasting a lot of money if we had to pay a fee every time we charged in GBP or Euro or [insert favorite currency here]. Some credit cards offer the benefit no-fees on foreign charges. We use American Express Platinum which I have to check but when we were in Italy before with Gold we had no issues. The credit card will be used for purchases but all of the private tours we have booked ask for cash at the end. Want to get the best rate and the best access to the cash. Link to comment Share on other sites More sharing options...
Rare countess5 Posted July 25, 2014 #69 Share Posted July 25, 2014 your bank will probably also charge you a shipping charge.... I know Bank of America doe You are referencing a shipping charge if I purchase ahead of time here in the USA. I agree. Use of ATM is just $5. I was wanting to confirm Hitner's comment about the rate. Is what he is quoting and can vary based on the day what an ATM exchange rate will be? Got to love these boards for info!! Link to comment Share on other sites More sharing options...
Host Star Posted July 26, 2014 #70 Share Posted July 26, 2014 You are referencing a shipping charge if I purchase ahead of time here in the USA. I agree. Use of ATM is just $5. I was wanting to confirm Hitner's comment about the rate. Is what he is quoting and can vary based on the day what an ATM exchange rate will be? Got to love these boards for info!! i was charged a shipping fee of 7.50 which covered euros, liras and kunas as I ordered them all at the same time.... Link to comment Share on other sites More sharing options...
CruiserBruce Posted July 26, 2014 #71 Share Posted July 26, 2014 (edited) The rate of 1.365 will be the rate charged by the ATM. Plus any fee your home bank charges. As mentioned, some US banks will be adding a delivery charge, or a handling fee of somewhere in the $7.50 to 12.50 range, in addition to quoting you an exchange rate of, as mentioned above, about 1.43. This is for your bank to get you euros here in the US prior to your departure. So many banks are double charging, and can cost you close to 10% above the European ATM rate and costs. This was the final straw for us, and we switched to using European ATMs. That is what some many of us keep saying an ATM in Europe is the way to go. Edited July 26, 2014 by CruiserBruce Link to comment Share on other sites More sharing options...
Rare countess5 Posted July 26, 2014 #72 Share Posted July 26, 2014 The rate of 1.365 will be the rate charged by the ATM. Plus any fee your home bank charges. As mentioned, some US banks will be adding a delivery charge, or a handling fee of somewhere in the $7.50 to 12.50 range, in addition to quoting you an exchange rate of, as mentioned above, about 1.43. This is for your bank to get you euros here in the US prior to your departure. So many banks are double charging, and can cost you close to 10% above the European ATM rate and costs. This was the final straw for us, and we switched to using European ATMs. That is what some many of us keep saying an ATM in Europe is the way to go. CruiserBruce: Thanks for the clarification, Now I understand how it works and my bank charges $5 per withdrawal. I have an $800 US a day limit so won't have to hit the AtM a lot. Link to comment Share on other sites More sharing options...
Girr Posted July 26, 2014 #73 Share Posted July 26, 2014 CruiserBruce: Thanks for the clarification, Now I understand how it works and my bank charges $5 per withdrawal. I have an $800 US a day limit so won't have to hit the AtM a lot. Just remember that while your financial institution has set an $800 US a day limit that doesn't mean the ATM you're using will allow you to pull that much. I've never had a problem pulling my full limit from an ATM at a bank, but in some locations I have been limited to around 300 to 400 euros/pounds. In these instances I've simply reinserted my card and withdrew the remainder I needed, but then you'll be hit with another bank fee (if applicable). It's only happened a few times, but it's something to keep in mind. So when using an ATM I normally pull my daily limit - if allowed or the max the machine will allow. Unlike the states I find myself using "cash" a lot more than my credit card. Toward the end of my trip I start adjusting my withdrawals based on the remainder of the trip. Also, keep in mind for future trips if you anticipate needing a large sum after arriving (pulling euros to pay for an apartment rental or B&B) your financial institution normally will raise your daily withdrawal limit. I often have them to this, BUT I only have the limit raised on a designated day(s) as an added safety precaution. Barbara Link to comment Share on other sites More sharing options...
puffy Posted August 1, 2014 #74 Share Posted August 1, 2014 if you have wells fargo bank, the exchange rate is 1.409 yesterday, it costs $704 to get 500 euros. If ATM in Rome charge you 3 % plus $5 fee, it comes out about the same with the exchange rate 1.36. Link to comment Share on other sites More sharing options...
CruiserBruce Posted August 1, 2014 #75 Share Posted August 1, 2014 if you have wells fargo bank, the exchange rate is 1.409 yesterday, it costs $704 to get 500 euros. If ATM in Rome charge you 3 % plus $5 fee, it comes out about the same with the exchange rate 1.36. The ATMs in Europe typically charge one percent over the market rate. Banks here charge around $5 per ATM use. If you go to a bank like Wells Fargo to get Euros, they will charge you a rate like 1.4, plus a $7-12 delivery/service/handling charge. That makes it closer to 10% above the European ATM fees/costs. Link to comment Share on other sites More sharing options...
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