Tuesday, March 6, 2012

Converting money for a trip to Europe?

Say I'm planning a trip to Europe in April (3-4 months away), What would be the smartest thing for me to do concerning spending money while I'm there. I plan to be riding the Eurorail quite a bit so I will be in many different countries.Converting money for a trip to Europe?
Many countries are all using Euros. Take your ATM card and use an ATM outside a bank in Europe for the best rates. Traveller's checks are extinct and hard to cash.
Normally I would say buy euro,s now, but with the dollar exchange so bad, you would be better waiting till closer to your departure date and get a better exchange rate. The dollar won,t slide anymore, the central banks will intervene and the rate will improveConverting money for a trip to Europe?
Get Euro for better exchange rate. In ATMs you will get only the lowest exchange value.
The exchange rate has been falling steadily. I would take at least 500 Euros per 14 day period, and a credit card (Visa or even better American Express), and try to charge as much on the card(s) as possible.
The answer is easy. Most countries in Europe have the Euro as their currency. I assume that you come from the States. That means that your dollar is worth exactly the same in all the countries that have the Euro as their currency. So it doesn't matter in which country you convert your dollar.

There are countries in Europe which don't have the Euro. Most notably, England.

See for map on the wikipedia page.
ATMs normally offer the best rates.
Malls that offer currency conversion services give best rates. They know you'll turn around and spend your money there, hopefully. ATM's charge either % or 1 time fee each time. Credit cards charge 3% at least. Banks don't give best rates.

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