Credit/Debit cards in Europe (best, country, place, pay)

[skrizzle]

I am traveling there in 6 weeks to London, Paris, Prague, and Amsterdam.

We will be walking or using public transport when there. I have a capital one credit card I was going to use as they don't charge any fee, and for cash I was going to just withdraw money from bank account.

My first question is will the fact that these cards just use the magnetic strip and have no chip cause me problems anywhere? We will be staying online in the cities, not traveling out anywhere else.

The other question is, should I get some of my money converted to foreign currency in advance instead of just withdrawing it from an ATM every few days while overseas?

Thanks!

[kevxu]

Originally Posted by skrizzle

....The other question is, should I get some of my money converted to foreign currency in advance instead of just withdrawing it from an ATM every few days while overseas?

Thanks!

I live in the EU, but my income comes from the U.S. I have consistently found in the past year, year and a half that my American banks screws me if I change my dollars into euros in the U.S. I do better changing the dollars in the EU, and this surprises me. But it has consistently been my experience.

Therefore, I would suggest getting a relatively small amount of euros in the U.S. I have no experience in British pounds.

[skrizzle]

Thank you. What about the magnetic strip will that cause any problems with the cards not having chips? Say out to eat or with atms.

[rsm201]

You should be able to get cash from atms but most stores switched from using the strip to only accepting the chip, so that might be a problem. However, there's always an atm nearby so I'm sure you'll be fine. (I'm from Amsterdam, so that's how I know).

[elnina]

I didn't had any problems with my "magnetic" credit cards in Europe. Capital One is great. Make sure you have one of each - Visa and MC. I never exchange any money in the US, you can do it at the airport, banks and exchange stores, the rate is better. ATM works fine.

[JL]

I plan to exchange my U.S dollars for Euros once i arrive in Europe, but from the earlier post about exchanging for Euros in the U.S....where would someone get Euros while in the U.S? I don't think they have that option at my local bank? Then again, i bank with a credit union.

[elnina]

^^^ in places like:
Home
info: Currency Exchange - Info on Currency Exchange
The best rate, however you will get at destination.

BTW: Do not forget to call your CC company and tell them you are traveling. I forgot to do so, and they stopped the CC activities thinking the card was stolen (anti-fraud systems). VERY unpleasant experience, if you depend on your credit cards. Also check your daily withdrawal limit in US funds. Make sure your ATM card will work in Europe. It needs a Visa, Mastercard, Cirrus, Maestro or Plus logo on it. Ask your CC company for toll free /collect call number in case you have any problems. Do not hold both cards in the same place. In case you lost one, you still could use the second card.

For up-to-the-minute currency conversions, go to www.xe.com.
Avoid airport exchange kiosks, they have the worst rates. If you absolutely need to get some local currency, try to exchange minimum needed till you can go the places mentioned below.

In Prague look for this: http://www.pragueexperience.com/places.asp?PlaceID=894
The rates at eXchange are generally better than those offered by the banks, and much better than most of the currency exchange booths.
In Paris: http://www.multi-change.com/infos/in...-paris?lang=en
http://www.yes-change.com/ tell them you want the "Yes change" rate from the Internet
On rue Vivienne, a small street full of exchange agencies near métro Bourse, or on Rue Rosiers at Marche Clignancourt - good rates.
You can also draw money direct from ATM
Amsterdam: The best place to change your money is in the office of GWK. Remember: Verkoopt means Sell, while Koopt means Buy. And again, if you can, use ATM ( remember you need 4 digit pin, some places do not accept 5 or 6 digit pin)
London: Try Marks and Spencer, or any branch of the Post Office. They have usually the best exchange rates going with no commision.

Note: Schwab offer refunds of any fees on ATM machines worldwide and their High Yield accounts require no minimum balances and don’t charge monthly fees. Cunning travellers could open an account just for travel, and "charge it up" with cash from your regular account before you go.

Have a happy trip!

[azoria]

Here's what I did while traveling overseas:

Arrived at the destination with approximately $50 to $100 in cash, just in case of emergency.

Notified my US bank/credit union that I would be traveling and had my daily ATM withdrawal limit raised. Upon arrival in the country I went to the nearest safely located ATM and withdrew the maximum dollar equivalent of the of that foreign currency. (my limit was $500 per day)

I paid cash for purchases as much as possible, including accommodations.
Easy peasy.

ALWAYS try to avoid exchanging currencies anywhere, period. Currency exchange fees are robbery.

ALWAYS spend all foreign currency before leaving the country, especially coins. Coins cannot be exchanged. If need be, drink up the last of your foreign currency in the airport bar. Get rid of it.

One problem I had in many European locations, including London, was that if I used plastic to pay for something the register receipt printed off my entire card number and expiration date. Not good, me no happy. Three copies of the receipt an all of them had my entire card number printed on them. Cash is king for me.

And also remember, the UK is not on the Euro and neither is the Czech Rep. So you're going to be using at least three different currencies on your adventure. Take_pocket_calculator.

[elnina]

^^^ yes! Something like this: Mobile Currency Tools | OANDA or Top 5 Currency Converter Apps: Exchange Rates for Mobile » Phone Reviews
very useful!!

[JL]

Good info gals. Also, i just thought about this earlier today. Check to make sure your cell phone international roaming is activated before you go. Just in case your credit card gets stolen abroad and you need to call your credit card bank to notify them and also calling home to the states for any reason.