Going to America Money Options

PowerHouseDan

Hi,

Myself and my Gf are going to Florida next month and between us we will be taking about 3000 dollars. I am just wondering what would be the best option with regards taken money over? Bring over all cash and keep it in the saftey depo box? Bring some cash and use my laser card, but costs between 4.50 and 6.50 per transaction( What the story with exchance rate is it normal or are they more expensive) Its my first time to america and am a tad nervous with regards all the money.

blorg

Jesus don't bring it in cash are you mad.

When I was over (Georgia, New York, Boston) the ATM withdrawal charge was in the region of $1-1.50, it was NOT unreasonable. Max I saw might have been $2.50.

The ATM exchange rate is generally the best you will get, it is better than over the counter in a bank - it is a good rate and no commission.

Also if you have one, bring a credit card and use that as much as possible, cheapest way full stop (no per transaction fee at all.)

PowerHouseDan

I am with AIB does that make a diff?I will have a Laser card and a credit card only want to use the credit card incase i run out of money or something.

Didnt no the exchange rate was the same if not better than the bank that good to know, That just solved my problems anyway.

Thanks

blorg

I take it back, looking back at my statements there _is_ a commission, seems to be a flat 1% across the board with a €1.27 minimum and this is consistent between bank machines both across the US and indeed other non-Eurozone countries. (My card is also AIB.) Most of the US amounts are rounded but there are a few for 101, 202, 501USD etc. - I recall these were ATMs that told me in advance it was going to be charging me $1 extra as a transaction fee.

Exchange rate was reasonable, only 2c off the base rate* which is not a bad spread. So still, yes, go with the ATM card.

I'd clear your credit card balance and use that as much as possible- why not? It's the home of credit card debt, you'll fit right in. Only use cash where necessary. Far easier and you'll be carrying less cash. (Personally I use mine a lot but just make sure to clear my balance each month.)

*This is the rate you see in the newspapers, online etc., not what you will get in a bank which will have differing buy and sell rates.

keefg

PowerHouseDan wrote:

I will have a Laser card and a credit card only want to use the credit card incase i run out of money or something.
Thanks

Dan,

I am a regular visitor to the US and the easiest thing to do is bring 800/1000 cash with you for smaller day to day purchases (food, drink etc). And pre-load the rest onto your credit card to use for larger expenses (clothes, gifts, more expensive meals out etc).

The benefits of this are....

1) Not as much cash to worry about.
2) If you lose your card, it will be replaced by the bank.
3) Exchange rates on most credit cards are pretty good.
4) Anything you buy on the card will be insured if they are lost/damaged.
5) Everyone takes credit cards in US, much easier than searching around for an ATM that accepts your card.

Don't forget to keep a note of your credit cards somewhere safe (obviously not with the cards) and the emergency number if you are unlucky enough to lose your cards or have them stolen.

Wisesmurf

+1 for the credit card.

Forget about bringing alot of cash, the more you bring the more crap change you'll bring back with you.

What I did was load the card and get the GF as an additional card holder as an insurance for emergencies. If I lost my card I wouldnt be stranded, we could use the one in her name as backup.

Note: make sure to take the card off her when you get back and cut it up

Ruu_Old

Remember to bring your passport when you are going out to shop or buy anything with your card, you will need it for verification in some shops (not all though).

keefg

Ruu wrote:

Remember to bring your passport when you are going out to shop or buy anything with your card, you will need it for verification in some shops (not all though).

This is pretty much redundant now in larger towns & cities since the introduction of chip & pin, though maybe the case in some backwater one horse towns (think Deliverance :eek: )

Wisesmurf

keefg wrote:

This is pretty much redundant now in larger towns & cities since the introduction of chip & pin, though maybe the case in some backwater one horse towns (think Deliverance :eek: )

Not entirely true. I was in Chicago in July and I got I.D'd for my card on 2 purchases. Once I had I.D. the other time the retailer let me away with it by verifying the sig.

I didnt get chip and pinned once.

keefg

Wisesmurf wrote:

Not entirely true. I was in Chicago in July and I got I.D'd for my card on 2 purchases. Once I had I.D. the other time the retailer let me away with it by verifying the sig.

I didnt get chip and pinned once.

Wow, lucky for you they accepted your sig. I have had the complete opposite experience in New York & Vegas where I was handed the keypad to enter my pin number even though my card was a swipe version (this was last Oct/Nov). In both instances the cashier made me feel like I was from some sort of uninhabitable, disease infected, technologicaly retarded third world country 'coz I didn't have a chip & pin card.

They just gave a big sigh (like it was a tonne of extra work) and swiped the cards for me to sign (wasn't asked for any ID).

So there ya go OP, maybe driving licence will do - not a good idea to carry your passport around with you.

Wisesmurf

keefg wrote:

Wow, lucky for you they accepted your sig. I have had the complete opposite experience in New York & Vegas where I was handed the keypad to enter my pin number even though my card was a swipe version (this was last Oct/Nov). In both instances the cashier made me feel like I was from some sort of uninhabitable, disease infected, technologicaly retarded third world country 'coz I didn't have a chip & pin card.

They just gave a big sigh (like it was a tonne of extra work) and swiped the cards for me to sign (wasn't asked for any ID).

So there ya go OP, maybe driving licence will do - not a good idea to carry your passport around with you.

I had the complete opposite in Vegas lol.. they were like swipe...next....
No verification of any sort!

Vikings

I went to New York last year for a week and ended up bringing $1500 in cash with me. Never carried more than $500 on me at one time, left the rest locked up in the hotel but never had any issues.

If you have the money then why not just leave it in your bank, bring $5-600 in cash and then just use your card and pay it off when you get back? If you are going to 'load' your card you best make sure that the cash you load on it is covered in case your card is stolen or lost. Apparently not all cards will cover this so read the t's and c's.

Wisesmurf

all credit cards have fraud protection

blorg

keefg wrote:

5) Everyone takes credit cards in US, much easier than searching around for an ATM that accepts your card.

Using the credit card is very good advice- I wouldn't worry about being unable to find an ATM that accepts your card though, my experience was that they all did (e.g. Maestro card.) There is no need to convert and bring all the cash you think you are going to need for the entire holiday, just withdraw as necessary. This rule probably works for just about all of the developed world I would suspect.

dingding

Used the credit card for most of the transactions in the US.

I was never chip and pinned, I don't think they have that technology over there. Just signed the slips, shops looked for passport for larger items, never asked for passport in restrurants.

If possible bring 2 different credit cards, last time I was there AIB cancled the card because it eas one of the cards TJ Max compromised.

Would ahve been stuck in the states with no credit card. Also if you have a joint card with your partner, these generally have the same account no on them so if you loose one and cancel it, you also cancel the other one.

Luckily when AIB canceled the card I had a card from another provider to tide me over.

Ring your credit card companies before hand and tell them you are traveling to the US and the cities that you are going to visit, because if they think there are fradulant transactions they may have no way of contacting you, and may block your card.

Also if you are withdraw cash, because the costs are per transaction, always take out a few hundred dollars, would be very bad value to take out 20 dollars.

Enjoy the trip, you will have a great time.

bkehoe

Get used to swiping your card and signing on those electronic signature terminals - no chip & pin.

If paying for petrol/gas at an automated pump with your credit card, it may ask for your Zip code. 90% of the time, either entering '0' or a random zip code (e.g. your hotel/house) will work, but if it doesn't, you'll need to prepay in the store (they can bypass the zip code system if they've got brains - some don't!).