Currency

ENMcD

Does anyone know if it works out better to change euro to dollar and travel with cash or use my debit card over there? There would be no charges as it’s a graduate account. If I were to use my card do I get the option to pay in euro or dollar?

dennyk

Depends entirely on the rates your bank offers on the card (plus any foreign transaction or currency conversion fees) vs. the rate they offer on withdrawing USD from your account. Unless your card has big foreign transaction fees, though, they'd probably be as close to the same as to make no real difference, and the convenience and security of using your card would be a plus compared to wandering around with a big wad of cash.

For POS transactions, you'll generally always be charged in USD, there won't be an option to pay in Euro directly. Some ATMs might give you the option for cash withdrawals, but it's generally always better to make the transaction in USD rather than let the ATM convert it to Euro, as they will likely screw you on the exchange rate.

coylemj

dennyk wrote: »

For POS transactions, you'll generally always be charged in USD, there won't be an option to pay in Euro directly. Some ATMs might give you the option for cash withdrawals, but it's generally always better to make the transaction in USD rather than let the ATM convert it to Euro, as they will likely screw you on the exchange rate.

+1 except for 'likely', I would substitute 'always'. If you let a vendor (hotels often try it on) or an ATM do the conversion, you will be royally screwed.

Even Amazon can't beat the credit card rate. They offer to bill me in Euros when I'm buying from Amazon UK, I always decline but frequently make a note of the euro amount they would have billed me and it's always more than what appears on my credit card bill.

jack presley

Get a Revolut or similar card.

ENMcD

I’m thinking to use it mostly for shopping so be pos and then bring cash for food and smaller bits. I believe with graduate account there normally don’t charge the fees