Is it better to buy Euro's now or in July for our vacation?

Question

Is it better to buy Euro's now or in July for our vacation?

Answer 1

I usually have some $-USD with me and then get Euro in the destination country via an ATM. I have never had a problem in Western Europe (UK, France, Italy, Spain, Germany, Austria). I use ATM cash withdrawl from checking rather than credit card cash advances. I use credit cards for train tickets, food, and hotels (some hotels require cash and there can be limits on the amount of cash withdrawn from an ATM per day - plan ahead!)



Check with your bank as there may be an agreement to waive ATM fees in Europe. For instance, Bank of America has agreements with the following European banks: Barclays, BNP Paribas, Deutsche Bank, Scotiabank, and Westpac so you avoid ATM fees. You may still pay a "currency conversion" fee. This is something new that I noticed on my last trip to Germany, Austria, and Hungary in Oct. 2006.



Happy travels!

Answer 2

Buy half now and half later since you cant predict the EURO, but going by what I have seen the dollar has gained a lot of strength in the last few months. I would hold out till I leave, in which case use your credit card you will get the most current exchange rate. When you change money before they take a percentage. You will probably do better by waiting till july and direct withdrawl from machines in Italy. Based on the economy so far I bet the euro will be worth about 1.15 cents american, in whuch case its about 1.20 now, so you will save 5 cents on the dollar.

Answer 3

Wait until July.



No matter when you buy euros, you won't get the exchange rate you see in the newspaper or currency exchange websites like xe.com. You'll pay a little more. The rates on xe.com and others are reserved for brokerage houses where millions of dollars are exchanged daily.



Before we left for Europe recently, I went to our local American Express office for some euros. They charge a flat $3 fee. Save the receipt. If you have extra euros, they'll exchange them without the fee. Check with your bank as well. You won't regret having a 100 euros with you when you arrive.



There is a minimum of 1% conversion fee by VISA for overseas charges - there is no way to get around it. Depending on which Visa credit card you have, you may have additional surcharges. I know Capital One doesn't have any additional charges.



The best exchange rate you will get in Italy or any European country is to use your Visa/debit card for atm cash withdrawls and your credit card for major purchases/dinners...



Check with your bank to see if they have any atm access fees overseas, in addition to the ones you may be charged by the atms there.



Make sure you have a 4 digit pin number.



Notify your bank and credit card co's. of your intended trip so they don't freeze your account for suspected theft.



All money withdrawn from the atm is from your checking account.

Answer 4

Hey there. Well since currencies fluctuate many times on a daily basis, I think its a bit too premature to buy your EUROS.



I normally, pick up about a hundred dollars worth of a currency before I go to that country and then use my credit card wherever possible, since the exchange rate is a bit better. You'll need the few bucks for tips, and incidentals.