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Exchanging money currencies

18 Apr 2013 Ellie asked


i was wondering which option would be best and get the best rate for my buck:

exchange all of my dollars to euros by cash OR use my credit card to make purchases?

thanks! :)

  • Read the responses 10 responses so far
  • 19 Apr 2013 Pedro said


    Great question! I would love to hear from well-traveled people! :)

  • 20 Apr 2013 RJ1817 said


    I used both. I brought 100 EU for each day I was there and used my credit card for big purchases

  • 21 Apr 2013 CanadianWhiskey said


    Get a credit card that doesn’t charge extra fees for currency exchange and use it for purchases in stores.
    My bank has a flat fee for ATM withdrawals, so I just took out money in Euros when I needed it. check to see if your bank has something similar.

  • 21 Apr 2013 Ellie said


    which bank are you with canadianwhiskey? im with TD and they charge $5 per debit withdrawls : /

  • 21 Apr 2013 CanadianWhiskey said


    I’m with pcfinancial (at the time it was $2.50 per withdrawal). $5 per withdrawal is not bad when you compared to the exchange rate(the exchange places sometimes charge you lower rates, or a fee for exchanges anyways) and the risk of carrying lots of cash. I think I took out cash maybe 2 times during my trip. If you are traveling for longer periods of time, i’d ask the bank if they have a monthly unlimited withdrawal fee, then you don’t have to worry about carrying cash as much. .

  • 21 Apr 2013 RJ1817 said


    Don’t use your debit card overseas. you’ll get charged a lot

  • 22 Apr 2013 Ellie said


    how much did you take out per day? and im spending a month in europe

  • 22 Apr 2013 CanadianWhiskey said


    I did not take money out everyday. I took out as much as I thought I would need for the next week or two. you actually don’t need much cash except for meals and markets. excursions you pay directly to your tour manager so you don’t need to hold it all the time. Like i said, my bank charged $2.50 per withdrawal, which I think is reasonable and not “charged a lot”. The average expenses are 100 euros a day, but it depends on your spending habits. you will learn as the trip goes on , how much you need.

  • 23 Apr 2013 ari747 said


    Most banks have huge fees when using your debit card and ATM withdrawals also have around $3 fees + % of your total so DONT use that! I recommend exchanging a big sum of cash depending on how long you’ll be traveling, for daily pocket money (I got by on 50 euro a day) and use a credit card that does not charge any fees beyond the current exchange (I used Capital One Platinum) for bigger purchases.

  • 15 May 2013 Robin said


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This question was posted about almost 5 years ago. It has been discussed 10 times.

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