<p>Keeping with topics of foreign travel -
What is the best way to exchange currency? We are traveling to Spain for Spring Break. We belong to a local credit union. We have BoA and Capital One credit cards. What about travelers checks?? How much is safe ??</p>
<p>I would just use your ATM card at any bank to get local currancy.</p>
<p>In my experience, you will usually get the best exchange rate using a credit card, especially Amex. On my last trip to Europe, we got local cash about $200 per time from ubiquitous bank machines, using our regular debit card. We did much better on the exchange rates than our friends who were travelling with us did; they had bought a lot of the local currency before leaving. Exchange specialists tend to have terrible rates and high per-transaction fees, too.</p>
<p>Traveller’s Checks are fairly safe, but they mean that you will be doing lots of small cash currency transactions, and that means very unfavorable rates.</p>
<p>I wouldn’t worry much about acceptance. Visa, MC, and Amex are all over Western Europe. If you are spending a lot of time in the sticks, you may need more cash, but probably not for your hotel, etc.</p>
<p>Depending on how much you anticipate spending, it’s worth calling your bank, credit card companies, etc. to ask exactly how they deal with currency conversion.</p>
<p>For cash, I agree with just using an ATM once there. Make sure though that your ATM card will work in Europe though since some banks handle the transaction differently and won’t work there even if they do here. My D ran into this issue in Scotland and I needed to get the bank (Credit Union) on this end to make some speedy changes to her account before it would start working. Fortunately all was well within a couple of days.</p>
<p>For most purchases just use credit cards though. They’re widely accepted.</p>
<p>I think traveler’s checks are a thing of the past. I haven’t bothered with them in my last several trips out of the country.</p>
<p>ATM is by far the easiest. If you have not used your card much (especially in places far from home), it is worthwhile to call the company to let them know of your upcoming trip. I’ve heard quite a few stories of people having their cards blocked when traveling overseas for the first time because the credit card company was concerned about a possible identity theft issue.</p>
<p>Oh, and one other thing–I guess the numbers on the keypad in European ATMs are in a different order (top and bottom row switched). So be careful when entering a PIN, because if you do it wrong a couple of times that will also trigger a block.</p>
<p>Nobody uses travelers checks anymore. Go the ATM route. Pick up your first bunch of cash at the airport. Definitely notify the companies of all your credit and debit cards that you will be using them overseas. BTW having 2 debit cards is a good plan - from different accounts is even better. (It’s bad if they get eaten by machines.)</p>
<p>I’ve travelled to Europe three times in the last year and once to Mexico. I agree with the above posters. The easiest way is to use your ATM card for cash. It would be most helpful if you had a Visa and a Mastercard atm card because some machines (especially on the roads) take only one, but all banks took both. It was the best exchange rate, short of using your credit card for purchases. It would be helpful to have a few Euros on hand when you land, but there should be an ATM at the airport. This wasn’t an issue for me since I travel often so always have some left over from the last trip. THe worst exchange rates were at banks here before you leave, or at those exchange bureaus in cities and at the airport.</p>
<p>If you are going to squeek out great rates, look into buying pounds. The dollar is getting hammered.</p>
<p>We used ATMs a lot. Smaller towns in Germany don’t accept credit cards except at gas stations, and some restaurants. They wouldn’t have a clue what to do with travelers checks. (They don’t use regular checks, either.) If you use your credit card in the ATM, make sure you know the pin number. My sister tried to use her company credit card on a parking garage in Switzerland, and couldn’t because she didn’t have a pin for it.</p>
<p>Be extra careful around the ATM. Pickpockets have been known to stake them out, going after the tourists with the fat wallet.</p>
<p>It is VERY important for anyone going abroad to alert your bank that you will be using your ATM card in other countries, and also the credit card companies for the cards you plan to use. If there is unusual activity on your card (ie: being used out of the country) and they have not been alerted, they may not authorize transactions that you want to make while vacationing. This was especially critical when I went to visit our D while she was studying abroad last year. DH stayed home with S2, so we let the credit card company (I only took a VISA, and my ATM card) know that I would be overseas using it, and my DH would be using it in the US.</p>