Discussion of Forex Trading and Currency Trading

Where's the best place to exchange currency?

I'm traveling to Europe for a month and need to exchange USD for british pounds, euros, and swiss francs. I can exchange currency at my bank but I'm wondering if there's a better way to do it.
Anyone travel frequently that can help me out?
Are those ATMs in the countries I'm visiting?

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This entry was posted on Friday, May 30th, 2008 at 1:16 am and is filed under Currency Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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2 Responses to “Where's the best place to exchange currency?”

  1. Dawn X Says:
    May 30th, 2008 at 1:16 am

    I have found that the best exchange rates can be found at an ATM! Just use your regular bank card at the ATM — You will have to pay a couple dollars fee at the ATM and through your bank, but you should get a better rate!

    Also, if you are travelling to meet a friend in Europe (or anywhere else!) see if your friend can exchange the money for you through their bank, you will get a good rate that way, also.

  2. SUE Says:
    May 30th, 2008 at 1:16 am

    Here's the best plan for you.

    You get only enough of the currency for the first place you'll be for a day or two, take your credit cards (check first with them to be sure you know which cards have the lowest exchange fee) and at least one ATM debit card, to draw your money directly from your checking or savings account.

    Those cards will get you the best exchange rate, and if you do it right, the lowest exchange FEEs. (1- 3%). You need to know what your ATM card will charge you per use…some are high, so you want to get larger amounts of cash each time, and not need to use them MORE times. DO NOT use your credit card to get cash unless it's an extreme emergency…they charge a huge fee for cash advances.

    Your ATM card and the machine have to match up the brand, so, if your card has a plus logo…you find a machine with a plus logo, etc.

    It's easier this way, and generally cheaper, and there are no hours…beware of exchange booths: some charge high fees and give poor exchange rates, but when you use your cards, you can be assured of the best of both…

    Capitol One has one of the best fee structures, if you need to get cards.

    Good idea to keep copies of the card #s and international 800 #s in a seperate place, in case of loss. Keep it with the copies of your passport #.

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