Dollar to Euro currency exchange

[sldcruiser]

We leave for an Eastern Mediterranean cruise in Sept. I've watched the exchange rate for dollar to euro drop and now it's started to rise again. I plan to get most of my money from ATMs or use a credit card, but wanted to change some money before we leave the US. Any fortune tellers out there who can predict if it will continue to rise or drop again before Sept? I'm not gonna worry about it either way, just wanted to know what some of you may think.

[Keith1010]

I would not try to predict. In general we use the ATM machine to obtain money and we use a Capital One Credit card that does not tack on additional rates for charges made overseas.

 

Keith

[grvdggr71]

I'm not an expert, but based on my knowledge of the situation there is no reason to think there would be a dramatic rise in the value of the Euro. The main problem is a number of member states in the EU (particularly Greece and Portugal, and to some extent Spain) are having bad credit problems. These problems have yet to be fully resolved, and there is no breaking news to suggest the problems will go away any time soon.

 

If it were me, I would wait and use the ATM when I get there to get the best rate with minimal conversion fees.

[chipmaster]

Just be happy, nothing can compare with the rates I had two years ago.

 

IMHO if you change a little now any savings even if it was to go up will be eaten away in the bank fees for domestic exchanges. ATM is the way to go unless you are in need of a lot of cash for private tours.

 

We leave for an Eastern Mediterranean cruise in Sept. I've watched the exchange rate for dollar to euro drop and now it's started to rise again. I plan to get most of my money from ATMs or use a credit card, but wanted to change some money before we leave the US. Any fortune tellers out there who can predict if it will continue to rise or drop again before Sept? I'm not gonna worry about it either way, just wanted to know what some of you may think.

[financialgrl]

Buying other currencies beforehand would have been expensive (my bank could do it within a 2 day timeframe but had a surcharge along with a 3% conversion rate fee).

 

So I left for the AP with $25(US) in my pocket for breakfast before my early morning flight and used ATM cards to pull out euro/pound and it worked great. Cheaper and very convenient. Just make sure to find out if your ATM card has a daily withdraw limit and remember a full 24 hours usually has to pass before you can withdraw money again. That's the reason I took 2 different ATM cards and 2 credit cards (that were issued by different banks). Also, helps if there is a hold placed on your card, you have another available until you can straighten it out - friends had that happen even though they contacted all their card companies before they left.

[gebo]

my bank charges a $5 fee for processing and the rest is gratis. I am concerned that the ATM may be taken out of savings instead of checking and at that bank I only keep checking and minimal savings is there a way to find out how they process before hand?

Also I've read that the GK banks only take 4 digit access numbers (you knew that).

I take dollars, euros, and use a card when I need to. I arrive Athens on Friday and board small ship on Monday, so I'm concerned about accessibility of money over the weekend.

[jdblakeslee]

I'm in the minority, I know, but I like some euros in my pocket before I leave the US. Period. I don't have a problem using ATM cards in Europe or credit cards, etc. But, I like to have some euros to start out the trip.

 

I bought euros at my local bank a few weeks ago when the exchange rate was around $ 1.25. My bank charges $ 5 per transaction but waived it for us since we've banked with them forever.

 

Whatever I don't use overseas, I keep in our safe for the next trip or for gifts. You'd be amazed at how many friends love having a 20 euro bill along with a note to "have a glass of wine on us" for the day they arrive in Europe!

 

Jennifer

[hubofhockey]

I'm in the minority, I know, but I like some euros in my pocket before I leave the US. Period. I don't have a problem using ATM cards in Europe or credit cards, etc. But, I like to have some euros to start out the trip.

 

I bought euros at my local bank a few weeks ago when the exchange rate was around $ 1.25. My bank charges $ 5 per transaction but waived it for us since we've banked with them forever.

 

Whatever I don't use overseas, I keep in our safe for the next trip or for gifts. You'd be amazed at how many friends love having a 20 euro bill along with a note to "have a glass of wine on us" for the day they arrive in Europe!

 

Jennifer

 

I don't think you're in the minority. We bought enough euros to cover our first couple of days "just in case" something went wrong. It's worth a few extra dollars as insurance to make sure you have euro cash and get a machine at our convenience.

[mrscruisequeen]

We are planning to take some Euros with us when we go to Europe in the fall.

At home in the US, I can withdraw $300 per day.

Does anyone know how much you can withdraw at the ATM's in Europe each day.

Thanks, Jeanne

[hubofhockey]

We are planning to take some Euros with us when we go to Europe in the fall.

At home in the US, I can withdraw $300 per day.

Does anyone know how much you can withdraw at the ATM's in Europe each day.

Thanks, Jeanne

 

Not sure about by day, but many in Europe limit you to €250 per withdrawal. I guess you could do another withdrawal from a different bank, if needed.

[Susan-M]

Not sure about by day, but many in Europe limit you to €250 per withdrawal. I guess you could do another withdrawal from a different bank, if needed.

 

You can actually do multiple transactions at the same ATM, up to the limit of your own card. i.e. when we needed more than the 200 or 250 euros that the ATM would give in one transaction, we would just do another one at that same ATM. The only limit was the one set by our bank ... $1000 Canadian or the equivalent of that amount in other currencies.

 

Jeanne, you might want to ask your bank to increase your per day limit while you are away (if they will do it). Also, having cards from two different banks is a good idea just in case you run into trouble with getting one to work, or need a higher daily limit ... e.g. limits of $500 on two accounts.

[TLCOhio]

Jeanne, you might want to ask your bank to increase your per day limit while you are away (if they will do it). Also, having cards from two different banks is a good idea just in case you run into trouble with getting one to work, or need a higher daily limit ... e.g. limits of $500 on two accounts.

 

Agree strongly with Susan that it's important to check with your local bank on their specific and most current policies. In the last year, many of these policies and practices have been adjusted. And, new costs and fees added, all depending on your specific bank.

 

Second, it's impossible to know where the value of the euro is headed. Two years ago, the euro was nearly $1.60. It dropped down to only $1.19 a couple of months ago and is now at nearly $1.30. Right now, per the Wall Street Journal, the euro is at $1.2985. There were "experts" predicting or hoping that the euro would drop down to being equal in value with the dollar. That did NOT happen and does not look to be headed there to that extreme point for now.

 

THANKS! Enjoy! Terry in Ohio

 

For more details, great visuals, etc., from our July 1-16 Norway Coast/Fjords/Arctic Circle Silver Cloud experiences:

http://boards.cruisecritic.com/showthread.php?t=1227923