Euros How to handle?

[Mary229]

17 minutes ago, kenphy said:

Thanks so much -- I am actually a B of A retiree, but the 9 years since retirement have seen lots and lots of technology changes.  I truly appreciate everyone's help on this question.  And, yes, I do have a Chase card as well.

This is fairly recent.  You may need to order a new card for your account.  Mine were all upgraded in the past 9 months or so.  Not a fan of Chase but a big fan of their cards

[ldubs]

On 8/13/2022 at 8:02 AM, navybankerteacher said:

It also happens at railroad and metro stations where such cards are needed to buy tickets - unless there is a manned window (sometimes with a long line) you are out of luck.

 

I agree we can run into problems because of chip/pin usage in Europe. But, let's not imply that all unmanned kiosks require them.  They don't.   And, I'm not sure even if most require them.    It is actually not a very large problem at all and not something I worry too much about.   I agree it only needs to be encountered once to be a PITA.  That is why it is a good idea to always have some cash on hand. 

 

I actually wish we would adopt pin & chip universally here in the US.   

[wcook]

49 minutes ago, ldubs said:

I actually w

 

49 minutes ago, ldubs said:

actually wish we would adopt pin & chip universally here in the US.   

Chip and pin will be universally adapted in the US right about the time the rest of the world has abandoned it and gone fully contactless. 

[rkacruiser]

2 hours ago, Mary229 said:

Mine were all upgraded in the past 9 months or so.  

 

I believe all of mine that are affiliated with a bank have been upgraded with two cards being acquired by two different banks.  One transfer from bank to bank was seamless; one was not and was a PITA.  

 

None of my Chase cards are chip and pin; just chip.  (I have been a Chase client for years and I do like their services.  Don't care for their interest rates paid, however.)  

[ldubs]

46 minutes ago, wcook said:

 

Chip and pin will be universally adapted in the US right about the time the rest of the world has abandoned it and gone fully contactless. 

 

I was just getting used to tapping my card.  Felt like I was high tech!  Haha

[Fishboy1947]

On 8/13/2022 at 6:13 PM, Hlitner said:

One important tip.  When using a credit card in a foreign country always make sure the transaction is completed in the currency of that country.  If you are asked if you want it transacted in US Dollars, always decline and demand it be done in the local currency.  Having it done in US Dollars will always result in you paying more (sometimes as much as 10%).  This is part of a legal scheme often called "Dynamic Currency Conversion" and it is something to be avoided on both credit and debit cards.  

 

Hank

 

 

We were recently in Mexico. When we made a small purchase I questioned whether the credit card purchase was in $US or Mexico peso. I was told the double dollar sign, $$, indicated Mexico peso. The charge came through properly.

 

How are foreign currencies indicated on credit card transactions in other countries, particularly euros?

[CPT Trips]

On 8/13/2022 at 10:48 AM, Hlitner said:

That used to be a common topic on some of the CC boards.  Several years ago we would often have issues because of the common US issued signature credit cards.  But on our last few trips (including a 2 month trip to Europe this March-May) we have no longer run into that problem.   I imagine it does still happen, but not to us.   Where is can still be a problem is for those of us who rent/least cars and want to use gas pumps after hours when the pump may only accept a Chip/Pin card.

 

Hank

And in that scenario cash won’t work either

[Hlitner]

6 minutes ago, CPT Trips said:

And in that scenario cash won’t work either

Yep...tis true.  I once looked around for gas near FCO, at night, for nearly an hour until I finally found a gas station that had an attendant who could handle a signature credit card or cash.   However, things have improved.  I now have two chip/Pin cards :).  But many of those gas pumps will also work with a Debit/ATM card (those that have a Visa Logo) and its Pin.

 

Hank

[VMax1700]

12 hours ago, Fishboy1947 said:

How are foreign currencies indicated on credit card transactions in other countries, particularly euros?

The screen of the device with show either EURO/S in text or show the euro sign €

[iancal]

20 hours ago, wcook said:

 

Chip and pin will be universally adapted in the US right about the time the rest of the world has abandoned it and gone fully contactless. 

We are already contactless for most purchases under $200. or so.  Tap and go has been in full force for at least 3 or 4 years.   Covid made it the payment of choice for many vendors.

 

Over $200, depending on what limits the vendor sets, is chip and pin.  And has been for years.

[Hezu]

On 8/14/2022 at 10:21 PM, wcook said:

Chip and pin will be universally adapted in the US right about the time the rest of the world has abandoned it and gone fully contactless. 

Actually going fully contactless may never happen, already now Finnish legislation (and that might be derived from EU regulations) allows contactless payment only up to 50 euros and then requires that occasionally you have to enter the pin code even if the purchase would fall into category that could be paid also via contactless method. These restictions are of course there to make it less easy for thieves to use stolen cards.

[Heidi13]

On 8/14/2022 at 12:21 PM, wcook said:

 

Chip and pin will be universally adapted in the US right about the time the rest of the world has abandoned it and gone fully contactless. 

 

Although I've been using "contactless" for almost 10 yrs, we still need the chip/pin for purchases over the vendor's limit - with many being $200.

 

Since I don't make too many large purchases in a store these days, I've only had to use my pin a couple of times this year.

[WVU_Neal]

I was in London and Amsterdam for 3 weeks last May, not on a cruise. I converted no funds to Pounds or Euros. I have an iPhone set up for Apple Pay, and 2 no foreign transaction fee credit cards. I rarely needed a physical credit card as public transportation, most restaurants, and most shops did contactless transactions. A much better experience than in the US.

 

Note: to use Apple Pay you will need internet access.

[kenphy]

6 minutes ago, WVU_Neal said:

I was in London and Amsterdam for 3 weeks last May, not on a cruise. I converted no funds to Pounds or Euros. I have an iPhone set up for Apple Pay, and 2 no foreign transaction fee credit cards. I rarely needed a physical credit card as public transportation, most restaurants, and most shops did contactless transactions. A much better experience than in the US.

 

Note: to use Apple Pay you will need internet access.

Thanks!

[iancal]

On 8/14/2022 at 4:55 PM, Fishboy1947 said:

We were recently in Mexico. When we made a small purchase I questioned whether the credit card purchase was in $US or Mexico peso. I was told the double dollar sign, $$, indicated Mexico peso. The charge came through properly.

 

How are foreign currencies indicated on credit card transactions in other countries, particularly euros?

Our experience in some, not all, is that  you the choice of a charge in  your home currency or the in country currency. 

 

 We ALWAYS select the in country currency because our credit card does not charge the typical 2.5-3 percent admin add on to the coversion rate.

 

We know that if we select our home currency we will pay 5-10 percent in additional conversion fees.  AKA dynamic currency conversion.  This practice is  becoming more and more pervasive in Europe and NA (especially in FLL and MIA) and at all sorts of retail and hospitality establishments.  

 

We travel internationally fairly frequently.  We make a point of always ensuring that the charge is in local currency.  Especially in hotels.

 

 

Edited August 22, 2022 by iancal

[iancal]

Yesterday we purchased a travel product in Mexico from a UK travel agent.  We paid 1280 GBP.   

 

Simply by selecting one our credit card with no FX fees saved us $50. over what we would pay on our regular credit card that charges the FX fee.

Edited August 22, 2022 by iancal

[kenphy]

On 8/22/2022 at 3:25 PM, iancal said:

Yesterday we purchased a travel product in Mexico from a UK travel agent.  We paid 1280 GBP.   

 

Simply by selecting one our credit card with no FX fees saved us $50. over what we would pay on our regular credit card that charges the FX fee.

Great advice    Thanks

[jocap]

If you have kept foreign currency for another visit abroad, do check that you haven't any paper UK notes.

The only paper ones still in use are the £20 and £50, and the final date for their use is September 30th this year.

[wowzz]

2 hours ago, jocap said:

If you have kept foreign currency for another visit abroad, do check that you haven't any paper UK notes.

The only paper ones still in use are the £20 and £50, and the final date for their use is September 30th this year.

Before you scare everyone,  polymer notes are fine. 

Perhaps you should have been clearer in your definition of "paper", as many visitors will not understand the difference between paper and polymer. 

Edited August 24, 2022 by wowzz

[Hlitner]

On 8/14/2022 at 6:55 PM, Fishboy1947 said:

We were recently in Mexico. When we made a small purchase I questioned whether the credit card purchase was in $US or Mexico peso. I was told the double dollar sign, $$, indicated Mexico peso. The charge came through properly.

 

How are foreign currencies indicated on credit card transactions in other countries, particularly euros?

LOL about Mexico.  When we first started living in Mexico (about 10 weeks a year) we had to get used to the fact that the symbol for Pesos is similar to our dollar sign (and actually can vary slightly with one or two lines).  Since it is about 20 Pesos to the dollar, and we do understand the pricing in Mexico, it is now just normal.  Where we go in Puerto Vallarta, everything is priced in Pesos (which is as it should be).  

 

How the transaction shows on your credit card Statement will vary depending on the credit card.  But all of our cards do post the amount in US Dollars and usually have the underlying information regarding how many Pesos.   When we use our Debit/ATM card to get Pesos (which we do several times a week) it simply shows on my bank Statement at the converted US Dollar amount.  It is the same when we use our cards in Europe in that our Statements show US Dollars (with the underlying Euro transaction).

 

Hank

[iancal]

I keep left over euros, GBP's, USD's, Mex peso, and Thai bhats in my dresser drawer  We like to have at least enough for cab fare on our next trip. 

 

Plus a rather heavy bag of coins from around the world that I need to remember to drop off on the next international flight coin donation tube.

[lisiamc]

12 hours ago, wowzz said:

Before you scare everyone,  polymer notes are fine. 

Perhaps you should have been clearer in your definition of "paper", as many visitors will not understand the difference between paper and polymer. 

Yes, polymer notes are the particularly excitable ones that won’t stay folded, and come sproinging out of my purse in an exuberant flock as soon as I open it! On the plus side, they can survive a trip through the washing machine very well.

[puppycanducruise]

When we return from a trip with "leftover" cash, I put it in the bank.  I have a US Dollar account and a Euro account (as well as my day to day Canadian dollar account)

[davecttr]

On 8/24/2022 at 9:04 PM, jocap said:

If you have kept foreign currency for another visit abroad, do check that you haven't any paper UK notes.

The only paper ones still in use are the £20 and £50, and the final date for their use is September 30th this year.

We do have the new £5, £10, £20 and £50 'plastic' notes.

[davecttr]

20 hours ago, lisiamc said:

Yes, polymer notes are the particularly excitable ones that won’t stay folded, and come sproinging out of my purse in an exuberant flock as soon as I open it! On the plus side, they can survive a trip through the washing machine very well.

It makes money laundering easier.

 

Don't iron them though