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FIREdreamer · 10-10-2007, 10:45 AM

I always keep the equivalent of about $9500 in a European bank and I can access the money anytime, anywhere in the world, using a VISA debit card. There is no way I know of to completely avoid exchange expenses. But you can try to minimize bank-to-bank transfer fees. One of the cheapest ways to do this is to take the money with you on the airplane (you don't have to declare anything to customs if you carry less than $10,000 or equivalent with you) and deposit it to your new account on arrival. The other cost effective way to transfer money has been in my experience to use my Visa debit card at local ATMs. My debit card gives me a competitive exchange rate with no bank to bank transfer fees.

10-10-2007, 10:45 AM	#13
FIREdreamer Thinks s/he gets paid by the post Join Date: May 2007 Posts: 2,494	I always keep the equivalent of about $9500 in a European bank and I can access the money anytime, anywhere in the world, using a VISA debit card. There is no way I know of to completely avoid exchange expenses. But you can try to minimize bank-to-bank transfer fees. One of the cheapest ways to do this is to take the money with you on the airplane (you don't have to declare anything to customs if you carry less than $10,000 or equivalent with you) and deposit it to your new account on arrival. The other cost effective way to transfer money has been in my experience to use my Visa debit card at local ATMs. My debit card gives me a competitive exchange rate with no bank to bank transfer fees.