 |
|
Re: Best way to convert $ to Euros/Pounds?
02-07-2007, 09:33 AM
|
#21
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Posts: 17,241
|
Re: Best way to convert $ to Euros/Pounds?
 Quote:
|
Originally Posted by bennevis
I don't know what the interest rate is, forgot to ask,
but I don't keep a balance, I pay it off right away.
fyi: just checked: 9.25% on cred. card advance from my CU.
|
It does not matter if you pay it off... a cash advance starts to accrue interest the second you take the money out of the ATM.. and probably BEFORE you take the money and they will charge you for the whole day...
|
|
|
 |
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
Re: Best way to convert $ to Euros/Pounds?
|
02-07-2007, 12:16 PM
|
#22
|
|
Recycles dryer sheets
Join Date: Oct 2003
Posts: 452
|
Re: Best way to convert $ to Euros/Pounds?
Quote:
|
Originally Posted by Texas Proud
It does not matter if you pay it off... a cash advance starts to accrue interest the second you take the money out of the ATM.. and probably BEFORE you take the money and they will charge you for the whole day...
|
Yes, I know, but the sooner it's paid off, the less interest to be paid!
|
|
|
|
Re: Best way to convert $ to Euros/Pounds?
|
02-07-2007, 12:27 PM
|
#23
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
|
Re: Best way to convert $ to Euros/Pounds?
Just to make it clear, do not ever use a credit card to withdraw cash from an ATM. Just use the credit card to make charges and use the free float. Use your ATM card to withdraw cash.
|
|
|
|
Re: Best way to convert $ to Euros/Pounds?
|
02-07-2007, 01:56 PM
|
#24
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2006
Location: west coast, hi there!
Posts: 8,809
|
Re: Best way to convert $ to Euros/Pounds?
I noticed that our Visa used the interbank exchange rate together with a 1% charge on a recent trip to Canada. This is a good exchange rate. Here is a link to a site that tells you what that rate is http://www.oanda.com/convert/fxhistory .
Now for a followup question. Does anyone have any experience with using a Wells Fargo Visa card overseas to do an ATM withdrawal. I know they will charge $5 per transaction but what exchange rate will I get?
If the Wells Fargo rate is not good I could always deposit extra funds in our standard Visa account and request a cash advance which one would hope would give me the interbank exchange rate.
Les
|
|
|
|
Re: Best way to convert $ to Euros/Pounds?
|
02-07-2007, 01:58 PM
|
#25
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2006
Location: west coast, hi there!
Posts: 8,809
|
Re: Best way to convert $ to Euros/Pounds?
I should have mentioned in the last post that the Wells Fargo card I'm referring to is a debit card with a Visa logo on it. Was hoping to get some cash this way.
Les
|
|
|
|
Re: Best way to convert $ to Euros/Pounds?
|
02-07-2007, 02:27 PM
|
#26
|
|
Thinks s/he gets paid by the post
Join Date: Oct 2003
Posts: 1,324
|
Re: Best way to convert $ to Euros/Pounds?
Best way to convert $ to Euros/Pounds? Drink lots of Guiness!
__________________
We are, as I have said, one equation short. – Keynes
|
|
|
|
Re: Best way to convert $ to Euros/Pounds?
|
02-07-2007, 03:00 PM
|
#27
|
|
Thinks s/he gets paid by the post
Join Date: Jan 2004
Posts: 2,049
|
Re: Best way to convert $ to Euros/Pounds?
All cards will have a competitive exchange rate. They lost the lawsuit and the days of skimming off a few pips are gone.
|
|
|
|
Re: Best way to convert $ to Euros/Pounds?
|
02-07-2007, 03:23 PM
|
#28
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Posts: 17,241
|
Re: Best way to convert $ to Euros/Pounds?
Quote:
|
Originally Posted by eridanus
All cards will have a competitive exchange rate. They lost the lawsuit and the days of skimming off a few pips are gone.
|
Yes, that is why they now charge a 1% FEE...it is spelled out and easy to see... they lost the lawsuit and now charge MORE money... and then add the 2% or 3% from the CC comp...
|
|
|
|
Re: Best way to convert $ to Euros/Pounds?
|
02-07-2007, 04:09 PM
|
#29
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
|
Re: Best way to convert $ to Euros/Pounds?
Back in the '70s, I converted dollars to pounds...
__________________
Have Funds, Will Retire
...not doing anything of true substance...
|
|
|
|
Re: Best way to convert $ to Euros/Pounds?
|
02-07-2007, 10:54 PM
|
#30
|
|
Recycles dryer sheets
Join Date: Aug 2006
Location: London
Posts: 58
|
Re: Best way to convert $ to Euros/Pounds?
Quote:
|
Originally Posted by lsbcal
Now for a followup question. Does anyone have any experience with using a Wells Fargo Visa card overseas to do an ATM withdrawal. I know they will charge $5 per transaction but what exchange rate will I get?
|
Used my Wellls Fargo card four times in an Russian ATM the past two weeks. Every transaction was at the interbank rate with no additional fee. In fact they refunded the fee the local ATM charged. We've been using our WF card in multiple countries to get cash since we moved overseas in 2005, never seen the $5 per transaction charge. We do have a premium account so that might be it, not sure.
|
|
|
|
Re: Best way to convert $ to Euros/Pounds?
|
02-08-2007, 09:29 AM
|
#31
|
|
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2006
Location: west coast, hi there!
Posts: 8,809
|
Re: Best way to convert $ to Euros/Pounds?
Thanks for the response neeps.
Les
|
|
|
|
Re: Best way to convert $ to Euros/Pounds?
|
02-09-2007, 06:53 PM
|
#32
|
|
Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,126
|
Re: Best way to convert $ to Euros/Pounds?
I travel abroad a lot and have come to the conclusion that ATM/Debit card card is the best value. I have an internet bank account so ATM fees of $8/month are waived and there is no premium charged like on credit cards (up to 3%) when withdrawing cash.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
|
|
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|
Linear Mode
