Currency Exchange

[Dalmore]

DW and I have a trip to Norway coming up. I checked with my CU and they don't do currency exchanges. I've used kiosks in the mall before, but I don't feel like getting gouged again.

Where do you go for currency exchanges? I don't plan to take/use a lot of cash, but I want to have a couple hundred for the just in case situations.

[Alan]

When I visited Norway a few years ago I used my US debit card to withdraw Kroner.

[OldShooter]

US debit card. There will be ATMs in the airport and easily available around town. This is true all over the world.

Some cards like my Schwab debit and IIRC Capital One will refund all ATM fees and do not charge a foreign transaction fee. This gets you basically the wholesale exchange rate.

Spend all your Krone before you leave as US banks will typically not exchange coins at all and many do not handle oddball currency like Krone. Just grit your teeth and buy the overpriced candy and junk at the airport stores as you leave.

[braumeister]

Schwab debit card is my default for currency from ATMs.

Just don't get too much cash. I used Apple Pay on my phone almost everywhere on last year's visit to Norway. Credit card payment is far more common than cash over there.

Beautiful country. Enjoy!

[davebarnes]

"Countries like Denmark and Norway top the adoption of cashless payments, but the clear Scandinavian leader in becoming the first cashless country is Sweden."

[brett]

We avoid buying foreign currency at home. We find the best rates are in country at city exchange stores where there iscompetition . As an example, we get a better rate of exchange on the $1500 cash that we take to Thailand or Greece than we do with an ATM withdrawal.

In countries where cashless is popular it is surprising how little cash you need. We got $500 AUD in Australia. 3-4 weeks later we found ourselves in Sydney with $300 or so of that in our pocket. I believe that the Scandanavian countries are the same.

[davebarnes]

Quote:

Originally Posted by brett In countries where cashless is popular it is surprising how little cash you need..

In the USA, I have not used any cash in the last 18 months.
Credit cards and Venmo.

[Bamaman]

We only use ATM's that belong to banks. The exchange rate is always better there. We do not use Travfelex or AMEX or other "for profit" exchanges. Even then, the ATM is for walking around spending money. I try to charge every thing I can when on trips.

Norway and the Scandinavian countries use very little currency. Everyone there uses their ATM card just about across the board for everything--big or small.

[braumeister]

Quote:

Originally Posted by Bamaman We only use ATM's that belong to banks.

Same here. Since they are far less likely to have a skimmer or other fraud modification attached, I like to find an ATM that is physically inside a bank building. Usually pretty easy to do if you're in the downtown business district of a city. I never use an ATM at the airport since they always have the worst conversion rates.

Another issue is that since almost everyone in Scandinavia uses a card to pay for everything, no matter how small, when you show up with the large denomination bills you just got from an ATM, the merchant may very well not have enough cash to make change for you.

Best practice is to get some cash (just enough to make you comfortable) and then immediately get the bills changed to smaller denominations. Often the desk at your hotel will be able to do this for you.

[Kwirk]

Quote:

Originally Posted by davebarnes In the USA, I have not used any cash in the last 18 months. Credit cards and Venmo.

What do you do for parking valets, hotel housekeeping, etc?

[Dalmore]

Thanks for all the great advice. We will make sure to hit an ATM when we get there for pocket change and charge everything else.

[davebarnes]

Quote:

Originally Posted by Kwirk What do you do for parking valets, hotel housekeeping, etc?

Never valet park. Uber. My last usage of valet parking was probably in 2008.
Have not stayed in a hotel in the USA since August 2018 (when my mother died). And that was a Red Roof Inn. Have never (in 40+ years) tipped maids in hotels. Don’t travel in the USA. AirBnB in Europe.
Have no idea what “etc.” means.

[OldShooter]

Quote:

Originally Posted by Dalmore Thanks for all the great advice. We will make sure to hit an ATM when we get there for pocket change and charge everything else.

yup. You got it.

[audreyh1]

Except for taxis. We prefer cash for taxis.

In Europe we tip wait staff in cash and hotel maids in cash.

Some B&Bs require cash, as do many tours want the balance in cash.

We hardly use any cash at all in the US, but we seem to go through a lot of cash in Europe.