Naive Traveler Questions

[PawPrint53]

My DH and I are planning a trip to the UK, Ireland and Austria. I've only been out of the U.S. once (walking tour in England 9 years ago) so I'm unsure about some things, particularly dealing with money. In Ireland, we need cash for one of the B&Bs ($90 per day for 4 days in Euros) and, according to some sources, cash for most other things in smaller villages that we'll visit. I feel weird carrying a lot of cash, but I don't know about getting cash overseas. I have a debit card from a credit union, not a big bank, so I'm not sure how that will play out in other countries. Should I get a bunch of cash in the two different currencies here? What's the fee for withdrawing cash via debit from an overseas ATM? How much cash do you carry when you travel overseas? Anything else I should know about money and traveling to other countries? We will be gone about a month. Thank you.

 

[Scrapr]

You can get cash out of the ATM once you land. You will get a better exchange rate at the ATM than if you buy currency at your local bank. Check to see if your debit card provider has foreign exchange fees. Sometimes they are 3%. There are places with no Foreign exchange fees. Also credit cards with no FEF. Credit Union will (most likely) be a part of a network. Find out the network they are on and try to withdraw from those when in Ireland. No transaction fee.

Check your daily max on withdrawals. Ours was $300. We had somebody that we had to pay Euro only and it was >our daily withdrawal limit. We made some withdrawals ahead of time to get it all ahead of time

Look at Rick Steves site for lots of travel help. Money/Euro/English chargers/security, etc. It really helped us

We did not carry a lot of cash. I think when we left Sweden we had some SEK that we had to spend on our way out of the country. We spent one night in Bremen and everything in the neighborhood was cash. Kind of tied us up for a bit. But it was only 1 night

 

[athena53]

First, I'd check with your credit union to see what networks are accessible overseas. They can also tell you about THEIR charges (including foreign exchange conversion fees, if any) but can't predict what the local machines will add on to that. I always relied on local ATMs to get money and took out about $200 at a time since there's a flat fee per withdrawal and they really add up if you withdraw in dribs and drabs. I've been mostly in the larger cities in Europe but have never had a problem getting cash or paying with a credit card.

Traveler's checks may still be an option- haven't used them in years- but that's a safer way to carry funds although you'll probably have to wait in line at a bank, show your passport and sign some papers to get local currency.

I doubt that getting Pounds and Euros before you leave would be a great bargain since banks here tack on their own charges.

Hopefully others will chime in; I've been able to get by on my European travels using a credit card maybe 95% of the time and cash for the other 5%. Even in Kulusuk, Greenland, where they told us we might need Danish Kroner, the grocery store took plastic.

 

[Sunset]

I signed up for a credit card that does not have foreign transaction fees, when using the credit card I paid in Euros (even if they offered to charge me in USD).
It was a Barclay Arrival Plus, it was no fee for the first year, and I'll admit I'm keeping it for the second year as I already paid for some cruises with it.

There are a number of credit cards with no foreign transaction fees, lots of airline cards have them and so does Bank of America.

I also got a Schwab brokerage account, (just transferred in some shares) and a bank account, as they refund ATM fees, and no foreign transaction fee either. I used this to take out Hungarian Forint, and Euros from my Schwab bank account, most of which I didn't spend as nearly all places including the subway took my CC.

That way I didn't have to try to get money from a bank (the fee was really high and it takes 4 days).
I don't even think anyone uses traveler checks anymore.

 

[Amethyst]

When we lived in the UK for three years (10+ years ago) we never paid transaction or foreign exchange fees. At that time, I used Penfed's ATM card to withdraw pounds from UK Barclay Bank ATMs.

I had a no-foreign-fee CC; I think it was Barclaycard Arrival, but my memory is not 100% clear on that. Pounds or Euros, we never paid a transaction fee anywhere, and the conversion rate used by the CC was always current to the day of purchase.

 

[akidagain2018]

If I recall correctly, the London Tube fares can be purchased/paid for with cash or debit card, only. No credit card, which was surprising, in late 2016. So, Debit cards are commonly used, and credit cards accepted at large establishments, smaller merchants still may prefer cash outside major hubs. I usually get cash in the US (or UK) airport, by a withdrawal via debit card from my US Bank, or cash advance on a credit card in a case where I forgot both cash and my ATM/debit card. I take enough out that the transaction fee is waived and you simply pay the market exchange rate. I assume some (nominal <) fees are embedded in the rates but no extra transaction fee. I prefer to pay cash when traveling in high tourist areas ever since getting my card number, or two, lifted during a two week cruise and land tour. And I like to pay local small merchants in cash when I can. They prefer it in some cases, most cases probably. When traveling, over the years, I've gotten money exchanged at a random money exchange center in London, at a small hotel, at a large hotel (one with concierge), withdrawal at ATM in the foreign country (France, but could easily be the UK) - with credit card fees imposed and without card fees imposed, so check your card before you do this. In the UK, you at want to consider whether there is yet any impact on access to banking as a result of Brexit. I don' think they've severed anything with the EU yet. But banks will likely be changing their relationships with and in the UK as a result of Brexit. Something to consider.

 

[LOL!]

I bought a London Tube Oyster card with a Fidelity credit card in 2015. At that time it was even a Fidelity Amex credit card.

 

[sengsational]

Look on the back of your debit card. You should see that it participates in certain networks. Now research those networks and the country you'll be in. Most likely you'll see some big banks that participate in that network. That means that you'll probably be able to just walk up to an ATM and walk away with money. Call your credit union and ask them if you can get money out of a "Cirrus Network ATM in Ireland", for instance. They might have to call you back, but they'll probably answer in the affirmative. Only once, when I went to Costa Rica, my credit union wasn't quite sure. And when I tried it (at just one ATM), it didn't work. I ended up with a cash advance on my credit card, which cost me about $10 or something.

Go the the ATM's on the sidewalks outside of the big banks, not the no-name ATM's. You'll notice the big bank names all over the place, and they'll typically have ATM's on the outside of the building, that is, if you're walking around in the city.

Another option for your B&B is PayPal. They hate credit cards because over there they take a really huge percentage. But PayPal can get money into their hands for cheap. I paid for a week long sailing course via PayPal, and also paid for a surf camp that way. The PayPal fee for a business is like 3%, so I paid that over and above the cash rate. That meant I could avoid spending all the time of getting myself to an ATM, making the transaction work while not hitting daily limits, and delivering the cash it safely to the proprietor.

 

[IMATERP]

On our last few trips to Europe:

1. We usually purchase 300 euro from our Credit Union prior to our trip.

2. We inform our bank that we will be using our Credit Card in Europe during a specific time period.

Then we carry small amounts of cash when we go out and most of the time just charge our purchases. It's really not a big deal to us.

Just do not go to change bureaus if you decide to carry U.S. $ as they charge high commissions.

I

 

[Bamaman]

Take $100 cash.
Use a no cost ATM card only to get a little spending cash when you get there.
I use a Capital One Venture Visa card paying back 3% for hotels, rental cars, restaurants, public transit, museums--everything else. I carry very few Euros or British Pounds.
When I get cash out of ATMs, it is only from a bank machine. Others (Travelex) don't give you a proper exchange rate.

 

[Meadbh]

Hello. I’m an Irish and Canadian citizen living in Canada and I frequently visit Ireland, most recently last month.

The Republic of Ireland uses the Euro. If you are visiting Northern Ireland you will also be using Pounds Sterling.

This page has some useful facts:

https://transferwise.com/gb/blog/money-and-banks-in-ireland

Some insights from me:
1. On my most recent visit to Ireland, I did not use any cash at all. I paid for everything using a credit card. When abroad, always ask for your credit card to be billed in the local currency. You will get the best foreign exchange rate that way.
2. Ireland is well equipped with modern technology and all credit cards are Chip and Pin (like Europe in general). If possible, bring a credit card that can be processed by Chip and Pin readers.
3. Wireless CHIP technology is commonly seen. Best used for small transactions, assuming your credit card has it. Some businesses may take Apple Pay.
4. As you suspect, some small businesses such as B&Bs may not be set up to accept credit. Take some Euros with you. The best foreign exchange rate can be obtained at an ATM in the country you are visiting. ATMs are ubiquitous in Ireland. Try to use the ones at bank branches.
5. Travelers’ cheques have been obsolete for decades. Do not waste your time with them.
6. The price is what you pay. Taxes are included. You will be paying VAT (value added tax) of 23% on most purchases. However, you can claim a refund of this tax on items you export from Ireland, so keep your receipts and ask at the airport, where there will usually be a kiosk for the purpose.

100,000 welcomes to Ireland, and have a wonderful time!

 

[Marita40]

Bring two debit cards, in separate places on your person, to use at ATMs. Make sure you tell your bank where you are going, verify that the cards will work abroad, learn the daily withdrawal amount, and write down your bank's long distance phone number in case you need to call them. ATMs are everywhere these days. Use one during working hours at a bank, just in case your card is "eaten" and you need to report it.

Bring a no transaction fee credit card for anything that doesn't require cash. Again, make sure to tell the credit card company in advance where you are going and that you have their long distance phone number written down separate from the card.

Get about 100 dollars in the target country currency before you leave. Sometimes it takes banks a few days to a week to get this, so start early. Although the exchange rate is typically bad, it will help make you feel secure in case (as happened to me landing in Rome one year) all the ATMs in the airport are out of money. At least you'll be able to hail a cab to the next ATM or grab a bite to eat with your cash.

 

[Chuckanut]

Carry just one day's spending cash easily available on you at any given time. If you must carry more cash, credit cards, ATM cards etc. use a good money belt that is well hidden and hard to get to.

If your room has a safe, leave the extras in that. It took me a while to get used to leaving things in a hotel room safe, but now I do it routinely and with great peace of mind. Heck, in cities like Rome and Barcelona, leaving extra cash in your locked suitcase in your room is far safer than wandering about with the cash in the typical wallet or purse.

 

[bigadventure]

If you have euro left at your time of departure, use them to refill a Starbucks card, that good in the US.

 

[athena53]

If you have euro left at your time of departure, use them to refill a Starbucks card, that good in the US.

Ooh, what a great idea! I have piles of Euro coins left from various trips and a few small bills. I'm headed to Paris in September. Do you just go into Starbucks and buy a physical gift card? (I have an app on my phone so I always transfer gift cards to that account on their Web site.)

 

[cathy63]

If you have euro left at your time of departure, use them to refill a Starbucks card, that good in the US.

Good idea! I usually drop small amounts in the charity box at the airport, but sometimes I have a bit more than I want to donate.

 

[Sunset]

I just brought my Euro's home, so now I have some to take with me next time I go across. That way I don't even have to look for an ATM right away.

 

[WestUniversity]

Also, contact the bank/credit card company and put a travel notice on any card you might need to use. They will want to know dates of travel and destinations. If you don't do that and they see a foreign transaction pop up on your card they will most likely lock the account, which can be a pain to get cleared when your overseas...