With the introduction of the Euro, handling your money in Europe is simpler. However, you can find still some important guidelines for coping with currency issues while abroad.
Although you can typically exchange money in the airport when you get to Europe, it is better to have some Euros when you leave. What if your flight is delayed and you arrive after the airport bank is closed? Or, what if you’re starving as soon as you obtain off the plane and want to pick up a fast snack before coping with money exchange? Most local banks can simply exchange dollars for Euros. Having 50-100 Euros in your pocket upon arrival will become your trip off stress free (see the following section for the reason not to switch all of your money ahead of time).
Use your ATM and credit cards
Travelers checks are a thing of yesteryear! The best way to switch money in most European countries is always to simply use your Visa or Mastercard. You’ll typically get the best exchange rate when you take money out of an ATM or pay directly with a bank card when you’re in Europe. 꽁머니 The reason is that banks usually give the best exchange rates to each other, and so the this automatic transaction will typically set you back significantly less than planning to a money exchange kiosk. Make sure to call your bank beforehand to make sure that your ATM pin will continue to work in the countries what your location is traveling – it us typically best to have a standard 4-digit pin. Current guide books should alert you to any concerns with using cards in specific countries.
Picture it: Paris, 2001. I had just gotten off an over night train from Madrid to Paris and…well…I really had to utilize the restroom! I ran over to the toilette, simply to be stopped with a surly french woman telling me that I had to fork over some money to utilize the facilities. Furiously searching through my purse, I kept pulling out random coins while the woman shook her head. I had no idea which of these foreign coins would comprise the price of using the bathroom. Although life is a little easier now that numerous European countries utilize the same currency, it’s still worth taking a few minutes to examine the coins and bills beforehand
Alert your financial institutions
The last thing you want to cope with on your trip is a declined credit card. Make sure to call your bank and credit cards beforehand to offer them a list of countries where you will soon be traveling. That way, if the organization starts seeing many large transactions in a foreign country, they won’t be tempted to deactivate your card for security purposes.
Know the conversion rates
While you’re on your trip to Europe, you’ll want to have recommended of simply how much you’re really spending. That is difficult to do in the event that you don’t understand the currency conversion between Euros (or whatever currency is found in the countries you’re visiting) and your own country’s currency. An excellent plan is to examine the basic principles when you leave. Let’s assume that you are from the U.S. and you will soon be using the Euro on your trip. First, visit a currency conversion site, such as for instance, and know what one Euro is worth in dollars. At the time with this writing, 1 Euro = 1.34 U.S. Dollars. So, for every single Euro you may spend, it will in actuality be about 30% more in dollars. Then get a couple of more Euro denominations, such as for instance 10, 20, 50 and 100, and note their dollar equivalents. Write them on a small bit of paper and take it your wallet. That way, when you’re thinking about purchasing the Italian leather shoes that cost 100 Euro, you can quickly check and remind yourself that you’re actually spending $134.