With the introduction of the Euro, handling your money in Europe will be a lot simpler. However, you will find still some important guidelines for working with currency issues while abroad.
Although you can typically exchange money in the airport when you arrive in Europe, it is better to own some Euros before you leave. Imagine if your flight is delayed and you arrive after the airport bank is closed? Or, what if you are starving when you receive off the plane and want to pick up a fast snack before working with money exchange? Most local banks can simply exchange dollars for Euros. Having 50-100 Euros in your pocket upon arrival will start your trip off stress free (see another section for the reason not to exchange all your money ahead of time).
Use your ATM and bank cards
Travelers checks certainly are a thing of the past! The best way to exchange money in most European countries is always to simply use your Visa or Mastercard. You’ll almost always get the best exchange rate when you take money out of an ATM or pay directly with a charge card when you’re in Europe. 꽁머니 This is because that banks usually give the best exchange rates to each other, so the this automatic transaction will typically run you less than going to a money exchange kiosk. Be sure to call your bank ahead of time to ensure your ATM pin will continue to work in the countries where you stand 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’d just gotten off an overnight train from Madrid to Paris and…well…I really had to use the restroom! I ran over to the toilette, only to be stopped with a surly french woman telling me that I’d to fork over some money to use the facilities. Furiously searching through my purse, I kept pulling out random coins whilst the woman shook her head. I’d no idea which of the foreign coins would comprise the price of utilizing the bathroom. Although life is just a little easier now that lots of European countries use the same currency, it is still worth taking a couple of minutes to examine the coins and bills ahead of time
Alert your financial institutions
The past thing you wish to deal with on your trip is just a declined credit card. Be sure to call your bank and bank cards ahead of time to provide them a list of countries where you will undoubtedly be traveling. This 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 wish to have advisable of just how much you’re really spending. This is difficult to do in the event that you don’t understand the currency conversion between Euros (or whatever currency is utilized in the countries you’re visiting) and your own country’s currency. A great plan is to examine the basic principles before you leave. Let’s assume that you’re from the U.S. and you will undoubtedly be utilizing the Euro on your trip. First, visit a currency conversion site, such as for example, and determine what one Euro is worth in dollars. At the time of this writing, 1 Euro = 1.34 U.S. Dollars. So, for each and every Euro you may spend, it will in truth be about 30% more in dollars. Then get a few more Euro denominations, such as for example 10, 20, 50 and 100, and note their dollar equivalents. Write them on a small little bit of paper and carry it your wallet. This way, when you’re considering purchasing the Italian leather shoes that cost 100 Euro, you can quickly check and remind yourself that you’re actually spending $134.