Currency?


#1

I am going on the Olympic Link tour which goes to several eastern European countries. What would be the best way to change currency? Since there are several different currencies in those countries should I change my money before I leave, bring lots of Euros and change them over there? Or just purchase them with my bank card over there?? Any tips?[br][br]Jaclyn[br]-Olympic Link[br]July 24 - Aug 13


#2

we just got money out of the atm when we got there. it was so much easier and less hassle.[br][br]Leeana[br]Canberra, Australia[br]Spirit of Europe 16 Sept 08[br]+ London Stopover[br]+ Edinburgh Minibreak


#3

I am doing a similar tour, going through a few countries in eastern Europe. I am going to take some euro?s over with me, and then just get money out at ATM?s along the way. I think banks charge quite a high withdrawal fee and conversion fee, so I?m just going to try and withdraw once in each country or something, rather than just continually getting money out and having to pay fee?s each time! The other option is changing my euro?s to the local currency, but that means I?d have to carry quite a lot of cash on me, so I think I?ll do a combination of both!


#4

hey jaclyn![br]i am also from canada and did istanbul to london last year. before i went i got about 50 canadian dollars changed over to each currency i could get (i dont think bulgarian or romanian were available) and the rest i had euros with me. it is easy to change but it was nice having some currency upon arrival. [br]just a thought. :)[br][br]tam~[br]Istanbul - London 2008 [br]Red Star Special 2009


#5

Hey, not sure if you know about it but there is a card called the TRAVELEX card, you can get them from most banks im fairly sure and you can nominate currencies on it that you want and then all you need to do is take the card with you and draw out money at atms or use it like a credit card in shops. :slight_smile:


#6

Is this the one where you lock in the current exchange rate? I was thinking of getting one because then you know exactly how much you have in the local currency and exchange rate fluctuations don?t matter, plus it?s cheaper withdrawing money from ATM?s… However with the rate so bad at the moment it seems pointless getting one as you won?t get a very good deal and then you?re stuck with it… What do others think? I think there is the Travelex card and the ANZ travel card which are both very similar, and you can lock in pounds, euros and US dollars.


#7

Im thinking on getting travellex card. Even though it holds the dollar at the rate when you put the money on-this could also be a positive. The money is probnot going to change a whole lot.[br]Ive been thinking the same but at the moment its looking alot better than it was awhile ago. So many choices!!


#8

can we use Euros in shops etc or do we change it to local currency in each country? I’ve never been to Europe before and I’m not sure how it works…


#9

I think you can use euros in most countries, however for countries with a different currency you’ll have to either change your euros to the local currency, or withdraw money from an ATM (in the local currency).


#10

[quote]Originally posted by jessica1[br]
Is this the one where you lock in the current exchange rate? I was thinking of getting one because then you know exactly how much you have in the local currency and exchange rate fluctuations don?t matter, plus it?s cheaper withdrawing money from ATM?s… However with the rate so bad at the moment it seems pointless getting one as you won?t get a very good deal and then you?re stuck with it… What do others think? I think there is the Travelex card and the ANZ travel card which are both very similar, and you can lock in pounds, euros and US dollars.[br][/quote][br][br][br][br]The rate is not bad at the moment. Getting better at least. I just wanted to get it sorted out then not worry about the rate plummeting so got the ANZ Travel Car in USD and Euros recently (spending time in the US on the way to Europe). I wanted to get the Travelex one since they are much more worldwide than ANZ and have been doing these cards for longer. But I went for the ANZ one because aswell as using it in ATMs to withdraw cash, it is also a debit card that can be used for transactions such as in shops or paying entry to tourist attractions. It’s basically an EFTPOS card so you don’t need to have too much cash on you. The Travelex one can only be used to withdraw from ATMs so if you don’t have enough cash on you to pay for something, you might be a bit stuck. I think Travelex do have a debit card version overseas but they told me that at the moment the one available in NZ can only be used in ATMs. So if you’d like to be able to use it to pay for things aswell as use it in ATMS then the ANZ one is the one to get if you’re living in NZ.


#11

The National Bank in NZ also does a travel card, which I’m pretty sure works the same as the ANZ one - can be used as a debit card anywhere that accepts mastercard (is it just me or is it strange that it uses mastercard not visa?) and also to get cash out of ATMs. Comes in Euros, Sterling or USD. I’m considering getting one of these so I don’t have to carry quite as much cash, but the charges for getting cash out on these vs a credit card might end up being about the same…[br][br]Morgan[br]Grand European June 16 2009


#12

The National Bank one is exactly the same as the ANZ one as the National Bank is owned by ANZ. It’s just got a different name and is a different colour. ATM charges might be similar to withdrawing cash with a credit card but remember with the credit card (or any NZ card) you’re going to get screwed by currency conversion charges on top of that, and of course have to think about how the exchange rate is changing and have to work out how much money you have left and keep converting things in your head as opposed to having a card with Euros on it which seems to make it so much easier - if you have 100 Euros, you have 100 Euros, even if the exchange rate halves tomorrow.


#13

is the conversion fee very high for using a credit card or visa card? or for withdrawing cash from an atm with your usual visa card?[br]


#14

Usually about 2.5% or similar for all cards but with a normal credit card you will be paying that everytime you withdraw and everytime you use the card to buy or pay for something. With the travel cards you pay it only when you put money on it.


#15

ahhh i see :slight_smile: thanks for clearing that up!