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Current ATM euro rates

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central fla.
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Current ATM euro rates

For those who are currently in Rome or just back....what is the ATM US to Euro rates?

New York City, New...
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1. Re: Current ATM euro rates

The ATM exchange rate will mirror the intra-bank rates - you can see that here: www.xe.com - that is why they are good to use even though your bank will charge a foreign exchange fee (varies by bank, some like Capitol One don't charge any fees) - using the debit cards, even with your bank fees, will yield a better rate than buying currency at home; though buying about 100 euros to arrive with is a good idea so you have cash on hand immediately.

Be sure to alert you bank(s) about your dates/destinations so their fraud programs don't freeze your card(s) when you are abroad.

central fla.
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2. Re: Current ATM euro rates

thanks, Momcat.....now I need to guess what direction the Euro is going to take between now and November, 2013. It's about 1.24 now. To me, that's cheap. When we were last in Europe (11/09) the rate was 1.52. Euro economics/politics is such a crap shoot...I'm mulling buy now or buy later.

Pittsburgh...
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3. Re: Current ATM euro rates

http://www.forecasts.org/euro.htm

Forecasting is a crap shoot. Here is a "professional" attempt at future value.

NY
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4. Re: Current ATM euro rates

I am convinced there is no cheaper way to get cash overseas than an ATM withdrawal, even including a service charge if levied by your bank.

But you can't get Euros from an ATM in the US, unless someone knows otherwise, so you have to buy at a bank, and you will get hosed on the exchange rate.

Even if you did buy all the cash Euros needed for say a week or two trip, would you carry it in your pocket?. You can get Euro travellers checks, but forget about that also - you will get double and triple hosed with those.

Hong Kong, China
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for Hong Kong, Osaka
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5. Re: Current ATM euro rates

ATM's give good and fair rates. Just understand how much your bank charges back home regarding transaction fee (anything from non to a few percent, or a fixed dollar amount per transaction). I wouldn't bother with TC's, and I wouldn't get so much cash exchanged in advance. Many European places accept credit cards. Note that card issuers might usually charges a % or two on top as well.

Finally, for your ATM card, make sure you have a genuine debit card that is not a combo debit/credit card. With a combo card, foreign ATM's might not give you the bank account choice but instead, force you to withdraw as a credit card cash advance.

texas
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6. Re: Current ATM euro rates

Sammyfloyd,

I don't quite understand why using a combo card, the withdraw may be treated as credit card cash advance. The money is automatically withdraw from your bank account when it's a credit card purchase so shouldn't it be treated the same way when you use it at an ATM?

Is it safer to bring just an ATM card instead of debit card?

If it's stolen, it cannot be used to purchase at merchants.

I'm planning to bring an ATM debit/credit card combo with me to Europe so I'm very interested to find out more info on this topic.

NY
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7. Re: Current ATM euro rates

Re combo or duo credit/debit card, this is an interesting question because in the US this type of card has I think been issued only since late 2011.

When used in the US you often can tell the clerk or maybe a machine which way it is being used.

But the question is how will an ATM in Italy process the card? I do not remember any menu that asks if debit or credit, just know that if you put in a card it asks for a pin and if it is a credit card it is a very expensive cash advance/loan.

Maybe we can hear from someone who has experience with it..

,

Sydney, Australia
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for Train Travel
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8. Re: Current ATM euro rates

>>I don't quite understand why using a combo card, the withdraw may be treated as credit card cash advance. <<

ATMs in Europe do not ask which account you want to use. The money is taken from whichever account has been designated by your bank as the "primary" account on that card. If that is the credit account, the money is regarded as a cash advance on your credit card.

It is a good idea to get separate cards for travel in Europe.

Sydney, Australia
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9. Re: Current ATM euro rates

Buying "cash" with a CC means you get the money immediately as a loan, so they charge you for it.

Taking "cash" from your own account, as in a debit card, is not a loan, but using your own money. Most banks charge you something for that, but not huge amounts.

Buying goods, the money does not get to the vendor right away so the bank is not paying anything out, so no charges are made unless you go over the time limit allowed. Then they hit you hard.

So they are not the same type of transaction and the charges are different.

Mississauga, ON
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10. Re: Current ATM euro rates

We've just returned from Europe (Portugal) and withdrew E100 from the ATM (using our debit card) at a rate of $1.312 Canadian. Even with the $3 fee, this was still cheaper than any rate we bought euros at prior to our trip.

Enjoy