Readers Comment on the Currency of Travel
My enthusiasm for the power of plastic in currency conversion elicited a number of responses and additional tips that are surely worth sharing along with my humble admission that perhaps traveler's checks do have a place in my travel vernacular and valise. Here are some readers' comments and tips.
"I've been to Europe many times. Usually, I take at least $100 in US dollars and $250 in traveler's checks for an emergency. While I agree the ATM reliability has improved over the years, safe is better than sorry. Fortunately, the wad of $1000 in traveler's checks is a thing of the past."
Technical difficulties: "When in Australia, there was a software glitch or a broken cable and U.S. and New Zealand customers could not get to their cash via ATM for two days."
Synchronization: "When 9 hours of time differences exist, the San Francisco bank that is having file maintenance for an hour at 3:00 a.m. is updating the system during lunch in Western Europe."
Local Issues: "When driving into Switzerland, a vignette, or prepaid toll sticker, must be purchased for cash on the spot. No ATM there either."
"Having had cards embargoed because the credit card company got suspicious of misuse, we always call before we leave and alert the credit card company of where we'll be."
"Regardless of where the currency conversion is done with a credit card purchase, at the ATM you know it's being done at the bank rate, which tends to be the best rate available."
"ATM currency conversion is the best thing that's happened to travel since they put wheels on suitcases!"
"In recent months, I've I noticed a new fee on my credit card statement for currency conversion. Apparently some credit cards are now charging or attaching a fee to currency conversion on credit card purchases."
"I landed in Milan at midnight and was starving. By the time I made it to my hotel, I wish I had brought some euros with me as the late night eateries said no to credit and traveler's checks."
Care to add you own comments?
"I've been to Europe many times. Usually, I take at least $100 in US dollars and $250 in traveler's checks for an emergency. While I agree the ATM reliability has improved over the years, safe is better than sorry. Fortunately, the wad of $1000 in traveler's checks is a thing of the past."
Technical difficulties: "When in Australia, there was a software glitch or a broken cable and U.S. and New Zealand customers could not get to their cash via ATM for two days."
Synchronization: "When 9 hours of time differences exist, the San Francisco bank that is having file maintenance for an hour at 3:00 a.m. is updating the system during lunch in Western Europe."
Local Issues: "When driving into Switzerland, a vignette, or prepaid toll sticker, must be purchased for cash on the spot. No ATM there either."
"Having had cards embargoed because the credit card company got suspicious of misuse, we always call before we leave and alert the credit card company of where we'll be."
"Regardless of where the currency conversion is done with a credit card purchase, at the ATM you know it's being done at the bank rate, which tends to be the best rate available."
"ATM currency conversion is the best thing that's happened to travel since they put wheels on suitcases!"
"In recent months, I've I noticed a new fee on my credit card statement for currency conversion. Apparently some credit cards are now charging or attaching a fee to currency conversion on credit card purchases."
"I landed in Milan at midnight and was starving. By the time I made it to my hotel, I wish I had brought some euros with me as the late night eateries said no to credit and traveler's checks."
Care to add you own comments?
Have a question for Tom?
Tom Conway, who embraces the wisdom of his readers, looks forward to your questions, comments and tips.
Tom Conway, who embraces the wisdom of his readers, looks forward to your questions, comments and tips.
Comments
Just came back from China and Hong Kong. We were surprised and unhappy that Master Card charged 3% fee on all of our credit card purchases while oversea. We will think twice before using Master card oversea in the future especially on big ticket items.
Posted by: Charles Lau | June 29, 2007 11:25 AM
I have found that ATM's generally provide the best rates on currency conversion. It certainly is more convienent using plastic; however, the banks are now hitting you with currency conversion charges irregardless if you use an ATM or credit card. As usual the banks find new ways to nickel and dime you.
Posted by: Willy Tommola | June 29, 2007 11:46 AM
I have become very comfortable with the ATM cash conversion system and carry very little USA currency when I travel to Europe, Asia, Middle East, Texas, or Brazil.
You get an accurate rate, without the commissions charged at hotels or airports.
If you visit other countries frequently, its best to keep $100 or so of equal local currency in your travel bag. Taxis want cash.
Posted by: Ricky J | June 29, 2007 12:16 PM
Travel to Italy for two weeks last November; did not receive luggage until the last day. Filled out forms attaching receipts (took hours). British Airways has not responded or made restitution.
Is that common for European travel; lost luggage - too bad?
Posted by: Frances Armstrong | July 2, 2007 2:34 PM