European Money and
Currency Exchange
ABOVE: Most of the currencies in
this photo are now gone, having been replaced by the euro in 2002.
When you need to obtain or exchange
money in Europe, the solution is usually easy: Use your ATM card (but be sure to
read our ATMs and Currency Exchange
Machines and ATM "Conversion
Fees" articles before you leave home.)
You'll almost always get a better rate from an ATM than from a bank, an
exchange counter, or--worse yet--a hotel or shop.
Also beware of hidden fees on overseas transactions with credit cards, which
can range from 2% to 5%. Read our
credit-card surcharges
article, then check to make sure that your
Visa or MasterCard provider isn't double-dipping every time you make a purchase
in a foreign currency. Also see the other tips and warnings in our article on
Using credit cards in
Europe.
ATM "conversion fees" can
also suck money from your budget. And prepaid travelers' cash cards are even worse, as
we explain in our article on the
Visa TravelMoney cards.
If you're from outside the euro zone, read our euro article to learn how the "common currency" of 16 European
nations will (or won't)
affect your trip.
Finally, if you're on a budget and are worried about exchange rates, read
Money-Saving European Travel Tips before deciding that you
can't afford a European or Continental vacation.
Currency-exchange tip: Before changing small amounts of money, make sure the bank or exchange
counter doesn't charge a flat fee or a minimum commission.
For more information, including ATM locators and online currency converters,
see:
European
Money/Currency Exchange (Links)
| 
Durant
& Cheryl Imboden's
