Change Money

[barryg]

I am coming from the US. Should I change my dollars to Euros in the US or when I arrive?

 

[Deleted member 3000]

When you arrive. However, even better will be to buy Euros on your bank debit card when you get here. If you get about 300 Euro each time, you will minimize fees. Exchanging at the airport is the most expensive option. Changing bills or travelers cheques is nearly impossible everywhere.

 

[Marbe2]

I try to minimize cash usage by using a credit card with no conversion fees. In addition credit cards usually get a better exchange rate. You cannot use them at every Albergue. However, you will find some that will allow you to charge both food and accommodations. We always have enough cash should the next two or three albergues only take cash. Most of the The larger towns along the CF have ATMs. Last Camino, we only paid cash at 2 accommodations, but we stayed in in a combination of albergues, private homes, hostels, and hotels.If you use a credit card, make sure you pay in EUROS!!

 

[trecile]

There are many threads on this subject. To get cash you will get the best exchange rate by using ATMs. Many of us from the US use a Charles Schwab account because they refund all ATM fees.

 

[Deleted member 67185]

I try to minimize cash usage by using a credit card with no conversion fees. In addition credit cards usually get a better exchange rate. You cannot use them at every Albergue. However, you will find some that will allow you to charge both food and accommodations. We always have enough cash should the next two or three albergues only take cash. Most of the The larger towns along the CF have ATMs. Last Camino, we only paid cash at 2 accommodations, but we stayed in in a combination of albergues, private homes, hostels, and hotels.If you use a credit card, make sure you pay in EUROS!!

A quick caution for those who are unaware of the specific conditions, charges, and fees for cash withdrawals at ATMs or a bank.....
While not universal, most credit cards will treat ATM withdrawals as a 'cash advance' which incurs higher interest rate charges in addition to other fees, such as using an ATM. Also, for most cards, there are currency exchange fees. So be sure, if one decides to use a credit card, of the costs that are part of such usage.

My Schwab debit card is connected to my free Schwab checking account (which does pay me interest on monthly balances). That account was opened solely for the purpose of travel. It is linked to my regular bank accounts at a different bank for the purposes of transfering funds to my Schwab account; however, that link is encrypted and requires specific security protocols in order to be used. In other words, there is no real, practical danger of my regular account being hacked. Which I guess is not much of an issue anyway, as banks do not hold the account holder responsible for losses due to fraud and will replace funds.

The Schwab account reimburses all ATM fees, does not charge for currency conversions, and the account itself is not only free, but as I wrote above, pays a bit of interest on balances.

 

[Anniesantiago]

I go to the ATM when I arrive at the airport and get Euros.

 

[Derek Booth]

Strictly against THEIR rules but I make a small purchase in the UK prior to travelling using my credit card and then, when it has registered on the statement, I go online and massively overpay ie. £30 debt, put £330 into the account. That gives me a £300 credit balance. When I get to Europe I go to the ATM and withdraw €300. That still leaves me in credit. ie € is less than £ then try to use my CC as much as possible, until such time as I have spent my cash and then repeat the exercise.
In that way, I have never been charged Interest on my CC Account