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When to convert currency

post #1 of 3
8/15/09 at 2:13pm
Thread Starter 
Hey guys,

I'm going to Montreal on Monday. My bank has a partner bank at whose Montreal ATMs I can withdraw for free. Would it be wise to convert some American dollars to Canadian before I go, or should I just wait until I get there to withdraw cash? I plan on making most purchases by card, anyway, but, of course, it never hurts to have cash on you.
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post #2 of 3
8/15/09 at 2:24pm
If I'm not mistaken, the cheapest way to get foreign currency is to

1) Open a checking account with a bank that reimburses ATM expenses
2) Use the ATM in the foreign country.

CC's will get you a 2-3% foreign fee. ATM charges are even worse if not reimbursed.
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post #3 of 3
8/15/09 at 2:38pm
I recently went to Australia and I just withdrew money from ATMs that my bank back in the US had a partnership with. They only charged what I believe to be a 1% conversion fee.
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