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Best Way To Bring Money Overseas

Discussion in 'Social Life, Food & Drink, Travel' started by af1snaikboi, Mar 7, 2011.

  1. af1snaikboi

    af1snaikboi Well-Known Member

    Messages:
    394
    Joined:
    Apr 9, 2008
    Are AMEX traveler's checks the best way to bring money overseas? (To Paris)


    My bank (BofA) does have a partnership with BNP which will allow me free atm uses, but am wondering if I will get stung on the exchange rate?

    Thanks
     
  2. scourage

    scourage Well-Known Member

    Messages:
    136
    Joined:
    Oct 27, 2010
    no they are not.

    They are relics from the days when atms were not as common as today and people feared carrying 1000's of dollars. you have to pay for them right? and who really wants to accept a travellers check. I sure as hell wouldn't want to. Don't think banks screw you on the exchange rate. im sure you can look it up


    Are AMEX traveler's checks the best way to bring money overseas? (To Paris)


    My bank (BofA) does have a partnership with BNP which will allow me free atm uses, but am wondering if I will get stung on the exchange rate?

    Thanks
     
  3. acidboy

    acidboy Well-Known Member

    Messages:
    21,170
    Joined:
    Mar 13, 2006
    amex credit card
     
  4. Joffrey

    Joffrey Well-Known Member

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    Jun 18, 2006
    Location:
    Pennsylvania Ave/Connecticut Ave
    Some cash in the local currency and a credit card. I'm travelling in a few days and I'll carry mostly my Amex and maybe 50 euro.
     
  5. hooya2

    hooya2 Well-Known Member

    Messages:
    377
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    Mar 14, 2009
    in a suitcase
     
  6. globetrotter

    globetrotter Well-Known Member

    Messages:
    20,605
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    Sep 28, 2004
    Location:
    greater chicago
    I use an ATM, carry a small amount of cash
     
  7. Sazerac

    Sazerac Well-Known Member

    Messages:
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    Sep 1, 2010
    Location:
    Colorado
    The exchange rates from ATM's overseas are almost always better than what you can get changing currency in the U.S. before you depart. Change no more than you'll need for the first few hours in country, enough for cab fare and a bite to eat. Then hit up an ATM (not at the airport) when you arrive in the city where you're staying. (Also, don't exchange money at the hotel desk.)
     
  8. syracuse1976

    syracuse1976 Well-Known Member

    Messages:
    157
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    May 23, 2007
    Use a Capital One credit card. They are one of the few (if not the only one) who charge no foreign transaction fees. Their elite card, the Venture, offers good perks on top of this.
     
  9. dragon8

    dragon8 Well-Known Member

    Messages:
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    Location:
    San Francisco
    Use a Capital One credit card. They are one of the few (if not the only one) who charge no foreign transaction fees. Their elite card, the Venture, offers good perks on top of this.

    +1 on Capital One cc.
     
  10. ter1413

    ter1413 Well-Known Member

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  11. dragon8

    dragon8 Well-Known Member

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    If you have a HSBC account you can exchange currency without a fee in that country.
     
  12. xpress

    xpress Well-Known Member

    Messages:
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    Feb 12, 2009
    I know up here in Canada I often run into businesses which will not accept Amex.

    Some frequent Euro-travelers could certainly enlighten you more then I, but I would be worried about acceptance.
     
  13. Xericx

    Xericx Well-Known Member

    Messages:
    1,990
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    Location:
    Los Angeles
    If you have a HSBC account you can exchange currency without a fee in that country.

    I think I did get charged when I used an HSBC ATM in other countries (Mexico and the Philippines is where I've tried it). I got refunded for an ATM fee but not a foreign transaction fee of 1%.

    http://www.flyerguide.com/wiki/index...reign_Exchange

    looks like its 3% now...but 0% if you have an HSBC Premiere account.
     
  14. gladhands

    gladhands Well-Known Member

    Messages:
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    I usually change about $100-200 to the local currency before I leave, and use ATMs although the last couple times I've travelled abroad, I haven't taken any cash with me. As stated earlier, ATM exchange rates are better than those you get from currency exchanges.
     
  15. FunLovinStyle

    FunLovinStyle Well-Known Member

    Messages:
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    Joined:
    Jan 1, 2011
    Location:
    Connecticut
    The exchange rates from ATM's overseas are almost always better than what you can get changing currency in the U.S. before you depart. Change no more than you'll need for the first few hours in country, enough for cab fare and a bite to eat. Then hit up an ATM (not at the airport) when you arrive in the city where you're staying. (Also, don't exchange money at the hotel desk.)

    Yup exactly my strategy... grab a few bucks from the ATM at the airport and then the additional cash from an ATM in the city where I'm staying. ATMs have the most favorable rates (except at the airport where they usually add an extra 3% or so).
     
  16. zhouyu

    zhouyu Well-Known Member

    Messages:
    230
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    May 21, 2007
    Location:
    Big Apple
    I think I did get charged when I used an HSBC ATM in other countries (Mexico and the Philippines is where I've tried it). I got refunded for an ATM fee but not a foreign transaction fee of 1%.

    http://www.flyerguide.com/wiki/index...reign_Exchange

    looks like its 3% now...but 0% if you have an HSBC Premiere account.


    odd... withdrew from HSBC ATM in HK just last month... no fees
     
  17. MikeDT

    MikeDT Well-Known Member

    Messages:
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    Jun 24, 2010
    Location:
    China, Mongolia and UK
    odd... withdrew from HSBC ATM in HK just last month... no fees

    I would be extremely surprised if the HSBC(Hong Kong & Shanghai Banking Corp.) charged for withdrawals in Hong Kong.
     
  18. MyTailorIsRich

    MyTailorIsRich Well-Known Member

    Messages:
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    Jan 18, 2011
    Location:
    San Francisco
    French ATM's won't accept a PIN over 4 digits in my experience.
     
  19. yeeth

    yeeth Well-Known Member

    Messages:
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    Mar 13, 2011
    Location:
    Manhattan
    Yup exactly my strategy... grab a few bucks from the ATM at the airport and then the additional cash from an ATM in the city where I'm staying. ATMs have the most favorable rates (except at the airport where they usually add an extra 3% or so).

    is this really true? i've always brought what i thought was the bare minimum i thought i'd need for short trips and withdraw the rest, but that's to avoid double currency conversion and the losses associated with that.

    does this hold true in other coutnries or just the US?
     
  20. dragon8

    dragon8 Well-Known Member

    Messages:
    4,613
    Joined:
    Feb 19, 2007
    Location:
    San Francisco
    I think I did get charged when I used an HSBC ATM in other countries (Mexico and the Philippines is where I've tried it). I got refunded for an ATM fee but not a foreign transaction fee of 1%.

    http://www.flyerguide.com/wiki/index...reign_Exchange

    looks like its 3% now...but 0% if you have an HSBC Premiere account.


    odd... withdrew from HSBC ATM in HK just last month... no fees

    quite odd. Its never happened to me in the past.
     

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