Withdrawing cash in europe question

cue

I want cash in europe, what's the most efficient way of doing it?

Preferably i want to get my cash in europe, not in the uk first.

dzug1

Normally using your debit card in an ATM - but it does depend on which bank you are with

alanrowell

dzug1 wrote: »

Normally using your debit card in an ATM - but it does depend on which bank you are with

And how much you withdraw at a time as some banks have either fixed or minimum charges which makes withdrawing small amounts A Very Bad Idea

Voyager2002

cue wrote: »

I want cash in europe, what's the most efficient way of doing it?

Preferably i want to get my cash in europe, not in the uk first.

And which continent is the UK on?

Anyway, the answer to your question might depend on whether you want Swiss francs, Polish Zloty, or even Danish Kroner.

Bob_the_Saver

Voyager2002 wrote: »

And which continent is the UK on?

Don't rely on the Daily Wail for the answer to this one.

cue

Sterling to Euro and the bank is Santander, which i know charge a fortune to withdraw money using a debit card via an ATM.

I' thinking Travellers Cheques may be the best route as i'm going in a week and a half and don't have enough time left to apply for a new account...

Any thoughts?

Bogtrotter

This year is the first I've been to europe without buying any Euros beforehand (normally I'll purchase a small amount for pocket money).

Loaded up my FairFX prepay eurocard with my debit card. Stopped at the first ATM I saw in France and withdrew €300 with a ATM fee of €1.50.

If you intend to withdraw more smaller amounts you can use CaxtonFX eurocard which doesn't have an ATM fee but has a slightly poorer euro/sterling rate (only by about 50cents per £100). Caxton require you to register your debit card details with them as well which I have chosen not to do this time.

FairFX also allow you to topup from credit card (for a reasonable fee) and bank transfer which may be more convenient.

zagfles

cue wrote: »

Sterling to Euro and the bank is Santander, which i know charge a fortune to withdraw money using a debit card via an ATM.

I' thinking Travellers Cheques may be the best route as i'm going in a week and a half and don't have enough time left to apply for a new account...

Any thoughts?

When you say "a fortune" how much exactly? Bear in mind the amount they state will be on the VISA/Mastercard rate which is pretty much interbank, whereas if you change cash or TCs you'll get a rate about 5% worse than the interbank.

It's very unlikely TCs will be better value than using your bank ATM card.

benjus

If you're short on time, you could always get one of these - http://www.travelex.co.uk/uk/cash-passport-globe.aspx - they are denominated in Sterling so you only convert currencies when you make a transaction. The exchange rate markup is only 1.49%, which is better than your debit card and much better than TCs. It's also cheaper than the Euro-denominated prepaid cards (plus it has the advantage that it will give optimal rates in any currency, not just Euros). There are no fees for withdrawing cash (except withdrawals in the UK).

If you can pick it up from a TravelEx branch you can order one with as little as 4 hours' notice.

Doshwaster

Bogtrotter wrote: »

Loaded up my FairFX prepay eurocard with my debit card. Stopped at the first ATM I saw in France and withdrew €300 with a ATM fee of €1.50.

If you intend to withdraw more smaller amounts you can use CaxtonFX eurocard which doesn't have an ATM fee but has a slightly poorer euro/sterling rate (only by about 50cents per £100). Caxton require you to register your debit card details with them as well which I have chosen not to do this time.

FairFX also allow you to topup from credit card (for a reasonable fee) and bank transfer which may be more convenient.

A couple of things to bear in mind
1) The ATM provider may also impose a fee on the withdrawal. As in the UK, it varies from bank to bank
2) Your UK bank may charge you for loading a currency card. HSBC don't, some others do.

As you say, there's not much between the FairFX and Caxton cards. Personally, I prefer the Caxton as there are no ATM fees (subject to #1 above) so you aren't hit if you only want to take out €10.

SaveTheEuro

cue wrote: »

Sterling to Euro and the bank is Santander, which i know charge a fortune to withdraw money using a debit card via an ATM.

I use a Santander zero debit card at ATMs abroad and there are no charges at all. I know of no cheaper way of converting sterling into euros.