[Idyllchat] ATM, debit, credit, pin, etc.

[Robert Bestor]

Fees for using various debit and credit cards (btw, don't use your credit
card for cash advances) overseas are onerous but the number one issue in
getting foreign currency for dollars is the exchange rate. Someone on this
list told how, at their U.S. bank, they exhanged several thousand dollars
for euros. Yes, that avoids fees in Europe but it's not very secure and,
perhaps more important, bank exchange rates for obtaining euros in cash or
travelers checks are typically lousy. One Idyller told how his bank quoted
him one euro for each $1.68 when the bank-to-bank exchange rate (which he
would have gotten with his ATM card) was $1.58. On a $3000 currency swap he
would have gotten 123 fewer euros or about $194. Check any offered exchange
rate against rates quoted at www.xe.com.
Bob

On Sat, Apr 12, 2008 at 8:09 PM, Robert A Meyer <hmrm34 at verizon.net> wrote:

>  Now I am thoroughly confused so I shall continue doing what I have been
> doing for a decade or so.  Haven't lost any money or identity yet and pay no
> extra fees to financial institutions.
> Bob Meyer
>
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