Hi everyone! Hoping I can get some community wisdom... we are travelling to Europe this summer and, with the Canadian dollar dropping like a stone we were thinking we wanted to buy euros and pounds now. But we don't want to carry thousands of euros and pounds with us on our trip. Would love some advice on what we should do and how we should arrange our money/credit card.

Credit is widely accepted if your concerned about the currency. Spend more time in the eastern europe. Beautiful cheaper and lots of history.

Do a combination of both. With our falling Canadian dollar it may make more sense to have a bit more cash on hand if you're comfortable with that. Overall, I found that the charges on my credit card after returning from my trip was converted to paying a few percents more than what the posted daily exchange rate was at the bank or currency exchange that day.

Carry small emergency amts of each currency, and multiple small denominations of USD travellers cheques. (I'd highly recommend VBCE for best exchange rates)

I recall there being a funky thing, where euro ATM's all had 4? D mm digit pins. (Something like that-- find out!!)

*4 digit

Call ur banks/ credit cards, let them know ur going to Europe, so they won't autolock the cards when they see unexpected overseas charges

Carry some hard USD bills, for the most emergency of situations

Definitely! I suggest you also have a back up credit card as one my cards did not work at a restaurant for me that day. Luckily I had a back up card.

Research what currency is required in each country, & whether u can just swing by with euro dollars

It's a good idea to have cash on hand but only what you're comfortable with. We mostly used credit cards and were charged a small premium on exchange by royal bank. I know that it is very easy to get cash from ATMs in Italy, Austria, and Prague. Also, we were offered discounts at some hotels if we paid in cash.

Yeah.... Have at least 2 credit cards (I.e. a visa and an amex) some places have older machines and won't take ur card lolll

And have some euro, a few restaurants do not take credit cards and other and some AirB&B prefer cash. I found that especially true in Italy. and yes , very easy to get cash from ATM's. Always carry a spare credit card and some cash separate from you main wallet just in case it gets lost or stolen.

Katelyn Hicks

Travelex has a multi-currency cash card that you could load the money on instead of carrying cash. You can use it either like a MC or at an ATM to take out cash as you go (no per transaction fee, as long as the ATM itself doesn't charge a fee). There are some fees associated with loading it but I still found it worthwhile. (I had the single currency GBP one that I used in Scotland in 2010 and again last summer in London. I've never used the multi-currency one myself but a lot of people I met this summer did and they all seemed to like it.) http://www.cashpassport.com/1/global-landing-page/
CASHPASSPORT.COM
Cash Passport | Travel Money Card | MasterCard

Be careful with the ATMs in Europe. I used one in Italy and the charges were incredible. I paid something like 20E as a service fee but didn't realize it until after the transaction was over. There are many small exchange places/banks to go to rather than an ATM.

Remember that most of the UK DOES NOT take Euro's! Also check your credit card symbols as you can use many ATMs with no charge or direct debit from your Canada account.

I only ever take enough Euros or pounds to get me through the first 2 days. Before I leave I contact my bank to find out the affiliate banks that won't charge me atm fees for withdrawls.

I live in Germany and have a TD account. I would highly recommend opening an international rate TD Canada Trust account for 24.99/29.99 per month which allows unlimited transactions worldwide such as withdrawals from any ATM. The TD card is also a visa debit so you can use your card at the til where they accept visa anywhere like in the UK and Germany (like interac) and it takes money from your checking account. Usually it costs $5 per time without the international account so if you think you would use it more than 5-6 times per month then that's the way to go. It's free to open the account and free to cancel it when you're back. Plus TD has the best exchange rates.

This sounds really interesting! I'll check into TD. Thx!!

Susanna Welcome
. Used this way when I was going to university and all my funds were coming from Canada.

This account is free if you have over 5000 and doesn't dip below it

Mandeep Dhaliwal

In case you decide not to convert note that most credit cards charge a 2.5% f/x fee. There are 2 exceptions the rogers master card and chase canada Marriott visa

Td has no fees dependING on card. ING has banks in europe mostly in the eastern side

Thanks very much to EVERYONE!!! Really appreciate your comments and advice!!