Londonderry News

Whether you need euros, pounds or forints, using your ATM card in Europe is almost always the least expensive and most convenient way to get cash. Waiting in long bank lines to cash traveler’s checks is no longer necessary.  ATMs are the standard way to get local currency, giving you more time to enjoy your vacation.

One of the greatest advantages of exchanging money with your ATM card is that the wholesale exchange rate is used.  This rate is much better than the rate you can get from exchanging traveler’s checks at a bank or exchange bureau. Most ATMs charge a flat fee per transaction and/or may charge a currency conversion fee (usually 1-3%). Even with the fees associated, the rate is better than using traveler’s checks.

An ATM commonly seen in Germany.

ATMs are widely available throughout Europe, just like they are in the U.S.  According to PLUS (Interbank network), there are over one million PLUS linked ATMs in 170 countries. When making a withdrawal with your debit card, money is taken out of your account and dispensed in the local currency of the country you are making the withdrawal in.

Here are some tips for using an ATM card in Europe:

• Call your bank and let them know that you will be traveling. This will prevent the bank from putting a hold on your account thinking it was stolen.  Write down the international phone number in case your card is lost or stolen.
• Bring two ATM cards in case one is lost or stolen.
• Be sure your PIN number has 4 digits, as most European PIN numbers have only 4 digits. Test your PIN before you leave for your trip.
• Exchange $200.00-$300.00 in the local currency at the airport before you leave the U.S. There is nothing like arriving in Prague, bleary eyed from your over-night flight trying to find an ATM, so you have money for coffee or cab fare.
• When you use an ATM, withdraw the maximum (usually 250.00 euros) because you will most likely be charged a transaction fee. Most banks charge a flat fee, regardless of how much you take out. Don’t take out 20 euros 5 times in one day with a fee of 6 euros per transaction, for a total fee of 30 euros.  It’s much more cost effective to withdraw 100 euros at one time for one fee of 6 euros.

Cindy Baldwin’s love for travel has taken her all over the globe.  Some of her favorite destinations include: Sancerre, France, Kusadasi, Turkey, Kona, Hawaii, and anywhere in Italy.  TravelWise, Cindy’s Londonderry based travel agency utilizes her combination of personal experiences and vacation planning skills to make your dreams come true one vacation at a time. Cindy lives in Londonderry with her husband, Mark and has three daughters. Visit TravelWise online for more information on how Cindy can handcraft the perfect travel itinerary for you!