Help! I need to get some Euros for our upcoming trip and I'm wondering where (in Canada) would be the best bet for the best rate. Thomas Cook is selling the Euro for about $1.58cdn, HSBC - $1.66cdn and TD - $1.68cdn. Obviously Thomas Cook would be the number one choice. We're going to need about E1000 as we have booked B&B's that require cash and we will likely use the ATMs to make further withdrawals. Thanks in advance.
Anna - Consider doing a bank transfer to the B&B owner's account as opposed to carrying that much cash. I believe you will also get a substantially better rate. I have been using XE.com (which I believe is a Canadian company) for a number of years and have been very satisfied with their rates and service. I looked into buying euros in advance this year to pay for some big transportation bills and found the costs prohibitive.
Originally posted by AnnaP: Help! I need to get some Euros for our upcoming trip and I'm wondering where (in Canada) would be the best bet for the best rate. Thomas Cook is selling the Euro for about $1.58cdn,
This sounds way too good to be true. Check any and all fees. Include them in your calculations.
Bank transfer can have fairly high fees for a small transfer. RBC [Royal] sent me some spam about a new low amount transfer but I think it maxed out at $1000.
This is fine if all you are doing is paying for local transport, food, small daily purchases. You need a lot more tahn your dailyu limit if you are going to start paying for your loding with cash. One can get one's limit raised by one's bank, but ATMs each have their own limits set by the bank that they belong to. Even if your limit is higher it doesn't mean that this ATM will dispense that amount. In a big city you can go from ATM to ATM and eventually you might find one that will dispense what you need for your lodging.
In addition ATMs sometimes have quirky problems that don't seem significant until you really NEED that money to check out of you lodging. Many people travel for yearsand don't experience them. Even with my smaller ATM withdrawls I have experienced quirky things like none of the ATMs dispensing cash on one Sat and then no problemo on Sun. The once in Sorrrento I have 3 daily withdrawal (one per day) and then no more: call your bank. The bank back in the USA says there shouldn't be a problem, but it is a problem. I get cash advance to tide me over the rest of the vacation.
Get enough eurosd for your lodging and carry under you clothes in a money belt. Get the rest of your cash from an ATM.
Posts: 4354 | Location: St Paul, MN | Registered: 10 February 2006
There probably have been way more than 50 posts on this subject in the past if you search the Italy Forum. Each person should weigh how confortable they are with the alternatives and go with that.
When visiting Rome I have always stayed in Apts unless I was only staying overnight. At the airport you get picked up and taken to the apt where you discuss the the apt sign, get the keys and pay up in euros. About the only ATM you might be able to pick up some euros are the ones at the airport. if that one isn't working or won't dispense 1000 euros you are in trouble. Once you get used to traveling with your rent money in a money belt under your clothes it is not so bad and you are sure that you will have it.
3% difference on 1000 euros is only 30 euros or 42 dollars. People often spend more than that on one taxi fare, or lunch. It is worth to to some people to be sure that you have the money when you need it. Italian landlords should join the 21th century like French ones and accept Paypal payments so that they could be paid by credit cards and all this stuff would be easier.
Posts: 4354 | Location: St Paul, MN | Registered: 10 February 2006
We've been here for almost 6 yrs. and I can count on one hand the number of times we've had a problem with an ATM. We use the postal bank ATM every month. we have a $500 a day limit so 3 or maybe 4 times we get money using their ATM.
The postal bank ATM has always given us a rate very close to what you will see on-line or on TV. We belong to a credit union in the states and if there are ever any fees they reimburse us. We never pay the 3or4% that some folks complain about.
Have your bank raise your limit and I can't imagine $500 dollars a day not being enough. Depending on the rate, we get anywhere between €350 and €380 for $500. If you need to wire the money for lodging do it and bring maybe a €100 or €200 to get you thru the first day. Then go to an ATM.
As mentioned earlier there have been dozens of threads on this topic.
At the airport you get picked up and taken to the apt where you discuss the the apt sign, get the keys and pay up in euros. About the only ATM you might be able to pick up some euros are the ones at the airport. if that one isn't working or won't dispense 1000 euros you are in trouble.
In Italy we have stayed at commercial hotels and family-run rooms. We always asked to pay $300/$400 per day based on ATM withdrawals, and have never been turned down.
Posts: 401 | Location: Northern VA | Registered: 13 October 2004
I have read dragonpat's posts many times now, (on the many forums regarding ATMs and euros, etc.) and appreciate her advice. We have been asked to provide over 1000 euros upon our arrival in Rome for our apartment rental, and our only option -- other than buying euros in advance -- is the airport ATMs. For our other rentals in Italy and France, we will have time to extract the appropriate amounts for our rentals. We would have preferred paying by credit card or Paypal, but that didn't seem an option, therefore, we have bought euros in advance, at least for this first payment. I guess it seems impolite ?? to suggest that we pay daily especially as the rental agency was clear we needed euros upon our arrival.
Nevertheless, I thank dragonpat for her advice (and have tagged her very helpful maps, BTW).
Posts: 27 | Location: Oakland, CA | Registered: 04 October 2007
What about paypal? Are the charges, for using this system to pay the balance due, less than buying the euro from your bank before you leave?
Paypal would be great if Italian landlords would accept it for payment. I can accept credit card payments through paypal. There are extra charges, but on ebay often British sellers had been explicit that extra charges need by be paid by the buyer when paying by paypal.
landlords might not like the part about the 30 day delay in getting their money out of the system. This is the guard against fraud on the buyer. If the buyer/renter files a fraud complaint within 30 days of making the charge, payment is frozen until the complaint is resolved. French landlords don't seem to be averse to Paypal.
as for paying your rent day by day, maybe that works at some places. One B&B I stayed at said that they accepted credit cards, but when I got there, it was clear that they really wanted cash and they wanted to be paid in full when I checked in. Lucky for me I had gotten enough euros at my bank in the US for food and spending money to pay for my lodging. The ATM worked great for the first 3 day of my vacation, but after that it was kaput.
Posts: 4354 | Location: St Paul, MN | Registered: 10 February 2006
Originally posted by dragonpat: Paypal would be great if Italian landlords would accept it for payment. .....There are extra charges, ....landlords might not like the part about the 30 day delay in getting their money out of the system.
Thanks, Dragonpat. I didn't know this part of the deal. Since we sent our deposit by paypal it was just a moment and wishful thinking on my part.
Posts: 917 | Location: Simi Valley, California | Registered: 20 March 2002
moment and wishful thinking on my part.
