In countries without hard currency, I always exchange there rather than at home, but I will be in Amsterdam in six weeks, and I don't know if it is advantageous to exchange before I come to the Netherlands or not. Can anyone tell me what the banks are giving for US$ so that I can compare? I will have cash in large denominations.
Do the Schiphol Airport exchange desks offer reasonable rates, or should I wait until I can go to a bank in the city if I exchange in A'dam?
Thanx
Why on earth will you have cash? And last time I checked the Euro was a hard currency. Use ATMs like civilised people
The exchange desks at Schiphol charge a pretty hefty commission (last time I checked, last year or so, ABN Amro charged around €7,50 per transaction).
If I were you I'd forget about bringing large wads of cash - there are ATMs everywhere that won't charge you for euro withdrawals (though your American bank may apply transaction costs) and it's not very smart to walk around Amsterdam in a jet-lagged state with hundreds of dollars in your pockets.
And last time I checked the Euro was a hard currency
Maybe Pontex is referring to the American peso?
sounds a bit naíve to me. Keep it simple. Atm that don't charge at the Rurope end.
Money belt. You won't need one, till you already did.
Sorry for any unclarity. I asked because the Euro IS a hard currency, and freely available most places. I have found, however, that ATMs are pricey and often give poor exchange rates. But, I would still like to know what the current exchange rate is in A'dam. If I can do better at my bank in the US, I will get the Euros here.
Use any online currency calculator to see what you get for your American peso. The rate won't change much between banks at Amsterdam airport or downtown Amsterdam. The actual exchange rate is 1 US $ = 0.73 €.
Most ATM's that are run by banks use their own banks Telegraphic Transfer rate, witch is about the best around. And they do charge a fee, that generally is a flat fee per transaction, so it is the same fee is charged for taking out $50, as it is for $500. So the rule of thumb generally is to use only ATM's that are run a a reputeable bank, and to reduce fee's it is way better to take out large amounts, not small amounts all the time.
I have found, however, that ATMs are pricey and often give poor exchange rates.
Nonsense with a capital N.
ATMs use a rate that is generally about 1 or 2 % above the interbank rate. Cash transaction are done at at least 5% of the interbank rate, and sometimes at 10% above. ATMs are ALWAYS cheaper than cash and changing USD for EUR in Europe is ALWAYS cheaper than doing it in the US. (disclaimer: when I say ALWAYS i mean in 99% of cases)
There may be fees for ATM withdrawals but these are set by your home bank. my US bank charges 1$ per overseas ATM withdrawal- peanuts.
This question comes up once a week and the outcome is always the same- ATMs are cheaper (as well as safer)
