Currency Exchange

SeniorHippies · Post by **SeniorHippies** » Sat 12th Dec 2009 06:49 pm

I have long been in the habit of changing currency right in Schiphol's baggage area. The rate always seemed fair. I admit I haven't done much more shopping for a good rate beyond a glance at the rates in the money changer's places along the Damrak. Am I wasting money? Where do you think I'd get the best rate of exchange?

Kingdoc · Post by **Kingdoc** » Sat 12th Dec 2009 07:49 pm

Get the money before you leave,Dont leave it as late as the airport for heavens sake.

SeniorHippies · Post by **SeniorHippies** » Sat 12th Dec 2009 08:29 pm

It is not at all easy changing dollars for euros here in the US. Perhaps in New York City it might be easy and economical, but I don't live in Manhattan and don't go there. Even with a good exchange rate, bank service charges make it a bad transaction in most places. I checked the rates at the money changers at JFK before my last trip, and their rates were a joke.

FlyByNite · Post by **FlyByNite** » Sat 12th Dec 2009 08:29 pm

See if your bank has any kind of fees, if not use your ATM card at one of the many machines around town. Be sure to let them know you will be using it in Europe. Saves the hassle of a blocked card for suspicious activity.

Enjoy
FlyByNite

Balou · Post by **Balou** » Sat 12th Dec 2009 10:07 pm

Wells Fargo usually has competitive , https://www.foreignexchangeservices.com/

Peace,
Balou

metal4mullets · Post by **metal4mullets** » Tue 15th Dec 2009 12:06 am

SH, I did a LOT of research on this before our trip and ended up ordering euros from my local bank. After arriving in the 'dam when we ran out of the money we brought I used the ATMs (at Schipol)....MUCH better!

If it makes you feel more comfortable, order a €100 or so just so you have money when you land, but then use the ATMs afterwards. The rate is MUCH better and there's a very minimal fee from your bank (check anyway, though) of around $2.

Also, if you decide to go this route call your bank and let them know you'll be out of the country. Make sure you're daily limit is high enough as well...I believe I raised mine to $500-$600 a day which will get you €400+ in Amsterdam. You can make one large withdrawal per day if you really need that much money but you save a LOT on the exchange using this method. I was too hesitant to go this route and came to regret it upon reflection.

geoffk · Post by **geoffk** » Tue 15th Dec 2009 12:08 am

metal4mullets wrote:SH, I did a LOT of research on this before our trip and ended up ordering euros from my local bank. After arriving in the 'dam when we ran out of the money we brought I used the ATMs (at Schipol)....MUCH better!

If it makes you feel more comfortable, order a €100 or so just so you have money when you land, but then use the ATMs afterwards. The rate is MUCH better and there's a very minimal fee from your bank (check anyway, though) of around $2.

Also, if you decide to go this route call your bank and let them know you'll be out of the country. Make sure you're daily limit is high enough as well...I believe I raised mine to $500-$600 a day which will get you €400+ in Amsterdam. You can make one large withdrawal per day if you really need that much money but you save a LOT on the exchange using this method. I was too hesitant to go this route and came to regret it upon reflection.

Yup that's what I do.

Pauli Wallnuts · Post by **Pauli Wallnuts** » Tue 15th Dec 2009 12:16 am

if your gonna use your card take out the maximum or as much as your gonna need, instead of using it everyday & getting hit with bank charges everytime you use it, also be aware that although your bank might have a good rate when taking money out abroad, depending on which atm you use they will also charge you a fee, in my experience fortis charge the least, abn amro charge the most, but thats with my bank (natwest) for other banks it might be the other way round, me personally i always change my money before i go, there is usually competetive rates between my bank, post office & marks & spencer

munkyboy2k · Post by **munkyboy2k** » Tue 15th Dec 2009 06:23 pm

Picking up the currency at the airport is also a really good way of doing it!

You just order on the website before hand and collect upon arrivial the rate also whips what the PO and banks offer most the time!

Old School Smoker · Post by **Old School Smoker** » Tue 15th Dec 2009 10:41 pm

For what it's worth my employer uses FairFX for all their FX business. I also use them for my personal travel cash, I find their rates and service to be very good. (Far better than my bank or the Post Office)

Website...
http://www.fairfx.com/

(unfortunatly they only do business with UK residents at the moment, but they tell me that will soon change)

Peace,
Old School.

Pauli Wallnuts · Post by **Pauli Wallnuts** » Tue 15th Dec 2009 10:59 pm

Old School Smoker wrote:For what it's worth my employer uses FairFX for all their FX business. I also use them for my personal travel cash, I find their rates and service to be very good. (Far better than my bank or the Post Office)

Website...
http://www.fairfx.com/

(unfortunatly they only do business with UK residents at the moment, but they tell me that will soon change)

Peace,
Old School.

thanks for that OSSmoker, ive never heard of them before, but just had a quick look & they definatly do have a better rate than the others, will be using them next time

sam · Post by **sam** » Wed 16th Dec 2009 12:27 am

I am also from the US and after 6 trips(61days) the best way I have found is to use your debit card. Tell your bank when you will be there and raise your daily cash limit to reduce # of transactions. I have never had a atm anywhere in the netherlands charge me a fee, my bank only charges $1.50 per transaction, and you get the exchange rate the banks charge each other. I hope this helps.