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European Delivery
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  #1  
Old 10-01-2007, 10:46 AM
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paying for things oversees

i saw a post earlier on the breakdown the fees credit cards charge when shopping in europe ... visa: 3%, amex: 2%, capital one: 0%

what other options do i have for purchasing things? amex travelers cheques? etc?
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Last edited by vitaly; 10-01-2007 at 10:54 AM.
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  #2  
Old 10-01-2007, 11:12 AM
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Cash?
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  #3  
Old 10-01-2007, 01:22 PM
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Cash!

Just remember that the cash exchange rate is often worse than the credit card one, usually about +2%.
Should you prefer TC's... they're usually accepted directly at tourism oriented businesses only (i.e. hotels). And get them in local Euro currency to minimize the risk having to pay additional fees when encashing them.
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  #4  
Old 10-01-2007, 05:44 PM
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If you belong to a credit union, check their rates for cash withdrawals. My charges no fees and exchange rate at the bulk rates.

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  #5  
Old 10-01-2007, 06:26 PM
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Quote:
Originally Posted by vitaly View Post
i saw a post earlier on the breakdown the fees credit cards charge when shopping in europe ... visa: 3%, amex: 2%, capital one: 0%

what other options do i have for purchasing things? amex travelers cheques? etc?
I always try to get someone else to pay. That seems to work out best.
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  #6  
Old 10-01-2007, 06:36 PM
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AZ-BMW AZ-BMW is offline
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Quote:
Originally Posted by vitaly View Post
i saw a post earlier on the breakdown the fees credit cards charge when shopping in europe ... visa: 3%, amex: 2%, capital one: 0%
what other options do i have for purchasing things? amex travelers cheques? etc?
Open a BofA checking account and get an ATM card. Then use this ATM card at any Duetsche Bank ATM for interbank exchange rates and no usage fee (either from DB or BofA). It worked great for me on my ED trip to help minimize credit card usage.
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  #7  
Old 10-01-2007, 06:58 PM
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A little more info

Quote:
Originally Posted by AZ-BMW View Post
Open a BofA checking account and get an ATM card. Then use this ATM card at any Duetsche Bank ATM for interbank exchange rates and no usage fee (either from DB or BofA). It worked great for me on my ED trip to help minimize credit card usage.
I calleed BofA a few days ago and the Deutsche Bank 24 use is only good in Germany. They charge no fees. In France it is PNB Paribas. They have no affiliation with banks in Italy, Austria or Switzerland. Use of Deutsche Bank in any other country other than Germany will result in the ATM fees being charged. This info is also on their website: http://bankofamerica.via.infonow.net...tLoadAction.do look on the right in the column.
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  #8  
Old 10-01-2007, 07:39 PM
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It really doesnt add up to enough to worry about. A 3% fee on a thousand dollars is $30. Not worth the hassle of getting around just for the trip.
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  #9  
Old 10-01-2007, 08:30 PM
ebfonhome ebfonhome is offline
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its not so much the 3% fee its the 20% interest rate they charge on credit card cash advances!

By the way, I'm leaving tomorrow for my 10/4 pickup of my 535xi!
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  #10  
Old 10-01-2007, 08:45 PM
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Quote:
Originally Posted by ebfonhome View Post
its not so much the 3% fee its the 20% interest rate they charge on credit card cash advances!
Who in their right mind would use a cr card for a cash advance?

Quote:
Originally Posted by ebfonhome View Post
By the way, I'm leaving tomorrow for my 10/4 pickup of my 535xi!
have a great trip, you are among the very last to pick up in Freimann.
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  #11  
Old 10-01-2007, 08:57 PM
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Who the hell has a credit card with a 20% rate?? My biggest % rate out of all my cards is 12.99% and I think thats steep.
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  #12  
Old 10-01-2007, 09:01 PM
filstan filstan is offline
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Your ATM cards work fine, but fees went up last year whereas before the fees were minimal. I try and take out the maximum cash allowed. Try and get your bank to raise your daily limit. Cash is still king in Europe. I think all merchants will add 3% if you use a credit card. I opened a bank account in Austria and have a credit card and ATM card now with HYPO Bank. The ATM cash has no fees and as long as the dollar is going down I will use this card when in Europe. I wire money from the US to keep enough in the account to travel with. Bring Euros home if you know you are going back within 4-6 months. This is the program until the dollar turns which hopefully will be soon.
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  #13  
Old 10-01-2007, 09:26 PM
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Remember to get the tax refund on your purchases whan heading home.
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  #14  
Old 10-01-2007, 09:47 PM
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Quote:
Originally Posted by Hammerwerfer View Post
Remember to get the tax refund on your purchases whan heading home.
And if possible, esp. for large items, get it directly from the establishment, not via the VAT refund service.
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  #15  
Old 10-02-2007, 10:09 AM
ebfonhome ebfonhome is offline
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Quote:
Originally Posted by JSpira View Post
have a great trip, you are among the very last to pick up in Freimann.

If I'm last I'll be sure to turn the lights off when I leave!
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  #16  
Old 10-02-2007, 02:40 PM
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Quote:
Originally Posted by filstan View Post
Your ATM cards work fine, but fees went up last year whereas before the fees were minimal. I try and take out the maximum cash allowed. Try and get your bank to raise your daily limit. Cash is still king in Europe. I think all merchants will add 3% if you use a credit card. I opened a bank account in Austria and have a credit card and ATM card now with HYPO Bank. The ATM cash has no fees and as long as the dollar is going down I will use this card when in Europe. I wire money from the US to keep enough in the account to travel with. Bring Euros home if you know you are going back within 4-6 months. This is the program until the dollar turns which hopefully will be soon.
Actually, very few merchants charge extra if you pay by credit-card but the suggestion about opening a bank account in Europe if you plan to return annually is an excellent one. You will be issued with an ATM card automatically and a debit-card on request. Just wire over your money ahead of your arrival and withdraw whatever you need either at your bank or through ATMs.
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  #17  
Old 10-02-2007, 02:55 PM
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Capital One offers a no-fee Visa card that doesn't have a forex mark-up at all. That's useful for credit card charges. For cash, I use my regular ATM card and just put up with the annoying charges (1% plus $5 per transaction).
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  #18  
Old 10-02-2007, 02:58 PM
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bank account

Quote:
Originally Posted by john lance View Post
Actually, very few merchants charge extra if you pay by credit-card but the suggestion about opening a bank account in Europe if you plan to return annually is an excellent one. You will be issued with an ATM card automatically and a debit-card on request. Just wire over your money ahead of your arrival and withdraw whatever you need either at your bank or through ATMs.
what do I need to open a bank account in Europe?
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  #19  
Old 10-02-2007, 04:19 PM
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Originally Posted by DXK View Post
what do I need to open a bank account in Europe?
cash!! heard of swiss bank accounts?!
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  #20  
Old 10-02-2007, 04:54 PM
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Quote:
Originally Posted by am_ver View Post
cash!! heard of swiss bank accounts?!
Trying to remember the numbers would drive me crazy. Did you see all them numbers Jason Bourne had to put in? Then you have to deal with the stuffy, snooty guys acting like they are all important.

Seriously, when you actually add it all up, my Capital 1 card charges no foreign fees, and your bank card fees really don't add up to enough to be worth a hassle. Just my opinion.
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  #21  
Old 10-03-2007, 09:22 AM
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Check Amex travel card. It offers in different currencies. You use it like cash in form of card. You deposit money into the card and start using it. Merchants debit from your card. It is better than carrying many many traveler checks.
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  #22  
Old 10-03-2007, 02:45 PM
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VIZSLA VIZSLA is offline
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Quote:
Originally Posted by Hammerwerfer View Post
Remember to get the tax refund on your purchases whan heading home.
Good luck with that. I raced all over Frankfurt Airport to get the paper work processed last June and still haven't seen my refunds!
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  #23  
Old 10-03-2007, 03:03 PM
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Originally Posted by VIZSLA View Post
Good luck with that. I raced all over Frankfurt Airport to get the paper work processed last June and still haven't seen my refunds!
Didn't you have them hand you the refund there?
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  #24  
Old 10-03-2007, 03:17 PM
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If I'm last I'll be sure to turn the lights off when I leave!
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  #25  
Old 10-03-2007, 04:20 PM
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Quote:
Originally Posted by JSpira View Post
Didn't you have them hand you the refund there?
We had to have the forms stamped by the Green Police and then mailed them off. The refund was to be in the form of credit card refunds as I remember.
When I commented that their offices had odd hours and that they were in obscure locations the officer politley (and candidly) informed me that it was not accidental.
The amounts were small enough that I'm not too upset, but still....
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