Exchanging CAD to EUROS

[wooohooo]

Anyone know the best way to do this? I heard exchange through ATM in Europe but seems a little sketchy if I can't get my card to work.

[BigBrodieFan]

Originally Posted by wooohooo

Anyone know the best way to do this? I heard exchange through ATM in Europe but seems a little sketchy if I can't get my card to work.

You're right- exchange the money at a bank first.

We go to Canada every year at Christmas and I have a hard time finding an ATM with my logo on the back. Last time I was in Europe I had the same problem. Too much time will be wasted trying to find the correct ATM.

The very best way would be to use your debit card to purchase merchandise. Now, in the US everyone has a VISA or MASTERCARD symbol on their debit card so it works just like a credit card. In Canada (or maybe it's just small town Chatham, not sure), most people don't automatically have the VISA or MASTERCARD logo on their debit card and they just use their PIN to purchase things in Canada. My brother told me that in Canada you have the option to ask your bank to put a logo on your debit card, and then you can just use it wherever you are in the world as a credit card and then your bank will do the calculations for you. Much safer and easier than carrying cash, and you can just check your balance online anywhere and see the transactions/money exchange.

[FlameOn]

I just went to my bank. But you'll probably get a better rate once you're over there. I've done ATM in Europe too and anything with the maestro logo will work with interact.

[Rory_B._Bellows]

Was just there thsi past summer, I exchanged at Forex. They gave us the best rate, even compared to the banks. If you go through an ATM they hit you a little harder. Never go through a foriegn echange in europe, they rake you over the coals there. We changed some american money over there to euros and got the worst rates.

I believe there is a Calforex in Chinook now and there is one dowtown on Stephen Avenue mall.

The rates have gone down the last little while, but still the CAD to Euro is much better now than it was a year ago.

[Vansmack]

I've done ATM in Europe, anything with the maestro logo will work with interact.

I brought ~500 euros in cash, used my visa everywhere it was accepted, and never had a problem withdrawing cash from atms.

[wpgflamesfan]

Get an account with Scotia. They have partnerships with a bunch of banks in Europe and charge you no fees when you do pull money out. So far I've been in London (Barclays), Paris & Nice (BNP Paribas) and Milan,Verona, & Venice (BNL) and have never had a problem finding one of the partner banks or with any over charges. Mastercard/Visa should also work too but i think they charge a small percentage on each purchase.

Here's some more info:
http://www.scotiabank.com/cda/conten..._LIDen,00.html

[Icon]

Originally Posted by Vansmack

I brought ~500 euros in cash, used my visa everywhere it was accepted, and never had a problem withdrawing cash from atms.

This is what I did too.

Almost everywhere took Visa. Just needed cash for small stuff here & there.

Yay Avion points.

[jtfrogger]

Originally Posted by Icon

This is what I did too.

Almost everywhere took Visa. Just needed cash for small stuff here & there.

Yay Avion points.

Me too. I've used my bank card in various places in France, Spain & Switzerland without a problem. I've actually never had my card rejected at an ATM.

[Esoteric]

Take cash and use ATMs. When I was in Europe this past summer, I brought about 400 Euros, and then used debit cards at a variety of ATMs and never had a single problem. I used a PC debit and Scotiabank debit; Scotia is great for their partners, and PC charges you $3.50 per transaction so it's not too bad.

[Jordan!]

Originally Posted by FlameOn

I've done ATM in Europe too

Good to know...

[Jimmy Stang]

Although I have been able to use my bank card to withdraw at ATMS in a number of countries, and even as a debit card in some, I still like to take some cash with me. Even the lady at CIBC told me to go to Calforex, and I find that their rates are better than the banks usually. They have a location on Stephen Avenue and also at Chinook.

The main currencies like Euros are always well-stocked. A few of the obscure ones I have pre-ordered, but it never takes long for them to arrive. And you can pay debit for your cash there too.

They will also buy back any leftover at the exact same rate that they sold it to you within 30 days or something like that. That way you don't lose on the difference between the sell and buy rates.

[Jimmy Stang]

Originally Posted by Esoteric

Take cash and use ATMs. When I was in Europe this past summer, I brought about 400 Euros, and then used debit cards at a variety of ATMs and never had a single problem. I used a PC debit and Scotiabank debit; Scotia is great for their partners, and PC charges you $3.50 per transaction so it's not too bad.

President's Choice say that they can't guarantee that you'll be able to withdraw money at ATMs abroad, but in actual practice, I have never once had a problem. I have even used it as a debit card at debit terminals in the UK and NZ with no trouble at all.

[Mad Mel]

An option that your bank might offer is to get a foreign currency Visa debit card. I did that here last time I went to Canada - I got a couple grand CAD Visa debit card from an Aussie bank. Accepted everywhere including ATMs, and then you don't have to carry a pile of cash with you.

[getbak]

Originally Posted by wpgflamesfan

Get an account with Scotia. They have partnerships with a bunch of banks in Europe and charge you no fees when you do pull money out. So far I've been in London (Barclays), Paris & Nice (BNP Paribas) and Milan,Verona, & Venice (BNL) and have never had a problem finding one of the partner banks or with any over charges. Mastercard/Visa should also work too but i think they charge a small percentage on each purchase.

Here's some more info:
http://www.scotiabank.com/cda/conten..._LIDen,00.html

This is good and doesn't cost any extra as long as you can find the participating banks (which are usually easy to find in the major countries).

TD also has an account available called Select Service: http://www.tdcanadatrust.com/accounts/select.jsp. It costs $25 a month, but it includes unlimited fee-free ATM withdrawals at any "Plus" system ATM, which is pretty much any major bank in Europe. RBC has a similar account, but theirs costs $30 a month. You can switch your account type just before you leave, and switch it back to something with cheaper fees once you return.

Without an account that gives you free international transactions, you're going to pay $5 per transaction at any ATM.


One thing to keep in mind with credit cards is they charge a premium on top of the regular bank exchange rate of (I think) 2.5%. I went to Europe 4 years ago so this information may be out of date, but I always tried to keep between 50 and 100 Euro cash on hand and paid for large purchases with my credit cards. When I got home, I did a side-by-side comparison on the exchange rate I paid on any given day where I made both cash withdrawals and credit card purchases, and the credit card rate was always a little more than 2% higher.

[joe_mullen]

have been in europe and central america numerous times and have never had a problem with ATMs. ensure that your PIN is only 4 digits as most European ATMs won't take PINs longer than that (IIRC)

[3 Justin 3]

My debit card uses Plus, and nearly all the ATM's there had it. I can't remember a place where they didn't have a working ATM (for Canadian cards).

[getbak]

If you bank with one of the major banks in Canada, and go to an ATM from one of the major banks in Europe, you shouldn't have any problem getting cash out.

[SeeBass]

just go to a frikin bank machine in Europe this is 2011

take out a few hundred pay the samll charge for the peace of mind

this really is something very simple these days

you always do better when you use a atm in the country you need a currency

[wooohooo]

Thanks for the information guys. Really appreciate it!

[Flame Of Liberty]

1. locate the nearest train station/bus terminal
2. look around and look confused
3. sketchy, mostly tanned individuals with a thick accent will approach you
4. tell them you want EUR for x amount of CAD
5. receive a bunch of curled up notes
6. watch sketchy, mostly tanned individuals leave hastily the point of transaction
7. count the monopoly money in your hand