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Wear a money belt under your shirt to protect your passport and valuables, especially if you are
staying in hostels or dorms.
Victorinox Deluxe Concealed Security Belt
An RFID blocking wallet protects your passport and credit cards from identity theft in public places.
Travelon RFID Blocking Passport Case
This portable combo door stopper and alarm will give you additional security in your hotel room.
GE 50246 Smart Home
Door Stop Alarm
Rolling luggage sure beats lugging a pack on your back.
Delsey Luggage Helium Fusion Light 21 Inches Expandable Carryon
Day luggage for your walkabout.
Samsonite Lightweight 17" Tote Bag
A rugged travel combo.
McKleinUSA Buckingham Tech-Lite Ballistic Nylon Executive Travel Combo
A bungee cord is very handy for tying your shoulder bag to your roller bag frame.
Crawford-Lehigh 6102 Bungee Stretch Cords Assortment
Weather protection is essential. This is a great lightweight water repellent windbreaker.
The Stormbreaker
by Turfer Sport
Turfer Women's Featherweight Jacket
Look sharp and be comfortable.
Three Dots Women's Longsleeve Turtleneck Tee
Jones New York Womens Double Breasted Rain Jacket
Tilley Endurables TH9 Women's Hemp Hat
Wear a scarf for comfort and style. Nobody will ever suspect that you are an American.
Very soft houndstooth neck scarf, Kanye West style, different colors available
I wore one similar to this on my early spring trip to London and Dublin.
Lamb Leather Bomber Jacket - Brown
This is my "standard" shirt for most of the year in Europe.
Men's Combed Cotton Euro Design Ski Turtleneck
My favorite T-shirt/undershirt has a pocket for securely carrying passport, cash, and credit cards.
Turfer Tagless ComfortSoft T-Shirt with Pocket
Wool Blend Ivy Cap
Shopping easy at
The
links in this green field take you directly to a page at Amazon.com.
That page details the item, and in some cases includes candid and critical comments
from others who have bought the item.
Amazon.com pays my site a
small commission when you click and order an item, if you put it in your shopping
cart within 24 hours based on the cookie they set on your computer. If you don't
want to make a quick decision just put it in your shopping cart, think it over,
and come back later. You benefit when buying here because Amazon.com
has a 20% to 30% discount on many items plus a free shipping
deal. The third bonus is that there is no sales tax on internet purchases in
most states. Delivery is fast
even when it is free, and returns are easy if you are not happy with the product.
You win we win. Thanks for your support!!
Have a good trip in life,
John Bermont
Note: Italicized notations by the author.
, , , , , , , ,
It rains. Be prepared.
Totes Titanium Auto-Open/Close Umbrella
Walk on cork for all day comfort.
Birkenstock Bali Sandal
Birkenstock Arizona Sandal
Just as comfortable as tennies but look great.
Men's Riva
Comfortech Slip-on
by Florsheim
For leg comfort on the plane.
Arriva Travel-Tec Travel Legwear with Smart Compression Technology
Block the light and noise while flying.
Bucky Shades Sleep Mask
With Earplugs
Certainly a better pillow than the corporate issue on the plane.
Bucky Fuzzy Wuzzy U Pillow With Snap & Go
To relax and sleep on the plane.
Organic Valerian Root 515mg - 100 - Capsule
Make sure that your electrical appliances are 110-220 dual voltage so they will work in Europe.
Note:
These appliances require a plug adapter(s), NOT a converter, for the countries you are visiting.
Vagabond Compact Styler
Conair's Dual-Voltage Ionic Hair Dryer
Conair Flat Iron 2" Ceramic Straightener
Dual Voltage
Conair TS63R MiniPro Ceramic Curling Iron
Dual Voltage
Travel Hair Setter
Dual Voltage
Remington H-1015
SteamFast SF-717 Home-and-Away Mini Steam Iron (dual voltage)
Braun Series 1 150 Men's Shaver with Automatic Worldwide Voltage Adjustment
For light sleepers here is an international "white noise" machine. Includes a Continental
plug adapter.
Marsona TSCi-330 White Noise Travel Sound Conditioner For both USA and International Use
This CPAP machine is specified for 110-240 dual voltage. All you need is a plug adapter to use this in Europe
RemRest Tier 3 CPAP Machine by Evo Medical
For coffee or tea in your room, without waiting or paying for room service.
Lewis N. Clark Immersion Heater 120/240V
You will need one or more of these plug adapters for your appliances and chargers.
For details on electricity in Europe see chapter 11,
Electricity in Europe: Travel Voltage Fundamentals
Plug Adapter (doubler)
Universal to Continental Europe "Europlug."
4.0 mm prongs
SIMRAN PLUG ADAPTER
Adapts grounded USA plugs to European "Shucko" plug.
4.8 mm prongs
This is a universal plug adapter for the UK and Ireland.
Grounded Adaptor Plug for Britain and Ireland
The holes of many Italian outlets are too small for the Schucko plug. One of these will probably fit.
If you have the Europlug (above) you do not need this plug.
Italy Adapter Plug B
Ungrounded
4.0 mm prongs
Plug Adapter for Italy
Universal to Grounded 3 pin
To use this with American plugs you'll also need the USA to Continental Europe adapter.
Grounded Adapter
Europe to Switzerland
For charging the batteries of more than one gizmo at a time use this 250 volt universal
power strip. It comes with a grounded Continental plug.
Surge Protector
Power Strip
6 Universal Outlets
220/240 Volt 50/60Hz
To use the surge strip in Britain and Ireland you will need one of these plug adapters.
Grounded Adapter
Europe to
Britain and Ireland
To use the surge strip in Italy you will probably need this plug adapter.
Grounded Adapter
Europe to Italy
Here is a smaller power surge strip with three universal outlets. It is wired with an American grounded plug so it needs a plug adapter for the countries you are visiting.
SM-60 Universal 3 Outlet Power Strip / Surge Protector for Worldwide Travel. 110V-250V with Overload Protection.
This transformer rated for 200 watts will power many of your appliances if they are only rated for 120 volts.
Transformer - 200 Watt Non Grounded Heavy Duty
Absolutely the best battery for digital cameras which use AA batteries.
Energizer
AA Lithium Batteries
4 Pack
Rechargeable batteries are expensive but pay for themselves over and over.
This charger is good for worldwide voltage and comes with 4 pre-charged batteries.
It requires a plug adapter for the countries you are visiting.
Sanyo Eneloop 4 Pack AA NiMH Pre-Charged Rechargable Batteries
w/ Worldwide Charger
This kit includes a pair of rechargeable batteries with a USB powered charger.
SANYO NEW 1500 eneloop 2-AA Ni-MH Pre-Charged Rechargeable Batteries
w/ USB Charger
Wash in your room basin and save time, trouble, and money.
Woolite Laundry Soap
20 packs, ¼ ounce each
Inflatable clothes hangars help with drip dry clothes washed in your room.
Inflatable Travel & Laundry Hangers Set Of 4 by Whitney Design
Samsonite Space Saver Bags for Travel
The two gallon size is excellent for packing your clothes, but it is hard to find in Europe.
Two gallon plastic bags
ZipLoc by SC Johnson
Much stronger than duct tape.
Strapping Tape
1" x 60 yards
3M Company #8957-1
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auto, SUV, and RV
rentals and leases.
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Premier Tax Free
Premier Tax Free provides international shoppers with an easy and fast
solution to recover sales tax (Value Added Tax) throughout the world.
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Chapter 8
of
HOW TO EUROPE
The Complete Travelers Handbook
Internet edition. Without photos.
A page from
enjoy-europe.com
with
John Bermont
Since the days of Marco Polo the double-edged problem facing travelers is:
- Carry money that can't be lost or stolen.
- Carry money that is accepted everywhere.
AVOIDING JESSE JAMES
There are many things to know about money, about exchanging your US dollars for
European currencies, and about the money instruments available to travelers. The most important
thing to know is how to protect your money, passport, and belongings against thieves.
The original Jesse James was a murdering train robber in the years after the Civil War. He operated
from Missouri. His most famous crime was the attempted robbery of a bank in Northfield, Minnesota. His gang
was pretty much shot up and sent to Hell by alert townspeople, but Jesse and his brother got away.
They are long dead now but similar miscreants are always on the loose.
Pickpockets
Pickpockets won't shoot you, but they will get your goodies. They thrive in the train
stations, airports, post offices, museums, amusement parks,
city tourist offices, and public crowds. Thieves also make a good living in the subways and on the
streets. Nearly every traveler I have met in Europe has a story to tell about an attempted theft on
themselves or on someone they know. I've had six brushes with these devils and they are batting
16% on me. The loss was relatively minor, and should not have happened. In too many
cases it is a sad story because the thief was very successful. It is a frustrating calamity when
you are robbed because the police can do virtually nothing except to hear your story and then file it. You
are left with the burden of canceling credit cards, getting more cash, and replacing documents.
You Probably Haven't Seen This on TV
What follows might sound funny, even dumbfounding. Some human-looking creatures will
try almost anything to steal your stuff. They are brazen and audacious and cunning. They prefer to
pick on the weak and helpless, but, as I learned by firsthand experience, they'll go after a 6'1"
190-pounder also, at least in the off-season.
Ketchup: A Chinese businessman on a train from Paris to Cologne (Köln) told me an interesting story.
He was in a Paris Metro station and some people started shouting at him and pointing at the back
of his coat. He took it off to have a look and found ketchup on it. Just then someone came over to
help him clean it off. The businessman appreciated that, but felt something inside his breast pocket
as the friendly helper was wiping off the ketchup. He grabbed the thief by the wrist as he was
extracting the businessman's wallet. I found that story hard to believe, but the businessman went
back to his compartment and returned with an expensive fur coat. It had a two-inch wide river of
ketchup right down the middle of the back.
Hand cream: Three weeks later I
was in Madrid. Walking back to my
hotel from the post office on a major
boulevard at sunny noontime, an
older couple started shouting at me
and pointing at the sky and at the
back of my jacket. After a moment, I
put my hand around in the back and
felt something slippery. My hand came back smeared with hand cream. Immediately a younger
fellow appeared out of nowhere and approached me with some napkins to help wipe it off. Such a
friendly good Samaritan! Wrong. Remembering the story of the Chinese businessman, and
recognizing my helper as a fellow I had seen gambling on the sidewalk with US $20 bills the day
before, I became alarmed. I pulled my jacket together and backed up, shouting "No! No!" The
helper with the napkins became slightly disoriented. He walked out into the Calle de Alcala,
a major boulevard in Madrid, and was nearly run over before he got his wits
together and went back the way he came. The man and woman who shouted at me, and who were
obviously part of the heist play, kept walking up the boulevard as if nothing had happened. During
the ten minute walk back to my hotel, not another soul mentioned anything about the white streak
on the back of my coat.
Mustard: I heard a similar story in Portugal, except that it was mustard over there.
Cardboard: Another modus operandi involves the use of a piece of cardboard and some teenage
girls in worn dresses. The girls approach you holding the cardboard outstretched as if they were pathetic
beggars. They put the cardboard up close to your chin with one hand, thus concealing the other
hand which is busy grabbing your wallet down below. A friend told me that a group of girls had
tried this on him in Rome. Two days later a solo pre-teen girl tried it on me near the Rome train
station.
On the Train: When Elizabeth and I found a compartment on the Venice (Venezia)
to Vienna (Wien) overnight train, we quickly chucked our stuff in the overhead
rack and settled in. Though she put her purse up there, I was sure it was
temporary. To make a toilet trip during the night I reached under the seat
for my shoes and found her purse there. Good enough, I thought. But the
next morning she said she hadn't put it there. Then we discovered that
some money and credit cards were missing. Telephone calls from Vienna
to cancel the cards were time consuming and expensive, using most of the
time we had available before catching our train to Budapest. For some
reason the thief was selective in rifling her purse and took only two credit
cards and the cash, leaving behind the American Express card -- a
discerning thief. The thief must have been someone in the compartment
since I was sleeping next to the door and am easily awakened when train
doors are opened.
Tragic Success: I've talked with many people who were hit hard, even
before landing in Europe. A girl I met while traveling had flown from San
Francisco to Los Angeles to catch a flight to Europe. While she was waiting for the boarding call
at Los Angeles International Airport someone stole her purse with her passport and money -- only a half hour
before departure. A friend of mine had his watch stripped off his wrist in the Louvre Museum in
Paris. An Australian girl I met had her purse stolen while she sat in a Barcelona café with five
other people. The passport of an American girl disappeared in Basel on the day her tour group
was to depart for Paris and fly home. I met two others from the group who stayed behind to help
her out. They wasted at least a day and additional expense going to Zurich to get a replacement
passport. A Dutch guy I met on a train was on his way home after one day of a one month
vacation. Somebody stole his wallet.
I could fill a book with details of these and other stories. So, "Let's be careful out there."
Purse Snatching
This is a profitable sport for the lowlifes just about everywhere. Girls, if you
don't have your hand on your purse someone else will. Many women put their purse on
an adjacent chair when they are in a restaurant. Sometimes they hang it on the back
of the chair, an even easier place for those in the snatching business. Keep it
slung around your neck, in your lap, or jammed in behind you. When shopping never
lay your purse on the counter. The lowlifes have a right to shop also and they
will nudge themselves close to your handbag if it is not secure. If you get crowded
just step away until the offender moves. Keep your purse hung around your neck.
Do not keep your passport
in your purse. Keep it in a money belt under your blouse. Keep most of your credit cards and
money there also.
Baggage Thieves
Many travelers "hide" their passport and money in their suitcase. Baggage thieves know
this — that's why they are thriving in the tax free baggage-stealing business. Baggage thieves also
know that there are clothes, toiletries, a camera, razor, and other goodies inside which would
make a nice present to their girl friend or earn a little money at the flea market. The one thing that
baggage thieves do not think of or care about is the disaster they wreak on the dream vacations of
those whose suitcases disappear. That's not their department.
Baggage thieves operate primarily in airports, train stations, on trains, in metro stations,
and on the metros (subways). They prosper in
and around the confusion of tourist information offices and hotel booking offices. They also
examine parked cars and open the trunks of those with out-of-town license plates.
Friends of mine have had their cars broken into in Paris and a thief rifled the suitcase of
another friend on a French train. Gone were his money and traveler's checks. An American
bicyclist I met had his luggage stolen from under his legs while he was sleeping in a French train
station. I have met other travelers, bitter and frustrated, who had their belongings stolen on trains,
in train stations, and from their cars.
SELF DEFENSE
On Guard
Armed robbery and mugging seem to be less prevalent in Europe than in the United
States. But you have to be careful not to display yourself as a tempting target for quick fingers on
fast feet. Be alert at all times in public places. Look around in train stations and post offices.
Study the faces and the actions of loiterers and strollers. Most people are going somewhere or
doing something. But you'll see some who seem to be planted there, just watching and waiting.
Gypsies
Some people will consider this paragraph as "profiling" but it is just the way things are. I
only report it for your self defense. The message is to be alert for gypsies. They usually work in
groups and act like a pack of hyenas on the street. I'll never forget the fright I once had in Milan.
When traveling with Elizabeth and our two-year old Stephanie we had to cross a major boulevard
near the train station. With a toddler you carry an unbelievable amount of stuff and we had to
cross in shifts. As I was beginning to come over with the second load I saw a half dozen gypsy
women slowly approaching Elizabeth as she was yelling at me in alarm. Boy did I move, and the
gypsies cleared out.
Though they hang out more frequently in southern and eastern Europe, gypsies can be
anywhere. Major cities such as Paris and Rome have large numbers. When you see the women,
dressed in characteristic flower print dresses and billowing skirts, go on red alert because they are likely to
have a close encounter with your wallet, wristwatch, passport, or whatever else you have of
value. Be especially wary of the children. They are trained in the art of theft from an early age.
Video Recorder
I have discovered a great defense against gypsies, no matter how many are circling. Start
filming them with your video recorder. It is simply amazing how fast they scatter. They sometimes
make abusive threats as they flee. An old woman in Warsaw started hitting me but she couldn't
kill a fly with those flimsy arms.
When we stayed in Milan for a week visiting Elizabeth's sister, I used to stroll over to the
train station with my video recorder nonchalantly hanging in my right hand, set on pause and ready to
roll. When the gypsies approached, I would raise it and start filming. You'd think I had an Uzi
machine gun by the way they scattered. One fellow, about 25, was so mad or disgusted
that he stopped, turned toward me, pulled his sweat pants down, grabbed his joint,
flipped it around in the air,
and shouted "Here, take a picture of this!" Even his girl friend partner was shocked.
I have a half hour video of another gypsy girl trying the beggar scam in Warsaw solo while
her tribe stood across the street. It's a very well rehearsed procedure. She would not approach
couples, only single walkers. But if there was someone walking within 20 feet or so she would back off.
If you are traveling alone you are particularly vulnerable. If you are approached
for a handout anywhere in Europe never give a penny. It is their profession to look as pathetic,
helpless, and hopeless as possible. The Sherlock Holmes story "The Man with the Twisted Lip"
is a good description of the practice. In the 1960s a Wall Street Journal reporter practiced the
method in New York City and was making an annualized $14,000 a year, tax free of course.
That was twice as much as I was making as a young engineer in Chicago at the time.
Keep It Close
No matter how you carry it, keep money out of sight and close to your body. Since the
Madrid incident, I always keep my wallet in a tight front pants pocket in crowded areas. When
I come over from Haarlem and the train enters the Amsterdam train station I instinctively move my wallet
from my rear pocket to the front. The Amsterdam train station is a rat hole of beggars and thieves.
I keep my passport, big bills, and a couple of credit cards in the pocket of my T-shirt. I wear
a business shirt or turtleneck over this. It is just as secure as a money belt.
Money Belt
Many travelers use a money belt. A money belt is a pocket on a belt which should be worn
under your shirt or blouse. Many wear it on the outside so they can get to it in a hurry, a habit
which razor toting thieves really do appreciate. Keep your passport and a minimum
two day supply of local
cash on your person at all times. If your hotel has a safe, you can use it to keep your
other foreign money, airline ticket, rail pass, etc. Do not forget to retrieve them from the hotel safe
when you check out.
Circle Your Wagons
Defense against baggage thieves is rather simple -- just hang on to your stuff. Do not
EVER accept a gratis offer from a stranger to watch your bags while you buy a ticket or powder
your nose. On the train, sit in a compartment already occupied by one or two people who have so
much luggage that they couldn't carry yours if they did steal it. Get a conversation going and each
can be the watchdog while others go to the toilet or dining car. But again, do not leave any
valuables in your bag. I normally loop my luggage shoulder strap through one of the iron bars on
the luggage rack. That would at least slow down anyone trying to steal it. Use a cable tie to seal
your bag whenever it is out of your sight. I think this saved me on a flight from Los Angeles to
Geneva, connecting through New York and Barcelona.
Secure Parking
Always park your rental car on a busy, well-lighted street. Never leave anything visible in
the car, and never leave anything in the trunk overnight. Lock your car if it will be unattended for
more than ten seconds. I have seen camper vans parked in the big cities with long chains around
the girth to prevent anyone from opening the doors.
Street Wise
On the street, hang onto your stuff. In Dublin, a new-found traveling friend and I were saying
good-byes and exchanging addresses at an intersection. Though we had put our bags down for just
a moment, a policeman came over to warn us to hang onto them or they would be stolen. In both
Barcelona and Naples, hotel clerks warned me that thieves would pull my camera off the neck
strap. Nobody did because I always have one hand on my camera when I'm out around town.
Team Sport
Pickpockets and baggage thieves often work in small groups. One or two are there to
distract you in some way, another one makes the grab, (s)he quickly passes your
goods off to another, and
the runner makes his getaway in the confusion. You don't know what to do. There is not a heck
of a lot that you can do, during or after the fact.
One stunt commonly reported from Barcelona is the metro doorway block. During the mad rush to board
the often over crowded metro cars a gang will push you from behind. They have your wallet in a split
second but do not get on the car. As the train pulls out of the station you feel for your wallet. Gone!
Another stunt reported from Amsterdam involves the train from Schiphol Airport to Amsterdam's Centraal
Station. The gang targets business people carrying a laptop computer case. One or more board the train
behind the mark and others stage a ruse on the platform as a distraction. The computer is gone and out
the door just before the train departs. For partial defense aganst computer theft I separate my files
from my computer. I carry a small netbook when I travel but it has none of my
personal files on it. These are on a flash drive in my pocket. The computer only has the operating
programs. Emails are kept at my email host behind a strong password.
Prevention works best. Try to not look like a tourist, especially not like a wealthy
American tourist. If you want to keep your nice jewelry and fancy purse, leave them home.
Only bring
valuables that you don't mind having stolen. With the costume that I wear (see chapter 5,
What to Wear in Europe:
Travel Clothes for all Occasions) many people mistake me for a European over
there, at least until I pull out my city map and camera.
Also, never give money to a beggar, no matter how destitute they appear. That is part of
their ruse. One time at the San Sebastian, Spain train station a young woman approached me with her
hand out, and with a baby slung over the other arm as if it was an old coat. I brushed her off,
but I had to do it several times. Later as I sat on the train I looked out on the platform. There
she was with the baby in a new stroller sheerily waving good-bye to some friends on the train.
If you donate they determine where you keep your cash. They'll be back to help themselves
when you least expect it. They even follow you into stores and restaurants to make the snatch.
MONEY
Now that you know how to protect yourself, here is a rundown on the money used in
Europe.
Each country formerly had its own currency. This has changed as of 2002 and now the
euro is the currency of 17 countries in Europe, and is accepted by many businesses
outside the Euro Zone.
Greenbacks
United States dollars are legal tender in the United States for goods and services and
taxes. You normally cannot use dollars in Europe. In most countries of Europe, the only thing you
can legally buy with United States dollars is the currency of the country in which you are present.
These currencies are sold by banks and other businesses in accordance with national laws. Each
bank or place of exchange posts buying and selling rates for major currencies, although the eight
digit decimal rates in the computers are actually used in calculating the transaction.
WHERE TO CHANGE MONEY
One of the first things you need to do in Europe, or before you go, is obtain some local
currency. There are several ways to do this.
Your Home Town
Ask your bank about buying some euros or kroner and don't be surprised if you get a
blank stare. If they can help you, they will probably need to order the money for you. It will take
a week for delivery. The bank will charge a ridiculous fee for the service.
You can buy it at the exchange office in your USA departure airport. This will also be
expensive. I check the exchange rates offered when I fly out of Los Angeles, Minneapolis, or Detroit.
Invariably the rate is approximately 20% higher than the published rate. That spells ripoff to me.
If you are a fool with money and don't want to stand in line at an airport, try to change at
a large hotel near your departure airport. World class hotels usually change major currencies for
their guests. This can cost you 20% to 30% more than at the airport.
In Europe
The traditional place to change money
is at just about any bank in Europe. The
exchange rates are reasonable and are usually
posted in a window or at the door. Banks in the city offer a better exchange rate than those at
the airport.
There are also numerous money
exchange offices in major cities. These places
can be tricky as pointed out later in this
chapter. They are sometimes associated with another business that travelers typically need or want,
e.g. cameras, jewelry, etc.
Never change money with
anyone on the street. You will be approached
fairly often in some cities.
The best cash option is to use your ATM card when you
arrive in Europe. This is one of the handiest and
best deals you will find. Cash machines are
ubiquitous in Europe. With virtually any
American ATM card you can
obtain local currency at cash machines in
European airports, and throughout the
countryside. Debit cards usually work also, but using a credit card for a cash advance usually
does not work.
Banks
It used to be that virtually all banks in Europe exchanged
foreign money, and they usually offered the best exchange rates. They
all knew what each other was doing so it was hard to find any real
bargains.
Most banks in the Euro Zone of Europe are no longer in the currency
exchange business. See
Money Exchange for details on the Euro Zone. The reasons are that
the euro is the common currency of a third of Europe and ATM machines are becoming more
common than dog poop on the sidewalks. There is very little business in the
currency exchange business and ATM machines can do it 24/7. However, there
are still a few countries which are not in the Euro Zone, notably Britain,
Switzerland, Sweden, and Denmark. You will find banks and forex offices in
these countries which will exchange currencies if you want, but the best source
of local cash is always an ATM machine attached to a bank. See the section on
ATM machines below.
Since banks pay rent, salaries, and interest on their inventory,
and expect to make a profit, a spread exists between buying and selling
rates. They buy low and sell high. Thus, when arriving in Copenhagen
and buying kroner you might receive seven kroner per dollar, but the
next person in line returning home will have to pay eight kroner for
each dollar when he cashes in his excess. It's like buying a new car --
instant depreciation. So, don't buy more money than you think you will be using in any one
country.
In addition to the buy/sell spread, there is usually a transaction fee, normally called a
"commission." This is sometimes a flat amount (so it is better to make large transactions to reduce
the relative amount) or it can be a percentage of the transaction.
Procedures
When exchanging money in some banks, you give your cash or
traveler's checks to a clerk at one window who calculates the transaction.
He gives you a plastic or metal token with a number on it, and passes the
paperwork to another window, the cashier. Shortly, the cashier will call
out your number, in the native language of course, and pay you the
money. If you can't understand the local language, you won't know when
it's your turn. It's a good idea to keep your eyes on your paperwork
behind the counter so you know when it's your cash being dished out. In a
bank in Holland they once tried to give me somebody else's money.
When
It's best to do your banking in the morning. Lines are longer at noon (if the banks are open
during lunch) and in the afternoons. Siestas can last until 16h00.
Airports
International air terminals in Europe usually have an exchange window and/or bank. There is also at
least one ATM machine. On arrival it would be a good idea to get about $100 in foreign
currency right there at the airport. This should more than cover your expenses
in getting to town and checking in at your hotel.
The exchange rate is not as good at airports in the USA as it is in Europe because the
European currencies have little demand in our country. For example, in passing through the
Detroit airport in June 2011 I noted the euro exchange rates posted by the money changer.
Buy: $1.24201
Sell: $1.61318
The real exchange rate that day was $1.43207 per euro. If you bought your euros that day
at $1.61318 you were paying 12.6% too much. If you were coming back from Europe with extra euros
and sold them here you would be shortchanged by 12.6% also. You are screwed coming and going.
Arriving at Schiphol Airport in Holland a few years ago I went to the ABN-AMRO bank window
in the entry hall and swapped $100 for euros. Later that day I exchanged more at the ABN-AMRO
branch in Haarlem. Not only did I get a slightly better exchange rate in Haarlem but the
commission was also less. The difference was about a 1% benefit in using the Haarlem branch for
exchanging money.
Train Stations
Most major train stations have an exchange
office with extended hours. Usually it costs you more to
buy foreign currency at these offices. You pay for the
convenience. I have seen buy/sell spreads at some train
station exchange offices of 8% to 9%. The spread
should be about 2% with a strong dollar. Look for a
cash machine in the train station.
Ships
Ships and ferries crossing international borders have exchange windows which operate
more or less like banks. Usually exchange windows on ships are only open during part of the
journey. Open hours will normally be posted at the exchange window and/or announced over the
public address system. If you cannot find an exchange office ask the purser if he will make an
exchange for you. Ports do not have convenient exchange windows.
American Express
Many Americans formerly used American Express offices to exchange money or cash travelers checks.
The Paris office near the Opera was a very busy place back in "the good old days." You could easily spend
an hour waiting in line. Holders of Amex cards received expedited treatment.
The curb out front was also a busy market for used VW camper vans. That also was in "the
good old days."
Money Changers
Exchange rates for small amounts are not as good as for larger amounts. The best exchange rates are
the ones in foot high lettering. The little asterisk next to that refers to the bottom of the
sign where the rate is 10% less for amounts less than $1,000.
In Paris a number of years back I had some left over Marks and needed
to change them for French francs. I was seduced by what appeared to be an excellent rate for
Deutschemarks with no commission charge. Instead I was shorted by about 10% because the
small print said that the exchange rate was only for amounts over $1,000. I didn't read the small
print. Heck, I didn't even see that tiny print at the bottom of his poster after reading the good
exchange rate in big letters at the top. I asked for my money back and the teller refused.
Whereupon I took his picture, told him he was a thief and that I would put his picture in my next
edition. Whereupon he bounced out of his booth and tried to take
the camera out of my hand. The scuffle didn't last long and I kept my
camera. His face isn't worth the ink.
Last Resort
When I was living in Geneva, Switzerland I would often
make day trips over to France on weekends. Usually I had enough
French francs with me but one Sunday I was short. I was stymied
everywhere in town trying to change Swiss Franks for French
francs. Banks were closed and hotels would only make change for
their guests. Finally, I went into the casino at Aix-les-Bains and
bought casino tokens with my CHF. At another cash window I traded
all the tokens for FF and
received as good an exchange rate as at a bank, had one been open.
ATM MACHINES
Your Bank Card
One of the really amazing developments in our society over
the past 20 years has been the introduction
of automatic teller machines. We call them ATMs in the USA. Overseas they are known as money
automats, cash machines, or something similar, in the local language.
You can use most American ATM cards throughout
Europe. These cards are usually identified on the reverse with names like Cirrus, Star, Plus, and
others. These names are also used in Europe and where you see them you can usually use your
matching ATM card. Your bank will probably charge a fee of up to $5 for each transaction. I closed my rip-off
bank account and opened an account at a credit union which has no fee for foreign cash withdrawals,
and uses the best exchange rate. I have never been charged by a bank in Europe for using my American ATM card.
It is common practice in the USA to be dinged twice if you use your ATM card anyplace other than
at the bank which issued it to you.
The money you receive in Europe is local currency, and is
deducted from your home bank account after the banks make the conversion calculation and tack
on their fees, if any. Typically there are several buttons allowing you to select 50, 100, 200,
or 300 of the local wampum.
Bank systems have regularly scheduled maintenance periods when you may not be able to
access cash. Ask your home bank about this before going to Europe. The off period is probably the wee
hours of the day at home, which can be mid day in Europe.
In Germany we lived near a US Army base which had an ATM machine dishing out US
dollars, US dollars being the coin of the base. The machine was outside the
fence so anybody could draw dollars without paying exchange commissions to a German bank.
I used the machine several times before they put up
a notice warning that it was to be used only by military personnel. Dollars
came in handy for my trips to the eastern countries. The former communist countries love
American dollars.
Credit Cards
Theoretically you can also use your credit card with personal
identification number (PIN) to take cash advances
according to the terms and credit limits of your account. However European banks don't seem to
want to do this anymore. I have seen notices at some ATMs advising that credit cards
cannot be used for cash withdrawals. I accidently put one of my credit cards in an ATM
in Edinburgh. It didn't come back. I called the bank which owned the ATM machine and was told that the card
would be destroyed. So I had to cancel that account and get another credit card. This kind of thing can
be a major headache if you have recurring debits, say a phone bill, being charged to your card.
It would be best to leave that card at home and use another card as a "traveling credit card."
Look over the section on credit cards later in this chapter for more stuff you need to know.
PIN
Make sure that you remember your PIN as a
number and not as a word. The reason is that most
European ATMs do not have alpha characters and the
number pads do not have the same pattern as ours at
home. For example, if your password/PIN is "cash"
remember it as 2274 or you may have trouble accessing your account.
Four digit PINs are the norm in Europe. If you use a 5 or 6 digit PIN change it before
your trip or you may not be able to use your card in some cash machines.
Fraud
Where there is cash there are criminals. Try to use ATMs which are attached to banks, not
those in stores. ATMs are not regulated as banks are and anybody can buy an ATM and install it
anywhere. Some of these have been modified by the ATM
owner (not necessarily the store owner) to harvest account and PIN numbers. Thereafter the
crooks cleaned out the bank accounts of many people.
CASH
The Mighty Dollar
In the eastern countries, there are unusual things going on with money. In most of them
you can use dollars to pay for many things. For instance, in Budapest some hotels post their rates
in forints and dollars. In Kiev my hotel would only accept dollars. In Istanbul, rates were posted
only in dollars. The reason is that inflation is atrocious in some countries and the local currencies
are depreciating at unbelievable rates. As an extreme example, in October 1994 the Russian ruble
plunged by about 25% in one day, triggering a national crisis. It happened again about four years
later, triggering an international crisis.
Many people would rather have dollars than their homeland currency. The situation has spawned
street trader businesses
in dollars throughout the eastern and southern European countries. A colleague used a street
trader in Budapest and got an excellent exchange rate, which she discovered later was for cut up
newspapers sandwiched between two legitimate forint banknotes. If it's too good to be true it's
probably a scam.
US $100 bills are the
monnaie du monde (money of the world) by my observations on four continents. Use the new
ones with the big picture of Benjamin Franklin. I call them Bennies and carry ten of them for
emergencies whenever I travel.
The Euro, €
The new kid in the bank is the euro. It uses a symbol that looks like a C bisected by an
equals sign, like so, €. The euro is probably unique in centuries as the single currency of a multitude of free
countries.
The European Union, EU, consists of 15 independent countries. The EU has had a
parliament in Strasbourg and administrative offices in Brussels for many years. As a next step
toward complete unification of Europe, a common currency has been issued. Most of the EU
countries have decided to use the euro and abandon their historical currencies.
The Euro Zone officially consists of 17 countries with another half dozen unofficially
accepting . The lists are at my page
Money Exchange. There you will also find images of the euro and some other currencies, and
a graph showing how the value of the euro versus the dollar has varied over the past five years.
For the euro countries there is no longer a need to change money every time we cross a border.
We can use the same money in Greece and Ireland, Portugal and Finland, and even Estonia and Slovakia.
Three members of the
European Union are not in the Euro Zone and will therefore continue using their own currencies.
Britain and Denmark chose not to join the Euro Zone and Sweden did not meet the requirements. Greece barely
eked in and that may have been a big mistake. As of spring 2010 the Greek politicians have bankrupted the
country and are begging their euro brothers for loans and forgiveness. The contagion has spread to Spain,
Portugal, and Ireland as of 2011. It's always easier
to ask for forgiveness than to ask for permission.
Countries which are not in the European Union, EU, do not use the euro. Notable among these
is Switzerland, along with all of the former communist countries of eastern Europe.
Many of them are trying to join the EU. In the
meantime the euro and the dollar are the de facto currencies in many of the eastern countries,
much like the Deutschemark and the dollar were in prior years.
One of the nice things about the euro is that it is worth about a dollar. It started out being
worth $1.18 on 1 January 1999 (three years before it became official), but unraveled quite a bit
down to 80¢ at one time, and then bounced up to about $1.60 in the spring of 2008. It's about
$1.40 as of fall 2011 after going through a few more zigs and zags. You won't find the value of your
dollars bouncing around between 2 German Deutschemarks,
7 French francs, and 2,000 Italian lira as you cross borders anymore. But you will still have to put up
with widely different exchange rates in Switzerland, Poland, Denmark, Britain, and many other countries.
Caveats
I've seen some hot shots do this. Do not flash a fist full of greenbacks and ask,
jokingly, "How much is that in real money?"
They'll tell you all right. In exchange for the insult, you
will probably be tapped for another 25% to 50%.
Coins
Coins are not exchangeable outside the country of origin. This presents a problem
because coins are what you often need immediately on entering any country. Virtually all toilets in Europe
require payment. Sometimes you have an urgent situation after a long trip. Luggage lockers
normally require coins.
Change is not as easy to get in Europe as it is at home. Merchants do
not like to give it out. They refuse, in fact. Even if you try to buy something costing €0.50
and give the clerk a €5 note you will be asked if you have the corrct change. The easiest
way to get change is to go to the foreign exchange window in your arrival airport or train
station and get about three times as much as you think you will need.
An interesting thing happened as I was standing in the boarding line for a flight from Amsterdam to
London in 2009. A fellow came up and started working the line trying to exchange some British coins
for euros. Others refused but he offered a good rate so I made the deal.
Coin telephones, if available, are often out of order and/or steal your money. Somebody put in a slug
or tried to bust the box open to steal the money. Instead of
using a coin phone, buy a telephone card. In fact, the currency exchange office in the Antwerp
train station (that's a picture of it on the front cover of How To Europe) would not give me
change but gladly sold me a telephone card. That is far handier than putting a bunch of coins in
the slot for a call. The card phones are usually in operating order. However most phone cards
have an expiration date so if you don't use it up donate it to someone before you leave the
country. For much more information on using the phones in Europe see part 1 of chapter 19,
Telephoning to, from, and within Europe
.
TRAVELER'S CHECKS
Dinosaur Bones
With the large number of ATM cash machines throughout Europe, travelers checks are
basically history. Don't bother bringing any, unless you need them for peace of mind. I carry
ten $100 bills for emergency needs.
I used to arrive in Europe with a booklet full of travelers checks. I would stand in one hour
lines and then spend ten minutes signing enough to get me through
the next few days. This is not an ideal way to spend precious time in Paris.
Traveler's checks do solve the problem of carrying money securely, and money that is
usually accepted in western Europe. They will be replaced by the issuer if lost or stolen. When you
buy traveler's cheques you are given a receipt with the serial numbers of each check. Keep this separate
from your checks because you need the receipt in order to file a claim for missing checks. Keep a
record of checks that you spend so you will know how many disappeared.
Be aware that TCs they are worthless without
your I.D., i.e. your passport. If you use a traveler's cheque to pay for dinner don't be
surprised if your change comes back with no passport. This used to happen to me frequently.
Demand the return of your passport immediately, and give the waiter a nasty look.
It is better to show your passport to the waiter at the table and let
him copy whatever he wants, but do not let it out of your control. Remember that "your" passport
is the property of the US government, even though you paid for it. And when your passport returns
open the first page to make sure that you are looking at yourself and not the last person that
they stole a passport from.
If you are planning extensive travel within one country and can stick to your budget, you can buy
traveler's checks denominated in the currency of that country. They will be more readily accepted
in restaurants than US dollar TCs, though acceptance is never guaranteed.
Buying Fee
Travelers checks are normally sold with a fee of 1%. Some traveler's checks are issued with
no service charge. Contact your bank, credit union, automobile club, or employer to see if
traveler's checks are available with no service charge, sometimes called a commission.
When you receive your traveler's checks sign them immediately in the space indicated. This is the
bearer's signature. If you loose them before you sign them anyone can sign them and they are as
good as cash.
Cashing Fee
When you cash a traveler's check you sign it on the other blank line, the endorser's signature.
Whoever accepts the traveler's check must verify that the signatures match, and should also demand
a photo identification.
The user of US dollar traveler's checks will often be short-changed. Most places of exchange
charge a fee for cashing traveler's checks. After all, if you gave them greenbacks they could
immediately turn around and give them to the next customer. With traveler's checks, they have to
wait to be paid in local currency by the issuer. Normally you can avoid the fee by cashing
traveler's checks at an office of the issuer of the traveler's checks. But that's where the long lines
are. Or, if the fee is per transaction and not per traveler's check, cash a bunch to get the fee down
to half a percent or so.
Expect to be really short-changed when cashing US dollar traveler's checks at hotels.
Their exchange rates may be steeply discounted costing you up to another 25% for your room. At
restaurants it can be worse. US dollar traveler's checks are worth less than paper napkins in some
establishments. Though they are normally accepted, I have seen waiters scream at the mention of
the words "traveler's check."
Name Brands
Use only internationally recognized traveler's checks. Do follow the directions and stash
the receipt with serial numbers in a place where you won't lose it if your checks are lost or stolen.
Refunds for lost or stolen traveler's checks are available throughout Europe at branch
offices of the issuer. American Express, Thomas Cook (Wagon-Lits Cook in some countries), and
the other major companies can replace checks within 24 hours. Get explicit refund information
before buying any traveler's check. That's why you are buying them in the first place. Read that
small print in your check envelope and follow directions.
PERSONAL CHECKS
Personal checks drawn on a United States bank account can be used in Europe under
certain circumstances. One program is offered by American Express to its card holders.
I made extensive use of it during my travels in the past, before the dawn of ATM machines.
If you have an American Express card, their offices or associates in Europe will cash
your personal checks. The dollar amount depends on the type of account you have. My
Rewards Plus Gold Card allows me to cash a check of up to $2,500.
This is a pretty good service and would come in handy if you need more money than your
ATM card is authorized to disperse on a given day. This solves the problem of paying if you
rent an apartment and the owner does not accept credit cards, which is the case with most
apartment owners. Most apartment owners do not qualify for a Visa or MasterCard account
and if they did they wouldn't want to pay the 5% merchant fee anyway. Even worse, they don't
want these funds going through their bank account under the vigilant eyes of the local tax
collector. That could cost them 50%. Ouch. The $2,500 limit is per card so if you need
more than that and are traveling with your spouse get an additional card in his/her name.
Under local law you must accept local currency at Amex (which can be converted to
other currencies at an additional premium), and generally you must take some of the
funds in traveler's checks for which there is an additional charge. American Express card holders
get preferential treatment at Amex offices, and rightly so. The annual membership fee is rather
high.
CREDIT CARDS
Acceptability
It's getting so that you can almost live on plastic in Europe. Credit cards are
accepted in the bigger and/or better establishments to an only slightly lesser degree than at home.
They can also be used in some telephones, some gasoline stations, when buying international train tickets, in some
taxis, and in virtually all hotels rated above one star. But there can be surprises, as in a
Michelin two star Paris restaurant where I was a guest and absolutely no cards were accepted.
Commonly accepted cards are Carte Blanche, Visa, Diner's Club, American Express,
MasterCard, and several European cards. MasterCard and Visa are each affiliated with major
credit card systems in different countries, e.g. Maestro and Carte Bleue.
As a general rule, prices are higher in restaurants, hotels, and shops honoring these cards.
The low budget traveler can use this generalization and avoid establishments whose front
doors are covered by certain "welcome" emblems. Those stores are paying the fees and taxes.
Shop For a Card
It really pays to shop around before signing up for a credit card. Visa and MasterCard are
issued by different banks at different costs to you. Small banks and credit unions usually have the lowest
costs. Big banks which have done their best to bankrupt themselves making loans to corrupt and
inept foreign governments are more likely to scalp Americans with high annual fees, interest, and
late payment charges. One thing for travelers to keep in mind is that some airlines issue Visa or
MasterCard cards in their name. Not only do you get mileage credit for charges on the card, but
the card issuer may also give extra discounts or extra mileage when using their card to purchase
airline tickets. These cards usually require an annual fee and carry higher interest rates than most
cards.
Cash Advance
If you want to live off credit a convenient source of funds throughout Europe is a cash advance
from your Visa or MasterCard. Interest charges begin immediately, not at the end of the billing
period. Some ATM machines will not give cash out on credit cards and instead will eat the card,
as happened to me in Scotland. When
you take a cash advance keep the receipt for the transaction and compare it with your monthly statement. The
exchange rate will be calculated by the credit card company and may not be shown on your
monthly statement.
Hazards of Credit Cards
There are some important points to consider when using credit cards, especially in Europe.
Never sign a charge receipt if the total is not shown in the proper place at the bottom.
European sales clerks, waiters, and hotel clerks always leave this space blank. Fill it in before you
sign.
Write the name of the currency in front of the total amount. Sales clerks never fill this in,
since they are accustomed to euro, pounds, kroner, etc.. Use an abbreviation
such as GBP for British pound. Most likely your credit card account
is carried and billed in US dollars, though it can be in another currency.
Never sign a blank charge receipt. This may be obvious, but you will occasionally be
pressed by a hotel desk clerk to sign a blank receipt to assure them that the bill will be paid. Don't
even think of signing. If they insist on this, just run a new credit card charge each day and sign
nothing except a completed receipt. Do not pay in advance ("to make it simple"). Once they have
your money, the negotiating is over. If you arrive on the weekend and a construction site starts up
next to your window on Monday morning your options will be limited if you have already paid for the week.
Check your credit card when it is returned by a waiter or sales clerk. Make sure that the
card of someone else was not returned by mistake. And make sure that your passport is returned
if it was requested for identification. Several times they "forgot" to return my passport. I really
don't believe they forgot it at all. They didn't "forget" to ask me for it in the first place. I seriously
doubt that they would make you wash the dishes just because you "forgot to bring it tonight." As
mentioned above in discussing travelers checks, just show your passport to the waiter but do not
let it walk.
A "foreign transaction fee" of 1% to 3% is charged by most credit card companies. This is usually
shown as a separate line item on your statement. American Express blends it in and mentions their
fee (2%) on the back of the statement. Capital One Visa Card does not have a foreign
transaction fee, nor
an annual "membership fee." I wish that Cap One had a "chip and PIN" card.
Then it would be the unquestioned champion international card.
Audit Your Accounts
Keep an eye on your credit card statement. It is easy for corrupt merchants
or employees to hijack your card information and start using your credit for their
pleasure. You can check your account on line and verify the charges. Fraud can happen
anywhere. A Beverly Hills beauty salon owner was charged in mid 2010 with ripping
off starlets to the tune of hundreds of thousands of dollars.
If you are using a public access computer to go on line and check your statements
make sure to follow the security procedures outlined in chapter 19,
Internet and Email in Europe.
I get dinged
about once a year by some lowlife, either in Europe or the USA. Then VISA makes me
protest the charge to the merchant, which is not always successful. American Express
usually catches the thief before I do and bounces the charges. Once the security of
a card has been compromised the credit card issuer will then cancel the account
and open a new account for you. It is wise to carry more than one credit card.
Advantages
The advantages of credit cards to the traveler are several:
They are widely accepted for travel necessities at hotels and restaurants, for air fare, rail
passes, car rental, taxis, clothing, gifts, and even groceries
They are fairly safe. Your liability is generally limited to $50 for unauthorized use. If you
notify the issuer immediately when it is lost or stolen, your liability is zero. Check the fine print in
the agreement for the rules of your card. If it disappears look at your receipts to see where you
used it last. The sales clerk probably forgot to return it. This has happened to me several times.
Do not let the clerk lay the card on the counter. Take it from the clerk's hand.
A record of your purchases is sent with the bill. This helps your personal accounting so
you won't be wondering where all that money went. However, charge slips and receipts often
have the wrong date on them. Usually the year is wrong. And the date is written in the European
system -- day/month/year. If you need this information, get into the habit of writing it on your
receipt when you sign it. Also, write down the name and city of the establishment. The imprints
are too often impossible to read or fade out in a week or so.
Credit card payment is not due until 21 days after the statement is dated. This may give you up
to 51 days to pay without becoming liable for interest fees and late charges. Additionally, some
European establishments are rather slow in sending in charge slips so you might easily get 81 days
grace before payment is due. I was billed once for a credit charge made in Stockholm 18 months
previously!
The exchange rate is better than the rate used when buying bank notes, and no
commission is charged. This can save you several percent or so on all credit card purchases, unless
your card charges the "foreign tranaction fee." The
exchange rate used is the interbank rate in effect on the day that the charge was processed by the credit card
central office, not that in effect at the time you made the transaction. However, different cards use
different exchange rates.
Paying
You must make arrangements for receiving the credit card statement and making
payment on time. If you are traveling for only a month or so, this is no problem. You will be home
before the bill is due. If you are on a heavy duty trip, there are several ways to handle this.
One way is to keep a log of all credit purchases in your travel record book. Devote a page
to each credit card and include the payment address. Then airmail your payment for all current
charges about 10 days before the due date.
Another way is to set up an automatic payment plan with the bank which issued the card.
At the same bank, maintain a checking or saving account which will be debited each month to pay
your Visa or MasterCard bill. This leaves you with little control over misuse of your account, and
arguments with bank computers are usually frustrating.
You can be billed at a European address. This works well with some credit cards, but not
with others. For instance, some credit card companies send bills by surface mail (the boat takes
three to four weeks) and the statement arrives several days after payment is due. The next month
you will be socked with interest at usury rates and a late fee higher than most parking tickets.
Having your bill sent to a foreign address also presents a problem with proper addressing.
When I submitted a change of address to Visa for our move to Germany the bills stopped coming.
A few months later a collection agency called. The bills had been sent to some place in Africa
thanks to a back room nitwit at Bank of America.
When living in Switzerland and in The Netherlands from 1997 to 1999, American
Express statements were incorrectly addressed. Statements supposedly sent to Geneva,
Switzerland never arrived. Somehow one of them arrived in Switzerland addressed to Geneva,
WI. Despite half a dozen phone calls to their billing office this went on for months. It seems that
these big companies hire from the bottom of the barrel. For Holland, American Express addressed
my bills to Haarlem ET. As I recall ET was a movie, not a country. Maybe they can't spell big
words. Repeated phone calls brought either arrogance or helplessness on the part of the
American Express "customer service" people. Repeated submittal of change of address notices
did not work.
For American Express I discovered that you can go into any office, generously scattered
throughout Europe, and get a statement of your account. Anyone who steals your card can also
go in to see your statement, and get a printout with a bunch of your personal data. I did this in
Geneva and was not asked for any identification, a password, or anything. The Swiss are so
trusting, but they should at least ask for a photo ID before they pass out confidential information.
Currently I pay my credit card accounts by electronic transfer directly from my
bank using an Internet connection. I pay my city taxes, satellite TV, utility
bills, and other bills the same way. When I am traveling in Europe I carry a
netbook computer with WiFi so I can go on line and take care of my bills,
along with several other regular neccessities served by computers and the Internet.
If you are not toting a WiFi device you can use public computers but this is
dangerous. If you are forced to do this make sure to erase your browsing history,
all cookies, and turn off the browser before leaving the machine. See part 3
of chapter 19
Internet and Email in Europe:
Cyber Cafes, Keyboards, Password, Your Laptop for details on
securely using computers in Europe.
Instead of using the Internet, American Express has a great way of paying bills
by phone. You can phone in and have an electronic debit of your bank account
made payable to your American Express account. This saves time and postage,
and is more secure that the Internet. Some Visa and Mastercard accounts also
allow for phone-in payment from your bank account, but they charge
$15 or so for each transaction. That's a ripping rip off.
You can have a trusted friend or relative handle your financial affairs at home, though
mistakes can lead to loss of friendship or disharmony. Most people have a full life already and
have little time for or interest in handling the affairs of a relative gallivanting around Europe.
Choose with care and keep up good communication. Make sure you bring back a
unique gift in appreciation.
CASH
There is always that old standby -- cash. You can buy enough Franks, euro, pounds,
rubles, or whatever to pay for your entire trip. They will be accepted in the country which issues
them, and you won't have to worry about fluctuating exchange rates. But you might have to
worry about banking laws on the import and export of their currencies. In fact, some currencies
are not available outside their homeland. In those countries you are normally better off carrying
dollars anyway.
I tend to pay for everything with cash. I draw what I'll need for a few days at an ATM and leave the
credit cards for big expenses at hotels and such. This minimizes the risk of having my credit cards
compromised.
Last Minute Needs
On leaving a country by train, plane, or ship don't trade in all your local currency before
boarding. You may want to buy a last minute apple or newspaper, or you may be charged a
reservation fee or departure tax. Refreshments on board can be purchased with departure country
currency, and often at a lower equivalent price than if you use arrival country currency. Keep ten
or twenty dollars worth of your departure country currency until you are well over the border.
Coins
Europe doesn't use silver or gold anymore. European countries have debased their
coinage just like the USA. That makes it easier for the politicians to spend
us into bankruptcy by running the printing presses and
subsidizing all their friends with low interest government loans and outright free grants.
Copper, nickel, and aluminum alloy coins are in circulation in Europe.
While in America the largest coin in
general circulation is a quarter, some coins in Europe are worth two or three dollars.
Coins from different countries are very similar to each other and are easily
mistaken by Americans who haven't used them before. The natives know the difference
and will promptly correct you if you try to use money from the country next door.
When leaving any country unload all your local money at the border, if you can. On leaving Romania we
had a problem with this. Even though it was illegal to leave with any of the local
wampum, and we had receipts for all that we had bought, the border bank
refused to accept our Romanian lei and give us Hungarian forints.
They know the value of their own stuff — not much. At our motel
over the border in Makó we were able to unload the Romanian rubbish at a
steep discount for Hungarian forints, but then had to pay for the
room with German Marks. The motel keeper didn't like his native forints either.
Emergency Greenbacks
Lastly, always carry some greenbacks wherever you are, and use them only in
emergencies. If you have no need, just bring them home. I would recommend carrying five each
of $1, $5, and $20 for emergency exchange situations. I also bring ten $100 bills
in case of a big emergency. Bring
these from home, of course. Make sure you bring crisp new bills. Europeans do not
like dirty old money. And bring the new style "big face." These are the only US
bills which are water-marked, among other anti-counterfeiting measures.
Europe has had water marks for decades and finally the USA got around to it,
but not before millions of forged $100 bills went into circulation around the world.
MONEY POTPOURRI
Identification
When exchanging money in many countries your passport is required as I.D.
Interbank Transfers
If you are a regular visitor to Europe there are other ways to get your money overseas.
One is to have your bank transfer funds by wire from your account to an account
you have established with a foreign bank. Make arrangements for transfers before departure.
This service costs $25 to $35 per transfer. Banking and money laws
vary from country to country so check out all the rules before jumping to this course of action.
This procedure would be practical for someone making a long journey or many frequent trips,
or planning to settle down over there.
Resident Bank Account
Those planning to live overseas for work or study should get a resident bank account.
But this may present at least one other problem. You may be
prohibited from maintaining a bank account at home. For example, Dutch authorities
will very curious if they notice money flowing between your Dutch account and another
account under your name outside Holland.
Tax evasion is a practiced art throughout Europe. Few
people miss a chance to hide some zwart gelt (black money) from the confiscatory tax man.
In 2009 the German tax collectors were offered a list of wealthy Germans who had secretly
parked piles of money in Swiss banks to avoid taxes. The list had been stolen but the
German tax authority paid a premium to get it because the return on their investment
was huge. Many people were nabbed and had to ante up. If you complain about
American taxes you ain't seen nothing till you see the tax laws of Europe.
Some countries regulate the amount of money that anyone, resident or not, may take over
the border. Even US citizens are required to report large transfers, those exceeding
$10,000. This regulation is supposed to help stop traffic in illegal drugs. Fat chance.
Why don't we just legalize marijuana? That would bankrupt the drug cartels.
We wouldn't need all these fascist laws. Then tax the grass like booze and
eliminate the national debt. Everybody be happy! This paragraph is dedicated to
Conmgressman Ron Paul. Unfortunately most of the other politicians are stupid, corrupt, or
incompetent. Illinois supplies a good percentage of those.
Letter of Credit
Another way to carry money overseas is to obtain a letter of credit from your home bank.
These are usually used by commercial establishments in paying for imported goods, and are
therefore written for very large amounts of money. In
practice, a letter of credit could be likened to a certified check or a travelers checque.
It's reported that letters of credit are not held in the highest esteem because of
the ease of forgery. Don't play with this unless you really know what you are doing. Ordering
a direct electronic funds transfer is the modern, and safer, way to transfer a large batch
of money overseas.
Caveat Cash
Be careful that you don't receive some funny money as change from storekeepers. This has
happened to me several times in Holland. The Dutch retired their beautiful old bank
notes and substituted new bank notes in gaudy pastel colors. No Dutchman would
accept the old currency because they knew that it was out of circulation,
but it was passed to American tourists in the 1980s. Germany introduced new
banknotes in 1993 and obsoleted the old ones. These countries now use the
euro so you shouldn't be seeing any Dutch gulden anymore, period.
It is worthless.
Also, beware of counterfeit money. Several times I have seen French storekeepers
hold a 100 or 500 franc note up to the light to make sure that it was good.
Bank notes in Europe are watermarked. Usually the watermark is the portrait of
a national hero found in a blank oval on the note. Sometimes it is a geometric
pattern. The new euro is also watermarked. Make yourself familiar with
the characteristics of the local currency to help avoid the sting.
Regulations
Many of the eastern countries prohibit import of their currencies. That assumes that you
could buy them somewhere in the first place. When you do buy currencies in the east,
make sure that you obtain and keep the receipt. These countries are extremely upset
by black-market dealing in their currencies. As mentioned above, even with the
receipt I was not able to reconvert my Romanian
lei.
Before returning to the United States, it is best to trade all your excess foreign money
back to US dollars. At home, banks charge a fee per transaction per currency,
in addition to their
high spread. Instead of cashing it in at home you would probably be better off if you
framed the money you brought home.
Barter
If you're out of cash and credit, try the oldest means of exchange -- barter. I met an
Australian traveler who claimed to have traded a pair of Levis for three nights
of room and food for himself and his wife in Yugoslavia. Barter is not very
effective in western Europe, even though the price of Levi's is about triple
what we pay in the USA. Levi Strauss is pretending to be Calvin
Klein in Europe.
NOTE TO READERS
I welcome questions and comments. If you have any concerns about your trip to
Europe that have not been covered well enough in this chapter do not hesitate to write and ask.
My email address is
johnbermont@enjoy-europe.com.
When you write please include as much detail as possible. There are about 50 countries in Europe.
It will help me answer if you mention the countries and/or cities you plan to visit.
I will reply in a day or two.
Don't forget to scroll through the Table of Contents below. The other 29 chapters of
HOW TO EUROPE
are also available, free to read on line. In addition, the Google search box below can locate specific subjects
in any chapter or page on site.
For a check-off punchlist of everything go to The Finale,
Packing List and Last Call:
For Travel In Europe
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