Exchange Rates

If your wondering what the exchange rate is for the place your visiting, I recommend you calculate it using one of these two sites: http://www.xe.com/ucc/ or http://www.x-rates.com/. As far as converting your money goes, you will need to do your homework if you want save money, as these rates will change daily and every organization has a different fee for converting money.

First, you'll need to check with your bank to see what their currency conversion rates are. I know that US Bank will charge about 4% of the amount I convert when using ATM's abroad. This does not include the host bank's special fees for using their ATM. So, basically, I'm going to avoid withdrawing money abroad from an ATM whenever possible.

In fact, the best rate I was able to find for obtaining money abroad was actually on my Nordstrom credit card. In particular, I am only charged a 1% conversion fee whenever I use the card. However, if you decide to rely on credit cards remember that not every vendor in Europe accepts them. Also, some vendors/retailers may charge an additional fee for the convenience of using a credit card. This really will just depend on where you are.

Before leaving, I recommend having some money converted. This way, if anything were to happen upon your arrival, you will be able to address the situation immediately. I asked US Bank what their charge was for this, and it varied depending on the branch. I think it was a flat fee somewhere around $12.50. A friend of mine banks with Commerce and they did not charge her anything for the conversion.

Travel Safe,

Some Study Abroad Girl