Paying for Stuff in Europe

In general, banks are real jerks and will add on a bunch of extra fees when you try to pay for something in Europe. There are ATM fees and "foreign transaction fees" in addition to that pesky exchange rate that's already screwing us (check the current rate here).

These fees occur when:
A) You get cash from and ATM
B) You pay for something with a card (debit or credit)

Let's look at ATMs first. And, actually, before I do that, let me say that you do not need to go to a bank and exchange dollars for euros prior to the trip. Banks and the Forex exchange places at airports will rip you off at some crazy rate. There will be ATMs at the airports in Europe that will give much better rates. If you do want to get a few euros before we go, do just that - get a few euros.

Now back to the ATMs. If you just go up to the first ATM you see and take some cash out, you will be charged an ATM fee (up to 5e) and a foreign transaction fee (about 3% of how much you take out).

So if you take out 100e, it could cost you up to 8e (currently $10.41) to make that transaction.

But if you select the proper ATM, you can save some money. Bank of America has the best ATM network in the world. They partner with the following banks:
Germany: Deutsche Bank
France: BNP Paribas
Belgium: BNP Paribas or Deutsche Bank

If you use one of those ATMs - and they are plentiful - you do not have to pay the ATM fee, just the foreign transaction fee.

So that same 100e would only cost you about $4 instead of $10.

If you don't have Bank of America...it will be a little tougher and a little more expensive to get cash.

Also, those of us going to Holland should notice that Holland is not on the list, so let's try not to use a lot of ATMs while we're there.

 If we feel safe carrying cash, we should just carry a lot of cash.

Now onto general credit/debit card transactions.

When you make a purchase with a card, you will, once again, be charged the foreign transaction fee. Again it's about 3% of the purchase price.

The only card that doesn't charge you anything for foreign transactions is Capital One. So, go ahead and get yourself one of those, if you like.

Also, notify the banks of any card that you'll be using in Europe that you will be traveling or else they might think a transaction in Germany is "suspicious" and suspend your account. We don't need that.

That's the scoop!