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Thursday, June 2, 2011

Stretching Your Dollar While in Europe

When it comes to saving your money while in Europe, you can mitigate the pain of the current exchange rate without compromising your ultimate trip. You might want to check on these 6-step plan to make your trip worthwhile.

  1. The best way to get your local currency is through cash machines as long as you can handle the exorbitant fees! Check your bank before leaving home.

  2. Find your bank's local partner as many of them now work with partners abroad and allow customers to take out money at no charge.

  3. Make fewer exchanges in larger increments. Currency exchange kiosks such as Travelex (located at most airports) provide a lower service fee for larger transactions.

  4. Using your credit card abroad can guarantee you the lowest exchange rate and protects you from unauthorized charges. Consider using your card if you're doing major purchases.

  5. Transportation expenses should be minimized. Consider car-rental that rates in dollars such as autoeurope.com. Also check eurostar.com.

  6. Watch out for dynamic currency conversion. It's always much safer when you consider using the local currency when buying.

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