Carrying Euro

[Siom]

Hi
I like to find out how did you past-pilgrims carry spending Euro along the CF?

1. Use credit card and be subjected to fluctuations in foreign exchange rates
2. Buy a cash passport at home but be subjected to slightly unfavorable exchange rates
3. Bring cash and hide in various places
4. Buy cash passport in France and load up in Euro
5. Others

I was looking at getting cash passport from Travelex agent in France, but not sure if I can load directly using Euro (in cash) to the cash passport.

Thanks.

 

[Anemone del Camino]

Hi
I like to find out how did you past-pilgrims carry spending Euro along the CF?

1. Use credit card and be subjected to fluctuations in foreign exchange rates
2. Buy a cash passport at home but be subjected to slightly unfavorable exchange rates
3. Bring cash and hide in various places
4. Buy cash passport in France and load up in Euro
5. Others

I was looking at getting cash passport from Travelex agent in France, but not sure if I can load directly using Euro (in cash) to the cash passport.

Thanks.

Hello Siom,

I had never heard of Cash Passports before and just looked it up so what I will say may not be completely on target. I am correct to say that the only difference between a debit card and the passport is that the passport is not linked to your bank account and may therefore seem more secure?

I bring cash with me, 2 credit cards and my debit card. I keep enough cash on me for a week or so of expenses.

Money for the day goes in one bottoned pant pocket, the rest of the money and cards live with my passport and credencial in the other pantpocket (cargo type). I only carry the credit cards in case of emergency: if I need to fly home earlier what have you. Debit has always worked well for me, although I sometimes have needed to visit a second bank (or whole in the wall) if the first did not give me access. But in larger towns you will have a number of banks so it's not a real issue.

I hope this is helpful.

 

[colinPeter]

Hi Siom
We take 3 or4 hundred Euros with us, this is the most we ever carry.
We use either Cash Passport or Commonwealth Travel Money Card pre loaded with Euros.
And withdraw as we need to in the bigger village/towns.
At the moment Commbank give better rate, even with the first load fee.
Regarding whether it is better to use your credit card or pre load depends on which way the rates are going.
You would think steady or down (AUS$), but nobody knows for sure. Anyone who says they do, would not be wasting time chatting on forums, they'd be too busy trading FX.
Your can guess & buy all now or hedge and buy some now some later?
Buen Camino
Colin

 

[Siom]

Hi Anemone, thanks for the reply. Yes, the cash passport is more secure as the damage is only limited to how much you reload onto the card. Guess I'm trying to find the best way around currency exchange rates. Currently, Euro is higher and looks to be continuing that way . The money changers offers slightly better rates than the banks and Travelex but unfortunately, I think I cannot load the same currency onto the cash passport, i.e. there must be a conversion during the reload.

 

[Siom]

Hi Siom
We take 3 or4 hundred Euros with us, this is the most we ever carry.
We use either Cash Passport or Commonwealth Travel Money Card pre loaded with Euros.
And withdraw as we need to in the bigger village/towns.
At the moment Commbank give better rate, even with the first load fee.
Regarding whether it is better to use your credit card or pre load depends on which way the rates are going.
You would think steady or down (AUS$), but nobody knows for sure. Anyone who says they do, would not be wasting time chatting on forums, they'd be too busy trading FX.
Your can guess & buy all now or hedge and buy some now some later?
Buen Camino
Colin

Hi Colin, guess I'm a bit fuzz with the exchange rates. You're right that we can't determine the way it goes (up or down).

 

[grayland]

I think that you will find that most people use ATMs along the way and withdraw 300 or so euros at a time...or enough for a few days if 300 seems too high. The fees can add up if you just make a number of small withdrawals.

1. I take two cards on different banks so that if one gets "eaten" I will still have a working card.
2. I try not to use ATM on Friday night or weekend because the ATM Bank will be closed until Monday if something does happen to the card.
3. The exchange rate is usually the best you will get at the ATMs
4. You don't say which country you are from...but Schwab Bank and several others in the U.S. have a no fee ATM card that will pay you back any fees charged by ATM bank. I first heard of this from Falcon here on the Forum and opened an account to use on the Camino. Google banks, credit unions in your area to see who offers no-fee ATM services.
5. BE SURE to notify your banks (Debit & Credit Cards) where and when you are going. They will shut your card down if it suddenly starts being used in a foreign country.
6. Safeguard your cash and cards carefully in the albergues and elsewhere. Take normal precautions and keep them with you at all times.

 

[Siom]

I think that you will find that most people use ATMs along the way and withdraw 300 or so euros at a time...or enough for a few days if 300 seems too high. The fees can add up if you just make a number of small withdrawals.

1. I take two cards on different banks so that if one gets "eaten" I will still have a working card.
2. I try not to use ATM on Friday night or weekend because the ATM Bank will be closed until Monday if something does happen to the card.
3. The exchange rate is usually the best you will get at the ATMs
4. You don't say which country you are from...but Schwab Bank and several others in the U.S. have a no fee ATM card that will pay you back any fees charged by ATM bank. I first heard of this from Falcon here on the Forum and opened an account to use on the Camino. Google banks, credit unions in your area to see who offers no-fee ATM services.
5. BE SURE to notify your banks (Debit & Credit Cards) where and when you are going. They will shut your card down if it suddenly starts being used in a foreign country.
6. Safeguard your cash and cards carefully in the albergues and elsewhere. Take normal precautions and keep them with you at all times.

Hi Grayland, thanks for the reply. I'm from Australia. Thanks for the tip regarding withdrawing money on Fri.

 

[colinPeter]

.. I think I cannot load the same currency onto the cash passport, i.e. there must be a conversion during the reload.

Not sure what you mean here? You can load AUS$ but it is not a good option because I believe you get a lower rate to convert "on the card" and also charged if you try withdraw in a currency not already loaded.
I haven't tried to use an Australian Debit card because I always pre-load. Exchange rates at the time aside, I guess you could check by seeing what A$500 would get you on a pre-load (how many Euros you get) compared to the exchange rate & fee from your bank (what it costs to get Euros) on the same day (ie today or tomorrow), I assume the variation would just move with the FX rate when you travel later.
Colin

 

[Siom]

Not sure what you mean here? You can load AUS$ but it is not a good option because I believe you get a lower rate to convert "on the card" and also charged if you try withdraw in a currency not already loaded.
I haven't tried to use an Australian Debit card because I always pre-load. Exchange rates at the time aside, I guess you could check by seeing what A$500 would get you on a pre-load (how many Euros you get) compared to the exchange rate & fee from your bank (what it costs to get Euros) on the same day (ie today or tomorrow), I assume the variation would just move with the FX rate when you travel later.
Colin

Hi Colin, I meant if I have Euro dollars, I cannot load it straight onto the cash passport. For reload to happen, there must be a currency conversion from AU$ (home country) to Euro or whatever currency.

 

[colinPeter]

Hi Colin, I meant if I have Euro dollars, I cannot load it straight onto the cash passport. For reload to happen, there must be a currency conversion from AU$ (home country) to Euro or whatever currency.

Do you have Euros in a French bank?

 

[AJ]

I take 300 euros in cash and a Cash Passport. I have used cash Passport every year since 2008 and had no problems with it, though the fees can mount up. Along the Camino I withdraw from ATMs as needed, never more than 300 at a time. Finding an ATM when needed has never been a problem for me.

 

[whariwharangi]

The exchange rate at the ATM is as good as you will get. There is no knowing if you are better off buying it all at the start or buying as you need it. As you say the rate fluctuates ... further it fluctuates up AND down.

There are ATM cards that waive other fees that are often associated with ATM.

The Albergues and many of the shops don't have the ability to process credit cards ... in the villages its a cash only economy.

I drew as large as the card or ATM would allow to avoid multiple fees not covered by the ATM card provider. And that was usually enough to go for 10 days or more.

There are some long stretches where there are not towns large enough to have an ATM. I made sure I had a minimum of 100 euro.

You should get at least 100 euro in your country of origin. You may need it as soon as you get off the plane. My first trip to Spain had me landing in Malaga and the ATM machines at the airport were out of service. My first trip to Argentina found very long lines at the ATM machines in the airport ... a couple of hours were lost in the Jet Lag haze that could have been better spent at the hotel.

One other thing ... I got off the plane in Biarritz and took the bus downtown. The bus driver was unhappy that the smallest note I had was 20 euro ... to pay the 1 euro fare. Its hard to get but try to carry something smaller than a 20 euro note.

 

[KinkyOne]

Don't forget that in EU we use 4-digit PIN codes, so it might be very useful to change yours before coming to Spain or France

 

[Tia Valeria]

We can load the cash passport with euros 'free' in the UK (subject to exchange and commission costs) but would have to pay a fee if loading it with £GB. A similar situation could arise trying to load euros within the euro zone, and you would still pay the other fees to get your euros. The card is good as a 'cut out' from your actual bank account and most limit withdrawals to betwenn 250€ and 300€ in 24 hours as protection against theft. some ATMs also have similar limits. Insurance treats the card as cash (for us anyway) but it still seems better than using our debit card. A 'Mastercard' seems to carry less charges per withdrawal than a Visa card. We carry a credit card and notify the provider of the journey and with restrictions (eg no white goods).
Watch out for charges for non-use, or cash the card in on returning home.....
Buen Camino

 

[Mark Lee]

Exchanged my US dollars for Euros at the Madrid airport (CDG airport on my first Camino) and after that used my credit card to get more Euros at ATM's along the Way. I was charged a foreign transaction fee, but figured it was worth it for the ease and safety of withdrawing only what I needed and not having to carry too much cash on me. Money, credit cards and passport never left my person (except to shower of course, and even then was hanging in waterproof pouch in front of me). Also, I notified my bank/credit card company prior to my travel to notify them of dates of travel as well as countries ATM transactions would take place.

 

[aname4me]

To use an ATM, you must memorize your pin number as a number.... not as letters or as a pattern.

In Europe...
Most ATMs present like a Calculator with number 1 on the lower left.
Some ATM's present like a Phone with number 1 on the upper left.
Most do not have letters below the numbers.

Also (I have heard) some ATMs will not except a 6 digit pins, only a 4 digit pins.

I used my debit card, all along the Walk with no problems.

 

[KinkyOne]

To use an ATM, you must memorize your pin number as a number.... not as letters or as a pattern.

In Europe...
Most ATMs present like a Calculator with number 1 on the lower left.
Some ATM's present like a Phone with number 1 on the upper left.
Most do not have letters below the numbers.

Also (I have heard) some ATMs will not except a 6 digit pins, only a 4 digit pins.

I used my debit card, all along the Walk with no problems.

Good advice, @aname4me
But as I posted before I haven't heard for an ATM in EU that would accept 6-digit PIN... So it's better to change it.

 

[jefferyonthecamino]

Just withdraw 100-200 euros with your ATM card, rates and comissions are hardly going to break your bank.

 

[Carol06]

I took a mix. I carried some cash that was stored in various places. I carried a credit card as back up. But the best thing for me was having a cash passport loaded with euros. Load this in your home country with euros when the exchange rate is in your favour. It has good security and you receive two cards with two different pin numbers so if one is compromised you still have a second card.

 

[CaminoCruiser]

One other thing ... I got off the plane in Biarritz and took the bus downtown. The bus driver was unhappy that the smallest note I had was 20 euro ... to pay the 1 euro fare. Its hard to get but try to carry something smaller than a 20 euro note.

@whariwharangi thank you for this: I too will be getting the bus downtown from Biarritz Airport, now I will make sure I have smaller Euros if possible.

 

[marbuck]

No matter what you do, you are going to get hit with bank fee's. That's how they make their money. Just look at it as another cost of walking the Camino. We all like to do it as cheap as we can but it's still a cheap European holiday. It's a lot more fun than doing nine European country's in 14 days on a bus trip.

 

[grayland]

Actually (as posted above), it is possible to avoid ATM fees and foreign transaction fees.
There are now many banks and credit unions that are offering no foreign transaction fees and reimbursement of all ATM fees.
It works well.
I have two of these accounts that I use on Caminos.

 

[Kitsambler]

I see that many participants in this discussion are from Australia and New Zealand. Perhaps the banking laws and regulations are different in North America, but in the US at least, one is only liable for $50 theft on a credit card, but the liability is the entire account balance on debit cards. The TravelEx Cash Passport is a pre-loaded debit card. So, what one gains in security by disconnecting the passport from the checking account is offset by a greater liability upon loss.

Bank fees are a real thicket. There is the (possible) fee charged by the bank owning the ATM. There is the (possible) fee charged by the bank operating your account. Those apply for cash. There is a (possible) fee for credit card transactions, charged by the credit card provider. That fee is much higher for cash advances. The very worst course of action, from a fee perspective, is to use a credit card for a cash advance from an ATM, because all the fees get imposed on the one transaction.

Bank fee structures also change from year to year. My main credit card, that had no foreign transaction fees a few years ago, now has them. Somewhere along the way, I assume I received one of those pesky fine-print notices regarding this change. But it did come as a surprise. As with so many other financial issues, it pays to do your research, keep a skeptical eye, and stay up to date.

 

[Anniesantiago]

I carry a Charles Schwab card (they refund all fees) and carry 200-300 Euros in cash.

 

[Siom]

There are some long stretches where there are not towns large enough to have an ATM. I made sure I had a minimum of 100 euro.

You should get at least 100 euro in your country of origin. You may need it as soon as you get off the plane.

One other thing ... I got off the plane in Biarritz and took the bus downtown. The bus driver was unhappy that the smallest note I had was 20 euro ... to pay the 1 euro fare. Its hard to get but try to carry something smaller than a 20 euro note.

Hi whariwharangi, thanks for the tip. Now got to find some loose euro coins. Merry Christmas to u and all.

 

[Siom]

We can load the cash passport with euros 'free' in the UK (subject to exchange and commission costs) but would have to pay a fee if loading it with £GB. A similar situation could arise trying to load euros within the euro zone, and you would still pay the other fees to get your euros.

Hi tia, you could load local currency onto the cash passport? I'll check how much fees it would incur. Thanks. Merry Christmas.

 

[donalomahony]

1. I take two cards on different banks so that if one gets "eaten" I will still have a working card.
2. I try not to use ATM on Friday night or weekend because the ATM Bank will be closed until Monday if something does happen to the card.




These are particularly good pieces of advice.

 

[CaminoCruiser]

I took a mix. I carried some cash that was stored in various places. I carried a credit card as back up. But the best thing for me was having a cash passport loaded with euros. Load this in your home country with euros when the exchange rate is in your favour. It has good security and you receive two cards with two different pin numbers so if one is compromised you still have a second card.

Hi @Carol06: you obviously didn't have any issues with your Travelex Cash Passport? I have thought about this but am a bit worried about problems with the card/s (I looked at reviews on Google). I remember being on a cruise in Europe a couple of years ago and half the passengers (all Aussies) had terrible trouble with their cards. They were unable to access their money and calling Customer Service was useless. Also you get charged an annual fee whether you use it or not, you can still get charged at some atm's, and also charged to reimburse any leftover money on the card? How did you find these fees?

 

[camino07]

I have been using an ANZ travel card for the past 3 Camino and have had no problems and no fees,only 11$ to obtain card.
Also had double currencies on it and no trouble changing to pounds in UK

 

[Tia Valeria]

Hi tia, you could load local currency onto the cash passport? I'll check how much fees it would incur. Thanks. Merry Christmas.

It is not worth loading our own currency on the card because of the fee, plus the exchange rate etc when withdrawing cash and the risk of not knowing what it is costing day to day. The best way is to load with euros plus the known withdrawal charge and then there is no chance of running out of cash. Ours can be checked on-line and also can be linked to a credit card for reloading, but it is always cheaper to change the cash from £GB to euros and load it with cash euros -so avoiding credit/debit card fees.

It all takes some working out....

 

[Carol06]

Hi @Carol06: you obviously didn't have any issues with your Travelex Cash Passport? I have thought about this but am a bit worried about problems with the card/s (I looked at reviews on Google). I remember being on a cruise in Europe a couple of years ago and half the passengers (all Aussies) had terrible trouble with their cards. They were unable to access their money and calling Customer Service was useless. Also you get charged an annual fee whether you use it or not, you can still get charged at some atm's, and also charged to reimburse any leftover money on the card? How did you find these fees?

Hi Camino Cruiser. I had no problem with annual fees because I emptied that account of all funds. When I need a cash passport again I will just get a new one. To be honest, I do not recall that there were annual fees, but this was not something I was worrying about because of the account being empty. I had no issues at all getting money from ATMs, but it was difficult to find out what my balance was. I would certainly use the same system another time.

 

[joe g texas aggies]

Hi Anemone, thanks for the reply. Yes, the cash passport is more secure as the damage is only limited to how much you reload onto the card. Guess I'm trying to find the best way around currency exchange rates. Currently, Euro is higher and looks to be continuing that way . The money changers offers slightly better rates than the banks and Travelex but unfortunately, I think I cannot load the same currency onto the cash passport, i.e. there must be a conversion during the reload.

FWIW, the money "experts" think the Euro will continue to decline against the US$, because the US will most likely raise interest rates starting the middle of next year. The ECB will try to keep interest rates low in Europe to stimulate the economies there. The higher interest rates in the US will attract foreign investment at the expense of the Euro.
Currently, the US$/Euro about equals 1.22. That conversion rate is expected to go to 1.15 dollars to a Euro in 2015. These are the same people who have predicted the steady decline of the Euro to the dollar, so I suppose they know what they are doing.
In the overall scheme of things, I would not worry too much about exchange rates. I have a debit card that does not charge an additional foreign exchange fee and I figure that is about the best I can do.

 

[CaminoCruiser]

Hi Camino Cruiser. I had no problem with annual fees because I emptied that account of all funds. When I need a cash passport again I will just get a new one. To be honest, I do not recall that there were annual fees, but this was not something I was worrying about because of the account being empty. I had no issues at all getting money from ATMs, but it was difficult to find out what my balance was. I would certainly use the same system another time.

Thank you for your reply. I might just go the Travelex after all, and also take my Visa for back-up.

 

[CanPete]

Hi
I like to find out how did you past-pilgrims carry spending Euro along the CF?

1. Use credit card and be subjected to fluctuations in foreign exchange rates
2. Buy a cash passport at home but be subjected to slightly unfavorable exchange rates
3. Bring cash and hide in various places
4. Buy cash passport in France and load up in Euro
5. Others

I was looking at getting cash passport from Travelex agent in France, but not sure if I can load directly using Euro (in cash) to the cash passport.

Thanks.

My modest opinion :
On the Camino Cash is king (I carried between 200-500 at any time), have a back-up Debit card with which you can draw cash from ATM's if/as needed, second back up is a credit card. Keep about 50 easy to reach and the rest with your passport, don't spread it out all over the place. Don't be too worried about theft, just use common sense; if you leave the Hostel for dinner or sightseeing, take your valuables (only) with you . . . Buen Camino

 

[waveprof]

Cash is really the only way to go along the camino. Maybe take a bank card to refill on cash at ATM's from time to time, but I wouldn't expect to be able to do much with a credit card

 

[Saint Mike II]

On most international trips I carry an amount of the local currency (say $250-300 = $225 US or E180-200) and then use the Debit Cards and MC/VISA for larger purchases. ATM fees can be quite high - depends upon your bank and the ATM facility being used - but $5 is about the norm. The Cash Passports to have the advantage of a fixed exchange rate - so you can win or lose - but again you can still get those ATM fees.
On the subject of "machine swallowing your card" - one reason I try to use only major banks, recovery is a lot easier although you may need to wait around for a couple of hours until they are resetting the security systems.

 

[Brisbanegee]

Hi
I like to find out how did you past-pilgrims carry spending Euro along the CF?

1. Use credit card and be subjected to fluctuations in foreign exchange rates
2. Buy a cash passport at home but be subjected to slightly unfavorable exchange rates
3. Bring cash and hide in various places
4. Buy cash passport in France and load up in Euro
5. Others

I was looking at getting cash passport from Travelex agent in France, but not sure if I can load directly using Euro (in cash) to the cash passport.

Thanks.

Hi when are you looking at going?

We are heading in a couple of months from Brisbane.

Cheers

 

[Siom]

It is not worth loading our own currency on the card because of the fee, plus the exchange rate etc when withdrawing cash and the risk of not knowing what it is costing day to day. The best way is to load with euros plus the known withdrawal charge and then there is no chance of running out of cash. Ours can be checked on-line and also can be linked to a credit card for reloading, but it is always cheaper to change the cash from £GB to euros and load it with cash euros -so avoiding credit/debit card fees.

It all takes some working out....

I just spoke with Travelex agent. She confirmed i can only use home currency for foreign currency. E.g. in AU i can only use AU to buy euro.

 

[Siom]

Hi when are you looking at going?

We are heading in a couple of months from Brisbane.

Cheers

Hi Brisbanegee, planning next mid Sep. Coincide?

 

[Tia Valeria]

I just spoke with Travelex agent. She confirmed i can only use home currency for foreign currency. E.g. in AU i can only use AU to buy euro.

Yes, what I was trying to say was that we use £GB cash to buy the euros which are then loaded onto the card free of charge but incurring the usual currency change for cash (not debit/credit card extra charges). We never have the euros in our hands. If we want to load £GB there is a loading fee and then we would also be paying all the charges at Spanish ATMs - currency change etc. and I am not sure if it would work done like that anyway.

 

[Kathy F.]

Ugh. One of my biggest problems.
I'm an American living in Europe.
I ended up getting a credit/debit card from my credit union with a chip (as they use in Europe, not as popular in the U.S.)
I pulled € out of the ATM's along the way as needed, usually a week's worth at a time.
It was too complicated to figure out the ramifications of the various charges in advance.
It all worked out and I didn't go broke nor did I get any money stolen.
I'm sure I'll do the same thing next time.
The end.

 

[Brisbanegee]

Hi Brisbanegee, planning next mid Sep. Coincide?

Hi,

Start walking 1st March So excited and can give you some tips when we get back.

You will have warmer weather for sure.

Glenn

 

[GreatDane]

I bought 200Euro from my home bank (Chase), used my debit card only to get additional euros and my Chase chipped credit card for a few restaurants, bus from and to Madrid and hotels in the big cities. I did have "problems" with my Chase chipped credit card at 3 places that had a Visa sticker on their door, and I asked if they took Visa and they'd say yes and then when I took out my Chase card they'd say NO CHASE. One restaurant even said No Chase and then listed US stores that had been hacked including Home Depot and Target. Came home with no Euro notes and only 2 euros worth of odd change.

 

[Siom]

Hi,

Start walking 1st March So excited and can give you some tips when we get back.

You will have warmer weather for sure.

Glenn

Hi Glenn,
Wow, I'm excited for you too. Hope to hear your experience. Probably will drift off the topic: which airline and where is your entry point (Paris/Madrid)?

 

[Brisbanegee]

Hi Glenn,
Wow, I'm excited for you too. Hope to hear your experience. Probably will drift off the topic: which airline and where is your entry point (Paris/Madrid)?

Hi

Flying from Brisbane on Singapore Air and arrive in Paris for 1st night then head down to SJPP following day. I am excited.