Author Topic: Currency Exchange  (Read 4770 times)

Offline Jeff Winchell

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Currency Exchange
« on: March 15, 2005, 06:51:01 AM »
I was thinking of buying Euros before I left the US, but checking with my local currency exchange, they're giving me about .64 Euros per US Dollar, when the official exchange rate is more like .74 Euros per US Dollar. That's absurd.

I hear that people like to use ATMs in Crete to get local currency.

However, in the US, we're kind of annoyed at ATMs because we're always getting charged a fee by the operator of the ATM, plus another fee by our bank for not using one of their ATMs.

So how much does it typically cost (vs. the official exchange rate) to get Euros via an ATM in Plakias?

Checking with my bank, Washington Mutual, they charge 3 US Dollars every time I use an ATM. They also, strangely quoted an exchange rate of 1 Euro costing 1.2638 US Dollars while Yahoo.com (and other official exchange rate websites) say a Euro costs about 1.336 US Dollars). And just to confuse things, my bank thinks it has a different rate for using my ATM as a Visa... but they don't know what that rate is.

Also, my bank says my ATM card will only work in machines that are part of the Plus, Interlink or Star networks. Which (if any) of the Plakias ATMs are part of one or more of those networks?
« Last Edit: March 15, 2005, 07:02:41 AM by Jeff Winchell »

Offline Graham_and_Karen

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Currency Exchange
« Reply #1 on: March 15, 2005, 08:19:10 AM »
Jeff, difficult as a UK resident to make much comment on US bank charges or what US cards the Plakias ATMs will accept but if the situation is similar to the UK you might do well to compare charges from different banks as they could vary greatly. You could then open an account with the bank with the lowest charges, just for use abroad. We've done that for this year with the UK bank, Nationwide that make no charge for ATM use in Greece.

Offline Allan Barham

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Currency Exchange
« Reply #2 on: March 15, 2005, 08:31:59 AM »
You will also find that all the money exchange offices in Plakias are perfectly happy to accept dollar bills and dollar travellers cheques.  I can confirm that Nationwide Bank makes no charges for ATM withdrawals and offers a very good rate of exchange.

Allan