Currency exchange while traveling: why do some still carry wads of cash? (page 25 of 28)

Logic, like science, is based on dogmas, but we mustn't say so—it's a secret ;)...

Michel

The cheapest currency exchange is still more expensive than the exchange done with a card like fort7neo, boursobank, revolut, n26, etc.

You’ll never manage to convince a believer they’re wrong.😉

There’s no logic in dogma.

That said, on very rare occasions, you might stumble on a good deal and save 2 or 3 euros... out of 1000...

Hey chamelle 😏 All I’m waiting for is for you to prove me wrong (and I’d say you’re right and admit my mistake). But to convince me, all you have to do is give me the name of a specific bank card so I can compare it with exchanging cash in town abroad—euros to another currency. How do you expect to persuade me if you don’t give me a specific card example?

@Attila, @Tatra, @Masterpo, as long as you don't provide proof of what you're saying by citing a specific example of a bank card, you won't have any credibility. It's so easy to write hundreds of messages without proving anything 🤷

You can't mislead thousands of members who read your posts because your statements will influence their choice of exchange methods. @Masterpo, someone who, like you, claims and insists that online banks offer cheaper exchange rates than cash must be able to name the exact bank card you use to back up your claims—down to the minute. The fact that you don’t do this means you have no idea what you’re talking about and are just throwing things out there, just like the other commenters spouting the same nonsense. Stuck in bed with a broken rib (I’ll be like this for weeks, unable to do anything but type on a keyboard). So I won’t let this go—it’s directly related to the topic of this thread. A topic about currency exchange that no one has wanted to discuss honestly for 6 years: why carry suitcases full of cash when using a card is supposedly cheaper? 😄

Your move is a bit of a gamble. You can often exchange a lot when you arrive in a country if the exchange rate is better the next day (this happens in quite a few places), and then you really regret having exchanged all your cash already. 😏 In most cases, it's best to avoid exchanging cash at the arrival airport—the rate is usually unfavorable, but everyone knows that. Those who use ATM withdrawals with online bank cards like Fortuneo or Revolut are onto something, but the downside (whether you have one or multiple cards) is the risk of having your card "eaten" by the machine. If that happens on a Friday night, unless you wait until the bank opens Monday morning, you’re without one of your cards for a while… So having one or more online bank cards is great, but having some cash on you too is even better. 😄

And daring to tell the truth is even better. No card name = impossible to verify if they're winning. Always the same story of pride, arrogance, and... Then people will tell me I'm vulgar without checking if an expression has the same meaning in different regions. One day everything will be standardized, and people will be happy with a sterilized world 😏 But when someone tells tall tales with fancy words, oh, that slides right by—even if it misleads everyone. Pfffff "If the exchange rate is better the next day (which happens a lot in many countries), you’ll really regret exchanging all your cash." A rate never changes overnight enough to make you lose money when a large sum significantly reduces the fees, which are progressive. The fees inherent to the ATMs’ owners—they pay those with their cards. But with their cards, which are almost all limited either in the number of free withdrawals or the amounts they’re allowed over a given period (I tested this in France where I was allowed 3 free withdrawals, but the ATM only let me take 150 € lollll), not to mention the daily hassle of finding a working ATM while on vacation and avoiding being spotted every time you withdraw by those who target tourists. How many girls I’ve traveled with spent their time searching for working ATMs or had their cards declined lollll. But if you can tell me why they won’t name their card here, I’m all ears 😄

Paris: two men arrested, one with 10 € million worth of jewelry in his underwear - Le Parisien

The "Manondugard" technique—no credit card, everything in your underwear... All this just to avoid using an ATM...

Some logical dogmas...😛

But if some prefer to live in a parallel world, that’s their choice.

A money belt, for sure...

I’m chiming in for my part. I have a card with Fortuneo (the Gold MasterCard). Why Gold? Because it offers better insurance coverage (car rentals, for example). My card is completely free, and Fortuneo even gives you 100 € when you open an account (or more now, after 3 months). There are no withdrawal fees abroad, no matter where you go, and no fees when you pay with your card—no matter how many times you use it. The only restriction is that you need to use your card at least 3 or 4 times a month, even for small withdrawals or payments.

Logical dogmas... :P If some prefer to live in a parallel world, that’s their choice.

Having been a teacher as part of my job, I think I’m qualified to say and stand by this with confidence.

Logic and science are based on postulates, on dogmas. Not sure that’s really the topic of this conversation, though.

Michel

This discussion is going off in all directions with a lot of repetition because some people don’t bother reading the thread of replies or following a link.

So...

Well... You're only doing science if you accept at least two things without question: there's a truth, and it's worth looking for. You don’t prove classic logical postulates, like non-contradiction or the law of excluded middle, for example. If you want, we can have a laugh with axioms—those of Euclidean geometry, or those of other geometries that are no less valid. Riemann, Lobachevsky...

Science and logic are only possible if we accept postulates and dogmas.

Michel

I’m answering from my personal experience. I have a card with Fortuneo (the MasterCard Gold). Why Gold? Because it offers better insurance coverage (car rental, for example). My card is completely free, and Fortuneo even gives you 100 € (or more now) when you open an account (or rather, 3 months after opening it). There are no withdrawal fees abroad, no matter where you go, and no fees when you pay with your card, no matter how many times you use it. The only restriction is that you must use your card at least 3 or 4 times a month, even for small withdrawals or payments.

Thanks a lot! I can finally investigate this fairly—it’s not about being right or wrong, but about exchanging ideas, clarifying things, and maybe even changing my mind and admitting it. That said, it confirms my observation that most travelers who use cards tend to stick to touristy places and not venture much elsewhere in the world, where showing a card might get you a "What’s that?" reaction. I recently remembered Cairo, where my friends, accompanied by a guide, explored the touristy souks, while I went solo to the souks of the "real" people (where credit cards don’t exist). Same in rural Caribbean Colombia—everything is paid in cash, and the only ATM had a line of 300 people with a wait of at least 2 hours. 😅 But you can’t deny that with your card, most ATMs abroad take a percentage for their owners, who are usually banks, so it’s not 100% free. Plus, you have to make the effort to find ATMs, deal with the travel time, and when you’re on vacation, that feels like a hassle (at least to me). And paying for drinks with a card means missing out on discounts—I personally take advantage of cash deals that also help out merchants, since they pay a percentage on card payments.

Verifiable or logical principles, not some absurd scenario.

Something that makes sense and is well-documented.

Paris: two men arrested, one with 10 € million worth of jewelry in his underwear - Le Parisien

The "Manondugard" technique—no credit card, everything in your underwear... All that just to avoid using an ATM...

Or simply to avoid paying like a sucker just to access my own money (which isn’t your case) 😄

Verifiable or logical dogmas, not some senseless scenario.

Something that holds up, that’s documented.

"documented" is a word that doesn’t sit right in your mouth (we’re still waiting for your verifiable dogma, by the way) 😄😄

Verifiable dogmas or logical scenarios, not some absurd story.

There’s no verifiable dogma.

Something that holds up, that’s documented.

The logic holds up—that’s how you recognize it. It’s not documented—that’s also how you recognize it.

Michel

When you exchange money, you’re paying a fee just to get your own cash back in another currency (or getting ripped off, like you recently did). Total sucker move, and then some.

Not to mention that walking around with loads of cash means spending all your time paranoid about getting it stolen.

Anyway, do whatever works for you.

My high school and college years feel like a distant memory. I just realized I was starting my final year in "terminale C" 40 years ago...

What’s left from that time is a logical, Cartesian mindset—nothing groundbreaking, but enough to know that in most cases, withdrawing money with a debit card is the most economical way to spend abroad.😉

In some cases, the card will be slightly more expensive due to withdrawal fees charged by foreign banks, but ten or twenty euros over an entire trip is nothing.

In some countries, the card will be of little use (or even useless) because the country is outside Western banking networks or doesn’t have a well-developed ATM system.

Finally, physical cards are increasingly becoming a relic. Smartphone payments are taking over now.

That said, I’m still skeptical about that last point—you need electricity to recharge the thing and a network connection.

With a card, all you have to do is dig out the old card slider... (Those over 45 or even 50 will get it)