HereWeGoAgain: February 2015

The most important currency you should carry to Europe is a credit card equipped with a pin and chip. Notice I wrote "pin and chip." I find travelers are learning they need a "chip" and applying for a card with one, or have noticed a replacement card has a "chip." This is easily identified by the gold or silver holographic icon on the front of the card. But, to make this card work overseas, you must also have the pin for use not only in an ATM for currency, but at any location it is used. Typically in a restaurant or store, a small handheld device will be handed to you for input of your pin. And it's very important that the number you select NOT begin with a zero for use in Europe.

Sometimes this PIN comes in the mail shortly after you have received the account. It's a random 4 digit number which makes it easy to forget. I admit, I've forgotten mine already. Other times you will get the card, but need to apply for the chip. We are all so familiar (and spoiled) with the ability of instant access that it is easy not to realize the "PIN" process isn't an instant resolve, but requires mailing of the new or first PIN to your home or billing address from the card issuer. So allow time, in fact, do it now for your upcoming travels.

It's 73 days until we meet again..... in Budapest!

Taking along local currency:

It's much easier these days to obtain the local currency for those times when a credit card is not accepted either because the establishment is an all-cash one, or the transaction amount is small.

I recently visited Bank of America to find a long line awaiting teller services. The lobby receptionist told me purchasing currency can now be done online and sent directly to my home within 1-3 days* (*small FedEx mailing fee of $7.50 whether to your home or bank branch). Wow, that beats the 1-2 week wait of just a few years ago. If you happen to purchase $1000 or more, there apparently is no fee. And now the smallest amount for foreign currency is only $25 per type, so it's convenient to have some pocket change for Hungary and Czech Republic before hitting the ground in Eastern Europe. Of course the banks still make a bit of a profit on the exchange, so a "no transaction fee" credit card is still the way to go on most purchases.

I looked at the XE.COM website to view each of the currencies' exchange history for Hungary, Austria, and Czech Republic. Because I like to prepare in advance, I decided a few cents better rate wasn't worth the wait. You have to decide what makes you feel comfortable as to amount you desire, and when you wish to purchase.

I couldn't immediately find the link I wanted on the BofA website, but putting "Currency Exchange" in the search box gave me choices for ordering foreign currency. And I was pleased to see a link for each currency with an option to print out a handy conversion wallet card (although you may wish to use a cell phone app for the same info). I'll scan these reference cards and send via email in case you want to use them as well.

Please be sure to check with your bank to see what their policies and procedures may be, as this information is presented from my personal experience with Bank of America.

Since I'll be in Hungary before any of you, I splurged and bought 10,000 Forint....okay, so that's only $39.90. And I bought 800 Koruna for the Czech Republic which converts to $35.47. Of course, Austria uses the Euro, and I purchased more Euro since I will also use it for my one day in Paris en route, plus I anticipate it will be more easily convertible than the dollar should I need more cash in the other countries.

Even though the Euro is used in Austria, be aware cash is still the preferred method of payment in Vienna.