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Re: Money Exchange
Posted: 2005-04-04, 6:46 pm

tja0422
Posts: 28
Location: Detroit Mi
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When we went last year, we just used the ATM's with out debit cards and we were not charged any extra, our bank in the states just did the currency exchange and no additional fees, If I remember correctly there wasn't even an ATM charge .
Re: Money Exchange
Posted: 2005-04-05, 3:15 am

oidar
Posts: 61
Location: Charlotte NC
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I have some the same questions? Is there a limit of the amount you can get changed at the airport booths? Or where is the best place to get upwards of 10,000 US dollars changed.
Phew!
Posted: 2005-04-05, 9:39 am

CalicoJack
Posts: 87
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Quote:
10,000 US dollars


Now that's going to be a good weekend!
Re: Money Exchange
Posted: 2005-04-05, 5:17 pm

a9g7dom
Posts: 153
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Get American Express travellers checks in dollars in the US. If you have an Amex card they are free, if you don't they will charge 1 percent service charge for the face amount. Then when you need euros just go to the Amex office on the damrak, a short walk from central station. I found this to be the best rate.
Re: Money Exchange
Posted: 2005-04-05, 5:18 pm

a9g7dom
Posts: 153
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Get American Express travellers checks in dollars in the US. If you have an Amex card they are free, if you don't they will charge 1 percent service charge for the face amount. Then when you need euros just go to the Amex office on the damrak, a short walk from central station. I found this to be the best rate.
Re: Money Exchange
Posted: 2005-04-06, 12:52 pm

dwj
Posts: 225
Location: Scotland
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I've always used the VVV to change money, there's plenty of offices dotted al over and I found there rates to be certainly among the best. I think that on places like the Damrak for instance there are far to many change places offering all sorts of amazing no commision rates but the odd occasion I've looked I've always found them to be at best no better than the VVV and more often a lot more expensive. With the VVV you're dealing with the Dutch Tourist Board which for me anyways offers a level of security and comfort that the little change booths manned by any manner of misfit on the Damrak can.

Dave
Re: Money Exchange
Posted: 2005-04-07, 7:28 am

a9g7dom
Posts: 153
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Avoid the change places in the damrak, they will charge a commission. The American Express damrak office will not charge to change their travellers checks.
Re: Money Exchange
Posted: 2005-04-07, 7:38 am

lovebiteSupporting Member
Supporting Member
Posts: 122
Location: Cloud 9, Lovers Ln, Paradise City, Planet Heaven
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Open a local bank account and do a inter-bank transfer. It will save you commission fee and get the best exchange rate. You can do an electronic transfer by your bank or use Paypal.

An alternate way is to get cash advance from your credit card, and pay off your cash advance immediately so you don’t have to pay the high interest. Again you can pay off the balance on the internet easily while you are away if you have that set up with your credit card company and your bank.

Do not trust any public internet café to do any online banking. Most of them have spyware, so even if you have a secure connection, it doesn’t mean that no one is not stealing your password with those spyware, which log all your keystrokes.

The only trusted computer is either your own laptop (with firewall turned on) or use EasyInternet café. EasyInternet completely erases everything after the user logs out, and reloads a fresh copy of the system everytime you log on. So there is no chance that any spyware can stay on the system. EasyInternet is a large company based in UK, so they have no interest in spying on you, unlike the mom-and-pop operations.

Note any cash excess of 10 grants are required to be reported to the IRS, and you are required to report the amount you carry, otherwise they are entitled to confiscate it if you don’t report it. It’s not so much of a problem going out since NL cares less about how much money you have, but coming back is when your big brother is so concerned about your money.

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Re: Money Exchange
Posted: 2005-04-08, 10:59 pm

Roland Power Kat
Posts: 556
Location: Amsterdam
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You can draw 750 euros a day on your card (assuming that you have a sufficient limit). I would NEVER carry 10 grand around nor would I spend that kind of money at Elegance. You would be better off going to a FKK club in Germany and spending 1/10th that for a time of a lifetime. My 2 cents. Regards. Roland
Re: Money Exchange
Posted: 2005-04-11, 5:05 am

paniked Power Kat
Posts: 1376
Location: Amsterdam
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Quote:
Open a local bank account and do a inter-bank transfer. It will save you commission fee and get the best exchange rate. You can do an electronic transfer by your bank or use Paypal.


I don't think it's possible for someone to open a Dutch bank account without having some proof of address/employment. maybe if you bank w/ ABN or ING in the States it's possible but, to be frank, I find the suggestion to be highly impractical.

-paniked

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"De kinderen fietsen naar school, zij roken dikke sigaren en slaan de leraren. Ja, dat is Amsterdam!"
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Re: Money Exchange
Posted: 2005-04-11, 6:52 am

Larry
Posts: 103
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For buying Euros with USD, I think GWK is as good as it gets. However last time I used them they had a limit of US $500 per transaction.

I'd be a little careful carrying huge amounts of money near Club Elegance. Bad guys know this and there have been armed robberies along N. Witsenkade, the street where Elegance is located. Phone them for their complimentary chauffer service for best safety.
Re: Money Exchange
Posted: 2005-04-17, 10:59 pm

lovebiteSupporting Member
Supporting Member
Posts: 122
Location: Cloud 9, Lovers Ln, Paradise City, Planet Heaven
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The per-day withdrawal limit is set by your own bank, not the ATM machine. So if you want to change the limit, ask your bank, and they will change it for you, because it is your own account anyway. They set the withdrawal limit to protect you just in case if someone hold you hostage, they can't empty out your account at the ATM.

Another way to do it is use multiple accounts. Since the limit is per-account basis, if you have multiple accounts, such as checking and savings, and/or open another account in another bank, then you would have higher limits. Besides, it is a safer way because you are not putting all the eggs in one basket if you happened to lose one of your ATM cards, and you wouldn't be left without cash.

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Re: Money Exchange
Posted: 2005-04-18, 3:16 am

oidar
Posts: 61
Location: Charlotte NC
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Kudos to Lovebite.

Multiple Checking accounts is an excellent idea. Im ashamed I never thought of that myself.
Re: Money Exchange
Posted: 2005-10-28, 12:10 am

curiious
Posts: 55
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Sad that many people believe their US banks didn't charge them a fee. Unlikely. Most US banks quietly charge 5% or so as does visa for example by doing your currency conversion "without a fee" but at an exchange ratio that is significantly tilted in their profit. Charging you $1.34/Euro when it's going for $1.22/Euro for example. Virtually every US bank does it, as does VISA,, MasterCard...

In Holland you cannot open a Bank account without a So-Fi number which requires a startling amount of paperwork and no short supply of patience... or you can go to the 100's of money exchange stores in amsterdam who make between 3 and 5% profit off each transaction because of their currency exchange ratios. They are for-profit institutions, after all.

... but it's easy to exchange cash from $ to CHF to Euro at any Swiss Kantonal Bank for the most favorable currency conversion ratios in Europe, less than 1% lost, without an account. With an account you wouldn't have to carry cash, you could just wire transfer money from any other bank account to the swiss account and then atm it out in holland at that day's currency exchange rate exactly, nothing lost as a fee or percent. No sense tipping your banker 5% of your vacation budget, right?
Re: Money Exchange
Posted: 2005-10-28, 3:46 pm

cupidstunt
Posts: 34
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Forget ATM's they will rape your bank account.

Go to TRAVELEX.COM and go to your national site, I guarantee you will get the best rates possible, and you can pick up your currency before u go, or when u arrive.

I have been 15+ times, and I would never use anything else.
Re: Money Exchange
Posted: 2005-10-28, 9:05 pm

ignatbandit
Posts: 120
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Well Travel have acquired GWK - does that mean they offer the same rates?
Re: Money Exchange
Posted: 2005-10-29, 12:05 am

oidar
Posts: 61
Location: Charlotte NC
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If you open a Crown Select Checking account at Wachovia they give commision free exchange rates.

This checking account requires you have a minimum of 10,000 dollars daily checking balance or at least 20,000 dollars in a Wachovia savings account or IRA. If not the checking account cost $25 dollars a month.

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Re: Money Exchange
Posted: 2005-10-29, 2:01 am

BoneJockeyPower Kat XXX
Power Kat XXX
Posts: 820
Location: New York, NY USA
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I always use the ATM's when in the Dam. My bank doesn't take more than about 2% on each transaction.
Re: Money Exchange
Posted: 2005-10-30, 11:56 pm

JohnnyGuilder
Posts: 28
Location: The Hub Of The Universe
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I've recently purchased amex traveler checks for my visit later this week. My question is does anyboby know if I will be charged a commission to cash these in at the amex office on the damrak?
Re: Money Exchange
Posted: 2005-11-03, 6:44 pm

clubted
Posts: 41
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Way at the end of Damrak on the right hand side is Potts currency exchange. No commission and the best exchange rates going. Amex office just before that also on the right hand side will cash your travelers cheques for you.
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