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Dutch Money
The currency used in the Netherlands is the Euro ...... Euros are divided into 100 cents. There are coins of 1, 2, 5, 10, 20 and 50 cents, and 1 and 2 euros. There are notes of 5, 10, 20, 50, 100, 200 and 500 euros. Please note that some shops do not accept large denomination notes.The Dutch Guilder is no longer usable, and no longer can be exchanged for Euro.We find it easy to use as there is 100 euro cents to 1 Euro.As of Feb. 2006., there was 1.25 Euro to the US dollar.There are many places to change money in town. Post Offices usually give the best rates. The GWK at Central station is also good. Compare rates carefully at the exchange offices in town. Hotels are usually an expensive way to change money. Banks can be slow. There's an American Express on the Damrak, and a Thomas Cook on the Dam.Credit cards are not as widely accepted in the Netherlands as in many other lands, but it's getting steadily better. Always enquire first if you intend to pay by credit card.If you have an ATM card. a card for getting money out of a machine in the wall, it will most likely work in the Netherlands, so you don't need to take traveller's cheques. Check with your bank before leaving though. Such cards, certainly if they have a Maestro logo on them, can often also be used for direct debit payments in shops, shops that display the blue "PIN" sign.Like in all big cities the world round, there are cheats looking for an easy target. A typical trick in less reputable establishments is, if you pay with a note, to give you change as if you tendered a note of one denomination smaller. For instance to give you change for 50 euros if you give them a 100 euro note, and then pretend it was a mistake if you notice. The best way to avoid this happening is to speak the value of the note as you hand it over, "100 euros", so they can't claim not to have noticed ......
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Dutch Money
karrensmt:
... A typical trick in less reputable establishments is, if you pay with a note, to give you change as if you tendered a note of one denomination smaller. For instance to give you change for 50 euros if you give them a 100 euro note, and then pretend it was a mistake if you notice. The best way to avoid this happening is to speak the value of the note as you hand it over, "100 euros", so they can't claim not to have noticed ...... They can't?? They can still claim they hadn't noticed. They can claim to have 'overheard' you saying so They can claim the missing 50 euro bill is for "tourist taxes". They can claim they gave you proper change, and you made the missing note disappear. They can claim that they will handle your objection tomorrow, because they're closed now. |
Dutch Money
On Wed, 19 Jan 2011 12:31:38 +0100, Martin wrote:
Some ATMs charge for use. Avoid them. In general, ATM exchange rates are so close to the interbank rate that they make using something like For-Ex absurd. But, although some banks do charge a fee for withdrawals from machines that aren't theirs (just as they do back in the USA), the fees charged are small enough that they are still worthwhile in comparison to converting money. Even if the fee is US $3.00 per withdrawal, that's only one percent on a $300 withdrawal. I've not run across an ATM that charges for withdrawals in either Europe or Mexico, only my own card-issuing bank, at least in the past. It's easy to tell. If the fee on your statement works out in an even dollar amount it's your US bank making the charge. There has been a tendency in the last decade for some US banks to tack on an extra percent or two to the exchange rate used; as far as I'm concerned, that's tantamount to theft since to the bank there is no real difference between a withdrawal made in Europe and one made in the USA (where there is no exchange rate); the ATM system does all the work of calculating the exchange rate and the bank simply gets a debit. [***] You forget to mention avoiding pickpockets and the wide spread skimming on ATM machines. It's not all that widespread, but it's suggested that you not use ATMs in places like fast food shops; only use ATMs at the bank. By means of my own stupidity I did have my wallet lifted once in a Paris Metro station. -- Dave Hatunen, Tucson, Arizona, out where the cacti grow |
Dutch Money
23.1.2011 3:56, David Hatunen kirjoitti:
On Wed, 19 Jan 2011 12:31:38 +0100, Martin wrote: Some ATMs charge for use. Avoid them. In general, ATM exchange rates are so close to the interbank rate that they make using something like For-Ex absurd. But, although some banks do charge a fee for withdrawals from machines that aren't theirs (just as they do back in the USA), the fees charged are small enough that they are still worthwhile in comparison to converting money. Even if the fee is US $3.00 per withdrawal, that's only one percent on a $300 withdrawal. Quite reasonable a margin. However, many Finnish banks are very greedy when their customers withdraw money outside the Euro-region balancing their own banking accounts. For instance Nordea Bank (more Swedish than Finnish) has charged by a formula like 2,5 euros + 2%. It is impossible to explain such a whoppy margin by hefty expenses to the bank because there isn't any. The EU regulates euro withdrawals and hence the Finnish banks must keep their sticky fingers away. Heh heh. I used to secure my cash money abroad by TCs when it was practical. Nowadays plastic has taken their place and I may have some TCs for a modest back-up. |
Dutch Money
Markku Grönroos wrote:
I used to secure my cash money abroad by TCs when it was practical. Nowadays plastic has taken their place and I may have some TCs for a modest back-up. Where can you cash them nowadays? -- Erilar, biblioholic medievalist with iPad |
Dutch Money
23.1.2011 17:39, Erilar kirjoitti:
Markku wrote: I used to secure my cash money abroad by TCs when it was practical. Nowadays plastic has taken their place and I may have some TCs for a modest back-up. Where can you cash them nowadays? For instance in many parts of South East Asia - particularly in Thailand - it is still easy. In many parts of Europe. And I assume in North America even many shops accept them. Last March I sold them in Mexico easily. Panama was different. None of the banks I visited in the second largest town of David bought them. In the capital city a Scotiabank branch bought them. It was pretty time consuming. |
Dutch Money
On Sun, 23 Jan 2011 23:06:04 +0100, Martin wrote in post :
: I used to secure my cash money abroad by TCs when it was practical. Nowadays plastic has taken their place and I may have some TCs for a modest back-up. Where can you cash them nowadays? That's what makes them so secure :-) lol! Clear thinking! -- Tim C. You know what's a dangerous insect? The Hepatitis B |
Dutch Money
On Sun, 23 Jan 2011 10:38:46 +0100, Martin wrote:
On Sun, 23 Jan 2011 01:56:57 +0000 (UTC), David Hatunen wrote: On Wed, 19 Jan 2011 12:31:38 +0100, Martin wrote: Some ATMs charge for use. Avoid them. In general, ATM exchange rates are so close to the interbank rate that they make using something like For-Ex absurd. But, although some banks do charge a fee for withdrawals from machines that aren't theirs (just as they do back in the USA), the fees charged are small enough that they are still worthwhile in comparison to converting money. Even if the fee is US $3.00 per withdrawal, that's only one percent on a $300 withdrawal. Try EUR 2.50 or more. American card issuers don't charge fees in euros. There are ATM card issuers that don't charge a fee at all for foreign withdrawals but they are becoming rare. I've not run across an ATM that charges for withdrawals in either Europe or Mexico, I live in The Netherlands maybe my warning and experience is more relevant. It seems to be a matter of having a US-issued card. I have no idea about intra-European usage. You don't have to use an ATM that charges in NL, there are plenty of bank ATMs that don't charge extra to use them. A place where you will find ATMs that charge are McDs. Yep. Hence my warning about only using bank ATMs. -- Dave Hatunen, Tucson, Arizona, out where the cacti grow |
Dutch Money
On Mon, 24 Jan 2011 19:53:02 +0000 (UTC), David Hatunen
wrote: American card issuers don't charge fees in euros. There are ATM card issuers that don't charge a fee at all for foreign withdrawals but they are becoming rare. Can you mention which ATM issuers don't charge a fee for foreign withdrawals? Thanks. -- Ken Blake |
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