Conference turris::scandia

    If I could reliably predict currency exchange rates, I wouldn't
    be working for DEC...
    
    You can exchange any Western European currency and US$ into any
    other anywhere in Western Europe. However, I would not recommend
    e.g. exhanging US$ for Danish kroner in Germany - you will in fact
    be doing a US$ -> DM -> Dkr conversion and paying double commission.
    
    So try to avoid double conversions - get your Dkr in Denmark (if
    you cannot/don't want to get them in US). US$ traveler checks might
    be a good idea. Credit cards give a somewhat better rate also than
    cash exchanges and are widely accepted in Europe (I'd assume the
    best one for Denmark would be MasterCard).
    
    Of course, if you want to start speculating, you might buy DM or
    SFr *now* - all 'experts' seem to belive the US$ will continue
    dropping. But if it doesn't, don't blame me... (see 1st sentence).
    
    

The US dollar fell to a low 5.50FF in Paris, yesterday. The current trend
is downwards. I would not be surprised if it has fallen another 5-10% by
this summer. Some people have pointed out that it might fall below 5.00FF
before the US presidential election ..

BTW, the US dollar was noted at about 10FF three years ago. This was an
unusually high value. But still, 50% drop in three years is significant.

It might be a good idea to buy travellers checks now.

>Per

    [From and entry in Group soc.culture.nordic:]
    
    [Currency exchange booths, where available in the larger U.S. city
    airports like San Francisco, are not open on Sundays and don't] give
    good exchange rates! For this reason, I change my kroner and kronor
    back into dollars before I leave Scandinavia to come back to the U.S. 
    The airport bank branch offices at Kastrup (Copenhagen) and Fornebu
    (Norway) are my favorite, but the exchange booth at Arlanda (Stockholm)
    is pretty good.

    You can probably get better rates in town at a bank, but THEY aren't
    open on Sundays either!  Remember, though, that they don't give out
    U.S. coins, although they take Scandinavian coins.  It seems all those
    coins you give them that total less than a dollar just become your
    "going away gift" to them.  Find out how many less kroner/kroner you
    can give them and still get back the same amount of dollars, and save
    them for your next trip.  By the way, the best exchange rates I found
    in Norway (at least in Oslo) were at the Post Office.                       

I know this an old topic but I wanted to give my ogic on the matter.

If you are going to be elsewhere in Europe before you get to Scandinavia you
may want to see what the rules are where you and maybe change before you get
to Scandinavia.  It is my understanding that changing cash in Scandinavia makes 
a service charge be made.  In Germany, this is not true.  There is no service
charge at any place I've changed cash in Germany (Post, many different banks,
etc).  At least in Germany you get a higher exchange rate for travellers checks
but there is a service charge, but usually if you change more than a few hundred
dollars (depending on current exchange rate the border is $200-$400) still
gets you more with checks even with the service charge.  Anyway, if you change
all at once you usually win because the service charges are usually fixed or
grow with the amount changed but at a lesser rate.

Anyway, changing DM for example to xkr in Germany with no service charge is
probably a win situation over changing in Scandinavia with a service charge.
I don't know other European countries customs/rules about cash changing and 
service charges so this strategy might only be valid with Germany --> Scand.
My rates I got in Germany were as good as I would have gotten in Scand. at
the places I checked (which were not that many).

chad

    I don't know how much the service charge in Scandinavia is nowadays,
    but I don't think changing outside Scandinavia gives you much, because
    as I said earlier, you end up doing a double conversion.
    
    Note that a possible commission is not the only cost in changing (how
    do you think German banks survive without it?). There's a significant
    difference between the official rate (used for e.g. bank transfers) and
    the rate you get for cash. E.g. for US dollars (cash, yesterday's rates in
    Munich you'd get DM 1.61; buying US cash costs you DM 1.72 per dollar.
    The corresponding DM rates for e.g. Swedish crowns are 26.70/28.50.
    Changing cash dollars to cash crowns in Munich would give you about
    5.65 crowns per dollar.
    
    You get very close to the official rate for traveler's cheques, but
    as you mentioned, there's a commission; besides, doing that outside
    Scandinavia will couse the second conversion to happen at the cash
    rate.
    

    The service charge is around 15 *kr.
    
    Svend
                                     

    How much is the cash rate for US$ -> Skr?
    
    Just curious.
    

    Hello,
    
    I thought this is a good place to ask.
    
    Do you have 'LINK' in Scandanvia so I can use the hole in the wall from
    a bank to take out money (comes out of my UK � account) ? 
    
    LINK in England is used by all the building societys for use of anyone
    who has an accound in a building society that subscribes to the system
    (most).
    
    If you do have this, how widespread should I expect to find it? 
    
    I ask as I know that the scheme does operate in the States and is
    a very good and competative way of exchanging money. 
    
    

I do know that most of not all ATM's give cash with a VISA (probably also 
Eurocard/Mastercard) in Finland (and other Nordic countries), but I don't
know it they're linked to 'LINK' (whatever it is, where ever it is).

...petri

    Hello Petri,
    
    Thanks for the answer. I have since asked in my building society 
    and they say that I can't use LINK in Scandanavia.
    
    As I have a Mastercard, but no pin number, I can get money that way
    from a bank. So, at the moment I deciding how much money to bring from
    here, and how much to convert on arrival.
    
    Do you have any idea on what/if a bank charges for giving money
    if I present my Mastercard? 
    
    Also, as petrol will be my main expense, can I purchase this using a 
    Mastercard? 
    
    Thanks
    
    Malcolm 

    You can pay for petrol in Finland by Mastercard, no problem.
    
    How expensive cash advances are, depends mostly on the bank which
    issued your card - I don't think the bank actually handing out the cash
    charges anything (or not much) - though, in Finland, the banks seem to
    charge you for saying 'good afternoon'.. :-)
    
    The better alternative for Finland would be using Eurocheques - the
    charge is (I think) ~1.5% (charged at your end). You can cash them at
    any bank (and pay directly in some shops).
    

    Hello,
    
    I had a very good holiday and stayed in Norway, Sweden and Denmark.
    Before I went away I payed a large amount of money into my credit 
    card account in anticipation of all outstanding bills and a buffer for 
    money I might need when there. 
    
    I withdrew money in Norway and this was deducted from my credit card
    with no charges (at the credit card conversion rate).
    
    I would recommend this method to other people. The advantages are:
    
    - no commissions on changing money 
    
    - good exchange rate
    
    - you get the money when you need it (no need to carry it around the
      whole trip) 
    
    - when you know how much things cost, and see how much you are
      spending, you can take out the appropriate amount
    
    I'm sure this service is offered as most people who use it will
    effectively be taking out a loan until they get back from holiday 
    and can pay it off. This is where the banks make the real money! 
    
    With petrol stations I payed credit card in some and cash in others. 
    Not all accept credit card.
    
    Malcolm