Wife and daughter are going on a school trip to Europe for 2 weeks this spring. Will send them with a couple different credit cards that have no foreign transaction fees. What is the easiest way for them to get some spending cash for places that don't accept CC though? I know ATMs are available but don't they have crazy fees/exchange rates? Trying to keep it as simple as possible for them.

You can get CC that have no foreign transaction fees and have no withdrawl fees or that reimburse you if there is a withdrawl fee. And if there is a withdrawl fee it usually isn't enough to worry about.

Agree on the credit card. I get cash out at airport or train stations. Do NOT get them on random streets, etc, those are often bugged. I use card for everything I can. Do not go up to one of the booths at the airport, especially stateside. It is a total ripoff.

Most ATMs don't have "crazy" fees or exchange rates. There was a time when fees were maybe $3-$5 per transaction (and some banks would refund the fees, depending on the details of your account).

The last few times were traveled there, I noticed most ATMs are charging a percentage fee of 3-5% per transaction. Annoying, but not a huge deal.

It's not always obvious which of the machines/banks charge the fee on a percentage basis. As a general rule, I try to use ATMs that are located inside of banks (as opposed to a random street corner).

Most restaurants and shops will take credit cards. Tour operators will likely prefer cash, unless you booked in advance online. Most tour guides do not expect tips, but it is nice to have some cash for that, if you want to tip.

One other thing we've noticed the last couple of trips - small hotels and Airbnbs are sometimes subject to local occupancy taxes. They are not more than a few $ per person, but you often have to pay them in cash before or when you check out. Any decent hotel or host should notify you about this at check in so you have time to get the cash before checking out.

Other than that, you can likely make it through the entire trip using no cash at all.

TXTransplant said:

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Most ATMs don't have "crazy" fees or exchange rates. There was a time when fees were maybe $3-$5 per transaction (and some banks would refund the fees, depending on the details of your account).

The last few times were traveled there, I noticed most ATMs are charging a percentage fee of 3-5% per transaction. Annoying, but not a huge deal.

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For Euro and Pound denominations this is accurate, but if you are going into the non-Eurozone countries in the EU those fees get to be more like 20% at the ATM's for withdrawals on cards not in local currency so just beware on that because then it dos become a big deal.

Also agreed in the cities and such on credit cards being easy to use. This dwindles fast in Europe though the further you get from cities.

Your bank may have foreign currency at the branch. It is getting harder to find, though. The last time I went to Wells Fargo, they said typically you need to order it ahead of time and pick up at the branch. But, they happened to have a few hundred bucks worth of what I needed from someone who exchanged for some dollars earlier that day. Could call a few branches and ask.

Travelers Cheques may also still be a thing. I don't think I've used them in 15+ years, but I believe they still exist and may be a cheaper option than doing a currency exchange at the destination airport. If you want cash on hand when you arrive (perhaps for a taxi if Uber isn't available), then this may not work for you. I'd probably call some local banks or maybe even see if any neighbors have some currency laying around you can buy off them, presuming you want Euros, Pesos, or something common.

I go to Europe every 6 weeks for work and have never taken any local cash. In my experience everywhere takes credit cards. I get lunch from street vendors and they take them. On the tube in London you can just tap your card on the entry.

I'm not saying don't send them with any but I wouldn't worry about it too much and whatever you send is more as a backup. For me I always considered hitting an ATM as backup but to date have never had to.

I feel like Europe is more CC friendly than even the US.

Caveat - Im traveling in Western Europe so Eastern Europe may be different.

We just got back from 10 days in Spain last weekend and used cash a total of 0 times. We even went to a flea market in Madrid and a gazillion small shops, stores, and restaurants. Europe is 5+ years ahead of us in terms of payment/point of sale transactions. I had 5 euros leftover from a previous trip and still have it.

If you absolutely need cash just use an ATM once you get there and get as much as you think you'll need for the whole trip. The fees are not crazy and the exchange rate is much, much better than you'd get anywhere else.

ATM machines in country

I took solace knowing the world's oldest profession is always seeking applicants.

Then I looked in the mirror and resigned myself to pulling cash from an ATM at the airport.

Agree that you don't need cash in Western Europe as they are years more sophisticated than the US. In Eastern Europe and Middle East occasionally you will find a taxi that will only take cash, but 99.9% of vendors take CC.

Go to your banks website and see what they say. I found this quickly at looking at my Bank of America:

Use your Bank of America ATM or debit card at one of our International partner ATMs and avoid the non-Bank of America ATM $5 usage fee for each withdrawal, transfer or balance inquiryFootnote 1 as well as the ATM operator access fee.

Barclays United Kingdom (England, Scotland, Wales, Northern Ireland, Jersey, Guernsey and the Channel Islands)
BNP Paribas (France)
BNL D'Italia (Italy)
Deutsche Bank (Germany and Spain)
UkrSibbank (Ukraine)
TEB (Turkey)
Scotiabank (Canada, Mexico, Peru, Chile, and the Caribbean countries: The Bahamas, Barbados, Cayman Islands, Dominican Republic, Jamaica, Trinidad & Tobago, and Turks & Caicos Islands)
Westpac Bank (Australia and New Zealand)
China Construction Bank (Mainland China, excluding Hong Kong)

We just got back from Italy and Greece. We used about $300 in Euro's over two weeks but frankly, probably could have gotten by with way less, maybe even $100. Was no different than here, CC's are pretty much universal.

We used an ATM once and it was very reasonable.

Everyone said go to your local bank... ours is a credit union and they didn't go any foreign exchange but they told us a bank in town that did, but we didn't get it done.

We spent 3 weeks traveling thru Italy a few years ago & this year we were in Turkey & Greece. We also used cc but I also set up an account at Charles Schwab. They reimburse all ATM fees anywhere in the world. I did withdraw some cash about once a week because we def were at places that don't take cc. I used only ATM machines at a bank.

Open a Charles Schwab checking account. They reimburse ATM fees.

I go somewhere in Europe at least once a year. I order cash for my destination(s) ahead of time through my bank (Bank of America). Depending on your bank and the relationship you have with them, there will likely be no fee at all for this. I do it all online through the bank and it's delivered to my house within a couple of days. Sure, most places in Europe accept credit cards, but it's better to be safe than sorry.

I imagine your wife and daughter are headed to western Europe and will probably stay in the cities, so the other posters on this thread are right when they say just about everywhere they go should accept credit cards.

But if they get off the beaten path, especially in eastern Europe or out of the eurozone, that is not necessarily the case.

I have gotten foreign currency for many different countries from our bank. I have always had to order it.
Guarantee bank, then compass.

Get a Charles Schwab checking account. No foreign transaction fees (big deal) but they refund all ATM fees worldwide. Minimal exchange rate margin. You don't have to invest to get the checking account but they do open a brokerage account when you open the checking.