Amsterdam Travel Forum

Hello all- I am wondering where the best ( closest, rates, safety ) place to change money is near Central Station would be. Appreciate any/all replies! Thanks

There is a GWK at Central Station:

http://www.travelex.com/nl/

Cheers
Dennis

BTW, it often is cheaper to use the ATM machine than to change money

Thanks for the replies, I have heard that ATM's give better rates, but worry that a mishap with the card would leave me stranded. Does anyone know how the rates compare between changing money there or using the ATMs? Thank you!

ATM's typically give you the interbank rate. Whereas the rate will probably be less favorable at an exchange counter, before they tack on the fees.

I use Oanda.com to keep up with the rates. On the left side of the page, click FXConverter to pull up the conversion tool. Choose your currencies and then in the dropdown menu you'll see a choice for interbank rate, the typical credit card rate and the typical cash rate. For example as of 22/4/08, the interbank rate for Euros to USD per oanda.com was 1euro=1.59309USD. But Travelex quoted 1euro=1.73062USD to buy currency online. It's my understanding that they give a better rate to online purchases, so if that is their online rate, imagine how bad it will be in the retail outlet!!

The bank that owns the ATM you're using may still charge a fee as may your own bank at home. Check with them to find out what the fees are for foreign withdrawals.

FWIW, I've never had a problem with foreign ATM's eating my card if that is what you're worried about. But I usually try to find a Citibank or some other large bank whenever possible. It's also always wise to call your bank before you leave to warn them there will be foreign activity in your account so they won't lock it.

Thank you so much for your answers and for taking the time to clarify the rate difference for me, your answers were extremely helpful!