Questions on currency use in UK and Sweden

[jackrabbit000]

Hi, We're going to the UK and Sweden in July and we have a bunch of Euros at home. Does anyone know if this is OK to take this with us or should we exchange it for Pound Sterling and Swedish Krona before we leave? What about the American Express card, does anyone take it over there or is it just basically Visa and Mastercard? Finally, can you use the TD bank card over there to take money out of my bank account, I'm guessing they must use the Plus system over there also. Thanks in advance.

[D582]

1. While some places in the UK and Sweden may choose to accept Euros (at whatever rate they choose), since its not the official currency of those countries, they are under no obligation to and you are better off using their local currencies. (Similar to how some places in Canada accept US dollars). I would think you would get better rates exchanging once you get there

2. Amex is accepted, but Visa and MasterCard are more widespread worldwide, so I would bring at least one Visa or MC as well. Also, the UK is very much into Chip and PIN cards and some places may give you a hard time or refuse to accept your card if its non-chip (they are supposed to accept it, but many will not). Also, some automated machines (i.e. transit ticket vending machines, parking machines) are chip card only.

3. Yes, your TD card will work there via Plus. Keep in mind on most accounts TD charges something like $5.00 per Plus withdrawal, so you may be better off using CC instead.

[jackrabbit000]

Thanks D582, you've been a great help. Only problem is that none of my cards are chip & pin. I guess TD is still in the stone age as far as chip & pin technology goes.

[bob_blah]

The Chip&Pin bit is only important if you are purchasing with a debit card from a retailer. If you the card in an ATM, it won't be an issue. If you are using a credit card, then there shouldn't be any problems about you just signing for it.

As for using Euros in the UK, basically Heathrow airport and some of the ultra-touristy shops (think Harrods) will be about the only places that will accept euros. There is still a lot of nationalistic pride in the UK regarding their currency, and if you try to pay with euros in a pub (unless there is a sign saying that they are accepted) you are likely to be looked on with a great deal of disdain.

Not sure on the Kroner, but you are likely to get a better deal changing a big wad of notes once and taking the hit on the commission than trying getting done over every time you use them to purchase.

[D582]

The Chip&Pin bit is only important if you are purchasing with a debit card from a retailer. If you the card in an ATM, it won't be an issue. If you are using a credit card, then there shouldn't be any problems about you just signing for it.

Actually it is becoming a bit of a problem more recently, especially in the UK. I have two friends that just got back from the UK. The one who had a chip card had no problems, but the one that did not had issues in some places. ATMs, yes there should not be a problem, but purchasing at a shop with a credit card can become problematic. Many places see a card a without a chip and instantly think its fradulent and refuse to accept it. It's not a matter of signing vs. PIN number (as chip and signature cards exist), but rather mag stripe vs chip. International Visa/MC rules require that card issued out of country be accepted, even if not chip enabled in face-to-face transaction settings. But many UK retailers misinterpret their domestic rules of not being allowed to accept UK-issued cards w/o chip to apply to all cards. They are scared about fraud and chargebacks. Places that cater to tourists should accept your mag stripe card no problem, but other places may give you a hassle, or may not even have the hardware anymore to even swipe cards.

[jackrabbit000]

I called the bank today and they said that they have it on record that I called them in May and notified them that I will be travelling to the UK in July. They said that the person who took the call should have issued me a new Visa card with a chip & pin on it. But, now it's too late, they said that there is no way they can get one to me on time before I leave in 10 days. I also asked the question about my bank access card and they told me that my 5 digit pin won't work over there and that I need to go to the bank and change my pin code to 4 digits. Gee whiz what else? It seems like everyone I talk to at work has chip & pin cards issued to them already and not one of them bank at the TD except me. TD said that they issue Visa chip & pin cards to their clients when their existing card expires, for me it would be 06/2012, what's with that. I find it very strange that the TD doesn't notify anyone that they might need an new chip & pin card for travelling in the UK, Europe or any other place that has converted the the new technology.

[mkjr]

i have used a non chip Visa in the UK recently at several stores and had no issues...funny but when it gets scanned, it knows to print up a signature line...staff at Harrod's were very surprised at this...they told me it would not work...they looked like bafoons since my buddy has been living in London for years with a non chip visa with no issues even at Harrod's also...i also even had the option to have it billed in CDN$...never seen that before...

with respect to Sweden, back in the late 90s, i lived in Sweden...had no problem using non-chip Amex and Visa...cards for most Swedish banks at the time had pins and some had chips...not sure now if there are issues....at least in Sweden, cards said visa but they were really not credit cards...