The best bang for your buck abroad

Trade your dollars for euros without the fees that can turn your bills into change.

By Carolyn Bigda, Money Magazine writer-reporter

(Money Magazine) -- With today's weak dollar, you need all the help you can get when traveling abroad. Here are a few tips on how to squeeze that last euro out of your greenback.

Put it on plastic

Your best best is to use a credit or debit card. A typical cost of €1 after fees is $1.35 to $1.39 You generally get the wholesale exchange rate, which is the best conversion available. (Recently one euro went for $1.35.) Fees tend to be 3 percent or less.

Star players are Capital One and Discover. Both are free of exchange fees.

Hit the ATM

Your next best bet is to get cash from the ATM. A typical cost of €1 after fees is $1.40. Again, you get the wholesale rate, with minimal fees - 1 percent to 3 percent, often in addition to a flat charge of $1 to $5 per withdrawal.

Check ahead to see whether your bank has affiliates at your destination; you'll pay less on those machines.

Star players are Citibank because it charges no fees at its ATMs abroad; Bank of America charges no fees at some affiliated ATMs.

Do leave home without them

Warning: Leave your traveler's checks and prepaid cards at home A typical cost of €1 after fees is $1.45 and up. The exchange rate on traveler's checks is 6 percent to 10 percent over wholesale; up-front fees can hit 1.5 percent. Most merchants no longer take them, so you may pay even more charges to cash them at a currency exchange.

Prepaid cards cost $5 to $15, and the exchange rate is wholesale plus 2 percent to 7 percent. They aren't always accepted, and you'll pay to use them at the ATM. Top of page

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.