ATMs and exhange rates.

With 9 days left here in Michigan, 42º when I left for work, I am trying to wrap up a few loose ends for our trip down to Paradise. I am asking for some currency help. Getting confused on what is the best route to take with cash. Here are some facts: our credit/debit cards have a 3% foreign transaction fee, we have 0 atm fees if we use Scotia Bank.

Is it best to bring 1/2 the cash we were expecting to need and use the ATM? Does ScotiaBank in Sint Maarten dish out Euros or guilders? At what parity point between the dollar and the Euro does it stop making sense to pay a 3% fee.

Thanks all!
Oxy

The Scotia Bank will dispense EITHER Dollars or Guilders. You're given a choice when you make your withdrawal. Choose carefully! <img src="http://www.traveltalkonline.com/forums/images/graemlins/Grin.gif" alt="" />
Personally, I think it's a hassle to have to go to an ATM, so we try to bring the amount of cash we think we'll need. That being said, we have run out a few times, especially when the restaurants were offering better deals for cash. It's good to know that you have a backup source of cash.

IMO, it never makes sense to pay a 3% fee...there are plenty of credit cards out there that don't charge a foreign transaction fee...for cash, use an ATM on the Dutch side for USD, and an ATM on the French side for euros

Personally, I wouldn't use a credit card with foreign fees outside the USA but it's probably too late to get one without the fees. As USD is accepted on both sides and most restaurants in Grand Case are currently doing 1:1 with cash, I would just use USD on the island and withdraw as needed from Scotia Bank.

We never changed our money and never had a problem. Everyone takes dollars and we never saw anyone using Guilders anywhere. Many places on the French side had signs stating 1 to 1 dollars to Euros. The only place we had a problem was at French customs in Marigot, he wanted 5 Euros or $8.

We use our CC for purchases only. Bringing cash works but just be careful and leave it locked up someplace safe. I always bring just a small amount and put the rest of it in the bank and withdrawn when needed. Our ATM we use when needed and I never use euros. We figure on how much cash we would want to use for every couple of days and withdraw that way. The Scotia Bank, I find to be the best on island.

Credit mutual in hope estates dispenses dollars or euro with no fees. So if you take $300 out of the atm, they only take that out of your account. They will convert euros to dollars at the interbank rate and withdraw that from your account.

Exactly....that's what we do but we rarely use the CC (car rental and TS tax only)

Where is the Credit Mutual ATM in Hope Estates?

If, by chance, you have a Bank Of America debit/ATM card you can bypass the 3% fee at ScotiaBank ATM's. I seem to recall one near the casino in Maho and I use the one at the Westin on Dawn beach. Really saves on the amount of cash to bring.
As far as currency, use dollars. Readily accepted on dutch side and some French establishments give 1 -to- one. I have found that some of my cc's will charge a conversion fee not only on French side but on dutch side too. Not car rental but at grocery stores.

Thanks All for some good feedback. Follow up question:
When you bring cash, do you bring a "set" amount of $10's , $20's and $50's? Is it more convenient to have smaller denominations before we get there. Oh BTW 1 more week...yahoooo

We make sure we have a stack of $5's to tip the maid a daily 5'er. Other than that some singles, but mostly $20's for convenience.

If it helps at all, we generally bring the bulk of our cash in hundreds but we do generally have between us two to three hundred dollars in smaller bills, mostly twenties and tens with lots of fives - perhaps $50.00 worth? and perhaps about ten dollars worth of singles in the mix for tips at the various airports and such - bellmen, cab drivers, etc. Breaking hundreds is rarely a problem. Heck, breakfast at JFK is usually the better part of a fifty.....and the maids appreciate the daily tips as well. <img src="http://www.traveltalkonline.com/forums/images/graemlins/jester.gif" alt="" /> <img src="http://www.traveltalkonline.com/forums/images/graemlins/jester.gif" alt="" />

We generally have a fair amount--maybe $200--in $20's and maybe $20 in one's, and I prefer 50's over 100's, because some places are going to be grumpy if you try to use a 100 dollar bill for a $30 meal or whatever. Of course if you know that you are going to be going to the casino, you can always change large bills there, or perhaps at your hotel, if you're staying at a bigger hotel..

Enjoy!

I usually bring Franklin's (100's) and lots of Jefferson's (2's)for tipping. I will then use the change from the 100's for menial shopping.

Just down the street from the Simply Market. If you pull on the road where the Simply is, just past the Simply by and its on the left.

dueces..what a fantastic idea

Your bank or credit union may not have lots of them on hand, as I usually start 6 months before I leave the mainland to get about 50 of them....Some people on the island have never seen a US $2, some with cherish them others will question if it is legal tender.....

Actually, years ago, Neil Rooney used to give $2 bills as change. Not so rare back then.
irina

I did not realize there was a credit mutual atm in Marigot on Rue de la Republique. Anyone know if that atm dispenses dollars like the one in hope estates?

We have found that the ATM at the airport has a great rate for Euros. It's good to have Euros when dinning on the French side, yes some do "1:1" but trust me they would rather be paid in Euros!!!

I think YOUR bank card determines the exchange rate not the ATM location.

It's actually the network that processes the transaction that determines the rate. Star, Plus, Pulse, Cirrus, and Maestro are just some of the networks that handle transactions.

Correct...it is whatever one your bank card is a member of...not the location of the ATM

Ah yes...now I remember. Didn't know it was Scotia. Arriving Tuesday for 2 weeks staying at Villa on top of hill in Orient Bay. You can see more of me at Club Orient <img src="http://www.traveltalkonline.com/forums/images/graemlins/Devil.gif" alt="" /> <img src="http://www.traveltalkonline.com/forums/images/graemlins/Devil.gif" alt="" /> <img src="http://www.traveltalkonline.com/forums/images/graemlins/Devil.gif" alt="" />