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Dear GEMüTLICHKEIT Subscriber The Travel Letter for Germany, Austria & Switzerland Trip Planning, Part V: Currency Exchange Of the approximately 2,200 pages MURNAU of the Gemut.com website, the one “We came here together, on a brief In the summer of 1908, Russian- that draws the fifth most visitors is visit, for the first time in 1908, in June, born painter Wassily Kandinsky a page on currency exchange. That’s and we were both delighted with the town and his German pupil and mistress, understandable. To many travelers and its surroundings.” Gabriele Münter, discovered Mur- the money changing business, one in – Gabriele Münter nau on a day trip from Munich. The which the “house” always has the estled in the foothills of the couple fell in love with the town’s advantage, is mysterious and confus- Bavarian Alps, Murnau is the bright colors and the surrounding ing. In some cases there’s even a bit N center of a region that has landscape and, in the fall, returned to of sleight-of-hand involved…more on come to be known as the “Blue Land.” live. With them came Russian paint- that later. It lies on a sweeping green-gold moor, ers Alexej Jawlensky and Marianne There are several issues to consid- and near it the blue waters of a lake von Werefklin. Münter purchased er when changing dollars to euros or —the Staffelsee—sparkle. Classical- a hillside house with a view of the francs or forints, but the central one is town’s onion-domed St. Nikolaus by Phyllis Meras style houses - pink, the exchange rate. To make a dollars- green, gold, and Church and of the castle that today is to-euros decision without taking into blue – with gaily decorated facades, the Schlossmuseum. account the rate of exchange—or line its cobblestoned Marktstrasse. The 42-year-old Kandinsky and assuming one seller’s exchange rate is It is an ideal base for visiting many 32-year-old Gabriele were soon living the same as the next—can cost more sites in the region, including Linder- in a little yellow house that neigh- than just a few dollars. hof, Neuschwanstein, and Hohen- bors called the “Russians’ House.” I find it amazing that there re- schwangau castles. The town itself Kandinsky painted the sides of the mains any difference of opinion at was the backdrop for one of the im- stairs with pictures of horsemen and th all about the best way to deal with portant artistic movements of the 20 the couple filled their rooms with money while traveling in Europe. As century—The Blue Rider. I see it the cheapest, most convenient, Continued on page 3… and safest way is to carry an ATM card and for daily “walking around” money get a couple of hundred euros German Wine Festivals as needed from Europe’s ubiquitous veryone loves a party and the the road, or even closer. Skilled tast- ATM machines. For larger transac- Germans are no exception, es- ers can distinguish not only among tions, such as hotel bills, use a credit E pecially when food and drink wines from the Ahr, Rheingau, Fran- card. are involved. Public partying is a conia, Pfalz, and Baden regions, but Let’s take a look at the ATM’s tradition in Germany, from Munich’s also identify the differences between “competitors:” annual Oktoberfest beer bash to more wines from adjacent vineyards. than 1,250 wine festivals held through- Traveler’s Checks Although Germany exports wine, out the country every year. much of its production never leaves Because they can be replaced if Germany is the eighth largest the country, and is usually consumed lost or stolen, old-fashioned trav- wine-producing country in the world, not far from where the wine was eler’s checks are indeed safe but their known for its excel- made. A fun way to sample these lo- by Sharon Hudgins downside is overwhelming. Even if lent white wines and cal wines is to attend one of the many the checks are euro-denominated they an increasing number of reds. Wine in wine festivals held annually in each are often difficult to cash (it seems Germany comes from 13 designated region. Most occur between March to be a rule in Europe that banks are wine regions and each has its own and the end of harvest, in late Octo- always closed when you need cash character, depending on the grape va- ber. Some are quiet little fests in small and, because of wide-spread t-checks rieties, the climate and terrain, and the villages, held on only one day. Others fraud, many European banks simply skill of the winemakers. Even wines Continued on page 10… won’t deal with them). More im- from a small microclimate within a Exchange rates as of 6/4/12 portant, the exchange rate is lousy. specified wine region will differ from 1 euro = $1.25 American Express traveler’s checks those made just a kilometer down Swiss franc = $1.04 Continued on page 2… 1 gal. diesel, Germany=$6.74 www.gemut.com June 2012 www.gemut.com “Like” us at Facebook.com/Gemut.com like a credit card. It’s secure, convenient earn American Airlines AAdvantage DEAR SUBSCRIBER Continued from page 1 and can be easily replenished, but fees miles and with American Express I get are high and the exchange rate is not the Membership Rewards points which can be purchased through Bank of inter-bank rate. The main players are can be easily transferred to several America. On June 7, their price to Visa’s TravelMoney Card, the Trav- frequent flyer programs. In addition, purchase one euro was $1.3246. Thus elex/MasterCard Cash Passport and the they are convenient, I have a record of €3,000 cost $3,974. Use your bank’s Pass from American Express. each purchase, and often don’t have ATM card, however, and you get the to pay until several weeks after the Chip and Pin Credit Cards inter-bank exchange rate of about actual transaction date. Most impor- $1.256, making the €3,000 cost $3,768, a A small advantage to the Travel- tant, of course, is I get the best possible difference in your pocket of $206. Some Money Card is that it contains a chip exchange rate, the key element in cur- banks, notably Capital One, don’t which, unlike 99-percent of U.S.-issued rency swap. credit cards, works in European credit charge for overseas ATM withdrawals, However, I could avoid the two card machines, which may be your but many do. The range is about $1 to or three-percent fees, have credit card only option where the purchase is $6 per transaction. The European bank convenience and still get the interbank entirely automated such as at 100-per- whose ATM you use may also levy exchange rate. Capital One and several cent self-service gas stations, parking a small fee, though if your bank is a other credit card issuers (see www. lots, toll roads, and rail station ticket member of the Global ATM Alliance nerdwallet.com for a list) don’t charge sales kiosks. Our magnetic strip credit you won’t be charged at member bank extra for foreign transactions. Some cards are still accepted by ATMs and at overseas. As to my sleight-of-hand readers complain about Capital One’s hotels, restaurants, and retail outlets. comment, what else does one call it poor customer service (clueless phone However, you may have to insist that when currency sellers’ ads tout ”free” support personnel and long waits on the clerk or waiter manually punch in or “no fee” traveler’s checks but fail to hold) but for the traveler who will rack your card number. mention the exchange rate? up $5,000 in overseas charges, a no-fee Several major U.S. card issuers Purchasing Euros credit card will save as much as $150. have recently introduced “chip and Continued on page 12… Some travelers simply buy a pin” credit cards, though you can quantity of euros and carry the cash expect to pay an annual fee. Among Using Gemütlichkeit to Europe. That might be handy but them are: U.S. Bank’s FlexPerks Visa, • Hotel prices listed are for one night. Dis- counts are often available for longer stays. it’s neither safe nor economical. One British Airways Visa, J.P. Morgan Se- Travelex • All hotel prices include breakfast unless popular online seller is . Their lect Visa, Hyatt Visa, and Citibank’s otherwise noted. exchange rate for the same €3,000 is a Executive/AAdvantage MasterCard. • Local European telephone area codes whopping $1.40 making your out-of- carry the “0” required for in-country dialing. Credit Cards To phone establishments from outside the pocket a tidy $4,200. That’s $432 more country, such as from the USA, do not dial than if you used an ATM card. Wells Like many travelers I carry credit the first “0”. Fargo at $1.32 is better but you are still cards that charge for foreign transac- Back Issues Website $192 ahead of the game with the ATM. tions. On a €300 euro hotel bill Ci- Many back issues are available free to subscribers tibank Visa nicks me three-percent—€9 Pre-paid Travel Cards at www.gemut.com. To access the issues, enter the or about $11.25. With Amex it’s password published in this space each month. Go to The idea here is the traveler is is- two-percent— €6/$7.50.

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