This summer, after our Western Mediterranean Cruise, I was faced with the question of what to do with the remaining currency we had on hand when we got back home to Canada.
I know what you’re thinking. You’re absolutely right! It was nice to have money left over after a trip.
When I got back from Europe, I could have easily gone to the currency exchange and sold my Euro (€ ) and converted them into either US Dollars (USD) or Canadian Dollars (CAN). At the time, I knew deep down that I would have just ended up spending any Canadian Dollars on everyday stuff. That’s what would have happened, I’m sure of it. These leftover Euro were saved for travelling, so they needed to go back into savings for more travel.
Now I already have a US Savings Account where I save money for future travels to the US and the Caribbean. I could have parked some money there and it would have been put to very good use. However, these Euro had been put aside and saved for adventures in Europe. So back to Europe they should go.
The hunt for a Euro Savings Account began in earnest.
After poking around on the internet, I found out that Scotiabank, here in Canada, has a Scotia Euro Daily Interest Savings Account that fit my needs.
This account offered competitive foreign exchange rates, a sliding scale interest rate, no monthly fees with a minimum closing daily balance (€ 200), and two free teller transactions per month.
This account seemed to be just the ticket. While it turns out that I didn’t have enough to deposit to make any interest on my leftover Euro (less than € 5000), I did have enough to avoid the €1 monthly fee. Furthermore, since this wasn’t an account that I would access very often, the 2 free monthly teller transactions, would more than suit my needs.
While we have no current plans to visit Europe in the coming year, when we do decide to take another trip across the pond, I will have my small stockpile of Euro (€) to take with me.