Exchange rate USD to EURO better in Spain or U.S.?

[relaxatsea]

Does anyone know if, when using cash (not credit card), there is any advantage with the exchange rate to buying Euros in the U.S. or waiting to buy them in Spain at a bank. (I know the rate fluctuates all the time and it is always a gamble to wait or not wait, so that is not my question.) I suspect it may not make any difference, but would like your opinions.

Thanks in advance!

[KirkNC]

Get them from an ATM, that is the best exchange rate.

[Hlitner]

There is a basic rule for Americans. The exchange rate will always be much better in Europe :). As has been previously posted, the best rates are normally obtained by simply using your ATM card. You should make sure your bank is aware of your trip and itinerary (to avoid security issues) and have a 4 digit PIN that you know in numbers (no letters on must European ATMs). You also need to be aware that there is a daily withdrawal maximum governed by both your own bank and the local ATM operator. This normally ranges from about 200 Euros up to 500 Euros, but its best to plan ahead so you have enough Euros to meet your cash needs.

Hank

[CruisinGerman]

If you take U.S. dollars cash and convert them to euros cash, you are given a banknote exchange rate (which is far lower than the interbank rate).

If you use an ATM card, you are given the interbank rate less the commission charged by your bank, and this is usually far more favorable than using the cash system.


Kind regards,

Gunther and Uta

[chipmaster]

ATM ATM ATM get them once you land.

DO NOT EXCHANGE at the booths in airport either before you go or after you land, you are likely looking at 20-30% loss in value.

If you want a huge chunk of change than at your local bank might be in order.

[relaxatsea]

Thank you everyone! This is really helpful and we appreciate your good advice, ATM it is!

[chefchick]

So you are saying not to exchange at home or at the airport? Or just not at the "currency exchange" type booths at the airport as opposed to ATMs at the airport? We will need some euros for cab fare to the hotel for example.

Sorry, I assume this is an obvious question but I will be very tired after my long flight and I want to find out all I can ahead of time.

Thank you.

[OnWeGo]

I always land in Europe with some Euro on me for cabs, etc. until I can get to an ATM. Like you I am tired from the flight and the last thing I want to worry about is finding an ATM. As previous posters have said, let your bank know that you are going and only use ATM's at banks.

[Hlitner]

So you are saying not to exchange at home or at the airport? Or just not at the "currency exchange" type booths at the airport as opposed to ATMs at the airport? We will need some euros for cab fare to the hotel for example.

Sorry, I assume this is an obvious question but I will be very tired after my long flight and I want to find out all I can ahead of time.

Thank you.

There are plenty of ATMs at the airport and they are no different then ATMs anywhere so you can certainly take advantage of these machines. The currency exchange booths will not give you as good of a rate although its certainly an option. But Europe has its quirks. We recall flying into Venice's Marco Polo airport early one morning (about 6:30) and some folks were shocked to find that the currency exchange booth was not opened until after 8am :) Of course the ATMs worked just fine.

Hank

[Yankee123]

Not to sound ignorant, but aren't you charged a fee by the ATM and your bank, if the ATM is not your bank ATM?