Currency Exchange

[Jingerwoppy]

Has anyone tried buying euros at the Federal Reserve branch in San Antonio, TX? We're trying to avoid all of those horrific exchange fees and understand that this might be the way to go.

[6rugrats]

You can't purchase foreign currency at a Federal Reserve Bank. You'll have to go through your bank or a foreign exchange dealer. I am not sure what you are talking about with "horrific exchange rates". The exchange rate you see each day is not one that's available to the regular consumer. You are not going to get as good as a rate as banks do.

[tiyana4]

Travelex online is a great place to buy foreign currency. This is particularly true if you are buying multiple currencies. We did this for our Med cruise last year and paid roughly $10 USD including shipping fees....it was convenient and painless.

[Dayenu]

The cheapest is to use your ATM card in Europe. Don't know if credit unions give you a better rate.

[KirkNC]

Travelex online is a great place to buy foreign currency. This is particularly true if you are buying multiple currencies. We did this for our Med cruise last year and paid roughly $10 USD including shipping fees....it was convenient and painless.

 

You made not have paid much in fees but those places are notorious for horrible exchange rates.

 

The best is to just use your ATM card, no fees and good exchange rates. I have never been anywhere I can't find an ATM.

 

Kirk

[lmarmors]

The best is to just use your ATM card, no fees and good exchange rates. I have never been anywhere I can't find an ATM.

Kirk

Do you mean to take out foreign currency in cash from the ATM? isn't that consider a "cash advance" with very high fees?

[6rugrats]

You are thinking of taking out money using a credit card.

 

Using your ATM or debit card, it would be just the same as withdrawing money from an ATM in the US. Depending on your bank's policies, you may incur a foreign currency transaction fee (not much usually) and you may be charged to use an ATM that is not your bank's, but again, this isn't much money.

[Wildblue]

Agreed. I travel world-wide a LOT, and whenever I need local money, using a local ATM to take funds directly from my checking account is always the best deal financially, plus it's super convenient. That's the only way I ever get foreign currency.

 

As mentioned, just check with your ATM card issuer to see if they have any foreign ATM fees. (USAA did not, the last I used it)

[Jingerwoppy]

Thanks for all of the input. We've found a bank here in Austin that will order as much as we need for a fee of only $5.

[Keith1010]

Thanks for all of the input. We've found a bank here in Austin that will order as much as we need for a fee of only $5.

 

Be sure to verify what the exchange rate is.

 

Keith