Dollars to Euros...Where?

[lightsleeper]

Can cruise critic experts suggest where is the best place to exchange dollars to euros for a Med cruise (Venice to Rome or vice versa)

[thinfool]

Can cruise critic experts suggest where is the best place to exchange dollars to euros for a Med cruise (Venice to Rome or vice versa)

 

At an ATM in the airport after you arrive in Italy. Best rates, very convenient.

[CruiserBruce]

At an ATM in the airport after you arrive in Italy. Best rates, very convenient.

 

Agree totally. Regularly discussed on the Ports boards.

[Roses2]

 

Here are some guidelines we follow:

 

Often it is easier to find ATMs in Europe than in the U.S. Use ATMs tied to recognized international banks. When using ATMs it is preferred to use a debit card rather than a credit card since credit cards usually will charge you for a cash advance.

 

Carry a credit card that charges no foreign transaction fees for purchases and make sure they make the charges in foreign currency and do not convert to dollars to assure the best conversion rates. There are plenty of these cards.

[paul929207]

We always get Euros from an ATM in Europe. Rates are much better than using a bank in the US.

 

Note that many US banks will charge a fee this withdrawal. If you expect to make many withdrawals, you may want to get a card that does not charge a fee. We don't make enough withdrawals to worry about it. Usually only 1 or 2 a year. I always withdraw the maximum (usually 500 Euros) since the fee is per transaction, not a percentage. I save left over Euros for the next trip.

[san diego sue]

Recently traveled to Germany. Was with people that acted like experts

and were going to lead us in the right directions(She grew up in Germany and they said they traveled there often). I had lots of Euros left from previous trips.In the past we just bought them before the trip at home from Wells Fargo. Paid the small premium and were prepared.

Well, he said he just exchanges his dollars at local banks there.

Really bad way. So when I ran short and he also needed Euros, went into a bank. Not only was their rate bad($1.37), they charge a transaction fee. Didn't matter how much you exchanged , it was 12 Euros(approx $20.00).Use your ATM folks, best and cheapest way.

[bassmaster150]

We always get them before we leave. Is there a premium...sure....but gives us piece of mind and when we arrive, we just start having fun.

[caribill]

 

Here are some guidelines we follow:

 

Often it is easier to find ATMs in Europe than in the U.S. Use ATMs tied to recognized international banks. When using ATMs it is preferred to use a debit card rather than a credit card since credit cards usually will charge you for a cash advance.

 

 

At an ATM, some give a choice of charging your account in $$$ or in local currency.

 

Always pick the local currency option. The $$$ option will give you a poor exchange rate.

 

Also, always notify the issuing banks of your debit and credit cards that you will be using them overseas. If you forget to notify, your transaction has a good chance of being denied.

 

Most foreign ATMs have keypads with numbers only, no letters. So if your passcode is alphabetic (example: PRIN), memorize the numbers on the keypad you will have to use (example: 7746).

[willtravel8090]

Just recently returned from Ireland... This worked great for us...

1. We used our bank to exchange a small amount of money to have on hand. Around 150 Euros. Our bank did not charge a conversion fee in the US just standard exchange rates but make sure to check with your bank. 2. We then used our debit card at ATMs throughout our trip. (We did not stick with our normal bank as they charged a 3% fee when used outside the U.S.) We opened a Schwab online checking account not only do they waive or reimburse all ATM fees, they do not charge a conversion fee just the exchange rate, but they also use the pin and chip card. Which is used exclusively in some parts of Europe. I will note that setting up the account, waiting for the card, and the all important funding of the account took about 2 weeks. So if you go this route plan accordingly.

3. We used the same card to make purchases also. Because of the pin and chip the card can be used anywhere. There is no usage fee to do this just the standard exchange rate applies.

4. Finally we had a back up credit card for large purchases or emergencies. We did not use this for ATMs as they charge a cash advance fee. Also check you company to make sure there are no usage fees.

 

Hope this helps!

 

 

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[Casey12]

We always get some before we leave at Wells Fargo and then go to an ATM in Europe.

[Husky61]

To each his own. Personally I just exchange at a place that is convenient for me. I don't really pay any attention to what the exchange rate is.:)

[coldinerie]

We travel to Paris frequently, I have learned to get a few euros (125.00 Euros), from my home bank. The fees are crazy in the US to get euros. when I land, I go to an ATM and get what I need. This way I have some 'pocket euros' and get the vast majority of my cash at ATM. I swear I only paid $1.50 US per transaction at an ATM. It really does work. Make sure you tell you bank and Credit Card co that you will be utilizing your plastic over seas, this way there is no issue. BTW in this day and age, you can call to the US on your cell, no need to worry about banking now a days. Enjoy your trip.

[DrivesLikeMario]

I usually get some before leaving the US at:

 

https://www.wellsfargo.com/foreign-exchange/index

 

Easiest thing in the world - place your order, they verify it, it shows up at your doorstep. From what I've been told, even AAA orders it from Wells Fargo now too.

 

Once in Europe, I'll use ATMs but remember your daily limit will be a lot less than what you're used to in dollars. For example, if your daily limit is $300 US, that's only about 180 GB Pounds. It can mean going to the ATM every single day and still not having enough for the more pricey private tours.

[anthonyy7]

We got 400 euros from the ATM (VCE/next to baggage) which was the max it would allow us to get. The next day we got another 400 (@ bank ATM) which would last us the trip. The difference between the transactions was $50! The rate at the airport sucked

[CSloan]

Last year, I exchanged USD to Euros at my bank. I'm glad I did it that way. I didn't have to even think about it when we arrived in Venice. However, my bank did need to order the Euros, so I requested them a few weeks in advance. My bank charges a $10 fee to do this, but they waived it after I pointed out I've been with the bank for many years :-)

[paul929207]

Last year, I exchanged USD to Euros at my bank. I'm glad I did it that way. I didn't have to even think about it when we arrived in Venice. However, my bank did need to order the Euros, so I requested them a few weeks in advance. My bank charges a $10 fee to do this, but they waived it after I pointed out I've been with the bank for many years :-)

Did you compare the exchange rate to the "Official" rate that day?

[CSloan]

Did you compare the exchange rate to the "Official" rate that day?

 

No, I didn't. But, I did do the exchange 2 different times, so the rates varied. Honestly, I was more interested in the convenience of just having it done, and not paying the transactions fee.

[caribill]

We got 400 euros from the ATM (VCE/next to baggage) which was the max it would allow us to get. The next day we got another 400 (@ bank ATM) which would last us the trip. The difference between the transactions was $50! The rate at the airport sucked

 

Did you let the ATM convert it to $$$ or did you let the ATM charge your bank in Euros?

 

You always want to do it in the local currency and let your bank do the conversion to $$$.

[Coral]

I go down to our main Wells Fargo bank and get some money before I leave. If I need a lot or certain denominations, I call 2-3 days before to make sure they have it and if they don't they order it. For main currencies, they keep quite a bit on hand. I did have order rubles. I have gotten yen many times with out pre-ordering.

 

I live in Lincoln, NE and our main Wells Fargo bank carries currencies. So it is not something that is only available to those in large cities.

 

While I haven't traveled outside of the country recently, in the past, Wells Fargo's rates were pretty darn good. They blew away some of the big guys' rates.

Edited October 19, 2014 by Coral

[Marseydotes]

As a test, I called AAA to ask what they are charging for exchange of dollars for Euros. They quoted no fee, and for MEMBERS, you can exchange $ 100 for 69 Euros. (For non-members, it was $ 110.)

Immediately looked up the current exchange rate--$ 100 equals 78.333 Euros. So, while AAA has no "fee" the exchange rate is much lower than the official one. I would assume this to also be true for most US banks.

When I am closer to our trip, i intend to obtain a few Euros here, just to be assured of enough to get to the hotel. But I will do as I have in the past, and exchange at ATM's there!

[anthonyy7]

Did you let the ATM convert it to $$$ or did you let the ATM charge your bank in Euros?

 

You always want to do it in the local currency and let your bank do the conversion to $$$.

 

I don't recall any option or I would have def chosen the local. The ATM outside the airport looks more reasonable, just a few bucks more than the rate shown on XE. I guess being inside the secure intl arrival area they know people want cash so I guess it was a higher rate.

[IECalCruiser]

I have an ATM card card that I have used in Estonia, Spain and Italy in the last two years. I am not charged any transaction fees to withdraw Euros overseas with that account and the exchange rate was within 0.2% of the average exchange rate for that day which was slightly better than charges I made with my no exchange fee credit cards. I have a a Wells Fargo account and I checked the exchange rate there last year. Even though there was no transaction fee, the rate was between 3-4% poorer than the average daily exchange rate. I found ATMs readily available in Europe. I've been using ATMs to get cash in Europe since at least the mid '90s. Even if you are charged a transaction fee, the rates at ATMs are the best.

 

 

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[caribill]

I have a a Wells Fargo account and I checked the exchange rate there last year. Even though there was no transaction fee, the rate was between 3-4% poorer than the average daily exchange rate.

 

Even though there was no transaction fee, Wells Fargo includes in the exchange rate a 3% foreign exchange fee.

[IECalCruiser]

Even though there was no transaction fee, Wells Fargo includes in the exchange rate a 3% foreign exchange fee.

I couldn't remember the exact percentage, but that's why I don't get Euros or other foreign currencies in the US from Wells Fargo or anyone else. Even if I had to pay a small transaction fee at an ATM, it works out to a much better exchange rate.

 

 

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[caribill]

I couldn't remember the exact percentage, but that's why I don't get Euros or other foreign currencies in the US from Wells Fargo or anyone else. Even if I had to pay a small transaction fee at an ATM, it works out to a much better exchange rate.

 

 

 

With foreign ATMs, your bank that issues the debit card decides what to charge for foreign transactions. Wells Fargo and many other debit cards charge 3% which is built into the exchange rate you will see on your statement. CatitalOne and some others have 0% added to the actual exchange rate.