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US Dollar to Euro Best place to get a good exchange rate?

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US Dollar to Euro Best place to get a good exchange rate?

Old 07-17-06, 09:54 AM
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US Dollar to Euro Best place to get a good exchange rate?

Going to Europe in a few days.
Everywhere I look the exchange rate is way less that the already poor market exchange rate. I hear Atm's and using your credit card is the best.

Any other suggestions. Any places I should definately avoid?

Thanks
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Old 07-17-06, 10:17 AM
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Depending on where you travel, you might find someone who does an exchange on street corners. You got a better deal than dealing with a bank.

I had to do this when I was in Nicaragua.
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Old 07-17-06, 10:25 AM
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Originally Posted by The Bus
Depending on where you travel, you might find someone who does an exchange on street corners. You got a better deal than dealing with a bank.

I had to do this when I was in Nicaragua.
good way to get counterfeit bills too
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Old 07-17-06, 10:27 AM
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Some credit cards charge a fee now for transactions in foreign currency. Check your cardholder agreement to be sure.
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Old 07-17-06, 11:36 AM
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back around 10 years ago a few US Army pilots in Europe said CC's and ATM's are the best exchange rates since the bank buys so much currency they can give you a good rate. using the currency exchange at the airport or whatever is the worst
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Old 07-17-06, 11:43 AM
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Originally Posted by The Bus
Depending on where you travel, you might find someone who does an exchange on street corners. You got a better deal than dealing with a bank.

I had to do this when I was in Nicaragua.

Not in Europe, never trade currency anywhere but a financial institution. I could give you Euros printed in my house and you would have no clue. I would recommend to shop in your local banks but any major bank down there will do currency exchange, and do not exchange more than what you plan to spend or you will have double fees.

And yes, ATMs and CCs give you the best rates. I called my bank to increase the daily limit to $1,000.00 and they did it no problem (but in case that there is a fraudulent withdrawl they are only liable for $300.00)
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Old 07-17-06, 12:00 PM
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I used the ATM when I travel, because the airport and independant vendors are a complete rip off.

-p
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Old 07-17-06, 08:07 PM
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I'm going to Europe in about a month. Not sure where you live, but maybe you can go to your local craigslist and try to find somebody that just returned from Europe and has extra Euros.

Of course, like others have said, you need to be careful, and maybe you could go to a bank to see what real euros look and feel like.

I sold my Yen this way about a year ago. It was about $300 worth and the girl I sold it to just wanted some pocket change to start her trip.
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Old 10-07-06, 10:32 AM
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I checked my local bank but they're about 4 cents less than what I'm finding online. Do you guys suggest just waiting till I get to europe before getting my euros? or is 4 cents not that big of deal? plus wouldn't it better to get the euro in the us first b/c then I wouldn't get charged a credit card fee of I beleive it was 4 or 5 bucks PLUS 1% transaction fee every time I get cash.

Also what do you guys think about gettin ga prepaid visa card? I was thinking about bringing one with 4-500 on it and then using it to purchase things and when I can't use it, use cash. Or would that be dumb b/c the money will be in US dollars unless they can put euros on the card.

Last edited by phatboy; 10-07-06 at 10:37 AM.
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Old 10-07-06, 01:03 PM
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Just came back from a month in Italy last night and ATMs/credit cards are definitely your best option. ATMs are available everywhere, even in smaller villages.
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Old 10-07-06, 01:14 PM
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With ATMs can you only use major credit cards up to a certain limit, or can you use your debit card and withdraw cash straight from your bank accont?
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Old 10-07-06, 01:24 PM
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I was able to draw funds directly from my bank account while I was in Greece.
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Old 10-07-06, 01:35 PM
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You may want to look into opening an HSBC account. You can open the account in the US and get an ATM card -- then withdraw in Europe at the best rate with no extra fees.

This worked very well for me in London & Paris.
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Old 10-07-06, 04:20 PM
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Originally Posted by DonnachaOne
With ATMs can you only use major credit cards up to a certain limit, or can you use your debit card and withdraw cash straight from your bank accont?

what about using pre=paid visa cards? I'm contemplating getting one and putting money on that instead of bringing my debit card. Can you withdraw money from an atm using that or do you HAVE to use your debit/credit card through your bank?
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Old 10-07-06, 04:20 PM
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Originally Posted by ChiTownAbs, Inc
You may want to look into opening an HSBC account. You can open the account in the US and get an ATM card -- then withdraw in Europe at the best rate with no extra fees.

This worked very well for me in London & Paris.

wha'ts a HSBC account? Are they free or do you have to have minimum blaance?
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Old 10-07-06, 05:15 PM
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Living in Europe, I'd say the best exchange is to withdraw large chunks of cash from the ATM and then keep most somewhere safe besides your wallet. By doing large chunks at once, your fee will be large, but it will also eliminate any additional fees you might incur by revisiting ATMs every day for only small chunks at a time.

Also, check what your CC/ATM company policies are. There's a guy here for the semester whose bank has a $0 withdrawl fee from foreign ATMs - they even reimburse him if the foreign bank charges a withdrawl fee! (Sorry, I can't remember which bank it is.)

-ringding-
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Old 10-08-06, 08:46 AM
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Originally Posted by phatboy
wha'ts a HSBC account? Are they free or do you have to have minimum blaance?
Hong Kong Shanghai Bank -- Headquartered in London, branches all over Europe and from what I've been told -- China. (It started as a merchant bank to the English when they were in China)

They have an online account here in the US (branches only in New York) and their savings account pays 5.05% interest.
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Old 10-08-06, 11:52 PM
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So what I'm getting out of this is that I should just use my debit card to withdraw cash. But one question I'd like ansewered if anyone's familiar with it is what about buying a prepaid visa card. It's just like a regular visa card but you put whatever amount you want on it first and then you can use it. Does this sound a good idea or would it get screwed up cuz it'd be in us money and I'd be using it in lots of different countries with different monies?
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Old 10-09-06, 01:10 PM
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anyone...bueller?
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