How do YOU exchange $$ to Euros?

[Barrheadlass]

I bought foreign currency from AAA before a trip last summer because of the scenario you describe...had a private tour booked the moment I landed in Norway via cruise ship and figured I couldn't ask the tour guide to stop at an ATM. This, however, was the first time I did this. The exchange rate was ok and the fee reasonable. As for euros, I travel to Europe usually 3 or more times a year, always use my ATM debit card at ATMs at banks, and my bank does not charge a fee. I also always make sure I come home with plenty of euros so I'm prepared for my next trip.

[notentirelynormal]

I liked to get it in advance and not take time out of my day to stop at an ATM. I go to a local coin store before I leave. They buy and sell money just like the bank. Same exchange rate and in different denominations. Some large and some small (like 500 EU and 5 EU and some coins). I put each ports money in a baggie and when we arrive the money goes into the safe. The day of the tour I pull that baggie out and a baggie with the tip money in it. That way I don't need to spend one minute of my trip getting or sorting money.

 

I am definitely an over planner.

[Kartgv]

I think someone already mentioned AAA - the nice thing about them is that, in addition to the usual larger amounts of many different currencies (I think you have to pre-order by phone), they offer small $100 equivalent 'tip packs' that provide some smaller bills. That will probably get you to your hotel or the pier or to an ATM where you can get a better rate once you arrive at your destination.

[Cruise Junky]

I'm lucky to live in a city with great foreign exchange places. I get a chunk at home and then when I run out I use an ATM. I get $100 cdn worth of foreign currency each paycheque for wherever we're going next.

[notentirelynormal]

I think someone already mentioned AAA - the nice thing about them is that, in addition to the usual larger amounts of many different currencies (I think you have to pre-order by phone), they offer small $100 equivalent 'tip packs' that provide some smaller bills. That will probably get you to your hotel or the pier or to an ATM where you can get a better rate once you arrive at your destination.

 

AAA is really expensive.

[Barrheadlass]

AAA is really expensive.

 

 

We're definitely paying for the convenience, but the one time I did it, it was worth the extra cost. Not something I'd make a habit of, though.

[WVU_Neal]

Having a retirement account with Fidelity, I am also able to get a Cash Management account which has both free checking and bill pay as well as a no-fee Debit card. Fees are refunded literally from anywhere, including overseas. When I travel, I simply go to a local (preferably a bank) ATM and get Euros or other local currency. It is exchanged to dollars and withdrawn as would any other debit/ATM transaction with no fees. I never looked closely at the exchange rate, but it looked close.

 

For credit card transactions, I use a no foreign transaction card, one of those from Capital One.

 

This method seems to work quite well, as I hate fees with a passion.

 

Neal

[Flatbush Flyer]

I always get a little bit of local currency before I go, just in case the ATMs nearby are all lined up or out of service. Just enough for cab fare into town, perhaps a little more. Then I get any more cash I need from ATMs when I'm there.......it saves me from carrying a lot of cash through airports (always risky areas for pickpockets), and not all ATMs charge a $5 service fee. I found that it depended on the bank and the location (on both my trips to Spain and Portugal); if they wanted to charge me a fee, I canceled the transaction and tried a nearby machine.

 

 

As for getting money while on a tour, just ask your driver to take you to an ATM. They'll happily do it (I did that taking a cab from Auckland port to my rental car as I had no NZ$).

 

 

OP: Our local bank has a very good exchange rate (as far as banks are concerned). We get enough of each currency we might need for "walk into the port" money and/or that possible first taxi to get to an ATM if needed. For a 3 week cruise, that might be several hundred dollars of pre-purchased currency. Any difference in exchange rates for that small an amount is not worth concern. And we use whatever is left over for room service or any other shipboard optional tips- money is money.

As for private tour guides, we generally do PayPal via an iOS app at the tour conclusion (sometimes we will use cash or, if in a private group arranged by another passenger, settle up in USD with the organizer while onboard).

Of course, never use a credit card to withdraw money from an ATM because interest accrues immediately. Watch out for money changing machines in airports (e.g., Travelex). They are not ATMs and the rate will be high. If the exchange rate is really important to you, skip the ship or hotels for money changing. For larger purchases onshore, we use a "no foreign transaction fee" credit card with all the obvious e-mail alerts turned on.

 

 

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[InitialD]

My state employees credit union exchanges currency for members at no fee and the rates are a lot closer to mid-market than airport exchanges. I'd rather take care of it before traveling abroad.

 

When I went to Asia I used a money belt to store my cash. Great if you keep a $20 in a wallet and your ID and real cash in your money belt - just in case.

[Floridiana]

What about going on private tours for the day you have to pay in Euros at the end? Do they stop at an ATM for you?

 

 

They will, but we arranged beforehand what the payment modalities would be: if cash which currency or credit card. If you spontaneously pick up a tour at the pier, you need local currency which is most likely Euro, but could be a local currency. Find out beforehand. You didn't say where in Europe you are going.

[dickinson]

They will, but we arranged beforehand what the payment modalities would be: if cash which currency or credit card. If you spontaneously pick up a tour at the pier, you need local currency which is most likely Euro, but could be a local currency. Find out beforehand. You didn't say where in Europe you are going.

 

 

I talked about Euros in my OP because that is what I will need.

 

Thanks for all of the responses! Most appreciated. I am sure others reading this thread will be helped too.

[dickinson]

When you use an ATM for Euros... generally what denominations do they give out? My ATM gives out 20s but I know some also do 10's. What about Euros?

[lisiamc]

When you use an ATM for Euros... generally what denominations do they give out? My ATM gives out 20s but I know some also do 10's. What about Euros?

 

 

For Euros, generally the largest note given will be 50. I usually make my request as 240 Euros rather than 250, so that I'll be sure to get some smaller notes as well. I find that 100 Euro notes are very unpopular, and if I receive some, it's worth trying to break them at a bank, or use them for large expenses like hotel bills.

[GottaKnowWhen]

My recommendation: Get 100-200 euros through your bank before you leave. Don't worry about the fee. Once you have arrived, use an ATM to restock your wallet as needed. In batches of at least 200+ euros to amortize any fixed fees across the transaction. Plan to have ?150-200 with you when you come home so you are ready to go next time. Taxi drivers and tour guides have seen travelers from outside the Eurozone before, they understand that you may not have Euros in your wallet, and will be happy to stop at a convenient bank for you to use the ATM. Let them know early in the trip so they can plan their route so as to accommodate you.

Edited March 2, 2017 by GottaKnowWhen
Spelled out "euros" since site doesn't recognize keyboard symbol for euro