I'd like to buy Euros for an upcoming trip. Any suggestions, hints, tips?

It's usually cheapest and easiest to just use an ATM when you get to your destination.

our local Citibank had the best exchange rates 6 years ago which is the last time I travelled to Europe. Might need an account there, not sure.

By the way, 6 years ago, I was pretty much unable to use my credit cards at the smaller merchants. All wanted a "chip and PIN." I had the chip but not the PIN, so I was out of luck. Luckily the hotels didn't seem to care.

But I used a lot of Euros there at the smaller merchants.

Not sure if things have changed in the last 6 years.

If your local bank is medium size or larger they will get you the best rate. We bought some Euros earlier this summer this way and got them in 2 or 3 days.

I ordered ours from Wellsfargo Bank last year when we travelled. You can either pick it up from the bank branch or have it delivered to your house (signature required).

Order different denominations. Better to get it here, than exchanging our US Dollar overseas. I don't like using ATM overseas. We ran out of Euros when we travelled and exchanged our back-up USD in Paris. Exchange rate was a lot lower.

I just order currency from my local PNC. Rates were fair, last time I ordered. Pick up in the branch. Easy peasy.

Euros are very fast turnaround. Had a few days wait for more obscure currency like Icelandic krona.

I always bring 200-300 Euros back with me on every trip so I have them for the next one. You can often find people on Craigslist trying to sell their leftovers from a recent trip.

Use an ATM at a bank at your destination. There are some independent ATMs which charge high fees and give a bad exchange rate, but I forget the details on what to look for on the screens. YouTube has videos about it.

quote:

Originally posted by Fly-Sig:

Use an ATM at a bank at your destination.

I was based in Barcelona for a year and a half, and traveled extensively throughout Western Europe. This was before the Euro, so I had to have a stash of pesetas, franks, deutchmarks, etc.

One thing that I learned -- before crossing a border into a different country, I always made sure that I had enough cash in the proper currency, to cover all anticipated needs until the next business day.

either way, exchanging here or there, you take a bath. I would just wait until I get there and go to a money exchange at the airport. And, yes, you really get soaked there. But I keep my currency to a minimum. I do most of my buying with a credit card that does not have a foreign transaction fee. And, yes, you'll get soaked with the exchange rate. What I try to minimize is ending up with a lot of foreign money going home and I get soaked again exchanging it for US dollars.

I spent three weeks in Europe this past June.

quote:

Originally posted by bigwagon:
It's usually cheapest and easiest to just use an ATM when you get to your destination.

See advice from Fly-Sig below.

quote:

Originally posted by Fly-Sig:
Use an ATM at a bank at your destination. There are some independent ATMs which charge high fees and give a bad exchange rate, but I forget the details on what to look for on the screens. YouTube has videos about it.

Yes! I found the best exchange rate at bank ATMs. The exorbitant fees will be clearly shown on the random street ATMs. Just stay away from them. I recommend a Charles Schwab debit card. It has no foreign ATM fee. You have to open a checking account that's tied to a brokerage account but you don't have to fund it, just the checking account. I've never written a check on that account. I only use the account for foreign travel and the ATM/Debit card.

quote:

Originally posted by Rey HRH:
I would just wait until I get there and go to a money exchange at the airport. And, yes, you really get soaked there. But I keep my currency to a minimum. I do most of my buying with a credit card that does not have a foreign transaction fee. And, yes, you'll get soaked with the exchange rate.

Yes, you'll get soaked with the exchange rate at an airport currency exchange, so don't go there.

I have not found getting soaked with the exchange rate with credit card transactions. Yes on the CC with no foreign transaction fee. I use a Chase Sapphire. That card costs $95/yr. Now, I'm as frugal as they come--I wouldn't have that card if the perks didn't outweigh the cost. I pay the fee every year with the points I've accumulated. There are other free CCs with no foreign transaction fee. You'll have to do your research.

For me, cash on a foreign country vacation is just for the random purchases on the street or vendors where a CC isn't accepted and especially for tipping. I recommend a lot of small denominations. Get your money from the bank ATM and then go inside and get smaller bills.

quote:

Originally posted by V-Tail:

One thing that I learned -- before crossing a border into a different country, I always made sure that I had enough cash in the proper currency, to cover all anticipated needs until the next business day.

So did I, and for unanticipated needs also like the time I flew into Tokyo and the guy who was meeting us and taking us to dinner and our hotel had gotten in an accident and was comatose in the hospital and we had no way of knowing it. Fortunately I had a bunch of Yen on me and covered our taxi, drinks and dinners for that night.

I got stuck in a Paris restaurant without enough cash. The waiter brought me a phone, and I called the international number for Chase. They sent me 500 Euros thru the restaurant and the waiter brought it to my table, and they only charge me 3 percent. That covered unexpected expense for the remainder of the trip.

I just got back from EU yesterday. I ordered Euro from Wells Fargo and they sent it overnight while I was in USA before the trip. That worked well.

I have also gotten money from ATMs on previous trips and that also works but is limited to what you withdrawl limit is.

I was in London last month for 10 days, with side trip to the Cotswolds and Oxford. I got $400 Euros from my mainline bank, BMO Harris, prior to departing at a middling exchange rate.

Turns out, nearly everyone in London exclusively used CC or iPhone payments, you know, swiping your card/phone across the reader device. My card didn't have that capability, and it proved mildly awkward being the only one paying primitive style.

Additionally, I had a difficult time repatriating the minimal cash, due to many not accepting it, no tips, etc... Always had to ask if they accepted cash in an attempt to move it along.

Consider your destination. Larger cities may be primarily card or e-payment of some sort. Better luck out in the country, I found.

I also just always use an ATM in country.

I wanted to buy a Sinn watch near Cologne about 12 yrs. ago, but the store didn't take credit cards. It was closing time on Friday night and I was flying home the next morning. No way I could get $1800 out an ATM there. The owner told me to take the watch and just wire him the money the following week. He even filled out the paperwork for the VAT refund at the airport, saying I had paid cash. That was nice. I couldn't call my bank fast enough that Monday morning.