buying Euros

[jerryjash]

What is the best way to exchange Dollars for Euros and get the best exchange rate?

[AmoMondo]

Sometimes you get better rates ordering online. Sometimes 9depending on the type of card you have, the most convenient way is just to withdraw euros from an ATM as you need them. that way you aren't carrying huge amounts with you and don't have the costs of converting back if you don't use them all. Some people's bank's have good deals too. You really need to shop around if you want the best deal on rate and commission.

 

However if you intend to pay most larger purchases by credit card and only need small amounts of actual cash, then there has to be a huge difference in rate to make that much of a difference to the total cost.

[navybankerteacher]

Generally, you will get the best rate by withdrawing Euros as needed by using your ATM card - banks will give you a better exchange rate on their ATM than they would if you came in with Pounds, Dollars, or whatever; and a much better rate than any Change Bureau would give. Also, you avoid the risk of carrying too much cash at any time, or of winding up with a pile of Euros at the end of the day.

[Signor John]

ATMs generally give the best rate, but make that your bank doesn't levy a surcharge of several percent on withdrawals. Many U.S. banks these days hit you with a double whammy: They take several percentage points on top of the clearinghouse's 1 percent commission, AND they charge a transaction fee of several dollars per transaction.

 

Most U.S. credit-card companies have surcharges or "conversion fees" of anywhere from 2 to 5 percent, too--not just on foreign-currency transactions, but sometimes even on U.S.-dollar transactions outside the United States.

 

Mind you, traditional exchange counters aren't any less greedy: My wife and I were in Venice a while back and saw that Travelex was charging an 8.5% commission on U.S. dollars plus a €3,50 handling fee.

[boca7]

I ONLY USE VISA capital one card out of the country as they are still not charging an exchange chg, almost everone accepts visa.

[Mr & Mrs Canada]

ATM card. Convenient, virtually theft-proof (you can't loose cash you have not yet withdrawn), up-to-date rates. Why use anything else?

[boca7]

Because I don`t want to pay exchange rates!!!