Exchanging dollars for euros

[doones2]

We will be spending a few days in Barcelona before our cruise.  Where would be the best place to exchange dollars for euros?  I have read that the airport is not the best place.  Also was thinking about possibly getting euros from my bank before flight.  I know you seasoned travelers will help me out.

[marazul]

Exchanging is not a great idea.  Use your ATM card to withdraw euros from an ATM machine at the airport.  Make sure that it is a bank ATM for best rates.  Then use ATMs in town when you  need more. There are lots of posts here on the subject. 

[MeHeartCruising]

Agreed.  Use a credit card (get one with no international transaction fees, such as from Capital One) for most purchases.  Then use an ATM to get what cash you need as needed, just like at home.  Notify your bank in advance about international travel.  If you’re uncomfortable arriving with no euros, get a hundred or 2 in advance from your own bank.  They may need to order it for you.  
 

I usually show up with less than 20 euros that were left over from a previous trip.  First stop is an ATM. 

Edited January 11, 2023 by MeHeartCruising

[NCteacherlovescruising]

5 hours ago, marazul said:

Exchanging is not a great idea.  Use your ATM card to withdraw euros from an ATM machine at the airport.  Make sure that it is a bank ATM for best rates.  Then use ATMs in town when you  need more. There are lots of posts here on the subject. 

Why is it a bad idea to get euros from you bank before travel?

[marazul]

You get a lousy exchange rate over here.

If it makes you feel better,  get some from your bank before you go. Not more than 200 euros. That's more than enough to get you to the hotel in an emergency. Then go to a bank ATM near your hotel. We prefer ATMs that are right at the bank. 

Edited January 11, 2023 by marazul

[NCteacherlovescruising]

56 minutes ago, marazul said:

You get a lousy exchange rate over here.

If it makes you feel better,  get some from your bank before you go. Not more than 200 euros. That's more than enough to get you to the hotel in an emergency. Then go to a bank ATM near your hotel. We prefer ATMs that are right at the bank. 

I would imagine they would add some hefty service charges for using an ATM in a foreign country. Do you recall how much?  Even so, it’s still better than the exchange rate we would get here?  How far in advance would we have to request the exchange?  My anxiety would go crazy if I didn’t have any cash on me to get to our hotel. 

[marazul]

5 minutes ago, NCteacherlovescruising said:

I would imagine they would add some hefty service charges for using an ATM in a foreign country. Do you recall how much?  Even so, it’s still better than the exchange rate we would get here?  How far in advance would we have to request the exchange?  My anxiety would go crazy if I didn’t have any cash on me to get to our hotel. 

They do not, but your bank here might.  Get a card from a bank or credit union that does not charge foreign ATM fees. 

It shouldn't take more than a week to get the euros. No harm getting them a month before.  And make sure you bring back euros for your next trip.  There will be a next trip. 

[NCteacherlovescruising]

Just now, marazul said:

They do not, but your bank here might.  Get a card from a bank or credit union that does not charge foreign ATM fees. 

It shouldn't take more than a week to get the euros. No harm getting them a month before.  And make sure you bring back euros for your next trip.  There will be a next trip. 

My husband works for Wells Fargo so we do all our banking with them. I believe they charge $5 to use the ATM. I assumed the bank that owns the ATM would charge. No?  I really appreciate how helpful you always are!  I hope you’re right about “our next trip!”  We keep saying this will be our only trip to Europe. 

[marazul]

48 minutes ago, NCteacherlovescruising said:

My husband works for Wells Fargo so we do all our banking with them. I believe they charge $5 to use the ATM. I assumed the bank that owns the ATM would charge. No?  I really appreciate how helpful you always are!  I hope you’re right about “our next trip!”  We keep saying this will be our only trip to Europe. 

Do check what WF charges for international transactions.  If that doesn't bother you, use their ATM card.  However, explore having a "travel" account elsewhere like a credit union (SECU, LCCU, Andrews FCU, etc.)  Why?  They might have lower or no fees for international transactions.  Most importantly, if your WF cards get compromised or lost, you will have immediate access to money elsewhere.  You should always have access to a couple of different financial institutions when you travel. 

 

In Europe, banks charge a very low fee on their ATMs.  The big load comes from some US banks and exchange fees.  Make sure you are using a bank ATM.  Exchange companies can charge you a hefty fee or exchange rate.  ATMs are more, or just as plentiful in Europe as they are in Charlotte.  The reason for using one physically attached to a bank office is that if there are any problems, you can walk inside and get help.

 

If asked, whenever you use an ATM, debit or credit card, always say you want to be charged in euros. If you say that you want to get charged in US$, the bank or merchant can charge you at their own made-up exorbitant exchange fee.  If you get charged in euros, the conversion is made at the lowest inter-bank rate. 

 

And, no doubt, there will be a next trip. 

Edited January 12, 2023 by marazul

[NCteacherlovescruising]

18 minutes ago, marazul said:

Do check what WF charges for international transactions.  If that doesn't bother you, use their ATM card.  However, explore having a "travel" account elsewhere like a credit union (SECU, LCCU, Andrews FCU, etc.)  Why?  They might have lower or no fees for international transactions.  Most importantly, if your WF cards get compromised or lost, you will have immediate access to money elsewhere.  You should always have access to a couple of different financial institutions when you travel. 

 

In Europe, banks charge a very low fee on their ATMs.  The big load comes from some US banks and exchange fees.  Make sure you are using a bank ATM.  Exchange companies can charge you a hefty fee or exchange rate.  ATMs are more, or just as plentiful in Europe as they are in Charlotte.  The reason for using one physically attached to a bank office is that if there are any problems, you can walk inside and get help.

 

If asked, whenever you use an ATM, debit or credit card, always say you want to be charged in euros. If you say that you want to get charged in US$, the bank or merchant can charge you at their own made-up exorbitant exchange fee.  If you get charged in euros, the conversion is made at the lowest inter-bank rate. 

 

And, no doubt, there will be a next trip. 

Oh, we have credit cards with other banks. We just keep all our cash accounts with WF.  Wells charges a 3% foreign transaction fee for purchases. I just got a Citi AAdvantage credit card. They don’t charge foreign transaction fees. I’m sure we have other city credit cards as well. 
 

We need to find an actual bank branch in Barcelona to get cash without incurring hefty fees?  Will that be difficult to find?  It seems like such a huge place!  With all the stories I’m hearing about pick-pockets there I’m scared we’d get robbed as we walked away. 
 

Thanks for the tip on telling them to charge me in euros!  

[marazul]

15 minutes ago, NCteacherlovescruising said:

Oh, we have credit cards with other banks. We just keep all our cash accounts with WF.  Wells charges a 3% foreign transaction fee for purchases. I just got a Citi AAdvantage credit card. They don’t charge foreign transaction fees. I’m sure we have other city credit cards as well. 
 

We need to find an actual bank branch in Barcelona to get cash without incurring hefty fees?  Will that be difficult to find?  It seems like such a huge place!  With all the stories I’m hearing about pick-pockets there I’m scared we’d get robbed as we walked away. 
 

Thanks for the tip on telling them to charge me in euros!  

It is a good idea to have a small cash account in another bank or CU that you can access with an ATM card for emergencies. WF charges the highest fees around. Use cards that don't charge foreign transaction fees.

 

You don't need to find an actual bank. Just use a bank (not exchange company) ATM. They are all over the place in Europe.  Just about every block. We prefer it if they are in the bank building, but it is not needed. 

 

And chill about pickpockets. Just be careful like in any place else. Use a crossbody purse with zippers. Your hubby should keep his wallet in a front pocket, never the bacpocket. And don't carry all your valuables with you. 

Edited January 12, 2023 by marazul

[mj_holiday]

IMO you can run yourself ragged trying to avoid fees on money exchange.

The first time I decided to get local currency at the airport on arrival, I was still somewhat drowsy or what ever happens after overnight flight, and hit an extra zero and got way more local cash than I wanted.  It sounds easy "Oh, just look for a bank ATM at the airport when you land"  Well, airports can be very hectic place and you (or at least I) keep going from one step to the next and suddenly I am outside the airport.

While fees will be involved, I get $200 worth of local currency at the airport exchange.  Now I am set for that taxi ride outside the airport.

Plus 

Yes, especially with Euros, keep some when the trip is over so you will have them the next time you go and won't have to fret about getting some.

Try to keep spending your change. Euros coins have higher value than what we are use to in the US and it is very hard to exchange these back to dollars.

As stated above, call your bank so your credit card/ATM card will be accepted.

Our credit union ATM card charged no fees when we used it in South Africa.

Yes, get credit card that does not charge international fees, and there are many out there.

[NCteacherlovescruising]

12 hours ago, marazul said:

It is a good idea to have a small cash account in another bank or CU that you can access with an ATM card for emergencies. WF charges the highest fees around. Use cards that don't charge foreign transaction fees.

 

I could open an account with a credit union to access cash in an emergency.  When you're saying WF charges the highest fees around, are you referring to ATM fees?  Five dollars won't be missed.  Or are you referring to Credit Cards?  I doubt we'll even take our WF card considering we have cards that won't charge a fee for purchases.

 

12 hours ago, marazul said:

You don't need to find an actual bank. Just use a bank (not exchange company) ATM. They are all over the place in Europe.  Just about every block. We prefer it if they are in the bank building, but it is not needed. 

 

And chill about pickpockets. Just be careful like in any place else. Use a crossbody purse with zippers. Your hubby should keep his wallet in a front pocket, never the bacpocket. And don't carry all your valuables with you. 

 

Noted

 

41 minutes ago, mj_holiday said:

IMO you can run yourself ragged trying to avoid fees on money exchange.

The first time I decided to get local currency at the airport on arrival, I was still somewhat drowsy or what ever happens after overnight flight, and hit an extra zero and got way more local cash than I wanted.  It sounds easy "Oh, just look for a bank ATM at the airport when you land"  Well, airports can be very hectic place and you (or at least I) keep going from one step to the next and suddenly I am outside the airport.

While fees will be involved, I get $200 worth of local currency at the airport exchange.  Now I am set for that taxi ride outside the airport.

Plus 

Yes, especially with Euros, keep some when the trip is over so you will have them the next time you go and won't have to fret about getting some.

Try to keep spending your change. Euros coins have higher value than what we are use to in the US and it is very hard to exchange these back to dollars.

As stated above, call your bank so your credit card/ATM card will be accepted.

Our credit union ATM card charged no fees when we used it in South Africa.

Yes, get credit card that does not charge international fees, and there are many out there.

We always call our bank/credit card companies when traveling, even domestically.  We do have credit cards that don't charge foreign transaction fees.  I'm sure we'll bring those with us.

 

Everyone assumes we will go back.  lol I hope you're right.  

[marazul]

13 minutes ago, NCteacherlovescruising said:

 

I could open an account with a credit union to access cash in an emergency.  When you're saying WF charges the highest fees around, are you referring to ATM fees?  Five dollars won't be missed.  Or are you referring to Credit Cards?  I doubt we'll even take our WF card considering we have cards that won't charge a fee for purchases.

 

Everyone assumes we will go back.  lol I hope you're right.  

I meant the credit card fees, but also the ATM fee for what you say.  Calculate what percentage that represents of your average withdrawal.  It’s  probably more than you get in interest.  Then again, it's paying for your DH's salary.  😄   SECU and other CUs in NC don't charge any ATM fees.