When to purchase Euros

[DaDead]

We are going to Europe at the end of November. Should we purchase Euros now in Hawaii, wait 'til we get to New York in November, or just get them from the ATM machines in Barcelona? Does anyone think the exchange rate will go down between now and November? I've never had to purchase foreign currency - so any kokua (help) will be appreciated!

[Essiesmom]

Your best exchange rate will be from the ATM machines in Barcelona. EM

[Jeep Girl Loves Cruisin']

We exchanged for some before we went to Europe ( at our local AMEX office), but needed some extra when we got there. We got a better rate getting them from the ATM in Italy, net time-we'll just get them in Europe when we get there.

[pris993]

We purchased some Euro's in US about 1 year ago, when rates were better because we knew we had two trips. I have been watching the rate all summer -- has been above 1.40 the whole time.

 

As others have said probably would do better in Barcelona.

[Keith1010]

I always recommend getting them at the ATM Machines. Just be sure to notify your ATM and Credit Card companies about your travel including dates and itinerary so that they do not think this is fraud. Enjoy.

 

Keith

[Host Kewlguy]

Definitely get them once you arrive in Europe.

[navybankerteacher]

Unless you are certain that exchange rates will move against the dollar,you should wait and use ATM's overseas: they ALWAYS give a better exchange on any given day. Any feelings about which way the exchange rates are headed should reflect the fact that today's rate does reflect the future expectations of the market.

[CPT Trips]

Yeap - ATM there. As a PP said, notify your bank of the trip. Also ask about what fees they add for foreign transactions. I also check this with my credit card companies. So are a bit on the high side, so I use the no cost ones.

[pmfm]

Your best bet is to get your Euros at the ATM in the Barcelona airport. It's very visible as soon as you come out of the area where you pick up your luggae. I think there's 2 ATMs there but just look for the long line of people with the same idea. Don't worry the line moves pretty fast.

[Been There, Planning That]

We too used ATMs on a winter cruise, but found that the ATMs we used would only spit out between 200 and 300 Euros. We prefer to take out larger amounts to avoid repeated service charges.

 

We had some back up Travellers' Cheques, for a three week post cruise land portion of our holiday, which were cashed at a 2% premium. Since we get these free, they proved to be the cheaper route as we buy them when rates are more favourable.

[chipmaster]

We are going to Europe at the end of November. Should we purchase Euros now in Hawaii, wait 'til we get to New York in November, or just get them from the ATM machines in Barcelona? Does anyone think the exchange rate will go down between now and November? I've never had to purchase foreign currency - so any kokua (help) will be appreciated!

 

If anyone can predict the trend in Euro/dollar do please let me know so I can make a currency play :D

 

As to whether you get your Euros before or at the ATMs when you arrive depends on how much you need. Getting them at a bank before you arrive you'll be charged some currency exchange fee ( 1-5% YMMV), but I think they usually offer going rate for euros/dollars. If you need a huge sum thousands of euors this may be your best option.

 

If you only need a few hundred then ATMs! You can find them in every airport and I've never had any problems with my BofA or fidelity ATM cards. They generally provide market rate for exchange and only the $1-5 dollar out of network fee which works out to < 1-3% exchange fee. Most ATMs and bank accounts limit the maximum amout for any single withdraw as well as daily limits to prevent fraud and thus for thousands of euro needs the ATM is less than ideal.

 

Good luck

[pmfm]

We too used ATMs on a winter cruise, but found that the ATMs we used would only spit out between 200 and 300 Euros. We prefer to take out larger amounts to avoid repeated service charges.

 

We had some back up Travellers' Cheques, for a three week post cruise land portion of our holiday, which were cashed at a 2% premium. Since we get these free, they proved to be the cheaper route as we buy them when rates are more favourable.

 

The largest amount I've ever taken from an ATM is 400 euros and that was in the Barcelona airport. I think that may have been the maximum you could take out but I'm not 100% sure. I've taken lesser amounts from ATMs in other European cities.

 

My atm card is from TD Bank (formerly Commerce Bank) and they reimburse any ATM service charges - that's why I like using it to get euros. Commerce used to operate in northeast US - I think that TD Bank which took them over is a Canadian bank.

[Gail & Marty sailing away]

Buy them when you get there