NYC_05

I'm leaving in two weeks for Sorrento, Italy (flying direct to Naples from NY) and I've read the posts for the conversion, but still have a question that I hope someone can me with...I found the site: xe.com (which I saw was mentioned in one of the threads) however, they don't deal with cash soo...Can anyone tell me where in NY they have converted USD to Euros at a good rate? because I'd like to take some euros with me...I'm a AAA member, but their rates don't seem too competitive...Thanks!!

cmt

I always get it done at one of the American Express offices in central NJ. I haven't comparison-shopped, though, since there aren't that many options away from the city. (You do not have to be an American Express member to change currency there.)

DeeDee

I'm in California, but this is how I get foreign currency ahead of a trip. Lousy exchange rate, though, but nice to have a few hundred on hand. You need not be a Bank of America customer and they deliver to your door. Here in California it just takes 2 days for delivery.

http://www.bankofamerica.com/foreigncurrency/

Travelnut

I have used online Bank of America as well, but I have it delivered to a local branch - no delivery charge, I p/u at my convenience (someone has to sign for the delivery to your home).

Travelnut

p.s. if you only want a small 'starter' amount, like 100€, then just go to AAA or get it at the airport. You're not talking about more than a dollar or two difference. Or call a major bank (are you in New York City as your moniker implies?) and see if they keep foreign currency on hand.

kalikiana

What I always do is just get a little bit of money before I go, and then just make a withdrawl at an ATM when I get there. I think my bank charges like $3.50 for the withdrawl, but the exchange rate is great.

ira

Hi N,

As noted, for under $100, get euros at the departure airport.

It is more conveninet that making a special trip to a bank, etc.

NYCTravelSnob

I haven't found better rates than those offered here:

Peoples Foreign Exchange
575 5th Avenue, New York, NY 10017
(212) 883-0550

They're in the L'Oreal building, 47th & 5th.

platzman

Ira, what's the typical exchange rate at the airport booth?
And is there usually an extra commission or fee?

kjosker

Try your local bank. My local bank provides currency exchange, no fees to me as a multiple account holder with them, at the closing rate of exchange. The only considerations are that the exchange be in multiples of 100, either dollars or euros, and it takes a day, two at the most for delivery to the local branch. Lastly, there is a soft maximum of 3500 per exchange. I say soft, because I at one time exchanged $5000. into Euros with no questions.

nytraveler

You're not going to get a good rate anywhere in the US. Just make up your mind you'll get a bad rate on whatever you exchange.

Minimize the amount ($50 or $100 should always be enough to get you to a working ATM) and save yourslf a lot of trouble by doing it at the bureau de change at the ariport.

Ann1

Just a word of caution. If you bank in the NY area, be careful of J P Morgan Chase Bank. I use two banks. I put money in each checking acct in case I have problem with one. I used the Chase ATM card once while in Italy and they charged me $12. extra for what they call "converting" the money. The other bank charged me nothing for 5 withdrawals. They didn't have the carges in the withdrawal either because I checked it. Needless to say I won't be using them anymore.

mcnyc

I'm traveling to Milan next week for that much needed vacation, and while I have some euros on me from my last trip, if need be, I exchange my money from People's Exchange, like NYCTravelSnob suggested. The last time I exchanged money, I believe it was a $2 surcharge, and about 5-8 cents above the market rate. They're in the Atrium, on the 3rd Floor.

Good luck. And everyone is right, the exchange rate is way better abroad. In Madrid, I got Euros at a bank at the market rate! No fees! I was so shocked. But let me tell you, this time around, when I'm in Barcelona, I'll be exchanging my money for my next trip.

Ann1: which bank was the one who didn't charge any w/d fees? I called up Citibank a few minutes ago, and got 2 conflicting responses to my question regarding fees. One said the charge is market rate plus 1% of my w/d amount. The other told me it was straight market rate, no extra fees as long as I w/d from a Citibank ATM. I don't mind either way, and will make sure I'm at a Citibank to get my money, but would love to get my Euros w/o extra charges.

Has anyone else dealt w/Citibank ATMs abroad, and what was your experience?

Thanks!
Margaret

NYC_05

Thank you all for your responses. They are very helpful! as always!

I had a feeling that the exchange rate would be better in Italy...Does anyone know of a place in Sorrento (like the one that 'mcnyc' found in Madrid? no fees? I think I heard that sometimes hotels offer a good exchange rate?

Ann1: I actually do have the Chase ATM card...I had used the card in Ireland about 5 years ago and they only charged me a few dollars for each ATM withdrawal...Thanks for the info, I will double check...Would it be possible to share the name of the bank that you used that didn't charge you for the withdrawals?

Thank you all!

mcnyc

NYC_05, hotels HARDLY give good rates. You're better off going to a bank in Sorrento, unless you absolutely need the cash on the spot.

The spot I found in Madrid was purely by accident. We went to a bank who told us to go to a Thomas Cook outfit, but my friend and I looked at the exchange rate there and just walked away (and thinking to ourselves, what is this bunk about getting better exchange rates abroad when it's the same or worse). As we walked away, I noticed a few exchange places across the street, and the first one we walked into was the one that gave us pretty nifty fee-less exchange.

I tried looking for the receipt, but it's lost to time now. It was on the corner of Callao and Gran Via, if memory serves me correctly.

If you have the luxury of time in Sorrento, walk around and look while you're shopping, etc. You'll never know what you can find, which you can then post here

Margaret

NYC_05

Hi Margaret,

Thank you for the info...If I find a place with good rates, etc. I will definitely post it...I'll actually have plenty of time in Sorrento...It's going to be the home base for the vacation...

Happy 4th!

PhilF24

ttt

Mary_B

Although I usually do just that - get currency before I travel - I did not this time and did not have a problem. Banks are everywhere and ATMs are plentiful. I have used Bank of America and a long time ago, used Chase Manhattan to order currency. Being in NY, I would think you could walk in just about any bank and get currency - like one poster stated, just get 50-100 Euros - you aren't going to lose that much on the exchange because you aren't exchanging that much. I mean the peace of mind is worth it, isn't it?

mcnyc

Actually, many banks in NY don't carry foreign currency. Very weird, especially when you consider I work near Wall Street. I also like having some Euros on me when I get off a plane, one less thing to worry about, and really, the difference is negligible.

NYC_05

Thank you!!