I'm not sure why they were told to get so much, as they can get a better exchange rate in Europe. I have never taken more than €100, usually €50.

You will have no problem changing money in NY at American Express or Thomas Cook or at a bank.

Most airports in Europe have several ATMs & Money Exchange kiosks within feet of the arrivals area (most will have them in the luggage collection area as well). Just go to one of them and get some money. The rate they'll get will be far better than in the US

How much difference are we talking about? The exchange rate today is $1.38=1,00 euro.

Most banks will order foreign currency for their customers (must have an account). They rarely have it on sight anymore.

While having 100 euros in hand might not be a bad idea, there's really no need to have more. Just be sure you have an ATM card with a 4 digit PIN.

Could there be a reason the tour group is telling them this? That is different from traveling on your own?

I guess for me, if I were paying for the (hopeful) expertise of a guided tour, I'd do what they asked.

Maybe they told them that because they are going to have the transport waiting for them at the airport and they don't want to wait till they find the ATM there. Or maybe they have a excursion or something like that on the first day and they have to pay in cash, so they want to be sure that everybody has the money (you know, it's a group..maybe some are not first time visitors and know how to do things better but some of them not)

One obvious reason is a tour group doesn't want to have all their people running around the airport looking for an ATM. The difference in buying them in the States will be a small amount - I'd be surprised if it amounted to $10. We always feel better with some Euros in our pocket "just in case". Have them phone their bank ahead of time and order the 100 or 125 Euros. They should be able to get them in 2 or 3 days.

I don't mind paying 5 or 10 dollars not to have the bother of finding an ATM. I live in a relatively small town in FL, though it is within the major tourist areas, and my local Bank of America has a currency exchange desk. Or use chase online or an American Express office, you can get the bills right there no need to order. We travel 2 or 3 times a year to Europe so I always have leftover currency for the next trip.

I completely ditto "robjame"'s post above. Phone your bank. Our bank orders them (or we order directly from the 800# from our bank) and they send directly to our home OR to Local bank branch.
I, too, would do what the tour people. advise. There must be a reason (and it sounds sensible to me). My husband and I are independent travelers and always get quite a few euros before leaving home.....and supplement at the ATM machine after a week or so if necessary. ( we charge the hotels, but pay with euros our gas, restaurants, etc.)
(hope this doesn't open up "a can of worms"....this subject has been hashed over enough on Fodors talk!)

You can exect to pay 6 to 10 % for currency in the US through a bank or travel service. And around 3% if you use a debit card at an ATM in Europe. We always take a 100 Euro with us so that we don't have to find that first available ATM. And we try to avoid using stand alone ATMs in airports and similar locations. Perfer using an ATM attached to a bank when the bank is open.

Some Bank of Americas have foreign currency available in the branch, otherwise they will order it for you. I am sure it's the same with most banks.

Last time I went to Europe I did not buy Euros in advance but this time I will as I have to give the landlord 800E upon arrival and I am sure the ATM will not allow a withdrawal that large.

Hi vivi,

The ATMs will give you as much as you want (in increments of about 250E per transaction).

It's your bank that sets your daily and weekly limit.

Have them raise it.

Also, if you and your spouse each have an ATM card, you double your daily limit.

If you have 2 accounts, your daily limit goes up 4x.

Odd, I thought Pam1951 was asking where to buy euro not asking if she should.

I have a friend who works for a bank. As its employee she doesn't pay the fees say that I would. So, I tell her I want - say 400Es - she buys them then lets me know how much I should reimburse her. Easy!
So? Got a banker friend?

My husband and I, always exhange some at the airport(JFk). Then at the Travelex at the airport of destination. Is that a bad idea? He says the hotel has a better rate, but then it's not always the same for every hotel. We end up all the time excahnging as much as we could at the travellex if they have a promotion which lowers the commision rate, and the exchange back commission is waived after travel.