Best USA currency exchange

Mar 11th, 2004, 06:25 AM
  #1  
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Best USA currency exchange

Which USA based Travel office or Bank offers the best currency exchange rate (for example, from EUR into USD). Any input will be much appreciated.

kirlak is offline  
Mar 11th, 2004, 06:28 AM
  #2  
 
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Most of the larger banks in the US would offer similar rates of exchange. Depending on what US city you are in, I would look for a Chase Bank or HSBC bank location as well a CITI Bank
dhoffman is offline  
Mar 11th, 2004, 06:35 AM
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This is an interesting question -- the reverse of a question asked here nearly every day about converting dollars to euro in Europe.

Maybe some of our European posters who travel to the US can give better advice, but isn't the same thing true in the US as is true in Europe? Don't Europeans get the best rate by using their ATM (bank card) in a US ATM to withdraw money from their home account?

Or if it is only a small amount, it probably isn't worth worrying about where you do it, any bank will be similar, although it is sometimes hard to do in smaller cities or towns.
Patrick is offline  
Mar 11th, 2004, 08:01 AM
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You don't say where you will be traveling and this can make a significant difference. Except for a few major cities banks in the US often do not have currency exchange services -they really don;t want to be bothered with this since the need for it is so infrequent. When they do it their is a significant premium. Your best bet in terms of exchange rate is just to withdraw money from your checking account using your ATM card.
nytraveler is offline  
Mar 11th, 2004, 08:38 AM
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I live in the US, so I might be wrong about this....

But I'd imagine that you'd get the best exchange rate by using and ATM to withdraw dollars. Just as we Americans get the best exchange rate while in Europe by using ATMs to withdraw Euros.
Lesli is offline  
Mar 11th, 2004, 08:38 AM
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I live in the US, so I might be wrong about this....

But I'd imagine that you'd get the best exchange rate by using an ATM to withdraw dollars. Just as we Americans get the best exchange rate while in Europe by using ATMs to withdraw Euros.
Lesli is offline  
Mar 11th, 2004, 08:44 AM
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I'm sure the ATMs would be the best bet. However, in large cities you don't really have a choice. I live in Wash DC and the only place I know that does this for walkins is Travelex. They are also the only currency exchange place I've ever seen in the downtown area where a tourist might find one. I don't think banks will do it (at least not in DC) as they don't usually even have euro for their own customers, and order it.

I think there might be more currency exchange options in NYC.
Christina is offline  
Mar 11th, 2004, 09:02 AM
  #8  
P_M
 
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I agree that the ATM is best. Call your bank to see if they have any agreements with American banks. If they do, you can use that bank's ATM's and save a significant amount in fees and on the exhcange. If not, the ATM is probably still the best way to go.

Another idea is to buy traveller's checks in US dollars. In the US most stores, restaraunts, and hotels will gladly cash these for you without a fee. I have not always been so lucky in Europe.

P_M is offline  
Mar 11th, 2004, 09:58 AM
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Sorry - my experience with travelers checks is different. I had some left over from a trip several years ago and no one (local restaurants and stores in New York) wanted to take them. I ended up having to deposit them in my checking account.
nytraveler is offline  
Mar 11th, 2004, 10:14 AM
  #10  
P_M
 
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Interesting--maybe it just depends on what part of the country you are travelling to. It's been a number of years since I have taken TC's to NY, but they seem to work when I travel out west. Perhaps kirlak should TC's as a back-up, but try the ATM first.
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