jonijam - that's about the cheapest way to do it (using ATMs in Europe). We always take out cash for daily expenses as we go, bring a no-exchange-fee credit card just in case but rarely use it.

Schwab Investors Checking
Capital One Visa CC
Bank of America atm card - for FR/DE/UK only - find the partner banks

Pretty much all you need.

Don't sell your EUR; save for next time.
You never know when you need cash for your next trip.

I always try to run my foreign currency down as far as possible before leaving Europe so I don't run into such a situation.

I just returned from France earlier this week, and had 23 Euros left. With such a small amount, I decided to immediately cash them in at the Travelex in the Phila. airport - received $27.51, which is about 1.20. Pretty horrible, considering I was routinely paying about 1.49 throughout my trip.

With 500 Euro, you'd really take a beating, so it probably makes sense to hang onto it until your next trip, unless you know someone else going soon that you could strike a reasonable deal with.

I think we need a new post entitled, "How to go to Europe and come home with 500 euros." I don't think I have ever come home with more than a few coins rattling in my pocket.