Where is the best place to exchange US$ for Euro in Munich? Are the changers at the airport (MUC) reasonable; at least to get some seed money before going into the city?

Does anyone know the actual current street rate to expect?

Any information along these lines much appreciated.

You really won't want to exchange currency anywhere. Use you normal ATM/debit card linked to your checking account. By far the best way to get cash.

Exchanging money is just shoveling it outhte window - this will cost you 8 to 10% above the Interbank rate.

Much better to payfor as much as you can by credit card and pull cash from your checking account with an ATM card. This will cost you only 2 to 3% above the Interbank rate. (The Interbank rate is the one you see listed in the newspaper or online daily. this rate applies only to large - as in multiple millions - exchanges between banks or other major financial institutions.)

Nobody really cares about the interbank rate or anything else...they care about CONVENIENCE and, fortunately, using an ATM card to get that 'seed' money is both convenient and will save you money.

Those exchange booths make their money in one of two ways: they give you a BETTER exchange rate than the ATM machine but they will charge you a high commission. OR, they will advertise "no commission" but give you a poorer exchange rate.

You've received good advice above and I. suggest you follow it.

I use the ATM to get cash too.

As a back up, I always have about US$200 in cash tucked into my wallet - IF for some reason my ATM card does not work when I land, then I can exchange some cash to get me by until I sort out the problem. This came in handy once when my bank blocked my card - I had called them to let them know but whatever. I called them again and my card was unblocked - but I was happy to have cash in the mean time.

The "current rate to expect" changes hourly; no one can tell you what the rate will be on arrival. Google for interbank rates the night before you leave and you'll probably have some idea of what to expect when you land.

And yes, use the ATM machines, not any sort of bank or currency exchange place unless you want to fund some banker's retirement.

Thanks for the input.

This is an interesting conversation; in Russia I got a considerably better exchange rate using cash as opposed to ATM; in Turkey the exchange was about the same. SE Asia and South America have often had a better exchange for cash as well. It must be that with a strong Euro verses a weaker US Dollar the demand for the Green Back is not there due to lack of inflation pressure in the Euro Zone and all that sort of economic stuff.

About eleven years ago, the first time I purchased Euros, the cost was about US$00.88 = 1€; how the times have changed.

I think this is a function of first versus second or third world.

In europe - as in the US - almost all banking (and the rest of the economy) is electronic. Naturally it will be differnt in a country with a cash economy and a potantially unstable currency.

Contact your bank to see if they have partner banks in your destination so you don't have to pay any cross-bank fees at the ATM. I use Bank of America and they partner with Deutsche Bank. I don't have much trouble in places like Munich finding a Deutsche Bank branch and ATM.

"<i>It must be that with a strong Euro verses a weaker US Dollar the demand for the Green Back is not there due to lack of inflation pressure in the Euro Zone and all that sort of economic stuff.</i>"

It has nothing at all to do w/ the exchange rate. More as nytraveler mentions, a function of a more sophisticated/safer economy/banking system than in the less developed countries.

ATM. . .the only way to go. Just advise your stateside bank ahead of time that you will be using your ATM in whatever countries that you will be visiting. Othewrwise. . .the ATM card wmight not be recognized.