So, I'm going to Brussels in a few days to stay with my aunt for a month. I still haven't sorted out the money situation. I don't have an ATM card, so I can't make withdrawals while I'm in Europe. What is the next best thing? I was think about just bringing cash and exchanging it there, but I don't really want to pay >8% to exchange my $ to €. Also, I won't have significant expenses like food or travel. I just need money for stuff like museums, cafés, shopping, etc.

Well, not having an ATM card is a big downer, then, because pretty much any other method of obtaining cash will cost you a small fortune. Maybe others will have better suggestions, but I would ask your aunt to get you euros for cash at the current exchange rate and give her dollars or whatever currency is yours, realizing that it will cost HER money to deposit it in her account, and maybe up to 8% also, and you should pay her that. Is there a reason you didn't get an ATM card before this jaunt to Europe?

I live in Belgium and the only exchange booths I've seen are all in touristy places. I never bothered looking at the rates.

Can't you get a prepaid credit card at least ?

You could do a wire transfer to your aunt who could then use her ATM card to get you cash -- but most American banks charge very high fees for transfers.

Unless you can get an ATM card before you travel, you'll just have to bite the bullet and spend the extra $$ to exchange.

And every European bank I know, including mine, charges the recipient for receiving money into an account.

The prepaid credit card is an option -- but very high fees so it would be convenient and safe -- but will cost you.

Your options are limited if you exclude a debit card because most other options will push 10%. You might look at pre-loaded debit card. So are very expensive so read the fine concerning monthly charges, reloading, etc., very carefully. A couple of years ago the Wal-Mart preload card was fairly reasonable with fees around 5%. Good luck.

Alright, thanks everyone. Turns out my aunt had my mom order $1000 worth of hair to take with me for her. I think I'll just ask her to pay me back in euros, then I'll pay my parents back in USD once I get back.

I think bring cash would have been okay, the best you could do, except you are going to be there a month. That's a long time. Yes, exchange booths are always in touristy areas, that's the whole point -- tourists are the ones who need them. I don't know about Belgium, in some cities, you can find some with fairly competitive rates, actually, as it is a low overhead business, say at a cost to you of perhaps only about 3-5%. So maybe bring several hundred dollars that way. If you really think that's all you'll need, maybe stop there (but for a month, I doubt it). But you may only find booths that do cost you 8-10%. They are usually better in city center than at the airport or train station.

I would also look at some of the pre-loaded debit cards and find one with the best terms. I remember reading about one that wasn't too terribly bad if you were smart about using it. Maybe it was the Walmart, don't recall. I really doubt if you can do what you want for less than 8% cost, though.

If you belong to AAA (something I doubt) or know someone who does, you could consider getting their Travelmoney card, here are the terms in my area, not too bad
http://midatlantic.aaa.com/Travel/VisaTravelMoneyCard

So it costs $5 to get ($10 if you aren't a member), there is only a 3% foreign exchange markup and a $3 ATM fee. That isn't really that bad, better than cash, just dont' take out a lot of small amounts so you don't have a lot of $3 fees. I think there is a fee to cash it out or admin fee if you let it be dormant without using it all up, so just make sure to use it all up. There is also a fee for reloading it online (which I guess you couldn't do anyway) so try to make a good guess as to what you will need without going too far over.

great idea . . . extensions I assume. Otherwise, just too weird to think about

oh -- I was posting in response to the the hair . . .

That is your best option if your Mom and Aunt agree.

Maybe you can get an extension on the hair.

Seriously though folks and I ask the following out of ignorance not knowledge, will it be a problem to take that much out of the US or bring into Belgium?

If it works, then we have a new form of currency and will blonde hair be worth more?

>>Seriously though folks and I ask the following out of ignorance not knowledge, will it be a problem to take that much out of the US or bring into Belgium?<<

No -- it is under $10,000 and €10,000 so out of the US and in to Schengen would be fine.

In fact the hair might raise more eyebrows. . . .

Why not just go to your bank and get an ATM card? Any bank in which you have an account in good standing can get you a card on the spot. Then you wouldn't have this problem.

It is possible the OP is a teenager w/o a bank account . . .

It is not the cost of the hair, but ia the commodity itself permitted.

When the euro was implemented in 2002, more than 80% of the exchange offices in the eurozone closed, which means much less competition now. If you need to exchange money, try to find places with several offices in competition, such as Bruxelles Midi where the Eurostar arrives.

When I was young, before Internet and at the time of Amex travelers check, one way to obtain currency was to go to the bank and ask them foreign currency. Then I went to the bank to sell it. Maybe the aunt could go to her bank and see if the rate is better there. I think you know have to ask beforehand, because banks don't keep notes anymore (even in our own currency).
Anyway - asking the bank might be an idea.

I ended up not having to spend any of my own money, but I did exchange 100 USD for € at the gold exchange and they gave me an exact exchange without taking a cut.

That's good.