"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."

Ah, so they moved the exchange rate to their advantage, took that money and left you thinking you had been charged no fees. Many do that. :-)

how many euros did you get for that $100 USD?

>>and they gave me an exact exchange <<

Since you are only talking €100 you didn't lose a fortune but what was the 'exact exchange' they used. They do not change money for free.

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

Has the policy changed? because that was not the case when I did electronic transfers into my French account--nor was I charged on the American side. What xe.com told me was the amount to be deposited was the actual amount deposited with no charge.

We were not charged either. We use B of A (relunctantly and only for international travel) because if you need cash you can use the debit card for free at all "sister" banks. Like Barclay's in England, Paribus in France, etc. Also check out Charles Schwab banking services, my Son in Law said they are exceptional. They've been traveling around Europe the last 6 months.

Remember don't use credit cards to get cash from ATM. Nightmare fees.

Actually I've travelled extensively in Norway, Stockholm, London and never exchanged any money period. I used my Visa card to directly pay for everything. You get a much better exchange rate too.

In fact I've heard Norway and Sweden are heading toward being a cashless economy.

Good !

Also beware of places that present your bill with the offer to convert the charged amount from either Euros or Pounds to US dollars. If asked decline to allow them to do so.

<i>if you need cash you can use the debit card for free at all "sister" banks. Like Barclay's in England, Paribus in France, etc. </i>

No more, the last time I checked. Either the $5 fee is charged, or the 3% conversion fee.

...I used my Visa card to directly pay for everything. You get a much better exchange rate too. ...

If on the same network, the exchange rate is exactly the same whether it is a credit card or a debit card. Fees added maybe different but the starting point is the same.

My son in law said his Charles Schwab banking account doesnt charge the fees but you must use specific ATM with approved bank. Same with B of A. If I use Barclay ATM in the UK I'm fine and am not charged a conversion or bank fee...but a non approved bank I'll get fees. That is in a written agreement statement with B of A. But I don't use ATM's anymore.
I strickly purchase everything with CC. You get a better conversion rate.

I too get the same conversion rate whether I'm using CC or ATM. Perhaps nanabee's bank is adding fees she thinks a actually a worse conversion rate.

I got 91€ for $100

from the BofA site:

<i>Keep in mind that when you use your debit card to withdraw money from an international ATM, Bank of America will assess an international transaction fee of 3% of the converted U.S. dollar amount</i>

whereas my credit union charges only 1%. Over a six week trip it adds up.