jenlasyl

I am leaving for Paris Sunday.Would I be better off exchanging my dollars for euros at my bank before my trip? I've read advice on strictly using atms. Which option would leave me with the most money? Thank You!!

mamc

You would be much better off using ATMs - the exchange costs less and you are safer not carrying around lots of money. You might want to exchange enough to get from the airport to your hotel. There are ATMs at the airport but sometimes they are out of order or have long lines. Have a wonderful time in Paris!

Keith

The ATMs and purchasing with your credit card will leave you with the most money.

I like to have a little cash before I arrive there. Now I make a point of bringing some back for the next trip, but before, I would get a little from the main branch of one of the larger banks in my metro area or at the exchange booth in my departing airport. You will loose a little this way, it is up to you if the convenience and security of having some in advance, is worth it.

Keith

TopMan

If you "change" money at all, change just enough to get you to the first ATM, usually at the airport, and get your cash from there.

MFNYC

I exchange enough local currency to cover transportation to the hotel, tipping and maybe a quick bite.

ucsun

as soon as you get to the airport, pull out some euros. you shouldn't need any euros until you leave the airport anyway.

Budman

It all depends upon what you are comfortable with. I always wait until I get to the airport at my European destination. If the ATM is not working or out of money, most all public transportation take credit cards, including Taxis. Any taxi driver would have no problem taking you to an ATM machine on the way to your destination.

Push comes to shove, exchange $20-30 at the airport money exchange booth. I'm sure you'd get a better exchange rate than getting Euros at the airport in the States.

Again, it's all in what you will feel comfortable.

ira

Hi jen,

My suggestion is: At most change $50-100 into E before you leave. I do that in order to not have to bother with an ATM when I am jetlagged and slightly disoriented.

Otherwise, charge what is chargeable and use ATMs when you need cash.

WillTravel

This is a perennial discussion. I find that my bank charges a ridiculous exchange rate, so I don't use it for cash exchange. However, I found a local currency exchange bureau that has pretty good rates. For 100 - 200 Euros, the cost to me will be about the same whether I get it from this bureau or from an ATM. My particular bank charges me $3 CAD for each ATM withdrawal in Europe, although it does have the standard interbank exchange rate (as I mentioned cash exchange through my bank is terrible). So I plan to get about 100 pounds and 200 Euros to start off with, and will use the ATMs from there.

If you do get money at home, make sure to read up ahead of time on the going exchange rates and make sure you are getting a good deal.

Also, make sure your bank doesn't have any odd holds on your account. This happened to me last time and they didn't have any explanation as to why. I was able to withdraw only the value of $100 CAD at once. The bank did remove it immediately when my husband phoned up (he was at home). That's one reason I'm reluctant to rely entirely on ATMs.

jenlasyl

Thank You! I appreciate all of your advice. Thank you for being so helpful! Jenni

xyz123

Exchange before a trip? This is the 21st century and 21st century technology works very well thank you. There is not the slightest need to exchange before arriving at any international airport in this day and age. When you get off the plane, while you are waiting for your luggage, you can hit the ATM. And of course, even if you don't, chance are whatever your first mode of transportation will be will take credit cards.

spootiskerry

I went through AAA and had some Euro traveler checks and currency sent to me. I also got 50 pounds sterling for getting around when I get off the plane. We arrive late in Rome and the hotel wants cash, so I'd rather not be bothered. The exchange rate was reasonable...no delivery charge...got the money in 2 days. 1.31 euro and 1.98 pound (the last was a bit steep, but for 50...and convenience...) The rest will be on credit cards...not cash advances (for which the banks charge 3%). Lots of reasons...lots of options.

Keith

Just to clarify, I am not worried about a given ATM not working. I am worried about all of the ATMs being unable to communicate with my bank for a few minutes or hours and their refusing to give cash during that period.

It is not uncommon. It happened to me for the first couple of hours of my first trip to London and I have read about it happening to others.

Also, at the end of the long flight and going through customs, it is nice to have one less thing to worry about until after I have settled into my hotel.

But I would never tell someone that THEY had to get some cash before they go.

Keith

Flaca1

One piece of advise: COUNT your money very carefully. I was shortchanged 50 euros last week in Paris. Had to get paperwork at the Paris bank and then take it to my US bank for investigations. I am still in the process on recovering my $64.00! First time this had ever happened.

mikemo

Mostly good advice: ATMs and low cost credit cards (USAA Federal has no charge for first 10/month out of bank ATM and 1% V and MC vs. Citi's 3%).
M

suze

It's a matter of personal style and level of comfort between all the various means available. I carry $300-400 U.S. cash to exchange into local currency at a bank. I have an ATM card for withdrawing local currency from my home checking account. I am not a big user of credit cards, but carry one only for emergencies and large expenses (i.e., hotel room). Sometimes I take travelers checks as a final backup if it is a long trip, or if certain hotels won't accept credit card but do take the TC's.

suze

Oops, forgot to answer the question! I never exchange money at home before the trip.

Budman

I carry $200 in cash over, and return with $200 in cash on the way back. I take it each trip for emergencies, and am thankful I've never had to use it. ATM -- technology is wonderful.

mikemo

Full disclosure:
One may have a small (less than $10.K offshore MM or similar account) for household or travel expenses.
That was obviously the way to go since the USD high in 2/02.
Many have done well with those.
M