Purchasing Euros in U.S.
 

Ok, I know that it is better to exchange U.S. currency once we get to Italy, but if one were to purchase Euros here, from where/whom would I get the best exchange?

Thanks!

It's not better to exchange dollars for euros in Italy, it's better to use your ATM card once you get to Italy. Any exchange facility will be a rip off on either side of the Atlantic.

Personally I don't think it's necessary to get euros here. Every major European airport has an ATM and you can get them just as you arrive. But if it makes you feel better to have a few in your pocket before leaving, I would check with the American Express office. You will not get a good exchange so don't get too many from AmEx. Get the bulk of your cash when you land in Italy and find the ATM.

If you're in NC (the name suggests that, doesn't it), as I am, you can get euros from your local Bank of America. Check the rates; they were pretty close to other rates the last time I used them (last year) and they were convenient.

I live in So. Ca. I like to have some money on hand when I arrive so I always get a few hundred Euros from the American Express office in the mall before we leave.After we arrive in Europe if we need more we use our ATM card.

This topic gets discussed a lot on Fodors. The general consensus is that your first point is not correct. It is not better to exchange US currency in Europe. It is better not to exchange US currency at all.

I travel to Europe 3-4 times every year, and I haven't changed US currency to Euros once, nor do I carry travellers checks.

I use my ATM card, linked to my checking account, at an ATM upon arrival airport in Europe.

I'm sure others will chime in with their opinions.

As to your original question, many people ask their bank to send them some euro, maybe 100-200 $ worth. You'll pay about a 7-8% exchange rate hit (buying euro in the US vs selling $ in Europe), plus shipping and handling fees. Net is about a 10-15% hit compared to using your ATM card upon arrival.

Some people just like to use the exchange bureau at the departing international airport - that seems like the most convenient to me.

I don't know the rules in NC, but here in TX, Bank of America will not exchange currency for non-customers. If you are not an account holder of BofA, be sure to ask if they will do it.

I just got back from Europe, I paid so much in ATM charges, I have not calculated the percent as of yet but I will and let you know. In addition, I was charged and extra fee for each Visa transaction. Both are with Bank of America.

Thanks everyone! You are correct about my wording, as far as "to exchange U.S. currency" as opposed to using the ATM. That is the only way to go. I should have been more specific - I want to give a gift of some Euros to someone for her vacation in Italy. For that reason, I need to make my purchase here in the U.S.

By the way, NC = Northridge, CA. Also misleading - SORRY!

Ciao -

If you have an American Express card, take your checkbook, show your card, and get Euro at any Am Ex office. I live on the Westside, so I go to Beverly Hills to their office there.

Toby, BofA has several partner banks in Europe so you can use those ATMs with no charge. But if you don't use a partner bank, there is a $5 fee which is a rip-off. I am a customer of BofA, but I also have a credit union account that I use while traveling. The credit union only charges $1 per w/d.

I know this advice comes too late for your recent trip, but next time you travel, contact BofA. Find out if the country you are visiting has partner banks. If they do, then use those ATMs. If not, then open a small account somewhere else and use that ATM card.

Someone mentioned that airports would have an ATM. Where else can I expect to find an ATM? I'll be in Venice, Florence, Tuscany and Cinque Terre.

Thanks! I love this list!

modglila: &quot;<i>Where else can I expect to find an ATM?</i>&quot; Oh - about on every street corner. Don't worry - you will find cash machines everywhere.

Just curious - From the replies to PamNC's question it seems that one does not have to produce a valid airticket when purchasing foreign currency?? Is this so?

Sorry, meant to add from Am ex/Rennies Foreign Excange or bank in the USA!

tod--I've never had to show anything to buy foreign currency. What would an airline ticket have to do with it? Or did I misunderstand the question?

P_M, BOA will sell foreign currency to non-customers via their website. It can be mailed to an address (where the pkg has to be sign for) or you can pick it up at a local branch. For orders &gt;$1,000 there is no delivery charge. The exchange has been around 5.5% the last 2 times I did this. For the past two years, I have been getting euro from the ATMs and bring back 100&euro; to start the next trip.

I would try a big bank in your town or city. In NYC, Chase bank sells them, as do many other banks.

Living in San Francisco, I just called my bank's 800 number, got transferred to some international currency, or whatever that department is, and told them how much I want. I find the rate to be very close to that in Onanda, and $5 additional for the whole transaction.

If ordered in the morning, the currency will be in the branch of my choice the next business day. It I miss the deadline calling late, it will be on the 2nd business day.

I am one of those nervous travelers who must have 1-2 days worth of foreign currency on hand while still at home :)

Tod, anybody can walk into Bank of America and exchange cash into any currency. You will be charged for that, of course, but no ID needed. Same goes for AmEx.

I never exchanged over $100 worth of US currency, so don't know if there are any limits. I hope there are to avoid money laundering.

RufusFirefly - Question not misunderstood.
The fact of the matter is, we here in South Africa have Foreign Exchange control Regulations, which means we cannot buy foreign currency unless we are planning to travel.
Show your ticket which must have a travel date of not more than two months, and they will give you the dosh(and stamp the ticket because when you land in France lets say, the French won't let you in unless you can prove you have enough money to support yourself during your stay). Same goes for USA/Far East/Australia or anywhere for that matter.
Presenting a credit card won't do it either unless it's supported by a letter from the Bank where the card was issued.
Don't you feel kind of free all of a sudden?