Chase Bank is selling Euros to its customers for $1.2957, but I see the Euro is trading at $1.178? Where can I get a better rate if I want to buy Euros before I leave to Europe in mid-July?
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My solution is to wait to get them until I arrive in Europe, and then obtain them from an ATM. If you feel you must have some in hand before you arrive, get the minimum with which you feel comfortable, so the lousy exchange rate is on a small amount of currency.

Type "currency AND exchange" in the text box at the top of this page to pull up more threads than you will want to read on this subject.

Hi
I've always found it best to have some of the local currency when I arrive. You can also get Euros at the airport probably, that's what we do before we leave.

Anyplace you buy euro stateside will be that bad or an even worse exchange rate.

Do not get them in the States, nor from a Bureaux d Change when you arrive. As Lesli says - simply use an ATM at the airport after you land. You will have to wait for luggage anyway so use the time to get money.

If you simply feel you MUST have some euro in your pocket before you leave home, limit it to $100 or less. But bear in mind you are paying 10? to 15? too much for each and every euro - a very expensive "convenience".

I agree - use the ATM for (usually) the best exchange rate. However, it's nice to have some cash available when you arrive, just in case. I remember going returning to the USA at JFK on Sept. 28th 2001 - only to find that none of the ATMs were working, as the computer networks had routed through the WTC.

clarification - Those question marks in my post were cent signs when I typed them . . . .

(I can type all the various symbols on my Mac but when they post they turn into ?)

Regardless...get your money THERE and use an ATM to do so. If you're really nervous you might get just a FEW Euros before you leave in case you cannot readily find an ATM in the airport but that isn't usually the case. I was nervous about doing this until I did it several years ago..ATMs are everywhere...what you MIGHT want to do is have a second, back-up ATM-friendly card in case the first one fails.
Also, call your CC bank and tell their security dept that you're traveling so you won't get a sudden denial when you've just found that "got to have it" item. Enjoy your trip.

The rate you see in the business section of the paper for currency is the wholesale rate. Said another way, the rate that banks and large currency brokers or multinational corporation get. The retail customer almost never gets offered currency at that rate, unless it's a teaser rate designed to make you forget a high transaction fee.

Banks and currency brokers will almost always add a markup to the rate that is a few percent above the published rate.

Personally, I think you still get the best rate from credit cards. Yes, there are sometimes fees, but all in, I find I get the best deal from AMEX Platinum.

The prices are all over the place today!
American express is charging 1.26 , you said chase is 1.29 and I just checked my Bank of America and they are charging 1.23 !

It's a crap shoot!

Hey guys,

Unless you are exchanging thousands of dollars the different exchange rates are trivial.

If it makes a person feel better to bring a hundred Euro with them, why not? The cost is only about $2.00.

I'm with you on that , Ira!

My peace of mind is worth 2 or 3 or even 5 dollars!

I don't understand you comment about peace of mind. How can you have peace of mind carrying large amounts of cash around with you? The main reason to use ATM after yoy are there is so you are not carrying money all the time- just get what you need as you go. Add to that the cost savings and it becomes a no brainer IMHO.

(BTW if you are buying 1000 euro and paying 10 cents more per, than you would from an ATM that is $100 - not $5. remember, European banks will not charge you for using an ATM so the only added fee will be the $1 to $3 your own bank charges.)

My worry would simply be having enough euros to get from the airport to the hotel, just in case the airport ATMs aren't working. As others have said, we're not talking big bucks for the peace of mind of carrying, say $50 worth of Euros with you.

Well, I always bring about $200 US. In case of ATM problems, I figure I can exchange some of that (if I cannot use a credit card.)

Hi janis,
Please reread my post.

Ira: my post was in response to Jody's - she is the one who used the phrase "peace of mind". Had nothing to do with yours . . . .

"My peace of mind is worth 2 or 3 or even 5 dollars!"

Consideration: Money changing is a business. It is not a government service paid for by taxpayers. We have KANTORS in Poland. They sit in small offices or booths 12 hours a day with their stock of money. Their rates depend somewhat on what their time is worth. Another cost is concerned with risk. Platinum card rates are usually low because the owner is financially stable. Shop for rates. Ask questions. Try some exchanges. Many Europeans will accept USA dollars in prefewrence to their local currency.They may be better than gold. Changes are coming. Euros may replace the dollar in Europe.