For the last several years, we have been getting all of our euro at the ATMs when we arrive (sometimes have around $50 in euro when we arrive from previous trip, etc.) This coming trip, we are going with cousins, who have never been to Europe, and they insist that they can get euro over here in US through AMEX for as "cheaply" as we can get them with check cards over there. I don't want to mislead them, but I think that they are mistaken?

I don't do that and many others don't either. But if it costs them maybe $10 or so for a little peace of mind before going, why not let them do it? Meanwhile, have them get their 50 or 100 euro and keep track of what it costs them. Then when they get to Europe have them get the same amount of euro from an ATM. When they get home they can look at their bank statement and see exactly what those euro cost and what the difference in cost was. My guess is, it won't be enough to make a bit of difference in the grand scheme of things.

Ok, makes sense. Maybe AMEX gives decent exchange rates; I went to international dept. of bank here once, and the rate was terrible.

'Nuff said! Merci!

AMEX will not give them a good rate - but if they want to get just a very small amount to get them started - no big problem.

However -- if they think they can get euro as "cheaply" Stateside, they just might be thinking of getting a lot of euro at home. This would be a BIG mistake.

But some people just don't want to listen

Hi G,

Let them do what they want.

One day you will be able to bring up how they didn't listen to you about exchanging dollars for euro, and it will shut them up.

It is hard enough to convince people HERE of money changing strategies much less blood relatives.

I'm with Ira, let them do what they want.

Well, of course, I will "let them" do what they want and do not want to play the "I told you so" card.

Again, thanks, all, for helping me reality test!

I'd tell them that I'd back up any cash requirements they encountered in Europe before they came to an ATM.

If "cheaply" is an issue with them, tell them there's no better way than putting their ATM/Debit card in a machine when they get over there.

AMEX has a whole line of products, not all of which are available to just anybody, so I would be hesitant to wager on this question. If your friend is an executive at AMEX, he may have a golden goose.

If you really want the answer, you will have to find out what exchange rate AMEX will give them, and what fees they will charge, and compare that to what exchange rate their ATM card will give them, and what fees will be charged.

Don't forget that there are some card issuers that add, I believe, up to 3 percent to the exchange rate, and there are some that charge fees for using out-of-network ATMs.