Best way to exchange US dollars for euros

Are you asking about physical US dollars?

The best way to get Euro is to use your bank's ATM card and get them out of an ATM in Paris. You get a much better exchange rate. You may not need a lot of cash anyway. The last 2 trips I've done most everything on my ApplePay app.

Exchanging physical cash is inherently inefficient. Humans are involved that need to be paid a living wage nd expensive rent for the location. ATMs have no humans and the footprint is tiny. You get Euros that are stored in the machine, not just for tourists, but locals as well. The exchange rate is taken care of by the card network at the best possible rate.

Decline any offer that shows how many USD you will be charged, since it will be worse than what the network will give you, you just don't know exactly what that will be. Use real bank ATMs, not Euronext or other ripoff outfits.

Take from your bank that has no foreign transaction fees or out of network fees. If that is not like your bank, open an account at a bank that does not. Credit Unions and Community banks are often the best.

always at a bank ATM

Read the TRAVEL TIPS section here on this site - lots of good info on this under the MONEY section.

Do not take US dollars to Europe with the idea you are going to walk into a bank or whatever and get Euros for them. Take your ATM card and then use a European bank ATM to get your Euros for the best fees or no fees depending on your bank.

The best way is to do a search on this forum.

We arrive with usually 100€ easily exchanged at our local bank. The remainder of our trip, usually around 3 weeks, we rely on our credit card or an ATM. We use very little cash other than tips to guides.

Absolutely agree with everyone about using a bank’s ATM upon arrival in Paris. I wouldn’t take out too much; I have found every trip needing cash less and less and ending up taking some home (or spending in airport).

One more word advice regarding ATMs (and this goes for paying via credit card as well). You’re usually offered the choice of Dynamic Conversion (in currency of YOUR country) or Local Currency. Always opt for Local Currency and not dynamic conversion. Dynamic Conversion usually comes with a poor exchange rate and other fees that can make the transaction more expensive than if you simply made it in local currency.

BJL's advice is gold here. The new grift is dynamic conversion. You go to the ATM and it offers you an exchange rate and you click yes -- and what that does is add a layer to the process that will cost you several % more. Always decline and proceed and you will get Euros at the international rate plus the built in small conversation rate. click that you agree to the conversion and you pay a lot more. The machine presentation makes it seem like you have no choice i.e. that i tis 'informing you' of the rate, but that is not so, it is asking 'will you pay us a bunch of extra money?' and you can decline that.

In stores you may be asked if you want to do the transaction in dollars and you think 'well I pay my bills in dollars on this card, so that makes sense' -- if you fall for that, you will pay an inflated exchange rate that bolsters the store's profits. Essentially you are paying the conversion twice and the first time at an inflated rate. It is easy to fall for this the first time you encounter it. We saw it a lot in Spain and the last couple trips to France we are setting it now crop up there at stores like Galleries Lafayette. It is a scam/grift to be avoided.

Yes - I am talking about physical US dollars. BTW I’m acutely aware ATM is the most effective way to obtain Euros.

Cliff, just go to an exchange house. They are all over the tourist districts. In the big scheme of life a few pennies here and there is not the end of the world.

Have fun

I was just in Florence. While talking to a couple at the train station, the husband went to exchange US$$ to Euros. He was charged 20% and was told the fee would be less when he changed €€€s back to $$$s, just keep the receipt. They didn’t try using their bank debit card. It was not their first visit to Europe. Their money, their choice.

I just checked an exchange house here. Its USD to HUF and the rate is 350. Visa says 360. I wont sweat the difference on a few hundred dollars is I need it to enjoy the trip. If someone paid 20% they dealt with a dishonest broker. I presume there a pickpocket in Florence too.

When I see things like this, I remember a couple I saw when I was checking in to come back to the United States. They were at the Delta agent next to me, begging to be allowed on a plane. They had flown into Paris about 48 hours earlier and they brought all their spending money in cash becthey don’t believe in credit cards by the way. ( we all know this because they were crying and begging Delta to let them on the plane because they had no way to pay the new fare cost. ). Sometime between arrival and this moment they had lost all their cash I don’t know if they’ve been pickpocketed or just lost it. But the vacation was completely ruined. I don’t know if Delta let them an earlier flight or not, but it was a reminder to me never bring more cash than you can afford to lose without your vacation being ruined. You don’t want to be in a place 48 hours and be flying back home because you’re out of money .

I guess I missed the part about the OP payring for the entire trip in cash or loosing their cash. I just figured they wanted to know how to change dollars......

I wasn’t saying the OP was paying for the entire vacation.

I’m just making this a point of emphasis - if you bring cash with you make sure it’s not more cash than you can afford to lose. There was a woman on here not too long ago who lost several thousand dollars. now she was lucky enough to get it back, but you could tell it was going to have a very negative impact on her vacation.

I do the exchanging here instead waiting to do that exchange overseas.

If you have BofA taking out one thousand dollars min. to be exchanged for Euro, the bank charges no fee for the transaction. At this moment the exchange rate is not very good at all, I'm waiting for it to get back down to 1.08 or lower, which hopefully will occur by the spring. Right now I can't go back into the Schengen zone anyway as the passport expires in April of 2025.

I bring cash over, pay in cash in 2 of my hotels, and get a discount with cash for one to 2 week stays.

Keep in mind that BofA has to make some money too. When the official exchange rate was 1.08 , the bank charged 1.15 . I can live with that. So I pulled out $ 1,000. That should have been more, my mistake then.

So, the OP asked how to change his dollars in Paris. He got 12 dont do it / "better if" responses and two recommended just go to an exchange house. Cliff, see that you are new here. Please hang around. Its really a helpful forum .... usually.

There's nothing wrong with informing someone that there is a better way. Then it's up to him if he wants to save money or not.

You are absolutely correct. My bad. I was just surprise that of the first 10 responses that 8 of the experienced travelers didnt know the answer to the direct question (or I presume they would have offered it along with the advice) and one thought that exchange houses charge a 20% fee.

and one thought that exchange houses charge a 20% fee

could do - there's no law against it, and if they are the only game in town, well then.....??

"I was just surprise that of the first 10 responses that 8 of the experienced travelers didnt know the answer to the direct question (or I presume they would have offered it along with the advice) and one thought that exchange houses charge a 20% fee."

It wasn't until Post #10 that the OP came back with the information that he was aware of how to obtain Euro from an ATM. When I posted, for all I knew the last time they might have traveled might have been in the days of cashing travelers checks at the American Express office to get French Francs. I assumed they did not know about ATM withdrawals in Europe and you know where assuming gets you.

And actually I do know how to find a foreign exchange point in Paris.