Cash or ATM

Use ATMs. Foreign cash will be of limited value because it can only be exchanged at exchange bureaus with rates not as interesting as ATM rates.

Last time. I exchange my US$$$ to euros at a local bank before my trip.

I usually have some left over and then the use the ATM at a Banque National Paris branch.

Whatever feels comfortable to you there is no right answer to this

You can review this frequent topic covered ad nauseam via:
https://search.ricksteves.com/?button=&date_range=1y&filter=Travel+Forum&query=euros+or+atm&utf8=%E2%9C%93

Thank you!!

Frequently asked question. I always have some hand upon arrival if I want to buy something. I get some from an ATM at the end of one trip for use on the next. Some people say to have enough to get you to your hotel (€100-€200) or the first day, then go to an ATM, and many say get some at an airport bank ATM. ATMs give you the best currency exchange rate.

Withdraw from ATM on the ground no matter where I go (Europe and other destinations).

We always get cash from the atm when we land. In 25 years of travel, we have never obtained foreign currency before a trip. But we do bring a few hundred US$ with us.

Definitely a FAQ and it's answered by Rick Steves himself:
https://www.ricksteves.com/travel-tips/money/cash-tips

With the following tips, you'll make the most of every cent you spend.

Resist the urge to buy foreign currency before your trip. Some
tourists feel like they just have to have euros or British pounds in
their pockets when they step off the airplane, but they pay the price
in bad stateside exchange rates. Wait until you arrive to withdraw
money. I've yet to see a European airport that didn't have plenty of
ATMs.

Hello from Wisconsin,
We start each trip with left overs and then use local ATMs. Seems each trip we encounter something a bit different. Portugal had a maximum, a national maximum, that could be withdrawn per event. I forget if it was $100 or $200. Spain had exceptionally high fees, like 6%, except Deutsche Bank which charged noting. New Zealand it was a flat $4 fee no matter the quantity of money withdrawn up to $400.

Check with this website in the month before you go and start a new thread by asking, Which banks have the lowest ATM fees in France.

You could also ask this site about credit cards that charge NO fee on international transactions.

And a Credit Card with NO international fees is the best way around all of this. Local currency is accepted everywhere, but try the card first, if they say, "No, Thank you", pull out the cash. Capital One has a no fee card. Beware of this gimmick, My credit Union told me they don't charge any fees on international purchases. Well that was true, but the credit card issuer sure did. Often one will charge 1% (the bank) and the credit card will charge (2%). And then there is the bad exchange rate trick. Sure no fee, just a 3% bad exchange rate. Once again, my Capital One has been bery, bery good to me.

Remember that two failed tried to withdraw money in one day, and you should stop. Or the machine is likely to swallow your card never to be returned. Make sure you take at least two cards. I take my CO, my wife backs me up with her Credit Union card.

Enjoy your trip,
wayne iNWI

The way I look at it is: if you were traveling anywhere here in the US (presuming you're American) would you feel comfortable arriving in another city with no cash in your pocket? I mean comfortable - not, "can you manage without it."

I always keep leftover cash for the next trip. And I would get some (not a lot) for countries for those for which I didn't have any.

(edited to add)
The Rick Steves recommendation as quoted above always bothered me a bit, and then I realized why when responding to this thread. At the bottom of the very same page, he says:

US dollars: I carry $100–200 as a backup. While you won't use it for day-to-day purchases, American cash in your money belt comes in handy for emergencies, such as when banks go on strike or your ATM card stops working. I've been in Greece and Ireland when every bank went on strike, shutting down without warning. But hard cash is hard cash.

In other words, Rick makes the contradictory recommendation that you have some cash as a backup. His reference to dollars instead of euro is irrelevant: I think this tip was first written back before the euro. Combining the two tips, I think the significant point is that you don't need to bring all the cash you think you'll need, but that some is a good idea.

RS guidance is just guidance not Gospel, so has to be taken with a dose of common sense and personal comfort. I do think that some of the tips and guidance are due for a fresh re-write, not just an update.

There are many different opinions on this subject. Mine is that the least expensive way of getting local currency is from an ATM at your destination. Having said that, however, it's always a good idea, again just my opinion, to have some local currency in hand when you land. Getting two hundred Pounds, Euros or whatever from your local bank will cost you a little more, but it eliminates the hassle of trying to find a machine, the stress of hoping it works (they do occasionally malfunction), and doing it all while somewhat jet lagged. To me the small amount extra it cost to have money in hand when arriving is money well spent, and the extra cost relative to the overall cost of the trip is not really that much.

I'm also strongly in favor of using ATM's when you get to Europe.

I'll give a couple caveats though:

Do you need a lot of cash when you arrive? Some people stay at lodging that expect a cash payment on arrival. Your debit card has a daily withdrawal limit, normally about $500. Many cash machines in Europe have a transaction limit, usually something like 300 euros. It's possible you have a need for immediate cash that goes beyond what is available from a cash machine.

What does your bank charge? Big banks have IMO huge foreign cash machine charges. Wells Fargo, as an example, charges $5 per transaction plus 3 percent of the total. To pull the equivalent of $100 costs $8. When you face big charges, it's good to keep your ATM withdrawals to a minimum to reduce fees. It's so much better to get a different account, even if just for traveling, that charges reasonable fees. My USAA charges a flat one percent on all transactions. That same $100 withdrawal costs $1. This adds up over the course of your trip. Not only that but I don't worry about taking fewer large transactions. It's no problem to stop for 50 to 60 euros as I need it (which is better than carrying a lot of cash).\

Keep an eye on what kind of cash machine you're using when you arrive in Europe. In both Dublin and Orly the first ATM you see is a Euronet machine. I saw them downtown in Dublin too. These are really automated exchange booths. If you use these, you might as well have picked up euros/pounds through your bank at home. Use only bank ATMs. You can tell because it will have bank, banc or banco in the title or at least one of the letters is a B, as in RBS (Royal Bank of Scotland).

I guess it is simply a personal comfort level thing. I too use the ATM when I arrive. I have never bothered obtaining euro beforehand. I am guessing the fee either way is comparable or less at an ATM than buying Euro at home. (haven’t researched, just a guess)

BIG caveat: When taking cash from an ATM (or using a credit card) NEVER choose the option to have it in your home currency - ALWAYS choose in Euro. If you choose your home currency, something called Dynamic Currency Conversion is applied, which basically means that the merchant sets the exchange rate rather than your financial institution (or CC) and it will always be higher. And, you’ll still pay whatever fees are applicable on top)

If you want a more complex explanation...

https://en.wikipedia.org/wiki/Dynamic_currency_conversion

https://thepointsguy.com/2015/06/dynamic-currency-conversion/

Have always felt like my brain would be frazzled upon arrival after a long tiring flight.....and having some local cash in my pocket guarantees I make it with a taxi to my hotel safely without trying to find an ATM and worrying over conversions.....after a stop at my hotel and a little rest I am better equipped for $ exchanges, etc

Appreciate all your feedbacks. Sure is very helpful. :-)

You should bring at least 10 to 15 Euros worth of coins (coins for 1 and 2 Euros and 20 and 50 Euro cents). You'll have plenty of places where coins are preferred and maybe necessary (metro ticket machines, city bus, shot of espresso or glass of beer or wine at a cafe, and tips for your taxi, bellhop, room service and maid service). You won't do a lot of tipping in Europe, but there are still some occasions where it's customary and a good idea. I like the sense of control having at least a few days' supply of Euros with me before arriving in Europe so that I don't have to go directly to the ATM. Yes, there are ATMs in airports, but unless you travel all the time, you'll have lots of other things to concern yourself with arriving in an airport for the first time, without adding ATM to the list, and what's the point of loading up as soon as you land, versus just taking care of that when you've got the time to do so before the trip? ATM's are fine but it's advisable to use those attached to a bank, preferably when the bank is open, just in case there's an issue (I recently had the ATM at the bank branch a block from my home "swallow" my debit card - it can happen - since the branch was open at the time, I was able to go inside and someone there retrieved the card from the machine). Just as here, ATMs in Europe can be tampered with, particularly if somewhat isolated and not in a high traffic area. Joining a tour, it may not be opportune to find a suitable ATM your first day or two (weekends, holidays, full schedule on the first day). Having a few days' supply lets you opt to use an ATM when you'll be more comfortable doing so. And of course once you make the withdrawal, it's best to put the money directly into your money belt even if that's a bit awkward, not your pocket, just in case someone is watching.

Both. I don't carry plenty of cash though, just enough to cover the first/first few days.

@ppetersen77 Exactly my thoughts.
Thank you All!!

Tdw, your bank made a mistake. It charged quite a bit less than the interbank rate--a human error of some sort. Wonder whether your bank would sell more at that price? (I'm buying!)

...$262.50 for €250 which I guess is good. Was also told that I can only withdraw up to $500 each time, up to $10,000 per day.

The $262.50 (presumably USD) for 250 EUR does seem too good to be true even today's decline to 1.11 USD per EUR (Interbank rate).

The $10,000 USD [ATM cash] daily limit sounds high for personal bank checking accounts. Most banks set daily ATM limits in the $300 to $500 USD range and some banks may authorize higher limits but no where near $10,000. The daily limit is generally set a lot lower to protect against unauthorized ATM use. A $10,000 USD withdraw limit could be associated with a saving account, but foreign ATM withdraws are usually tied to your checking account.

Bank of America charges 3%, but no other fees for international ATM transactions, IF I use a network bank. I'm assuming I am getting the local bank exchange rate. I'm not a big shopper, so when on an RS tour, I only averaged about 20 a day in cash expenditures anyway.

I agree with TC:

There are many different opinions on this subject. Mine is that the least expensive way of getting local currency is from an ATM at your destination. Having said that, however, it's always a good idea, again just my opinion, to have some local currency in hand when you land. Getting two hundred Pounds, Euros or whatever from your local bank will cost you a little more, but it eliminates the hassle of trying to find a machine, the stress of hoping it works (they do occasionally malfunction), and doing it all while somewhat jet lagged. To me the small amount extra it cost to have money in hand when arriving is money well spent, and the extra cost relative to the overall cost of the trip is not really that much.

This is especially true when traveling solo. I bring about $200.00 of the local currency. If I do use an ATM, it is once. I no longer use cash in Europe when traveling, my credit card is so much easier and less expensive. If I'm in a non-euro country, I use up my cash on a taxi to the airport. The cash is just backup.

I once arrived at the Salzburg airport to find all the ATMs out of cash and had to exchange some dollars which is the worst choice of all.

If you have a bank that charges $5 to withdraw and 3% then get a better bank. Ours charges the standard 1% and no withdrawal fee and our credit card also charges just 1%.

We always take a few hundred Euros home at the end of a trip to have start up money the next time and then use ATMs there. I would get 100 in small bills from your bank so you have a little walking around money on arrival and then use ATMs as you go.

If you do need a large sum on arrival consider carrying it in a money belt - obtaining it before you go. We once needed a large payment in RMB and carried that with us rather than worrying about whether our cards would work smoothly in China. They did though.

I would just withdraw cash at the airport when you land at your destination. It's likely there are multiple ATMs from the national banks of the country you are visiting. They don't typically charge any fees. I use my Capital One 360 debit card as there are no foreign transaction fees for use. Just get more as you need it, there is usually a daily limit (not just from your bank card but from the ATM machine itself). If you need more than the ATM machine limit just use two different debit cards (maybe your spouse has another card).