Best Places in U.S. to Buy Euros before Trip?

"can any of you recommend good places to exchange money besides AAA and the bank?" No, because almost any source from which you obtain euros stateside will charge a 3-5% markup. Unless you're renting an apartment and need to pay the whole amount upon arrival, and this amount exceeds your ATM daily withdraw limit, just get your euros from the ubiquitous ATMs you'll find at the airport when you arrive. The chances of needing to pay for something in cash before you find an ATM is extremely low.

The Interbank (Oanda) rate a few minutes ago was $1.2566/Euro. Most major banks (like US) will charge you a 3% higher rate (1.2943 $/€) for ATM withdrawals over there. Wells Fargo's rate here right now is $1.3146/€, 1½% higher. If there is a Well Fargo main branch in St. Louis, you can get €76 per $100 right now. So $200 worth of Euro to start your trip would cost you $7 at Wells, $11 at USBank. When you consider some of the unfortunate things that could happen if you arrive without anything and, say, the banking system is offline when you arrive, it's cheap insurance.

I always start my trips to Europe off with several hundred Euro from my last trip. You were there in 2008 - ?

There is NO BEST Place or even good. I think it is smart to have a hundred Euro in your pocket when you land. Just pay the price at the bank or AAA. After that use the ATMs and saving a hundred when you return for your next trip.

The AAA rate seems really high. My parents went with it, but I am unhappy with it. Where are you landing? I cleared customs in Frankfurt and went to the ATM with no problem. I am feeling less certain about CDG, based on things I am hearing. I have been thinking of going to the Travelex in Seattle (not the airport), but I don't know if they charge a fee in person (they charge shipping if you buy Euros on-line, but you might want to price them, just in-case.)

If you want to get a few go to your local bank to get them. The fees will be lower, you'll feel happy for having a few Euros in your pocket when you arrive. Get more from the ATMs when you get there to supplement your "starter" amount. You may need to go to a specific location or give them time to get the Euros out to your local branch.

Pam

Pretty much what many others have said, just use the ATM's when you get there. My bank charges me $5 for the fee and I usually get the $1 or so fee from the bank atm that I'm using. It's the best exchange rate you can get.

There are never any charges for using a bank associated ATM in Europe. However, there are so private ATMs that will add addition charges so just be sure you are using an ATM associated with a bank.

Has it struck anybody else that a person going to Europe is likely to be spending MUCHO DINERO, yet there is always angst about the few dollars that a transaction might cost?

That angst is because we don't like to feel cheated, and we like to feel like we get something tangible for our money. So dropping $5 on chips and a soda is ok. Just to have access to our own money, even if it is convenient, not so much.

I wished I bought some Euros when a euro was $1.18 about a month or two ago. now it's back to $1.25. So by the time I go in November, I am sure I will be paying my usual $1.40. It really is a gamble. After the ATM fees and then fees for over the seas transaction, I wonder if it really is worth it to wait. I think we really break even when you think about it, but that is me just being bitter.

Thanks to everyone for the ideas! I ended up going to my bank (US Bank) and I bought 100 euros for $137, including the $3 transaction fee. I don't feel comfortable arriving in a country with no local currency. (I'm flying into Hamburg, BTW.) But I heard that airports are one of the worst places to exchange money or hit the ATM, because they offer terrible exchange rates. I've never dealt with money at an airport so I can't say if this is true.

@Frank - maybe you can answer another question of mine. I was in Europe in 2008 and spent a month in Belgium with a medieval archaeology program. I made 4 withdrawals of 200 euros each from a bank-owned ATM and there was always an $8.50 withdrawal fee. That seems to come out to 3% (6 euros, considering the exchange rate at the time) of my withdrawal amount. If there are no international ATM fees (and my bank told me there are no international fees associated with my card), why did this bank-owned ATM charge a fee?

"But I heard that airports are one of the worst places to exchange money or hit the ATM..." There is nothing wrong with bank owned ATM's in airports. They are the same as anywhere else. It is the airport exchange bureaus that have the high fees and/or lousy exchange rates.

"If there are no international ATM fees (and my bank told me there are no international fees associated with my card), why did this bank-owned ATM charge a fee?" Bank owned ATM's do not charge fees in Europe. Private ATM's in bars, convenience stores, and service stations do. Such ATM's will warn you of the fees before you withdraw money. Your €6 euro fee sounds like a 3% markup by your bank, not the foreign bank. What bank's ATM said there was no fee? Are they using the "No Fee" claim that just means that their profit is hidden in the exchange rate markup?

You're right about ATMs in airports - I was only thinking about exchanging money or traveler's checks there.

US Bank told me that there are no international fees on its ATM card. I'll see what happens on this trip and if I get any kind of fee, I'll ask them about it when I get home.

Sarah,
Check the chart http://flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange

It looks like you you pay 3% on each transaction.

My backup debit card is US Bank -- they are correct there are no "international fees" because there are never any international fees. All the fees are local -- $5 per withdraw AND 3% currency conversion fee. My primary card is a credit union debit card which does not charge any fees. In all of our travels I have never had to go to the backup card but I do test it once each trip to make sure it is working.