Currency exchange

This is a topic that is asked and answered 100x time here. A quick search will give you all you need to know. Also, lots of posts in and around $$$ in the Money Saving section here: https://community.ricksteves.com/travel-forum/budget-tips

Thank you for the reply. With 100 replies on location of currency exchange, is there a search bar to use for topic or do I have to scroll thru a lot of subject lines?

The short answer to your question is to just hit a bank operated ATM upon arrival ... just like you do at home.
If you feel the need to get some Euros before you leave then I suggest getting a starter set of mixed bills (minimum order is USD$200) from AAA. You don't have to be a member to use their service - which is thru Wells Fargo - and the cost is pretty minimal.

Best to get Euros from an ATM in Europe. Check your bank's foreign exchange fees and "out-of-network" fees.

Put it this way, when you buy Euros in the US, you are buying a commodity that is rare in the US with a commodity that is common, US dollars. When you buy Euros in Europe with US dollar cash, you are buying a commodity that is common in Europe with a commodity that is rare in Europe. Anytime you change cash, a human has to handle that and that human has to be paid a wage, as well as rent for the location.

With an ATM transaction, there are no humans involved in the transaction and ATM's are everywhere. The currency exchange is taken care of by the network at the lowest possible rate, as it piggy backs on the millions being exchanged electronically every second throughout the world. If the ATM terminal asked if you want to be charged in US dollars, decline that offer, because in that case, the terminal owner will be quoting the exchange rate and it will not be in your favor. Let the network take care of the exchange.

Contrary to the ATM folks, I buy. Some foreign currency from my bank if I don’t have any leftovers. Yes it’s more expensive. But I want to land with useable money and fon’t want to deal with finding a bank ATM when I’m tired and anxious.

You won’t use much cash. Be sure your credit cards are tap and go. Everywhere uses them.

To search forum topics, go to the search feature at the top of the page or at the top of the 4 bar menu to the left, type in your topic, choose forum and either 6 months or a year.

ATM upon arrival. Best a bank ATM, but any ATM if just want some cash in your pocket. You just spent $1000 on a plane ticket to get to Europe, dont fret the $3 charge at a private ATM if having the cash in your pocket makes you feel better. If it lets you select the amount, do an odd number like 19 euro as it gets you some small bills. Do it twice if you want more.

Get $ in Euros from a bank ATM when you hit Europe. And avoid American Express, Travelers and other non-bank ATM's which come with charges and/or poor exchange rates.

I often will just get $100 in Euros and come home with funds. We use our Visa credit card for every purchase including rooms, rental cars, meals and even public transit. Little cash is really required.

And lose the concept of "changing currency". That is what happens when you go to a currency exchange (live teller, or Euronet etc). You are instead purchasing the local currency with a high mark-up in the dollars you are paying for it. When you WITHDRAW euro from an ATM you are withdrawing your dollars from your bank account, at the normal exchange rate, unless you have instead allowed for the conversion in dollars, in which case you are again being sold euro, at a mark-up. Otherwise m=known as Dynamic Currency Conversion (DCC). Never do a transaction in other than the local currency.

Many people just hit the ATM at the airport, and I have no quarrel with them -- to each his own. But, we prefer to have some cash in hand upon arrival. We don't have to find an ATM, wait to use it, and hope it works (they do malfunciton at times) while tired, sleepy, jet lagged, and on somewhat unfamilar ground. It will cost a little more to get some Euros in the U.S. before departing, but it's a small price to pay for the convienence. And the small extra price is nothing compared to the overall cost of the trip. Regardless, make sure to contact your credit card issuers and banks to see if a travel advisory needs to be put on the accounts. Some do, some don't, and some change every now and again. Just food for thought.

Rick Steves>home>travel tips>money.

Here are recent discussions on the topic:

https://community.ricksteves.com/travel-forum/ireland/currency-exchange-a00110fd-6371-4480-87e0-8758b65094d6

https://community.ricksteves.com/travel-forum/portugal/euro-purchase-in-lisbon-airport

https://community.ricksteves.com/travel-forum/greece/currency-exchange-other

https://community.ricksteves.com/travel-forum/spain/us-dollars-to-euros-b4a66663-5fb0-40b7-97cc-c6aa51c1444f

https://community.ricksteves.com/travel-forum/wales/exchanging-currency-before-lax-or-at-the-airport

https://community.ricksteves.com/travel-forum/italy/money-exchange-3c84f5d0-7a10-4e4d-9e53-d81d0b5a58f0

To paraphrase Karl Malden, don't leave home without it (it being euros).

Get $100 worth before your trip, you'll likely only use small bits of it for tips and small purchases and public bathrooms. If you need more, use a good American bank that doesn't charge too much for ATM withdrawals on the road (like Schwab).

A contrary view: I never get foreign currency unless and until I know I'll need it. Occasionally I'll pay too much for euros, forints or GBP, but it's better than having a drawerful of useless currency at home taking up space better used for another dozen Pro V1s.

We've had to use cash exactly three times in the two months we've been in Europe this summer: golf caddie fees in Scotland, doctor fee also in Scotland, and paying Deutsche Post for shipping stuff back to the States. Otherwise it's been credit cards everywhere (usually in Google Wallet form).

Different people have different preferences. But unless one were traveling somewhere exotic (Albania or Bulgaria might qualify), there's no real imperative to have foreign currency in one's pocket prior to landing overseas. Banks and their associated ATMs aren't hard to find.