Currency Exchange

Hi Danna:

I will be the first to post to say avoid TravelEx like the plague. They have rip off exchange rates that will screw you over. There have been many, many (!) posts on the RS forum that attest to this. I use the services of Wells Fargo bank which has a decent exchange rate when converting US dollars to foreign currency. They do have worse rates when you convert left over foreign currency back to US dollars.

Have you read the "Cash & Currency Tips" page that is listed along the right hand side of a lot of RS web pages? I leave for Europe tomorrow for my 14th yearly trip and my 14th RS tour. I have never gotten any local currency before landing at my destination airport where I use a debit card tied to a checking account at a local credit union to get local currency from an ATM machine that is NOT one owned by private exchange companies. I use either a bank ATM or one on my cards network to avoid poor exchange rates and high fees. Have you been to Rome in July before? It will be HOT. Happy Travels

Hit the airport ATM once you get there for the best rates. Travelex is not a good deal.

For the thousandth time --- The cheapest and most convenient way to obtain local currency is via a debit card at a bank owned ATM in the country you are visiting. Even if your banks charges conversion fees it is still cheaper than any other method. Exchange bureaus in country, at the airport or on-line should be avoided. However, I will use them, if necessary, to have a hundred Euro in my pocket when I land. The last thing I want to worry about is finding a functioning ATM in the airport. They are not always easy to find quickly.

If you would prefer to land with Euros in your pocket check the rate at your bank.

If you want to get a little cash to have on hand before you go, use Wells Fargo (as mentioned), AAA or your own bank (check on availability of exchange as few branches do it). Many people do bring some as a safety measure or to avoid having to stop at the ATM right away. About $100-200 worth is all that is needed and will last a day or two.

Agree with Frank:

We take 100-200 euros with us (bought at Wells Fargo and leftover from last trip). That way we don't have to worry about finding an ATM (last trip the airport one didn't work). The next day or so, we find an ATM at a bank and take out 300-400 euros depending upon our needs and then hit a bank ATM as needed. We always use a local bank with an ATM in the lobby instead of a stand alone ATM. We've never had any issues except the the airport ATM.

Happy Travels!

Just to have a few Euros on hand (or pounds if flying into the UK), I will typicall go to my bank (Chase) about a week before departure and order $50-$100 in currency. That's all that's necessary to have on hand upon arrival. After that I withdraw cash via debit card from bank ATMs while traveling.

@MrsEB At the top of the screen is the search box. Entering "Travelex" yields 416 Travel Forum "hits" and under Travel Tips (left side of the screen), find Money https://www.ricksteves.com/travel-tips/money.