euros

Unless you just want a little euro cash to start out with, I'd suggest waiting till you get to your destination and go to an ATM. Your local bank or AAA will charge service fees to order your euros for you.

The official exchange rate today is about $1.38/€, but I seriously doubt that you can really get that rate anywhere. The best rate I have found for exchange in this country is 5% over the official rate from Wells Fargo ($1.432/€ today). On the other hand, getting cash from an ATM in Europe generally comes with a rate 1%-3% over the official rate (a few banks claim to offer 0%). So, it is probably best to get Euro at the ATM over there.

However, there are several reasons to get Euro here. First, it's nice to have some usable currency in your pocket when you arrive. Despite assurance from people on this site that nothing can go wrong, that you will always be able to get Euro, things do go wrong, and they won't fly over to help you out if for some reason you card doesn't work. I always bring about €200 home with me from each trip to start the next trip.

Secondly, a lot of problems (skimming, theft of money, theft of PINs) occur at ATMs over there. You might want to spend a little extra and take Euro with you just to reduce your risk.

Don't take US$ with you and expect to exchange them over there. That carrys a very large charge.

Good advice above. Here's more from Rick click here for Rick's Europe Money 101There's more information available on this website, than we can tell you in the small amount of time and space we have here. Click around the website to learn much more.

I disagree with Lee about getting euros over here just in case. There are plenty of exchange places so since the chance of having a problem are extremely low, I just take some US cash to exchange in an emergency. In 14 trips, I had to use it once only because I couldn't find one of the zillion banks that took my ATM. Once I found the bank, I realized they were everywhere.

In all the rest of the trip, I brought home my dollars unused.

About half the people on this forum do what Lee does, and half do what John does.I happen to be in the 50% that bring a few euros, just in case.But the point is:Someone new to this forum should understand that it's about 50 - 50 on here about this, no consensus on this forum as to the best way of handling this.

Since the Euro is rising do whatever you are going to do quickly! I lucked out, and bought mine a few weeks ago, when the rate was $1.29.

I personally want some Euro's in my pocket when I land. I bought a couple months ago @ $1.24 but they still cost me $1.34 with the charges. They have been steadily moving up each week. Not sure when you leave but it's always a guess what is best. I just don't want to be looking for banks, ATM's when I land. If I have enough for my train, taxi, and a meal, I just feel better. You will probably pay $1.45 or more if you buy now. I am also one of the few left that pays with cash 90% of the time. It's still a decision only you can make.

Ida, I'm from the group that prefers to have a few Euros when I land, so that can get a snack, a coffee or whatever. This is usually about €75 or so. Once I'm checked into the Hotel and "organized", I visit an ATM at the first opportunity.

I feel there's no point in obsessing over the exchange rates. These constantly change during each trading day, so there's really no way to accurately make a prediction on whether they'll improve or worsen. You'll be paying a service fee to the financial institution to convert either way (US to Euros and back), and there's no way around that (they ALWAYS get their money first).

Happy travels!

And I'm from the group that doesn't get Euros until I get to the airport in Europe. The only reason I would have some ahead of time is if I knew I needed more than my daily ATM limit (about 350 Euros) my first day.

ATM's are everywhere. A debit card with a Visa or Mastercard logo will work at any of them.

I am in the camp that always carries Euros/Pounds with me. Most of the time, they are left over from a previous trip, but once in a blue moon, I will purchase some if I am going to need a large amount immediately.

I have been traveling to the UK since long before the advent of debit cards and ATMS. So I think the ATM is the best thing since sliced bread!!! HOWEVER..imagine my shock last November when I arrived at T.3 at Heathrow, went to the bank of ATMS that have always been there and found that they had been turned into Travelex machines!!!!!!!!!!!!! I had just been through T3 in July so I was shocked. I walked all over T. 3...departures, etc. and never found a single ATM.
It must be a conspiracy on the part of BAA who manage the airport to make higher profits. I am surprised that no one else has commented on this.

I then went down to the tunnel that connects T3 with the Central Bus Station
and never found a single ATM enroute.
Luckily you can use a credit card for your bus ticket.

Another time that I had a problem locating an ATM was upon arrival on Eurostar at the Gare de Nord in Paris.
There were money-changing facilities but we all know that they charge too much.
Since I was traveling with a English friend who had Euros (and left-over Metro tickets), I did not go on a giant search.
Also there used to be an ATM in the Carrousel portion of the Louvre which was very convenient but it was no longer there in Jan. 07 and I could not find another.

So it pays to be prepared! And if you are coming from the UK to France, don't change money in the UK as it is a double transaction which is not economical at all.

In addition, I always carry an emergency supply of dollars which has come in handy
in emergencies.....like when my wallet was stolen (I had left the dollars in the hotel safe). Just hide them well (I have been known to stash cash in a sock which I am wearing...which is probably not comfortable in the summer!!)

A few years ago, I arrived in FRA and went immediately to the ATM. I put in my card from the first bank and requested just under $500 in Euro. It said "call your bank" (it was 2 AM in Denver). Second card, same results. I had a third card and it worked.

I had that €200 with me from my last trip, so I was not in an immediate crisis, but it was not enough to get me through the whole two weeks, so I was sweating a little. I don't usually carry three cards, but this time I did. What if I hadn't, and I didn't have the stash from my last trip?

Bottom line, you cannot count on getting money at ATMs on arrival.

Yes, there is a currency futures market. Half the people in it make money (supposedly the more knowledgable half), and half the people lose money on it.

I would think that those who make money spend a lot of time studying it. I don't think any of us have that time to devote.

Sure wish I could figure it out. Euro rate is up to $1.40 this morning. Glad I bought 400 @ the $1.24 rate a few months ago. Airfare is down which sure helps but at this rate we will be back in the $1.50 plus range by mid summer. Still don't think I would buy more than what you need for the first day.

If anyone could forecast the future price of money on the foreign exchange market, they would be really wealthy. But, it always just a guess. You could buy hundreds or Euro now and have the value drop a lot by you trip.

Lee, I'm not well versed in the financial markets, but I believe there is a "currency futures market" where people bet on what they think the value of a currency will be at a point in the future. I'm not quite sure how it works, but I'll bet there some that are making money at it.