I'll be leaving in May to go to Sicily, and wonder where/how I can get Euros before I start.
Both of my connections going over are about 1 1/2 hours between flights- so I don't want to try to stop and get some cash to carry while hurrying to the next flight.
Also, how much would be suggested? I don't have a big budget (I'm not going on vacation, but to help on an archaeology field school- and I couldn't afford the trip if I wasn't working and some expenses paid!!!)
Bob - the conventional wisdom is not to get any more Euros stateside than is necessary because of the high fees (usualy) involved.
Obtaining Euros via an ATM is usually your best bet -you pay the inter-bank rate plus whatever fees your US bank may charge.
I belong to a credit union and they don't charge a fee for foreign transactions, while my wife's bank (Wachovia) charges 5% - what a rip off.
Your question has been discussed a lot here, about half of us get 1 to 2 days of euros in cash before we go (we pay the fees for the peace of mind); and the other half don't worry about it, arrive without euros in pocket, and find an ATM that works at the airport (hopefully). Here's a typical discussion on this board: click
In 13 trips, I never found it necessary to get cash in advance. In case of emergency (broken ATM at airport, etc), take $100 in U.S. dollars with you and plan on bringing them home. But if that emergency does occur, you can always get money at an exchange place albeit you pay possibly a little more than you would pay here (where banks overcharge).
I have only once needed to do the exchange of my dollars and only because I couldn't find a bank that took my ATM card. Once we discovered which bank it was (this was 12 years ago), it seemed they had branches everywhere.
Now they all take them all, it seems.
When I come back from Europe, I always bring back about €200 to start my next trip ("Assume you will return", Rick Steves), so I never have to worry. If you have problems, will Steve or John be there to give you money. On, no, I guess not.
Think abour this. Most ATM cards from major banks are charging at least 3% for currency exchange on top of the 6/10% cross-border tansaction fee charged by the network, and often throw on a $ or two for "foreign ATM" fee. So, now you are up to an additional 4% to get money from an ATM over there. Wells Fargo only charges 5% over here for foreign currency, so to get €200 will only cost you an additional $3-$4. Not much to pay for peace of mind.
I like to have some euros before I go, just in case the Atm is not working or I'm to tired to stop.
I got 500 euros from my bank which is Scotiabank (Canada) because they had them on hand I was not charged any fees and in fact I got the going rate, which 2 weeks ago was 1.64, with not having to pay any extra.
When I use my card over there to get money out I'm usually charged a $5 fee plus a conversion % on top of that, so it just made more sense to me to get it before I go. I have also heard many stories even on this site about peoples cards getting eaten by a machine or not working, so I like to get some here first.
My plan is to pay for all my hostels on credit card if they take it, then use my euros for spending.
and of course I have a money belt!
