Purchase Euros at Home?

We are not going to default.

When you get to the destination, find a bank related bankomat, and get some Euros. Simple as that.

If the US government defaults on its payments, you'll have more to worry about than a lousy exchange rate. Your local bank will probably be happy to sell you Euros at a 10% markup.

IF a default occurs it will have little impact on exchange rates initially. If you buy in the US you will pay a 10 to 12% premium. Maybe get a hundred Euro here and more when you arrive.

I like having some Euros on hand, just in case and particularly sometimes the airport ATMs are not working, convenient or charge higher fees. I live in a university town so I always try to find someone on campus with extras or network to see who's recently returned and offer to buy their surplus. You can use XE.com to get an idea of the current exchange rate.

There is no chance the US government will default. The US Debt is denominated in US Dollars, the currency it controls and it can print, if necessary, not in a foreign currency (unlike Argentina or other emerging economies which issue US$ denominated debt) therefore there will be no default happening. Having said that we don't know what the exchange rate will be next month, so either way you are taking a risk. For sure buying Euros in the US usually carries higher bank commissions, so the best strategy is to use a credit/debit card as much as possible, since cards afford the best exchange rate at the time of the transaction. If you need some hard cash get it at an ATM once you arrive, or if you prefer to have some with you when you land, just limit your purchase to no more than a couple hundred euros.

Although the default may be unlikely, it can't hurt to lock in a decent exchange rate now.

Personally I would not dream of going overseas without some currency. It can get really ugly when you stick your ATM card into an ATM in Germany and find out that Bank of America dropped the ball on clearing your card for overseas use. That happened to my wife a few years ago, fortunately my card was with a different bank that did not drop the ball. Although credit card use has become very common in Europe, there are still times and places where you want to have cash. Likewise you want two credit cards from different sources just in case one source drops the ball. As the saying goes, 'been there, done that, don't ever want to repeat ti.

There is no chance the US government will default. The US Debt is
denominated in US Dollars, the currency it controls and it can print,
if necessary, not in a foreign currency (unlike Argentina or other
emerging economies which issue US$ denominated debt) therefore there
will be no default happening.

True enough, but it's also true printing trillion dollar bills would crash our economic system. Our debt is real.

That said we won't default.

It's nice to have some Euros in case things don't work out with ATMs, but I wouldn't pay much of a premium to get them, waste of money.

Thank you so much for your responses. I think we'll just trust to the eventual common sense of our government. We always bring home leftover Euros from our trips, so we arrive with at least a couple of hundred. We've also followed Rick Steves' advice and always use bank associated ATMs.

One of the previous posts noted that their wife had had trouble withdrawing money from an ATM. We had a problem once where we were at a bank ATM and it rejected my debit card, which had given us no problems previously. I walked across the street to a different bank and my card worked fine.

Thanks to all!

Well, I travel with 4 credit cards and two debit cards on three banks and currency so I almost feel comfortable.

Picking up money at bank ATM's as you arrive is the way to go for walking around cash.

I use a credit card that pays back "miles" whenever possible--as it pays for my yearly trip to Europe. I put rental cars and hotels on it--everything. That includes restaurants and all travel.

I don't buy Euros before we travel, but if you must, Bank of America has the best exchange rates, but you have to have an account or credit card with them.

I'm ruing not pulling more Euros out of the ATM last summer before coming home when the rate was at parity. I meant to but kept putting it off and then forgot. Only about 900 Euros on hand, would have liked more like 3k. Next time it's at parity I'll buy more!

As I've heard it said, economists are predicting a weakening of the dollar in the next year or so, so that the peak time to travel to Europe for US citizens was last year.

This topic comes up every now and then, especially over the past ~18mos with Fed and Central Banks tinkering with rates to reset their respective economies. I always buy a few euros before the trip to bring for incidentals, local transportation and first lodging facility; locking in certainty of those services' (exchange rate) costs. I also find it valuable to go straight from the plane to taxi/hotel without having to search for an ATM after customary 'no-sleep' eleven-hour flight. Buying at my bank incurs a 4% fee, so sometimes I come out ahead, sometimes I don't. Last autumn's trip found USD on parity (or even slightly higher) than EUR; but I've also been over there when it took 1.34 USD to buy one EUR, so buying/storing some ahead at then ~1.10 (bank fee incl) was a bargain. Everyone has their opinion but mine is there's a reason companies 'hedge' FX... mitigating risk of a given currency running away from them. I believe it's a good practice to follow in our own travels. The last thing you want to have occupy your thoughts when in the Louvre or Coliseum is what's this costing me? :) Have a GREAT trip!

I have always found an ATM at the arriving airport so personally never found it a hassle to wait.
The news is scaremongering ; these politicians will wait to the very last minute before coming to some kind of agreement to prevent a major problem. Or worst case let it happen for a day or two before then settling it post panic.
Feels like that or similar happens all the time, so no idea why anyone would think otherwise.

I use a Schwab Debit card which completely refunds any ATM fee worldwide, fair exchange rates, zero foreign transaction fees ; etc...

During the trip whenever possible if I can avoid paying cash and charging to a credit card also with fair exchange rates and zero foreign transaction fees to get Points/Miles I do so.

If you’ve already got €200 left from your previous trip, you’re all set until you decide to get more Euros after you arrive in Europe. If you use a credit card instead for many transactions, that €200 might wind up lasting you for longer than you might be thinking at the moment.

To ensure I’m getting the best exchange rate, I avoid airport ATM’s, and withdraw euros from an ATM of any bank (or sometimes a post office) on the street, once in town.

One of the previous posts noted that their wife had had trouble withdrawing money from an ATM. We had a problem once where we were at a bank ATM and it rejected my debit card, which had given us no problems previously. I walked across the street to a different bank and my card worked fine.

This happens every now and then for whatever reason, bad network, no money, doesn't like your card etc. We had this happen in Prague last summer, two separate banks with third one working. Even the locals were having problems.

It happened to me in Germany in 2015. A bank employee told me that the problem bank's ATMs were known not to like foreign? US? ATM cards. I had no problem elsewhere. The main thing is not to panic--which is a lot easier if you have a second ATM card from a different financial institution.

Always have a couple hundred euros with us when land in Europe,
Usually it's leftovers from the last trip we had taken.
Going back in Sept. Just makes the first day much easier.