Taking Cash on my Trip

No, a human physically exchanging your cash is going to cost more than an electronic transaction at an ATM. Stick to ATMs, they work all over Europe (and elsewhere) and they dispense cash in the local currency of the country. You need to know what your own bank will charge you for an overseas transaction - my credit union charges 1% of each transaction, no other fees. Commercial banks usually charge a higher percentage plus some flat fee.

In Italy you will find it to be nearly impossible to exchange in most banks...perhaps it's possible in larger cities but currency exchange is not a service typically offered. It's not much different here in the US. Try walking into your local bank with Euro's and see what happens.
You will need to locate the main local Post Italia to exchange currency. When we were staying near Orvieto the nearest currency exchange was at the Post in Viterbo...
Your best bet is to use an ATM for cash.

No. We were in Berlin in 2012 and tried. No go.

Right: use the ATMS for cash as you'll get better rates and you're unlikely to find a bank willing to make exchanges. Regarding use of ATMs, you might find this very recent thread useful as it talks about what to do if a cash machine (or hotel or other business) presents you with a DCC (Dynamic Currency Conversion) withdrawal or payment option.

https://community.ricksteves.com/travel-forum/italy/wife-is-in-italy-crazy-fees-from-atm-or-terrible-exchange-rate

Do not bring US dollars to Europe. You will spend a lot of time finding a place that will exchange them, and you will get a lousy rate.

Use your debit card to get cash at ATM's, and use your credit card for larger purchases. On the whole, credit card acceptance in Germany and Italy is higher than it used to be, but is no where near the level of Scandinavia or the UK. You will need some cash.

For more money tips, read all of the links on Rick's money page, and you'll be an expert: https://www.ricksteves.com/travel-tips/money

I’m wondering if the banks in Germany and Italy exchange US Dollars for Euros anymore? I’d read somewhere that they didn’t! If they do, are the rates the same as we’d get at an ATM?

Since the introduction of the euro, a normal bank no longer exchanges foreign currency; exceptions are the branches at airports and railway stations. The exchange rate is mostly bad, worst at special banks like the "Reisebank".

Use an ATM or exchange currency before gong over.

We were in Germany last month; in Germany banks won't even exchange a 100 Euro bill for smaller denominations unless you're already a customer of that bank, so if you purchase Euros in the US, be sure to get a mix of bill denominations. The Reisebank in major German train stations will exchange foreign currencies for Euros and will make change for large Euro denominations, but foreign exchange rate is not good there. In our experience ATM exchange rates are better than credit card exchange rates.

Whether you do better using an ATM card to get local currency or paying with your credit card really depends on the specific cards you have. Some do not charge extra fees for overseas use, but many do, and those fees can vary. Each traveler needs to contact the issuers of his cards to find out how they willwork overseas. With that information, one is in a good position to decide whether to maximize credit card use or tilt toward cash. And if the news is bad, one can work on getting more travel-friendly cards.

won't even exchange a 100 Euro bill for smaller denominations . . . . be sure to get a mix of bill denominations.

I would question the need to change it. I have never had problems paying for something with a €100 note. I paid for my groceries yesterday with one. That is what the local ATM's dispense.

I agree with the previous statements, changing physical money is the most expensive way to do it, and must banks will not do this unless you are a customer.
Use a mix of debit cards for ATM's and credit cards for larger purchases. Never assume anywhere takes plastic without checking first (avoid mega embarrassment). And make sure you have told your bank you are using your cards in Germany and Italy, so they don't block them as suspicious transactions.

This last trip I came across getting 2x 100Euro bill from the ATM. I asked the hotel if they could "break" it into smaller denominations, in whichever way convenient to them as to combinations, after all, they are doing me a favour. The hotel did that.

The other 100Euro bill I used to pay for a meal at a train station eatery in Köln asking the clerk first if she would accept a !00 Euro bill to pay something ca 11 Euro. She said no problem.

That's how I got rid of those !00 Euro bills. Bottom line is if you prefer not carrying them, (I don't ), they can be easily reduced to smaller denominations in Germany.

Hi all who prefer getting some smaller bills from ATMs in Europe. Try requesting X95 € from the ATM where X = an integer of your choosing between 1 and 9 . That way you will get at least 95 € in small bills along with X 100 € bills.... QED!

I pay for things with 100€ bills all the time, just not first thing in the morning when a business has just opened. Grocery stores, dept. stores, drug stores, restaurants, etc. will all happily let you pay with your 100€ bill.

Check to see if your ATM allows you to specify the bill denominations. Some do and I like to specify 20E notes. Since $20 notes are what US ATMs dispense, that is what I think most Americans are comfortable with. $50 and $100 notes aren’t that commonly used in the US.

$20 notes . . . ., that is what I think most Americans are comfortable with. $50 and $100 notes aren’t that commonly used in the US.

So that is the real reason all these posters are objecting to €100 notes. Not that they think they will have trouble using them, but just because they are not common where they come from.
Other countries do things differently.
In the UK £20 is the largest denomination in cash machines (ATM). So £50 are rare, and £100 does not even exist (except in Scotland). Switzerland is the other way around, cash machines dispense CHF 100 and CHF 200.

I think once or twice I might have received 100€ notes from an ATM, but that was unusual. What I find I usually get is the first 100€ in small notes (20s, 10s, and 5s) and the rest in 50s.

I think when I did get 100s, I used them for my hotel bill, which is commonly more than a 100€. I think the people who are most bothered by getting 100€ notes are the ones who want to use plastic pay for things costing that much. Actually, I would estimate that 90% of the places where I have stayed in Germany didn't take plastic. One place in St. Goar, where I stayed on my last trip, even stated in their confirmation email that they only accept cash payment.

There really isn't any cultural problem with large denomination notes in Germany (and for that matter Austria or Switzerland). I've been at a café where someone bought a single drink with a €200 note without the hint of any surprise. Of course though there may be an occasion where change is lacking.

"So that is the real reason all these posters are objecting to €100 notes. Not that they think they will have trouble using them, but just because they are not common where they come from.
Other countries do things differently."

Actually, some places here put up signs saying they will not accept $100 bills. They do not want to use up all their smaller bills making change to a few customers.

I have noticed more 100 Euro notes from the ATMs in my last few visits. I am glad to hear that they are widely accepted.

True on two accounts in Germany: it is rare that the ATM spits out a 100 Euro note. Also, quite accurate that using a 100Euro to pay for a purchase of 10-25 Euro is no problem. Other (rare) times when I did get 100 Euro notes, I kept them to pay the Pension bill at check-out as that was asked for in cash....no problem.

Actually, I would estimate that 90% of the places where I have stayed in Germany didn't take plastic.

I guess you were staying in small pensions/B&Bs. Most hotels (certainly more than 95% of those where I have stayed) do take credit cards in Germany.

I can say that in 24 trips to Germany since 1971, at least four Pensionen and small hotels where I stayed did not take a credit card, without checking my notes on the Pensionen or small hotel I stayed at in Lüneburg, Regesnburg, or in Münster/Westf., Hamburg, Tübingen.

Three that didn't all are/were in Berlin-Charlotttenburg, one of which located on Kurfürstendamm doesn't exist anymore. The other two currently in business do not take credit cards.

Conversely, those 3 star hotels I've stayed at in Germany do take credit cards, such as in Hamburg, Minden an der Weser, Düsseldorf, Frankfurt.

We exchanged dollars for Euros at our AAA office. Since we go to Europe yearly we will bring unused euros back to use next year.

For those considering buying Euros in the U.S. before traveling - I recently learned that everyone in here in my town goes through Wells Fargo bank (including AAA) to convert dollars to Euros. It varied by bank but typically you would pay $10 to $20 for the transaction. Here's the kicker - the Wells Fargo exchange rate charged an extra $0.05 per dollar over the accepted change rate on that particular day. It does seem then that Rick's advice is very sound. You will get a good exchange rate and lower fees by going to the ATM in Europe. Remember to call your bank and tell them you'll be using your ATM card overseas. I also follow Rick's advice by taking some U.S. cash as a safety measure.
One other tip ... I have contacted every hotel we will be visiting on our trip to see if they will accept a credit card for the hotel fees. By knowing that I can better plan how much cash I will actually need to withdraw so that I can buy pretzels and cuckoo clocks.