I've never gotten euros from an ATM in Europe before.
I just bought $1000 worth of euros from AAA here in the U.S. (AAA uses Wells Fargo). I received 855 euros, an exchange rate of 1.17. No fees, that was the complete transaction.
I see on CNBC the spot exchange rate now is just above 1.12. My bank's debit card does not charge me for using a non bank owned ATM in Greece, or any other fees. I believe I will be charged a $5 transaction fee for every time I withdraw euros from an ATM in Greece. Doing the math, assuming 1.12 is the rate I will get at an ATM in Greece, that is only a 38 euro or between $43-$44 difference in $1000, less with ATM transaction charges. Is it that simple? Am I missing something?