Should I get euros in the US before my trip?

The currency rate will be at the Interbank exchange rate that is current to that instant, as long as you make sure you are doing the transaction in Euro. Some ATM's will know it is an American bank card and will ask if you want to do the transaction in USD. Always decline that as then they pick the exchange rate and it is never in your favor.

Check with your bank and see what they charge for foreign currency transactions. Most big banks charge 3%, but smaller banks and credit unions only charge 1% or nothing. Also does your bank charge for out-of-network usage fees? Again, smaller banks and credit unions do not.

Generally, European banks don't charge fees for ATM usage, but that could be changing. It will be disclosed during the transaction.

Ask your bank what rate and/or fees they apply to foreign transactions. Typical rates are 1 - 3% above the inter-bank exchange rate, instead of the 5% they're charging you for the cash exchange at home.

Fees applied by private ATMs are always disclosed at the start. Always decline the option to see or process your transaction in dollars. International transactions should be completed in euros or other local currency.

If in the eurozone now, such as the Republic of Ireland, and using my VISA brand debit/ATM card, euro would be issued to me at the rate of $1.093591. My card has zero foreign transaction fee nor other fees.

Egg Lady, "ATMs charge high conversion rates" ATM's don't set the conversion rate (unless you are suckered into the "do you want to pay in your own currency" DCC scam). The amount charged to your bank or card issuer is the amount you withdraw in the actual currency you took out (Euros, or whatever). Your bank or card issuer does the conversion.

Banks charge less for electronic conversions (as Laura says 1-3% versus 5%) than for cash money, as cash has to be counted, transport securely, stored in a safe etc.
Some people feel happier if the have a small amount (€100-€200) on them in real cash to get them to their hotel and buy a first meal, just in case they can't find an ATM at the airport. If you feel less anxious that way it is worth a few %.

Generally speaking the least expensive way of getting local currency is from an ATM at your destination.
However, it's always a good idea, in my opinion, to have some local currency in hand when you land. Getting a two or three hundred Euros from your local bank will cost you a little more, but it eliminates the hassle of trying to find a machine, the stress of hoping it works (they do occasionally malfunction), and doing it all while somewhat jet lagged. To me the small amount extra it cost to have money in hand when arriving is money well spent, and the extra cost relative to the overall cost of the trip is not, in my opinion, that much. Just one point of view.

Chris F,

NO. In the US the card issuing bank or company does NOT set the conversion rate or do the conversion itself. It is set and done by the card network. The card issuer sees nothing but the USD equivalent. The card issuer can then add in its 3 - 5% and whatever other fees it wants as a separate line item on your statement.

This should be exactly the same for every bank or card issuing company in the world as Visa, MasterCard, American Express and probably Discover all convert transactions to the currency used in the country of the card issuer before billing them.

The only time this is not true is when the ATM or merchant uses dynamic currency conversion and chooses their own rate.

Martin, I said "bank or card issuer", the card issuer is the network, visa or Mastercard. It is them who does the conversion, not the ATM owner.

OK, difference in terminology. :-)

Card issuer is the same as bank if the bank issues the card.

Network is just that, the network Visa or MasterCard (or American Express, etc.). The network does not issue cards, only a bank or card issuer does that. Except in the case of American Express where they are the bank, card issuer, and network all in one.

I always bring some with me and then use ATMs as needed although I try and use credit cards as much as possible

Never felt the need to bring some with me. ATMs available when arriving at the airport.

Thank you for your responses. So we should be able to get euros at the airport in Shannon?

For a contrary opinion, I bring some money from the country I'm visiting with me. That way I can leave the airport as soon as possible and I don't have to worry about finding the machine, standing in line, my card working in the machine, etc. I like to pick and choose where I use my ATM card. I find the small cost of getting money at home, worth it. This is especially when I travel solo. I often have money left over from the last trip, but I like to go with at least $200.00 so I can take days to find the ATM, should I need to do so. Depending on the country these days, I might never need to go to the ATM again because so many countries use mostly plastic and my credit card has no fees for international conversions, etc. That's just me. Some things I nickel and dime, some things I do not. I'm for ease of travel.

I do the same as Wray. I take a small amount in local currency so I can get straight onto a train or out of the airport. I think it really depends on what your comfort level is. Some here would say no need others like me like to have some local currency before you go.

I am lucky in that my bank does not charge me anything but the actual cost of the currency. No conversion fee so I get the currency
before I go. but even if they did not I would still get currency. It is just what works best for me.

ATMs are located just outside the customs gate in the departure hall. Very easy to find. Notify your bank that you will be traveling.

We opened a Charles Schwab checking account w/debit card which is free, no fees. You also must open a brokerage account but again there are no fees. The Schwab debit card works at most all ATM machines in Ireland, we also used it in Italy two years ago, and Scotland in 2014. You deposit cash in the checking and the debit card pulls Euro's directly from your checking account. There are no currency exchange fees, all you suffer is the dollars to Euro exchange. Schwab also reimburses you if you use an ATM that has a fee for the use of the machine. Schwab deposits the machine charge fee back into your account. It's a total no-brainer, all the ATM I encounter in Ireland accepted the my Schwab card. I took no Euro with me from the US and got 800 my first ATM stop at the airport in Dublin. I requested before I left a 1500 dollar limit from Schwab. Some of the machines will limit what you can withdraw but we had no problems. Be sure to note that many B&B's in Ireland want cash so you may need to stock up before going to the smaller towns as not all of the villages have ATM. I see no reason to buy Euro's in the US unless you are stressed from not having local cash in your pocket.

Just wanted to make a note on this post so it would percolate back to the top. We are heading to Ireland in about three weeks and want to understand this stuff better.
Thanks

We took a few euros with us so we had cash for the Air Link bus into the city and we didn't have to find an ATM immediately.

RE: So we should be able to get euros at the airport in Shannon?

http://www.shannonairport.ie/gns/passengers/relax/currrencyexchange.aspx

ATM Machines are located at check-in and in the arrivals and
departures halls.

And if you can't find the cash machines ask at the airport information desk or tourist information desk in the arrival area near the car hire desks.

A lot are talking about getting at least a small amount of euros before they depart just to haveupon arrival. So where do you do that in the states? We bank with Chase and Bank of America, do you just go to them or what?
Thanks

We bank with PNC and they just needed a few days to get them for us.

Yes. Go to your local bank branch. Ask them for Euros. They may have them on hand, but you probably have to wait for a couple days for them to be delivered.

Your bank most likely will tell you they don't charge a fee for the currency. My closest Chase branch charges about 8% over the rate you will see on Google when you order any foreign currency through them. It is included in the stated exchange rate. So no separate fee, but 8% sure looks like a fee to me.

Two banks I deal with charge a $15 fee per transaction on top of their own "published rate".

If you're a AAA member you can order foreign currency online via their website - minimum order is USD $200 I believe. We've found the rates to be reasonable, and it's always nice to have some cash in hand upon arrival so I'm not sweating finding an ATM first thing upon arrival.
It's been a few years, but as I recall they used to offer a "starter set" of approx. USD $100 of the local currency (in small bills - handy for small purchases, taxis, etc) at their offices. Might want to call and see if the service is still being offered.

Ask around before leaving. Friends or family likely have leftover Euro that they'd be willing to sell you at the market rate with no fees. Otherwise, nearly every airport I've arrived at has had several ATMs to choose from, or currency exchange points. You can get Euro easily and painlessly upon arrival. I find that purchasing foreign currency anywhere in the U.S. is comparatively more expensive and time-consuming.

Just wanted to add to this. We went to our bank and got 200 euros and 100 pounds for our trip. Our bank is B of A and they charged us nothing but $7.00 to pay for shipping from Los Angeles. We got the money in one day. Very handy and will give us seed money when we first get there.

jimndiana. What was the exchange rate for your purchase?

I use to have BofA accounts (BofA sold us to a regional bank). FX purchased in the USA is not "free".

https://www.bankofamerica.com/foreign-exchange/buying-foreign-currency-faq.go

Is there a fee for placing a foreign currency order online?

There is no fee for ordering foreign currency online. The bank
receives compensation from the purchase and sale of foreign currency
banknotes in the form of the difference (also known as the spread)
between the price we pay to obtain the foreign currency and the price
at which we sell the foreign currency. There is, however, a delivery
fee of USD$7.50 on all foreign currency orders less than USD$1,000;
this fee is waived on orders of USD$1,000 or more.

https://www.bankofamerica.com/foreign-exchange/foreign-currency-exchange.go
As of 27 May 9:00PST: 1 EUR = $1.1789 USD

https://www.oanda.com/currency/converter/
Current 27 May Interbank: $1.11972 USD to buy 1 EUR

Spread: About $0.059 per Euro or $5.90 USD to buy 100 EUR.

Ordinarily I would never do this, but I had GBP leftover from last year. I exchanged them for EUR at SeaTac when I got there on 5/25. I took the hit on the exchange rate that I expected, but there was no service charge for exchanging from one foreign currency to another. I was also able to get them in denominations of 5s, 10s and 20s. That will help a bit when I arrive in Rome next month.

Stan,
I got to thinking about this today and checked it out when I got home. I have a conversion calculator I put on my computer so I checked it out. I paid $240 for 200 euros and my calculator says I should have paid $223 so they abviously charge me a higher exchange rate. It doesn't really bother me as it is worth it to have some seed money. I was also glad to know the exchange rate was actually lower than what I paid because when I get in country my dollars,will go farther.

So you can get money stateside but be prepared to pay more.