Thought it was all settled, its cheaper it get your Euros in Italy using the atm machine. When I went to 2 different banks here they both said the rate would be the same no matter if I got the money here or there. I don't think this is right after reading everyones advise..I never had an ATM card before so I thought I better start using one. The bank quote was for $3000 American, I would receive 2300 euro today!
Posted by
St. Louis
49 posts
I changed $100 into euro in late May, so I'd have some € on hand when we landed in Venice. For even that small amount, the value was $10 less than I would've in Italy.
So it's OK to get some before you go if you want to feel secure, but get the minimum. If you were to change your $3000 to €2300, you'd be paying $1.30 to the euro, instead of the going rate of $1.25 -- a difference of nearly $150!
Which airport are you flying into, if I may ask?
Posted by
Tresana, Highlands Ranch, CO, USA
23626 posts
You have to keep in mind that few US Banking operation in the US and especially in Hendersonville will have international banking experience. And second they do not always use the same terms. When we discuss exchanges rates on this board we are really talking about the interbank rate that gets quoted as the "exchange rate." That is the beginning for all currency exchanges. After that fees, etc., get buried in that rate until it is the rate you pay. Even ATMs don't give that rate BUT ATMs are as close as you can get as they are only one step removed. You can count on ATMs rates to be within one percent point or less of the interbank rate. Hendersonville banks probably are ten steps removed from the base rate and the bank teller doesn't have a clue as what the real rate should be.
Buy a hundred Euro from you local bank and get the rest from ATMs in Europe.