EUR back to USD

Are you planning on traveling to Europe again? You typically lose a bit of money when you make a conversion. I usually just save the euros for a next trip. When we travel in Europe we typically use a credit card as much as possible. We make sure that all transactions are in EUR not USD. We also will start using cash more at the end of the trip if we are wanting to use up euros. It is my understanding that most places will only convert the paper money not cash.

Gauge how much Euro you will need those last few days. Usually our last ATM withdrawal is less than our normal amounts during the trip (we use cash for almost all transactions other than hotel & transportation).

If we’re returning the following year, we just keep the cash as Euros. Another option is selling your leftover Euros to a friend who will be traveling. The airport kiosk cash exchange rates are not a good deal.

We hold onto them or give them to friends or people we know going. Or we deposit them in our home bank account which sells and accepts them

Pay your hotel with cash and make up any difference with a card; pay the final train and meal in cash.

absolutely hold onto them and sell to someone who is going there - its a win-win for both of you. But I keep mine, knowing I'll be back. Or, you can have a last minute shopping spree at the airport.

Thanks everyone for these pieces of advice. Especially the last one about a spree in the airport. That seems like the most sensible thing to do in this situation ;)

Brutus, the airport shopping spree is always a good way to go, especially because there are always plenty of novel treats to procure. Once I get past the halfway point of my trip, I usually start gauging how much cash I have left so that I can decide whether I need to start using it or a credit card more often.

Also - when you're trying to use up your cash and you might not have enough for your purchase, you can always pay the remainder on a credit card. I realize this is likely obvious, but I mention it because it didn't occur to me until about a year ago :)

And if you have a handful of coins:
- airport may have charity collection kiosks
- small children (big enough to not choke on coins) may find them interesting

I've done all of what Nigel suggested when I've been to countries that I don't plan to return to. Since I am fortunate enough to be a frequent visitor to Europe, my only concern is the exchange rate since my travel money is in USD. When the rate is very favorable, I'll take lots and keep it in my travel drawer. When the rate is not as good, I'll take no more from the ATM than I need. I have an ATM card without fees, so I can take small amounts as needed.

If you live in an area where our forum members meet regularly, I'm sure one of them would be more than happy to buy your euros at a fair market rate.

If you're fortunate enough to do your banking with a credit union like mine I order my euros before I go, lately have been getting them in 2 days at no cost whatsoever just the rate at the time. If you need to exchange back into USD they will accept and give you what the exchange is also at no charge.

I save my Euros and Pounds for the next trip to Europe or Britain.

@cafetista, you might want to double check the rate that your bank is giving you to the actual market rate. I thought I was getting a decent deal when I set up an account with Wells Fargo for foreign currency purposes only. There was no fee for ordering euros or for exchanging them back, except I later learned the rate that they choose to use was totally to their advantage. But, you are working with a credit union, and Wells Fargo, in my opinion, is rather greedy. Before I get into to trouble, I'll add, of course they are in the business to make money, but I just don't trust them to do much in the consumer's best interest.

I always have pounds and Euros in the event there’s a good deal on airfare. Anything left over gets used on another trip. When my sister had a bunch of pounds left over after a trip, I just bought them off her. She made out and so did I since we didn’t pay the middleman. I do try to reduce the number of coins I bring back since most places won’t exchange coins, only currency. Also, if replaced by a new version, like the recent British £1 coin, they essentially become useless after the transition period.

If you need to exchange back into USD they will accept and give you what the exchange is also at no charge.

Your credit union may not add a charge to your FX transaction but may have disadvantaged spreads between the sell and buy excahange rates. The test would be to sell $100 USD for EUR, then sell the EUR recieved back to USD. I suspect that you would get less than $100 USD.