Euros- Exchange Rate

Just get euro from a bank ATM at the airport when you arrive.

Roughly $1000 euros are only about $700 USD, right now.

Wrong way, roughly 800 euro would be $1000 at an ATM over there, right now. Or, if you get your euro at Wells Fargo over here, $1000 will get you about 770 euro.

BTW, some of us like to have a few euro on hand when we arrive (I bring what I had left over from the last trip). Over here, Wells Fargo has the best exchange rate, but you have to be a customer.

There are ATM cards with better rates than Wells Fargo. Credit Unions often charge 1% and a few charge no exchange rate fees (discounts). Be sure to let your bank know you will be making withdrawals in Europe.

Sorry I inverted the numbers- but edited my post

Hotels can charge your credit card. However some towns have a tourist tax, the amount varies according to the star rating, number of guests and some other factors. This always has to be paid in cash, and you should be given a receipt for the payment.

Yes, €1,00 = about $1.23 today.

You can also write it 1,00 € or 1,00 EUR. It's good to start thinking in € as much as possible. The $ isn't used for euros.

When you contact your credit and debit card providers to tell them you'll be traveling and where, be sure to find out what your debit card cash limit is. Then use Google or a currency converter online to find out how many euros you can ask for without going over that limit.

For more money tips, go to the Money advice on this website. One of the most important ones is to say no to Dynamic Currency Conversion.

Many credit card and ATM users don't care where you are going If you are using a 4 digit. Number PIN on a chip card. I would still call them.
I use the credit card anytime I can, and use relatively little cash when out of the country. We don't make that many ATM withdrawals. I use a credit union ATM vs. my Wells Fargo ATM that charges $5 and 5% currency discount which I consider excessive.

We are the reverse and use cash about 95% of the time especially if we can get a hotel discount for cash. If not, then we use the credit card. There are no different views -- the cheapest and most convenient way to obtain local currency is a debit card at a bank own ATM in country. Even if your card issuer charges fees, it is still cheaper than any other method.

Normally, it is less costly to get Euros at an ATM in Europe than to buy Euros either at your bank or an exchange booth. And you will want some Euro cash as not everyone takes credit cards everywhere yet. But, factoring in what your bank changes you for using your ATM card in Europe, it might not make any difference or not enough of a difference to care about.

Let's say you want €1000. At the current Google rate (US$1.23 per Euro) will cost $1,232.00 ignoring any fees.

With the Wells ATM fee of $5 + 5% (similar at Chase), an ATM withdrawal in Europe of this amount costs $1,298.50 or $66.50 over the rate and if you can't get this much in a single withdrawal you have to add $5 for each additional transaction.

My bank, Chase, currently has a rate when they sell to the customer of US$1.35 per Euro making the total cost $1,350.00 for the same €1000 or $118.00 over the published rate. Wells has a similar rate for currency exchange, but only sells to account holders.

This means buying currency here will cost you about $52.50 more than getting the same out of an ATM in Europe given the fee structure. (Rates fluctuate throughout the day, so no guarantee this math will all be exactly the same when you actually get the Euros.)

Of course it would be better to have a no foreign fee debit card, like those issued by Capital One 360 or Charles Schwab for example, but is it worth the effort to open the new account if you will not be making regular trips out of the US. Only tou can decide.

Each person has their own comfort zone. I like to have a little cash when I land so I don't have to go to an ATM the first day when I am jet-lagged. I like to have about 200€ ahead of time so I can get transportation to my hotel and a meal or two, then get the rest at an ATM. By the time you need to pay the tourist tax you'll have been there a few days and can go to an ATM for more money.

I also travel solo and if I were with others I might feel more confident about going directly to an ATM in my destination right after landing.

I would not get ALL the money you plan to spend before you go.

I ordered euros today. Yes, I know I would have saved money getting them at an ATM, but the thought of not having to deal with an ATM right off the bat makes me happy:)

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 two 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. With regard to the three to five Euro fee you asked about, that is usually a tax that must be paid in cash.

In our city, you do not have to be a customer of Wells Fargo to get foreign currencies there. You do have to pay a fee ($7 or so). Perhaps account holders do not have to pay that fee, I am not sure.

I split between using a Credit Card and cash, but try to use a CC most of the time since it has no transaction fees. You should have some cash since there are some stores and restaurants, and even some B&Bs don’t take CCs. On my last trip to Belgium I used my ATM to get Euros for my trip in the fall, since the 3% transaction fee is less than getting them from a bank or currency exchange in the states.