Exchange money before we leave?

Yes the rate is better at ATM machines. The exchange rate you will get here will probably be much lower so the bank can make money in the transaction. If it makes you feel better to have money before you go then change a small amount ($100 ?) and then get money once you land.

Depends a bit on your bank and what terms they charge for using an ATM.

Take some time to find out what they charge. Does your bank charge for using an ATM out of network? Because most you find in Europe will be out of network. Does your bank charge a foreign transaction fee? Because...well obviously, foreign.

If you use one of the big banks, withdrawing cash can cost you $5 plus a percent due to the above, so many on here use a credit union with no fees, or a Debit Card like Charles Schwab Checking, or Capital One Checking.

To get money (euros) from your bank will usually cost you about 5-7%, even if they charge "no fees" the exchange rate will be poor.

An ATM card, with no fees, will get you cash when you need it, without having to carry hundreds, and not risking to get too little or too much, for ~1% cost, I usually can not see any cost.

Of course some ATMs in Europe also charge fees, and some use an option called DCC to mess with the exchange rate, but you can get by with little currency cost.

More and more though, I use Credit Card. Covid has expanded use as a "Contactless" option; a good credit card will have no additional costs as well.

Take a look here, a good summation from the sponsor of this site: https://www.ricksteves.com/travel-tips/money

Good advice from the others.
Would only add that if you'd feel more comfortable having a little local currency in your pocket upon arrival then consider a "starter pack" from AAA, which consists of about 100 Euros in small denomination bills - perfect for getting you started and easing any pressure you might feel to seek out an ATM immediately upon arrival. Your bank or credit union may offer a similar service. The exchange rate will be terrible, but we're not talking a lot of money here, and it'll probably be worth it to you for the peace of mind.

The exchange rate being bad at a bank is not really true. There may be a service fee but a lot of times they will waive that if you have a premium checking account with the bank. What you want to avoid are currency exchange counters in airports or tourist sites.

Check to see if your bank (if it is a major one like jp morgan or bank of america) has partners in Europe. If you use the atm of a partner bank there usually will not be atm fees. I usually combine that with a foreign exchange fee free credit card when in the EU.

Our local bank exchange rates are awful.
My wife has a Bank of America account, so we did purchase euros once through BOA. The rates were better, but still not as good as an ATM once you arrive in country.

For us it depends on where we are going. We are in Croatia now and the ATMs only give you Kunas. Our B&Bs and tour guides prefer Euros so we got a few before leaving. I am sure our bank rate was better then the money exhange kiosks. One tour guide even said he would take dollars. Croatia is still a Cash preferred country. We haven’t had any instances where they say, No Cash Accepted, like we did at the Amsterdam airport. With Kunas you have to carry many more bills around with you then you would Euros. This is what works for us.

There are ATM's in airports everywhere that take your card. Just make sure you're not using a non-bank ATM like Travelex or American Express. They'll hit you for poor exchange rates.

The ATM is the first place I stop when I hit the ground.

We actually go through relatively little currency when traveling. Public transportation and the train stations are paid with credit cards. We use credit cards for hotels and car rentals. We just use the cash sparingly for snacking and inexpensive meals.

A few suggestions.

Ask any friends who have traveled to Europe if they have Euros to sell. Give them the exchange rate and you have a little to get you started.

Call your bank. Ask them the total cost to buy 200 euros. That should be plenty. Today's lowest exchange rate is 1.18

Keep in mind credit cards are taken by almost everyone in Europe. You may not need any cash before you get to your hotel. The hotel can send you to the closest bank ATM. Be sure you have a no foreign transaction fee credit card.

As others have said, avoid non-bank ATM's.

Finally, to get 200 euros, the fees might cost you $10-15 at your bank. In the grand scheme of your expenses going to Europe, is it worth the effort or concern.

Enjoy your trip....ps...I usually consider I will go over budget 5-7% on each trip for unexpected expenses.

Must repeat the above warning: don't use Travelex atm's, use the machines that are associated with a bank. Travelex exchange rates are terrible!

Also- for credit cards, make sure you are charged in the local currency, not USD.

Safe travels!

We have a Bank of America atm card and try to use its partner bank overseas to avoid fees. If you know you’ll be returning to Europe, take some Euros home with you so you have some to start your next trip.

As others have stated, the least expensive way to get local currency is from an ATM at your destination. But consider a few factors other than cost. There is 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. For those reasons it's always a good idea, in my opinion, to have some local currency in hand when you land. Getting two or three hundred of the local currency from your local bank will cost a little more. But the small extra amount 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 that much.

In any case, be sure to notify your bank and credit card companies that you will be traveling. Otherwise they may see a foreign transaction, suspect fraud, and shut down access to your cards.

One point to keep in mind is that in Italy cash is still preferred by several people and that the cost of the transaction is quite high for the seller (shop, restaurant, hotel...). Often the cost is fixed for every transaction, so shops and bars refuse a payment by credit or debit card if too low. Before 2018 there was a law states that a shop cannot refuse a payment by credit card if higher than 30€, now this limit has been reduced to 5€. So if you want to pay a coffee or a newspaper with a credit card the seller can refuse it and you must use cash. Sometimes even for higher payment, the seller say the "unfortunately the system is not working", "the line is down" or other excuses.
This to say that is better bring some hundred euros cash to come in Italy.

The exchange rate in the US is not good and it can be a hassle to find somewhere to actually make the exchange. That said, Robert is right that AAA can do it and with the small amount you will probably be getting, while the fee may be a sizable percentage, the actual dollar fee won’t be that much.

You've gotten solid advice above and I'll just 2nd Jaime's suggestion above to bring a hundred or so Euro back home so you have some seed money for your next trip, lol!!

Get around a $100 to start (that's what I do) and get the rest when you arrive. This way you aren't stressed to get cash right away. And for $100, the exchange rate won't be bad. I use AAA. Easy and convenient.

If you plan to return to Europe at some point, come home with some Euros so you have them for the next trip.

One thing no one has mentioned.....make sure you alert your bank and credit card companies that you will be traveling or they might decline any attempt to use it overseas.

hey hey daryl
this has always been a yes and no option, with more now saying get some here in the states.
once was all it took to get from my bank here in small denominations, ($200 in 5, 10, and 20 euros). 3 international flights land, long long line at ATM, other ATM doesnt work, rest are travelex. borrowed from friend until we got to hotel. stressed and not nice words in my mind. it was worth the $20 fee i paid bank.
plus many places wanted more than 30euro charge to use debit card.
many answers and options here, up to you now.
enjoy your adventure
aloha

Often the cost is fixed for every transaction, so shops and bars refuse a payment by credit or debit card if too low.

The fees paid by merchants have nothing to do with shopkeepers refusing plastic, by law they pay no fees on transactions lower than 5 €. They refuse only to keep on cheating on their taxes: bars make big money with small purchases and the idea of having to pay taxes on any single coffee-at-the-counter they sell... It drives them mad.

There are apps like Satispay (made and owned in Italy) where merchants pay no fees under 10 € and they have no costs related to the handheld machine; nevertheless most refuse to install Satispay. And I spend my money somewhere else... I have started leaving my wallet at home, things are changing.

Thanks all. Definitely great feedback. I think if I do the math, it makes more sense for us to get most of it here. After fees, I don’t think it is a huge savings and the convenience is probably worth the small difference. A lot of what we do is with small business and I don’t mind using cash at all. From what I can tell the bigger problem is selling back to the bank if you have leftover but we are hoping to go back to Europe next year so we would probably just keep them. Thanks again.

Yes, always bring home 150 Euros or so as "starter cash" for the next trip. Don't need to make your "funny money" come out even at the end.

One more reason to go back - "gotta spend that European money".

One problem with your plan to "get most of the money here" -- you would then be walking around with a lot of cash for much of your trip. If you feel safe doing that, good; I prefer having no more than €200 in my money belt/purse at any one time.

No, it doesn't make sense. We've used only ATMs since they were invented.

I've had to use specialized currency exchanges for some large purchases, (Wise, Money Corp) which are much cheaper than a bank, and even they don't beat an ATM.

Just change $100 in the US and get cash at an ATM.

We've been using ATMs in Europe forever... sometimes their bank ATMs .... also we get a Debit card from our State Employees Credit Union .... Like Schwab it's a bargain .. we have some Euros left over from last trip (on purpose) banks in the states are way to expensive to buy from ... and we both have a card and different pin codes ... if 1 card gets lost it's safe as the pin code is somewhere else... also the daily max which you should always pull out is 350 normally (less cost) skip a day or 2 but if you expect you'll need more Euro's (u have 2 cards) (our apartments are prepaid) for say city tax per person per day might add up say in Rome .... bus/train (we use Flixbus when available) .. oh we put × amount in our debit travel account... if we run low we set up a secure question thingy and can call the number on the back of the debit card to transfer from our money market or other accounts .. hope everyone enjoys Italy as much as we do ... as it keeps pulling us back .... we use Skyscanner basically .... ASAP gave gr8 quotes in the past ... this time we got open jaw ... Venice and home from Rome $527 .... wife and her girlfriend next May ... Naples a d home from Venice was $485 .... short times and connections ... look for last main flight from USA direct to italy ... less chance getting quarantined in a connecting country ... happy traveling y'all

Just be aware that there is a transaction limit, or even a daily limit, on how much you can remove from an ATM.
In my experience, it seems to be about 200 Euro at a time.
Be sure to take at least two bank cards, each from a separate account; in case of loss, theft or a problem with one card.
You don't want your only account locked out while you are there.

My strategy , in many trips to Europe, is to take about 200-300 Euro in cash with me from home , and always keep E100 tucked away somewhere safe and untouched in case of emergency.

When you use an ATM, make sure to use it on a weekday when the bank is open, in case the machine eats your card.
Then you can go in and see if you can get help.
Having been scammed by a thief at an ATM once on the street in Florence, I now only use ATM's that are inside the glass doors of the actual banks, off the street, and never use one out on the street with people close by.
Have your travel partner stand behind you, facing out from the ATM, to keep an eye out for any "interested" observers when you are using the ATM.
Put your money away safely before leaving the glassed in area.

Always have a plan "B" when traveling, what if the ATM is down at the airport, what if your card does not work, also after a long day of travel do you really want to be fumbling around an ATM?
We always take 200€ and divide 100 each between the husband and I. We might need the $$ to use the bathroom, grab a snack, gelato etc,
When we do withdraw from the ATM, like other have said it is always attached if not inside of a bank lobby and we only withdraw 500€ at a time, that can last us at last a week and we only carry 100€ on us a day (that is our risk appetite in case we are pickpocketed). Also if my ATM card does get compromised I have a pattern of behavior to differentiate my activity from fraudulent activity.
I also have a dedicated bank account that is JUST for travel, this way if my card is compromised they do not have access to our daily living accounts, so no risk of any big loss. Our card was compromised on our last day in Italy on our last trip, the account had been depleted down to $500, I did get a voicemail from my bank that they had frozen the card a day before we left and I did not want to deal with it so I just ignored it happy that the card was frozen. Upon returning I learned that multiple attempts had been made to withdraw cash. Our travel couple was not so lucky, they withdrew over $2K in cash from them while they were flying home with the bank unable to reach them due to them being in the air. We both had the same point of compromise using the same ATM in Sorrento. By the way I bank at a small community bank and they bank at a large big name bank.
Also make sure you tell your bank you are traveling so they don't block your card.
We use one credit card for all transactions while in Europe, Hotels, activities, ubers, restaurants etc.
You will find a system that is right for you, everyone has great ideas!

Just to pile on ... I want money in my pocket when I land so I start out with 100 or 200 Euros I got from home. In a major city there should be several money changing places to choose from, not just banks.

Note that Schwab is still the preferred account these days, I just opened one in advance of my next trip. No fees for ATM withdrawals anywhere, and I believe the limit is pretty high.