greenbacks for euro

One reason you hear little on hard currency exchange is that fewer and fewer people actually do it. ATMs offer the best competitive rates and if your card has no or few fees, it can't be beat. With hard currency, you are at the mercy of exchange counters, which have both fees and less than competitive exchange rates. I guess I would suggest avoiding airport and tourist destination locations, and go to a good bank.

Dollars are good if stashed in your money belt for an emergency fund. Otherwise, you'll get killed on exchange rates trying to exchange directly for euros. Plus, it's hard to do away from airports and rail stations.

I hope you're taking your ATM card as well as a credit card. You'll have easier access to cash because ATMs are everywhere and are easy to use.

The first two posters are giving you good advice.

I travel to Italy yearly, and have never, ever taken cash: there is no point at all. Take an ATM card. Also, don't be so worried: I never use a money belt. Enjoy Roma.

Also, unless you're staying in one place for awhile, it's hard timing those banking hours! ATM best way to go.

Before you make a final decision, read Rick's article on the subject: www.ricksteves.com/plan/tips/moneytip.htm. Be sure to notify your credit card company--and your bank, too, if you choose to go the ATM route--about your trip BEFORE YOU LEAVE or your accounts may be frozen by a computer for what it thinks is fraudulent use.

Plus over a point you need to declare the cash to customs. It's a fairly high number but I could see somebody going on a three month trip hitting the limit.

I can't imagine carrying cash. I'd rather deal with the cost of travelers cheques.

Don't take travellers cheques. No one will accept them due to the cost of processing.

I'm not suggesting taking travelers cheques. But if I had the choice of carrying wads of cash or travelers cheques I would lean to the cheques.

The reason that you don't hear much about dollars to Euros in Europe is that the exchange rate is steep. Expect to lose about 15%-20% of your stash at an airport kiosk. If you exhange in high tourist areas, it could be as high as 40%. I actually saw places in Florence near the Accadamia and the Uffizi that would take a 40% cut. I did the math and conversions. Outside of a bank in Europe, there is no cheap way to exchange dollars for euros. They see you coming. And, if your credit card fails?...

But Zeke, traveler's checks are nearly worthless. Too much fraud.

We always convert our currency here through our bank. We are old fashioned and do not use ATMs. While we are in the minority on this board - we find most of the people we know and travel with do not use ATMs either.

Sally, I believe the question concerns the most economical way to obtain foreign currency. You probably using different banks than I do in the Littleton area but have never found a decent exchange rate for amounts less than a $1000. If you found an exchange rate less than 5% over the bank rate, I would to know. Even if you have to pay up to 3% on a debit card exchange rate, it is still better than any exchange rate I have ever seen at any money changers.

From my experiences these past few years, I would take some Euro's ahead of time amd plan to use my ATM as needed for in Italy or any other country in Europe as needed for ready cash for Taxi's. buses, etc. We used my husband's credit card to pay for big ticket items Italy in Sept like dinner, hotel bills, etc. I would not recommend carrying our USA dollars except for maybe $20 or $30 dollars for use at the airport at home waiting for the plane or on you return. 30 years ago when I first started traveling to Europe, countires behind the "Iron Curtain" wanted me to pay in $$$ because our money was worth more to them, but times have changed. From my experience of traveling nowdays no one wants your USA $. The Euro really makes sense. Wear your money belt and use it. Remember to tell your bank that you are traveling in Europe before you leave. Just be cautious around the airport, train stations, and crowds. Don't carry too much in your regular pockets and you will be okay. Enjoy your trip!

Definatley take the ATM and use at BIG BANK ATM machines over there. I also like to take 200-300 euros with me for the first couple days, use the good CreditCard for big buys, and ATM only for Cash machines. I also have a $100 US bill just incase in the money belt.

DO NOT TAKE US $$ WITH YOU!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! That goes for travelers checques (Even if they are EUROS). We just got home from Italy and even the smallest villages have at least 1 ATM (BANCOMAT). Take your ATM card and take out what you need as you go. The ATM fees are very low (we paid 2.00 on average). You will waist your time and money trying to exchange US dollars over there.

BTW - we just got back and most exchange places quoted $1.90 per 1 euro, even though the actual exchange rate was closer to $1.40.

Enjoy your vacation, don't get screwed, just take your ATM card.

for those that say "Don't take dollars", I say "Wrong!!!"
You don't need to buy euros here unless you absolutely know you won't find an ATM machine before needing them but if you are not sure, the $$ are an emergency backup - not to use but just in case.

Once in Holland, we got off the plane, found the ATM was broken, hopped on the train to Eindoven and then found a bank that took our ATM. We converted emergency $$ until the next day when we finally found a different bank. That bank had branches everywhere in Amsterdam.
Similarly, in Spain in 2000, we found the hard way two ATM cards were eaten because they were no good do to Y2K. Thought we had checked them. Rather than taking a chance on our last one, we used $$ then verified the card at a bank before our last card was eaten.
Bottom line, use ATM and CC but take $100 or so emergency money just in case but figure on never using it. I'd take $$ rather than converting €€ over here as they charge too much.

Returned last week after two weeks in Italy. Wonderful trip! I prepared in advance to use ATMs. Took two different bank ATM cards, called in advance letting them know the dates, but also took some US $$. Glad I did....all the ATMs at the airport, train station, and about town did not accept the ATM cards the first day. Even the toll free numbers on the back of the cards did not work. I emailed the banks to say ..."I cannot get to my money!!!" We exchanged $200 at the airport and got killed on the commission and fees, but we had some money. ATMs worked the next day. Another reminder, cash advance on credit cards has a steep price... 3% plus a daily interest rate of about 23% from the day you take the cash!! WOW!!

Lea: I'm glad you shared your story with us, because it can happen and has happened, occasionally, to others--it is a reason why a prudent person might want to consider not arriving at the first airport with no euros in your pocket. It is relatively easy to obtain a small amount of euros over here, from the local AAA office or wherever--just in case. Just because what happened to you has not yet happened to others, doesn't mean it can't happen to them in the future. It's a fairly easy way to avoid having your vacation start out on a stressful note.

I recently had a similar experience to Lea. Arriving in Mallorca from the U.K., I could not get euro from the first five ATMs that I tried. It was not my card that was the problem, since a local resident in front of me was similarly unable to withdraw money.

Fortunately, I had sufficient money to buy lunch, and when I tried again later in the day everything worked fine. I am always happier arriving in a country with some local money, usually carried over from a previous visit. The first transactions you make are often small ones.

Incidentally, there are lots of places in the U.K. to exchange dollars for pounds, including many Post Offices, banks, travel agents and branches of Marks & Spencers. You should expect to lose about 10% on the transaction, but its better than starving. I see no harm in bringing $200 which you could exchange, spend on the journey, or use back home.

Do not, I repeat, do not take dollars. You are going to get absolutely killed on the exchange rate. Use your ATM card as most banks only charge 1%. Changing dollars at banks and Western Union places will charge you a very high fee!! You will lose way to much money doing it that way. Believe me please, leave your dollars in the bank and use your ATM card!!!!!!!!!!!!!!!!!!!!!!!!