Money question

In general, you get a better rate by using your debit card at an ATM at your destination. Also, if you get it at home you will be carrying a lot of cash - so if you loose it or are robbed, you're out of luck. Better to go several times over the trip. But not all the time - there is a fee for each ATM use, so getting out 20Pounds twice a day doesn't make any sense ;)

Some people, myself included, like to have a small amount of local currency when they arrive, so get about $100 worth before they leave. Paying somewhat higher rates for the security of having it. Then use ATMs the rest of the time. Others prefer to just get it at the airport.

You must have just signed up today for this site otherwise you would have read dozens of responses to your question earlier. The cheapest and most convenient way to obtain local currency will always be a debit card at a bank owned ATM. Bar none!! Actually I am surprised that you credit union would sell foreign currency because most credit unions do not. What is your credit union's exchange rate today?

All fees to use a debit/credit card are determined by your card issuer. There are no automatic fees to use an ATM.

We always visit an ATM at the airport on arrival in Europe. Just be sure not to use an ATM affiliated with an exchange service as you will be charged an exorbitant rate.

https://www.ricksteves.com/travel-tips/money/cash-tips

Don’t buy foreign currency in advance. Some tourists just have to have
euros or pounds in their pockets when they step off the airplane, but
smart travelers don’t bother and know better than to get lousy
stateside exchange rates. Wait until you arrive at your destination;
I’ve never been to an airport in Europe that didn’t have plenty of
ATMs.

https://www.ricksteves.com/travel-tips/money/cash-machine-atm-tips

Throughout Europe, ATMs are the standard way for travelers to get
cash. European ATMs work like your hometown machine and always have
English-language instructions. Using your debit card at an ATM takes
dollars directly from your bank account at home and gives you foreign
cash. You’ll pay fees, but you’ll still get a better rate than you
would exchanging cash dollars at a bank. Ideally, use your debit card
with a Visa or MasterCard logo to take money out of ATMs. Before you
leave on your trip, confirm with your bank that your debit card will
work in Europe and alert them that you’ll be making withdrawals while
traveling — otherwise, they might freeze your card if they detect
unusual spending patterns.

Got it. Thank you everyone for your replies.

I get a little peeved at Rick for calling those of us who like to have enough cash in local currency for a taxi and a meal "not smart" travelers. It has to do with the level of risk. Some of us have been to places with power outages or ATM's that have run out of cash or other various digital glitches. Spending an extra $5 to have local cash in your pocket is smart for anyone who likes to lessen the stress and lower the risk.

Re: ... power outages or ATM's that have run out of cash or other various digital glitches.

Yes, every so often Chicken Little or Henny Penny events can and do happen. Volcanoes erupt, earthquakes/tsunamis happen and airport ATM systems could go into a system wide failure mode. The Rick Steve's back up plan is to:

Bring along some US dollars. While you won’t use it for day-to-day
purchases, American cash in your money belt comes in handy for
emergencies, such as when banks go on strike or your ATM card stops
working. I carry several hundred US dollars as a backup (in
denominations of easy-to-exchange 20s). I’ve been in Greece and
Ireland when every bank went on strike, shutting down without warning.
But hard cash is hard cash. People always know roughly what a dollar
is worth. If local banks don’t have exchange services, you can always
find exchange desks at major train stations or airports.

I try to operate on a 24/48 hr rule. Enough local currency to last for first day or two. Which includes a nice meal out including wine. Gives enough time to find a cash machine, and also gives you a chance to familiarise yourself with the notes if not the coins of the country you are visiting.

Pamela, I always assumed that "smart traveler" remark to be in reference to people who take large amounts of money, not those who take a little to get you through the first day.

You may be right Nancy, but precise language is a really fine thing to use when you are a writer. A lot of people take him at his word on this kind of thing. Also, what do you bet that he has Euros in his pocket when he goes? :)

And BTW back in the day before ATMs I arrived in Greece with only Deutschmarks and Deutschmark traveler's checks in my pocket and it turned out to be a holiday. I was supposed to meeting people who would have been there for a day already and had money. Our plans fell through and I ended up walking to to the "Emergency Contact" that my dad had provided. So, I guess having had to use an emergency contact on my first trip to Europe (granted it was three months into the trip) has made me want to avoid potential problems when I can and not see them as "chicken little" events. My sky was falling. It is so easy to go to the bank and get a $100 worth of your destination currency and if you have to worry about the cost of exchanging $100 then you need to rethink your travel budget! :)

There are smart travelers and smarter travelers who actually arrive with few Euro in their pocket. And I don't always need the bible quoting to remind me which group I am in or should be in.