euro questions

That's simple....check out Wellsfargo.com. I use it to purchase most of my euros in advance of travel. The exchange rate is competative and I think the fee is 10 dollars. They FedEx the money to you. Plus it is treated as a straight out purchase on your credit card (no extra fee).

I just called BofA. You have to have an account with them to buy foreign currency.

If you have a bank account with a debit card, that's the best way to get money when you're in Europe. Leave your money at home in the account connected to the card. There are ATMs everywhere in Europe now that will accept Visa and Mastercard debit cards. Some U.S. banks have European partner banks and won't charge an international transaction fee.

But if you don't have an ATM card then find a source where you live, probably at a bank, where you can buy American Express EURO travellers checks. When you get to Europe you can take them into a bank to exchange for currency, although there will probably be some sort of transaction fee for the service, no doubt, and it will have to be at a bank that offers a currency exchange service. Look for the chart of exchange rates in the window. That's usually an indication that they will make the exchange.

Be advised that if you use a credit card in an ATM machine to get currency you'll be charged a cash advance fee and a higher interest rate for each withdrawl over and above the 'regular' transaction fee.

If you don't want to leave home without some euros in your pocket (a sentiment with which I strongly agree), it will be hard to avoid a large service charge. Only you can decide if the convenience and security of having a bit of money is worth the charge or bad rate you will get here. For utmost convenience, I went to the local AAA office last year to get one of their packs before going. I knew I would be needing money for a taxi upon landing in Florence. I got 62 euros for my $100 which at the time was not HORRIBLE but still not good at all. As it turned out, there was a working ATM right in the arrivals hall in the airport, but it was at night and could easily have been empty or down.

The point is - of course no one wants to needlessly waste money, but in the scheme of a trip that costs thousands of dollars and could be a once in a lifetime opportunity, an extra $10-15 to make sure I can get to my hotel and a snack without having to rush around to find a working ATM is well worth that peace of mind.

Then, when you're there, bring home some with you that you get from the ATM so you won't have to worry about it for the next time - and there will be a next time! :)

I opened an Ally money market account for fee-free withdrawals, and I have a Capital One account that I use only sporadically at home but maintain it for fee-free charging overseas.

Be sure to advise your credit cars company of where you will be, BEFORE you leave, so that they dont block purchases or withdrawals. CCs are ok but not favorable for getting cash due to the "cash advance" factor. Get a debit card from your bank and tell THEM where u will be.

Steve is right. Though I haven't yet had a problem getting local currency at an ATM at my arrival airport or train station, there is always a f/c exchange option 24/7.

I also do what Steve does, bring some US cash just in case. To date, I haven't needed it but it's never a bad idea to have a back up.

Tell your bank to expect withdrawals from ATMs in the countries where you will travel. Tell your credit card companies the countries where you will travel. Ask the credit card companies and the banks what fees you will incur.
Last year I used the credit card with the cheapest fee. This year I have a capital one credit card with no fees.
I was able to get euros from ATMs (They are at airports and at many banks). But one day in Rome, my ATM card would not work. I spent several hours trying different banks; finally I called the 24-hour phone number of Wachovia (my bank) and learned that the network was down. They called me and sent me an email when the system was back up -- lesson - do not run down your euro balance so small that you have none to use if the ATMs are not working that day.

Thank you to all for all the good info.
I checed with BofA and yes, I must have an account with them to get Euro's for USofA cash. But...Wells Frago will exchange USofA dollars for cash by just walking into their banks.

Ck www.forignexchangeservices.com you can get a list of Wells Fargo banks that offer that service. I have a bank 20 miles from my house. The exchange rate is $1.32US = 1 Euro. The rate today is $1.27Us = 1 Euro.
I agree I will take some Euro's with me and use my credit card. I checked and Capital One offers a Mastercard with NO prcentage for International exchange rate. I have a Visa and American Express but they chg for exchange rate. I will use my new Mastercard I will be receiving in the mail with in two weeks.
Thanks again to all for all the wonderful advise.
Carol

Just returned but before I left I went to my local auto club (AAA) and they had Euros on hand, they even gave me the best exchange rate.

It's really not necessary to buy euro here in the States. I don't bother with that anymore. All major European International Airports have ATM machines you can easily access upon arrival. If it is your intention to get more euro once you're in Europe using an ATM machine be advised that if you use a credit card for this transaction instead of a debit card you will be charged an extra cash advance fee as well as a higher interest rate for a cash withdrawl. The easiest way to get euro in Europe is to bring along a debit card, Visa or Mastercard, tied to a solvent bank account back home. Just be sure to notify your bank AND Visa/Mastercard of your intention to use cards in Europe.

From your question I am guessing that you have not read a discussion elsewhere on this web site. You should go to: Graffiti Wall, click on Money/Communications, click on ATMs:
Minimizing Fees. Lots of good information there about what you should know. Some of us go to Europe every summer (me) and do not take any European currency with them from the US. I have always just used my DEBIT CARD to get local currency at whatever airport I arrive at and have never had a problem in all of my years of traveling to Europe. I do take a couple of large US bills in case of something going wrong but have never had to use any of them. Happy Travels.

Lee, that's probably true, but I would never leave my own home in the US without some cash on hand, so I can't even imagine going across the world without having just a little bit. Is it an excessive fee to get it in the states first? Sure, but if I'm spending thousands of dollars on a trip, it's worth 10 more to make sure I won't have a problem. I have read stories of eaten or non-accepted ATM cards, empty or broken ATMs etc. To me that's a very very small price to pay for valuable peace of mind. Not everyone needs that insurance, but many of us do.

Take US Dollars instead as a backup to your ATM card. If your card doesn't work or is shredded/eaten, there are currency exchange desks at these same airports. In the long run, for that first exchange, I don't think the exchange rate will be any worse at the airport than it will be at a US bank. If you follow this method be sure that you take only USD $100's and 50's from the newest series issue.

I usually get euros through my bank branch, which is a local one in the area. You should be able to get them from a local bank. Good luck!

Lee's advice is the way to go. My wife and I have been to Europe each summer for the last 20 years and don't bother anymore with getting euros before leaving the US. Get your euros with your debit card upon arrival at your airport in Europe. All of the airport arrival halls have ATM's. We each carry $150 in cash upon departure from the US as emergency money. Never needed it but it's been nice to have upon return to the US. A debit card used at an ATM, not a credit card, is the preferred way to get cash. For reassurance check RS's guidebooks.

Through a "situation" I have two debit cards with separate accounts. I take both cards and if one gets eaten I can go online and move the money to the second account.
Also, taking Euros out of an ATM usually gives you the exchange rate at that moment. Last summer we lucked out and the Euro was at $1.20.