Please sign in to post.

Best Euro exchange rate locations

I will be in Germany in a few days. Does anyone have any thoughts on where I could find a good place to exchange Dollars to Euros.

Thank you

Posted by
19 posts

Thank you fr replying, What I was hoping for though is actual banks (that might give better rates) or money changing stations if anyone knows of any specific ones?

Posted by
588 posts

ATMS are best. If you involve a person in a bank, it will cost more. ATMs normally give the best rate available. Exchange rates aren't the problem. ATM fees are the problem. See ATM fees in other threads.

Posted by
19 posts

Ah I see the error of my ways here.. I did read Ricks article about banks and fees and atm's and the like. I think what I was hoping for is someone could suggest:

"well I go to %Bank B's% ATM in %German City% or %German City Street% as it has a better exchange rate than %Bank A% in %German City% or %German City Street%..."

I know that rates change frequently and sometimes certain places are better then others and there are a lot of x factors. But was hoping someone had a good experience at a particular ATM or agency that was recent.

Thank you all though for responding and sorry I was not more clear.

Posted by
4555 posts

You won't find one bank giving a better rate of exchange over any other....they tie their exchange rates to the European interbank rate. Where the savings come is in the fees associated with making ATM withdrawals. B of A, for example, has a deal with several European banks, including Deutsche Bank, that eliminates fees. There has also been lots of discussion recently re: Capital One accounts and Schwab accounts for low or refunded fees.

Posted by
23626 posts

The exchange rate will not vary and the foreign bank's ATMs do NOT add any fees. The networks (Plus,Cirrus) add about 1% buried in the exchange rate. Ant fees added will be added by your card issuer. Talk with them.

Posted by
9220 posts

If you do want to change dollars to euros at a bank, the cost is usually around 5 €. If you do it a money exchange, it will be much higher, usually a percentage of how much you are exchanging. They also charge a high fee for cashing travelers checks, not a good way to go.
That said, almost any bank or Sparkasse will exchange your dollars, but the ATM is the easiest cheapest way. If I have a lot of dollars to exchange, (birthday presents, etc.) I go to the "1822 Sparkasse" in my neighborhood. People in the US are not used to this kind of availability to foreign currency, they usually have to order it, wait a couple of days, be home to have it delivered, and pay a huge fee to boot.
Have fun in Germany!

Posted by
1358 posts

All of this advice on ATMs is correct. I have used ATMs in over 30 countries and alway find them best rates, easiest to find and more convenient than banks.

Many of them are on the sidewalk outside a bank or in a post office, service station, mall, retail store, air terminal, RR station or a hotel. Hardly any traveler shops for rates nowadays...they automatically use ATMs.

Posted by
189 posts

Warning: The ATM ate our ATM card in Venice. We asked for more than it allowed and we had no idea what it allowed. Get it straight with your bank before you leave home. Also, make sure your bank knows you'll be in Europe.