I'll be landing in Munich with an amount of Euro paper larger than I would like. Is there a product at a bank that will allow me to convert these into a debit card/s?
Posted by
New Paltz, NY
9110 posts
Yes, there are prepaid debit cards. You can purchase them at most any currency exchange desk at the airport.
Posted by
San Francisco, California, USA
446 posts
I think you will pay a big premium for this. The exchange rate at these exchange bureaus is usually terrible.
Posted by
washington
837 posts
Phil, assuming you have a US bank account and that hopefully you haven't already purchase euro from a bank, why not use your US debit card (get one if you don't have one) and use it at European ATMs? The ATM exchange rate is better than exchange services in Europe and than US banks. While not a bank, as an example, AAA charges an effective rate of 19% on its cash packs. Many banks will reimburse you for some if not all charges made by owners of ATMs. You will pay a transaction fee separate from the ATM fee, but it will be far less than bank discounts or exchange company fees.
Posted by
Newport Beach, CA, USA
769 posts
Id agree - take your US ATM and go to big bank ATM machines for the best rate over there. I like to show up with 100-300 Euros just so I dont have to find one the min I land - but dont bother with debit cards in Euros unless you plan to go often and set up a small bank account in Germany that you can reach from US or Online. Otherwise - dont worry. If you need 1000s of Euros youre usually just as well accessing them from your reliable big US Bank. The vendors dont care as long as there is a MC/Visa logo on it. But I still pref to use a Credit Card or ATM cash vs a debit card incase they make a mistake (and then you have to wait to get the cash back vs a Credit card!)
Posted by
West Coast, California, USA
485 posts
Just make sure that you notify your bank in the US that you'll be traveling to Europe.
I took my ATM card and was NEVER able to access cash at any machine. Using my card as a charge transaction worked every time, though. When I returned home my bank told me that I should have notified them in advance.