This may be a dumb question, but do European banks charge fees for converting US dollars into euros.
Last time I was in Europe I was surprised by all the fees attached to using ATM machines. What is the best way to change money??
Posted by
Honolulu/Seattle, HI/WA, USA
2787 posts
I go to Europe every summer and have never taken any US money to convert over there. I go to ATM machines and use one of two DEBIT cards which withdraw from my checking account at either of two financial institutions here in the US.
The one I use most often is tied to a local credit union that does not mark up any fees that may be assessed by the financial institution that owns the ATM. I often see money exchange places wherever I may be in Europe and they charge some terrible rates to exchange US funds. There are lots of posts on this web site about using Capital One "plastic" as they charge no fees. Good luck.
Posted by
Tresana, Highlands Ranch, CO, USA
23626 posts
I don't know how many times it has to be posted here but the cheapest and most convenient way to obtain foreign currency is a debit card at an ATM. Bank fees will be higher than your debit card. The key is finding debit cards that do not charge fees as is common with many credit unions. But even if your debit charges 3% it is still cheaper than any other alternative.