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Message
Cheapest place to buy euros for trip abroad?
Posted on 3/10/15 at 10:16 am
Posted on 3/10/15 at 10:16 am
I'm going to Italy in May and it's my first trip to Europe. With the rise of the dollar vs the euro, I'd like to buy a couple hundred bucks worth of euros now just in case the dollar loses some ground before then. I assume my bank (Chase) is better than going to a place like Travelex?
This post was edited on 3/10/15 at 10:18 am
6
Posted on 3/10/15 at 10:20 am to chillygentilly
This just sounds like a waste of time.
Just pull it from the ATM on arrival
Just pull it from the ATM on arrival
Posted on 3/10/15 at 10:21 am to chillygentilly
Not a bad idea. You could probably just do it at Chase. If they don't charge fees, you could average it out by making a few exchanges before the trip rather than all at once.
Posted on 3/10/15 at 10:53 am to chillygentilly
You can go to your bank, but call and give them a head's up as they have to order the Euros from the money store.
Posted on 3/10/15 at 11:02 am to Motorboat
1)most banks won't charge you over the day's exchange rate if you have an account with them...they'll deliver the euros to your branch bank if you order in advance. Takes about 2-3 days in the NO area.
2)Italy has ATMs everywhere, so you will have many opportunities to get more money. BUT, be sure you understand the daily international withdrawal limits set by your bank. Don't want to find yourself in a pinch, having maxed out your daily limit but needing to, say, pay a big hotel bill.
3)Capital One credit cards do not charge an exchange fee on foreign transactions. You might want to see if your CC has foreign transaction fees; you never know what sort of emergency might have you pulling that CC out of your pocket (accident, medical treatment, etc)
I'm like you: I always want a few euros in my pocket before I step off the plane. Plenty of people will tell you not to bother, but if you fly into Rome (FCO), all it takes is one or two early arriving international flights to empty out the airport ATM machines. Then you're stuck using a CC for a train ticket, cappuccino upon arrival, etc.
2)Italy has ATMs everywhere, so you will have many opportunities to get more money. BUT, be sure you understand the daily international withdrawal limits set by your bank. Don't want to find yourself in a pinch, having maxed out your daily limit but needing to, say, pay a big hotel bill.
3)Capital One credit cards do not charge an exchange fee on foreign transactions. You might want to see if your CC has foreign transaction fees; you never know what sort of emergency might have you pulling that CC out of your pocket (accident, medical treatment, etc)
I'm like you: I always want a few euros in my pocket before I step off the plane. Plenty of people will tell you not to bother, but if you fly into Rome (FCO), all it takes is one or two early arriving international flights to empty out the airport ATM machines. Then you're stuck using a CC for a train ticket, cappuccino upon arrival, etc.
Posted on 3/10/15 at 11:16 am to hungryone
thanks h o. I had posted in another thread inquiring about this. headed to France and Greece in May / June and wanted to grab some Euros before takeoff. will call Chase or my local credit union instead of trekking out to ATL airport.
Posted on 3/10/15 at 11:32 am to Teddy Ruxpin
quote:
This just sounds like a waste of time.
Just pull it from the ATM on arrival
Listen to this man. Believe it or not, even if all of the airport's ATMs are out of cash (which they won't be), you'll most likely be in a major international airport where they will accept credit cards. If you have a credit card w/ low/no international fees, you're golden until you reach your hotel or public area with an ATM.
I've never had trouble obtaining currency while abroad, but I've always traveled to fairly large metropolises. If you are traveling to a remote area, maybe then you should get cash in advance, but only then IMO.
Posted on 3/10/15 at 11:47 am to CSB
quote:
Believe it or not, even if all of the airport's ATMs are out of cash (which they won't be),
ATMs at Charles de Gaulle in Paris and Fiumicino in Rome are routinely out of cash before 10 am. They get refilled later in the day. ESPECIALLY at FCO, the ATMs won't get refilled after a holiday weekend for several days.
It requires one single phone call to your bank and a single trip there, and you can have a few Euros in your pocket when you land. No, I wouldn't get a huge pile. But a little bit in your pocket is certainly a nice thing to have immediately upon arrival. Transit strikes are pretty common in Italy (though not as common as France), so you can find yourself having to re-figure things on the fly. Cash means you can be flexible without stressing over the change in plans.
Posted on 3/10/15 at 11:50 am to chillygentilly
quote:This isn't going to happen. They're firing up the printing presses over there. Dollar will be at parity before the end of the year; don't buy any euros until you're on the way to the airport.
I'm going to Italy in May and it's my first trip to Europe. With the rise of the dollar vs the euro, I'd like to buy a couple hundred bucks worth of euros now just in case the dollar loses some ground before then.
This post was edited on 3/10/15 at 11:51 am
Posted on 3/10/15 at 12:53 pm to hungryone
quote:
ATMs at Charles de Gaulle in Paris and Fiumicino in Rome are routinely out of cash before 10 am. They get refilled later in the day. ESPECIALLY at FCO, the ATMs won't get refilled after a holiday weekend for several days.
I can't find anyone else online complaining about this phenomenon you are describing. I can believe it for FCO since it is much smaller than CDG. Anyway, I agree that it isn't a huge hassle to get euros from your bank, I've just never bothered to do it that way because it seemed unnecessary to me when there are plenty of ATMs in the terminal.
Do the bank thing if you want.
Posted on 3/10/15 at 2:09 pm to CSB
I have literally never heard of someone having an issue getting money from an ATM at CDG.
Anyway, literally the only reason I still bank with Capital One is that there is no foreign transaction fee on my debit card, so I just walk to the ATM when I land and get that day's trading rate.
Anyway, literally the only reason I still bank with Capital One is that there is no foreign transaction fee on my debit card, so I just walk to the ATM when I land and get that day's trading rate.
Posted on 3/10/15 at 2:33 pm to chillygentilly
So there are differing arguments in this thread. Wanting to have the foreign currency in hand before you arrive and trying to hedge against a USD devaluation are two different things, obviously.
First, most analysts are in agreement that the Euro will continue to decline against the USD in the short term. Don't think you need to buy now. As a matter of fact, I think it would be silly especially considering we are only talking about $200 as you said.
Second, I personally never make an effort to procure a foreign currency before leaving the US and have never had even the slightest issue. Most airport ATMs will provide damn near current market rate and I've never seen a major international hub not have more than enough ATMs open for withdrawal. You are only paying an ATM fee if your card doesn't have free ATM transactions.
My advice is to get an EMV chipped credit card that charges 0 foreign transaction fees, swipe your CC at every "reputable" place you shop, and if asked whether you want to pay in Euro or USD always choose Euro while there.
First, most analysts are in agreement that the Euro will continue to decline against the USD in the short term. Don't think you need to buy now. As a matter of fact, I think it would be silly especially considering we are only talking about $200 as you said.
Second, I personally never make an effort to procure a foreign currency before leaving the US and have never had even the slightest issue. Most airport ATMs will provide damn near current market rate and I've never seen a major international hub not have more than enough ATMs open for withdrawal. You are only paying an ATM fee if your card doesn't have free ATM transactions.
My advice is to get an EMV chipped credit card that charges 0 foreign transaction fees, swipe your CC at every "reputable" place you shop, and if asked whether you want to pay in Euro or USD always choose Euro while there.
Posted on 3/10/15 at 5:02 pm to LSUAfro
quote:
get an EMV chipped credit card
This for sure.
Posted on 3/10/15 at 6:34 pm to soccerfüt
Always have your card billed in euros. The restaurant on St Barths today was converting at 1.20 to bill in dollars. Going through Visa for the exchange I got the current rate.
Posted on 3/10/15 at 6:38 pm to LSUAfro
Good stuff Afro thanks for the post. Bookmarked. 
Posted on 3/10/15 at 8:42 pm to Iosh
quote:
This isn't going to happen. They're firing up the printing presses over there. Dollar will be at parity before the end of the year; don't buy any euros until you're on the way to the airport.
x2
Posted on 3/12/15 at 10:24 am to cave canem
I'm in Grand Cayman this week, the Central Bank here was smart enough to peg the Cayman dollar to the U.S. dollar so win for me.
I wasn't planning on a European vacation this Summer but the fall of the Euro will make it irresistible.
I wasn't planning on a European vacation this Summer but the fall of the Euro will make it irresistible.
Posted on 3/12/15 at 10:43 am to chillygentilly
this isn't just a waste of time, you are might get killed on fees. They often charge way more at your bank than they will off the ATM.
I would strongly suggest getting both a CC and an ATM that doesn't charge foreign fees. I know for credit cards my cap1 doesnt, and for ATM, schwab has a checking acct that doesn/t
I would strongly suggest getting both a CC and an ATM that doesn't charge foreign fees. I know for credit cards my cap1 doesnt, and for ATM, schwab has a checking acct that doesn/t
This post was edited on 3/12/15 at 10:45 am
Posted on 3/12/15 at 11:01 am to Hawkeye95
Ditto on the Capital One card and I buy currency from my local Capital One branch before I go. They don't usually have it on-hand, allow a couple of days lead-time. That's another option.
A single €1,000 note is a bunch of bang for one piece of currency. Spend €s quickly once you get them.
A single €1,000 note is a bunch of bang for one piece of currency. Spend €s quickly once you get them.
Posted on 3/12/15 at 11:35 am to soccerfüt
quote:
€1,000 note
1. I'm pretty sure these don't exist.
2. If they do, good luck finding a retailer that will give you change for it. I've had stores in Europe bitch about a €50 note multiple times.
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