I will be leaving soon for France from NY. Would you recommend that I exchange USD to EUR at a bank here, or use the ATM machines in Europe? A friend of mine mentioned that the rates were lower when she used ATM machines in Europe. I called my bank and they charge 1%-2% for conversion rates. Please let me know what I should do to get the best rates!
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you get more favorable rates when you take money out of the ATM in europe.
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I don%26#39;t know how soon you%26#39;re leaving, but I usually convert some USD into about 100E to get me to my apartment and buy a few groceries the first day. After that, I get a few hundred euros out of the ATM every 2-3 days. For purchases over $100 or so, I put them on my credit card. Just keep all your receipts so that, when you get home, you can figure out about how much you spent. The added advantage is that you%26#39;re never carrying large amounts of cash with you. Make sure to let your bank and credit card companies know you%26#39;re traveling so they don%26#39;t freeze your accounts.
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I do the numbers annually - you%26#39;re always better off to hit one of the ATMs at the airport - especially if your choice is purchasing Euros from a US bank. Triple A might be a better choice, but nowhere in the US will come close to the ATM networks.
Yes, I know there are charges made by the banks - but the rate is so much more favourable, that I always end up 2 or 3 % better off at the ATM - a not inconsiderable amount when you consider all your spending money for the entire trip.
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