USD to Euros Currency Exchange?

Question

Rank the following as far as good deals go

Exchanging from US to Euros:

Bank in the US
Bank in Europe with USD in cash (germany, austria, or Czech Republic)
Bank in Europe with Travellers checks
ATM in Europe (with debit card)
Airport/Exchange "store" in Europe

thanks!

Answer 1

I used to work in a bank. The best rate comes from credit/Debit cards used in ATMs.

I have avoided all of the others because of this.

Answer 2

Exchanging from US to Euros:
The $ has already lost approx. 10% of its value in the last 6 months. When the Euro first came available you could buy 1 Euro for $.82 but today it will cost you $1.36 to buy 1 Euro.
The $ is depreciating every minute around the world. Within the next 1- max. 2 year no one will even want it. The American government knows this and that is why they are ready to abolish the dollar and begin distributing a new currency called the Amero. The new money is ready and the banks will implement the plan as soon as the President says to do it. This will bankrupt everyone holding dollars. The American dollar will become like Civil War Money totally worthless.

Bank in the US:
Get all your money as well as your body out of America NOW!

Bank in Europe with USD in cash (germany, austria, or Czech Republic):
Swiss Franks is the most safest currency but no currency is as safe as gold and silver.

Bank in Europe with Travellers checks:
No difference as Cash except for security purposes. You may get less or a fraction more for T.C. Check within the countries where you will be exchanging the T.C.

ATM in Europe (with debit card):
It will cost you a a significant amount to use your card. I would only use it in an emergency. Better to use T.C. than debit card.

Airport/Exchange "store" in Europe:
Airport and stores will give you the worst exchange rate.

Answer 3

Check with you bank what it cost to use your debit card, it should be free or charge or at most $0.25 each time you get money out of an ATM. If you have to pay more, go to other banks and ask around.
Try to get one that works with Mastercard or Visa, they will have an extra symbol called Cirrus, they work in the mayority of the ATM's worldwide.
Using this you get the best rate for your money, often a better one than what is announced everywhere.

Using credit cards can be free of charge or token fee only, but often they charge a flat fee or a percentage. This can be as much as $10 each use or 5% with a minimum of $5.
Shopping and paying hotel-bills with a creditcard is (almost) free, and the better option when the bill is more than about $25.

For emergencies you can take $100 dollars in $20 and $10 dollar bills, as any European business and bank will change them, for the rare occation that the ATM's do not work.

With Travellers checks you pay double, first when you buy the checks, then again when you try to get money on them.
Most shops and smaller hotels in Europe do not want them, often refusing or pretending not to know what to do with them.

If you take cash, and want to change a little bit, like up to 20 Dollar, go to a 'shop' like exchange, where they do not charge a fee, you get less for your money, but save a lot on the charges.
If you want to change more, like $100 or more, go to a bank or airport change office, with these amounts the charge will be evened out by the better rate.

Answer 4

ATM in Europe & Airport Exchange are great ideas, bank rates are always far lower