# Where to purchase Euros?



## Malibu Sky (Jun 12, 2007)

My son is going to Rome and my daughter to Scandinavia.  I wanted to purchase Euros for them before they leave.  Does anyone know a reputable company I can purchase from on-line?

Thanks

Hummm....now that I think about it, I know Italy uses the Euro...does Scandinavia?


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## amshah97 (Jun 12, 2007)

I just returned from Italy myself.  I ended up getting Euros through Bank of America because they let you specify 'small' bills as opposed to 'large bills'.  Order online HERE and then pick up at a branch (if non-BofA customer) or at home (if BofA customer)

Also looked at:
Wells Fargo
AMEX -> I believe this was expensive


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## JoAnn (Jun 12, 2007)

Sun Trust) will get them for you.  You tell them how many you want about a week before you want to pick them up.  It will cost $15 for any amount you want.  We'll probably order ours about July 1 for our trip starting July 13.


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## Rmelnyk (Jun 12, 2007)

*Euros*

Just about any major banks have them on hand.  I went into my Wells Fargo branch and bought them right then and there, also pounds.


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## barndweller (Jun 12, 2007)

I got $100 worth at my little local bank up in the boonies. Then I got a weeks worth at the airport when I arrived in Brussels. From then on I simply withdrew from a handy ATM as I needed.


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## isisdave (Jun 13, 2007)

AAA sometimes sells euros, you get about $90 worth for $100. Only they didn't have any available last time I wanted some.

The easiest way to get them is out of an ATM at the airport when you land. Then buy a coffee to get change.  Actually, European ATMs often dispense two or even three denominations of bills, which is much more convenient than the "wad o' twenties" you usually get in the US.

Norway doesn't use euros, but the other three scandinavian countries do.


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## Malibu Sky (Jun 13, 2007)

Thanks for all the responses.  

Once my kids get to their destinations they will use the ATM's...I just wanted to send them with some cash.  I forgot that most local banks sell foreign currency...I will go to our local B of A tomorrow.


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## joycapecod (Jun 13, 2007)

We just got back from Francce and Greece and I had some Euros left over from last year. We took a chance and got more from Bank of America just to be sure we had at least 100 Euros each in our wallets upon arrival. The rest of what we needed we got through local ATM machines while there. The fees from our checking account via ATM card was $5 plus the foreign transaction fees. We took out 600 Euros for $5 plus $8.01 in fees.

ATM machines are all over France and Greece now and it is much more convenient that having to order and carry the currency...and you only need to take out what you want or need. Now, just like using an ATM in the US make sure you don't use it every day as the out of network fees will get crazy.

Credit Cards are now taken at most places when just five years ago they were not and places  (at least where we used ours) did not tack on a 3% users fee at point of sale.

Joy


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## Carolinian (Jun 13, 2007)

As to Scandanavia, only Finland uses the euro among Scandanavian countries.  Denmark, Sweden, and Norway each use their own national kronor, which is seperate for each nation.  Voters in Denmark and Sweden voted to keep their own proud national currencies rather than switch to the euro.  Voters in Norway voted not to even belong to the EU in the first place!

As to Rome, I fly in to the airport, use plastic for the train ticket into Rome, then walk out and find a nearby bank to get euros with my ATM card.  That is the best value.  Buying euros over here generally gets a very poor rate.  Back in the days of the lire, one could walk across the street and just down the block from the train station in Rome and get great exchange rates with no commission from exchange houses, but when the euro came in those days disappeared.  Since the euro arrived, exchange houses are not the way to go in any country unfortunate enough to use that currency, as the exchange rates have gotten much worse and commissions have either risen or appeared where they were not there before.


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## Ann-Marie (Jun 13, 2007)

I ordered them from the Bank of America website.  Once I ordered $300. in Euros, and they sent them to my house free of charge.  The second time I ordered $1,000.  I had to have them delivered to the local branch for free pick up.  It took 2 or 3 days.


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## riverdees05 (Jun 13, 2007)

Can you return them to the local Bank of America, if you don't use them all?


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## Ann-Marie (Jun 13, 2007)

I would think so.  But you will probably have to wait for the money to be credited to you.

Edited to add, you can exchange them at the airports on the way home.


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## glenn1000 (Jun 13, 2007)

I have gotten foreign currency from B of A and used an ATM. Is there any significant difference in the rate you get? I thought that you did better with an ATM.


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## Bill4728 (Jun 13, 2007)

There is a huge difference in the rate and fees from the ATMs and B of A.  BofA gives you a poor rate and then charges a large fee for foreign cash. The atm's give a much better rate and if you use a Credit Union at both ends of the deal (use your US credit union card in a foreign credit union ATM) the fees are almost nothing.


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## Ann-Marie (Jun 13, 2007)

I never took money ou of the ATM, however my AMEX and Chase Visa both charged me an exchange fee of 1%.


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## Carolinian (Jun 15, 2007)

Banks in this country and airports are some of the worst places to exchange currency.  They have poor rates, high commissions, or both.

There are two places exchange houses make money in foreign exchange transactions, the spread between buying and selling rates, and a ''commission'' which is a percentage service charge.  In most countries of eastern Europe, I can find exchange houses with a spread between rates of 2% or less and no commission.  In some countries it is not difficult to find a spread of 1% or less and no commission.  In pre-euro western Europe, in many countries one could find a 2-3% spread and no commission if they looked a little.  Now that the euro has arrived, commissions seem to be almost everywhere and the spread has gotten noticably worse, mostly 5% or more.  I have seen commissions as high as 10% of the transaction.

ATM's use rates with very low spread because they use the bank-to-bank exchange rates which are the lowest out there.  The 1% foreign exchange fee charged by some cards is akin to a commission.

Train stations are also a very poor place to change money, as again they have poor rates and high commission.  One exception used to be Keleti station in Budapest the first few times I was there, but that is not true anymore.  Many places, one can walk out the door of the station and find exchange houses with good rates and/or no commission, but exchange houses inside the station take you to the cleaners.  

There are exceptions to the rule about airports being a poor place to exchange, too.  I found decent rates at the Mexico City airport, and the Zurich airport also has decent rates (but it varies by terminal - the exchange house in one termnial charges a commission but the other doesn't and they have the same spread).


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## Jimster (Jun 15, 2007)

*Banks*

Any major bank will have Euros to purchase but the question is at what rate.  Most of the tmie the rate is very poor.  I believe Net Bank offers  you the option of getting money in Euros at a reasonable rate if you have an account.  Personally, I always bring back Euros of Pounds to use on my next trip.  Lately, not only has that been convenient but it has been the source of monetary appreciation.  The dollar is a disaster compared to the Euro.


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