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How to get large amounts of Euros ahead of time for trip?

Linda Yoder

10+ Posts
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We are going to Greece with our family in May. There will be 12 of us and we are paying for everything. The problem is everywhere we book all want to be paid is cash. (understandably.) We have almost always paid cash for our travels in Europe to help the local small businesses. A little harder when your paying for 12! Our bank only allows 500.00 ATM withdrawals per card per day. Our bank does not have an International Department either. Any idea how I can get a large chunk of Euros before going and a good rate?
 
You might not want to have large amounts of cash as you travel, but if there is a bank nearby (even if you aren't a customer) they may allow you to purchase euros for an extra fee. Another suggestion, ask if your bank will allow you a larger withdrawal amount during your travels. If you are traveling with a partner or spouse, I have learned that my bank's withdrawal limit is per card, not per account, so if your bank applies the same rule, you may be able to withdraw $1,000 per day even without raising the per day limit.
 
Does American Express still let you write a check for up to $2100 every 3 weeks? That is what we used for cash during our 1988-89 trip - a long time ago, so this may have changed. We could go into any American Express office and cash a US check.

Otherwise, order cash from your bank at home to take with you. Then make sure to get your maximum daily amount from an ATM while traveling to keep it topped up.

OR - give each family member a US check to deposit and then they pay you back by withdrawing from an ATM in Europe!
 
I don't know if you'll be going that high, but if what you're taking comes to over $10,000, you need to file a declaration with U.S. Customs: information

Editing to add: Try to get in advance just what you'll need in the first few days, then use ATMs. You can compare bottom-line prices for X number of euros from AAA and and banks in your area, and some outfits that ship it.
 
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Have you asked your bank if they will make a short term change to the maximum daily withdrawl amount? My bank will up the amount, over their "normal" limit, for the just days I am travelling and then it goes back down.
 
I asked the bank or an increase on two other trips and both times they said yes but when we got there it didn’t work. Maybe third time is a charm!
 
Do you need to have a AMEX to cash a check? For some unknown reason we have never had one.
 
For those based in the UK, you can get a Euro cash card, which you top up online (the conversion rate is typically better than banks etc.) and then use like a debit card.

We use FairFx, which has a transaction fee for cashpoint withdrawals, but no fee for direct payments in shops etc. and the exchange rate was the best when we priced them up, and still seems to hold a good margin vs. bank advertised rates. It's a Visa card, so widely accepted & I've yet to find a machine in Italy that doesn't take it.

The upside for this scenario, is no limit on withdrawals (excepting you can only withdraw what you have in), and withdrawing in larger amounts makes the rate outweigh the transaction fee (IIRC €150-200 at a time was about the break even vs. other cards).

Worth pricing up what's in the market these days, and for those in the US, worth checking if you are allowed to take such cards out - I was told they weren't allowed for some odd reason.
 
We need to do the same, we are paying cash for our apartment in Rome. Normally we withdraw $ once we have arrived at the airport but I am worried, as it's a large amount, that our limit will be reached and I don't want that stress after a 30 hour flight.
So I am going to bit the bullet and order cash from the currency exchange here. I know I will get a better rate in Italy, but for less stress I am doing it this way.
 
We need to do the same, we are paying cash for our apartment in Rome. Normally we withdraw $ once we have arrived at the airport but I am worried, as it's a large amount, that our limit will be reached and I don't want that stress after a 30 hour flight.
So I am going to bit the bullet and order cash from the currency exchange here. I know I will get a better rate in Italy, but for less stress I am doing it this way.
With the Euro climbing higher, you may be better off buying now. It was 1.24 last I checked.
 
I order through my credit union and it's great to be able to specify the Euro denomination that I want. It may be bulky but saves time trying to get the smaller notes when there, at least for the first week or so. I compared to AAA's exchange rate, and my credit union was a bit less.
 

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