Planning a trip to Europe and wondering how to get your hands on Euros while still in the United States? You’re in the right place. Securing foreign currency before you travel is a smart move, helping you avoid unfavorable exchange rates and hefty fees often found abroad. This guide will walk you through the various options available to get Euros in the US, from traditional methods like banks and exchange services to savvy alternatives like the Wise Multi-Currency Card, ensuring you get the most value for your money.
Getting Euros in the US might seem straightforward, but not all methods are created equal. It’s crucial to be aware of potential pitfalls, such as airport kiosks and tourist traps, which are notorious for inflated costs and poor exchange rates. These locations often capitalize on travelers’ last-minute needs, leading to significantly less favorable deals. Therefore, planning ahead is key to securing your Euros efficiently and economically.
Traditional Methods: Banks and Currency Exchange Services
For many, the first thought when needing foreign currency is their local bank. Indeed, banks often provide currency exchange services, allowing you to purchase Euros directly. However, it’s essential to approach this option with a discerning eye, as bank exchange rates can vary and may not always be the most competitive.
The exchange rate is a critical factor to consider. It dictates how many Euros you receive for your US dollars. Even if a bank advertises low or no fees, a less favorable exchange rate can significantly diminish the amount of foreign currency you receive. Always compare the offered rate to the mid-market exchange rate – the real exchange rate you see on Google or financial websites like XE.com – to gauge the true cost.
Here are a few examples of banks offering foreign currency exchange in the US:
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Wells Fargo: As a Wells Fargo customer, you can conveniently order foreign currency online, in person at a branch, or via phone. Depending on your location and service availability, you can opt for home delivery within 2 to 7 business days.
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Citi: Citi account holders have access to over 50 foreign currencies, which can be ordered by phone. Next business day delivery to your address is available, incurring a $5 service fee (waived for Citigold and Citi Priority Account Package customers) and delivery fees starting at $10. Branch delivery is free. Citi states they use “competitive currency exchange rates”.
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Bank of America: Bank of America customers can purchase foreign currency online without incurring service fees. However, it’s important to remember that the exchange rate itself incorporates charges. Exchange rates are transparently displayed before purchase, and orders placed before 2 pm are shipped the same day. Delivery fees may apply for orders under $1,000, or you can choose branch pickup where available.
Image alt: Exterior view of a Wells Fargo bank branch in a sunny urban setting, showcasing its storefront and logo.
Beyond banks, currency exchange services offer another avenue for obtaining Euros. These services, like banks, allow you to order currency online for either home delivery or in-person collection. While potentially convenient, especially for urgent needs, currency exchange services also warrant careful consideration regarding exchange rates.
Currency Exchange International (CXI) stands out as a major player in the US currency exchange market. They provide online ordering for over 90 currencies, including Euros, and boast a network of approximately 30 branches in major US cities.
Key features of CXI include:
- A “Best Rate Guarantee,” promising to match or surpass exchange rates offered by local banks or airports (subject to conditions).
- Next-day home delivery for online orders in many areas.
- Exchange rates and fees are not publicly listed online; you must register with CXI to access this information.
- Exchange rates might differ between branches.
Image alt: A Currency Exchange International (CXI) storefront in a busy shopping mall, highlighting its bright signage and accessible location.
The Smart Traveler’s Choice: Wise Multi-Currency Card
While banks and currency exchange services are traditional routes to get Euros, a more modern and often more cost-effective solution exists: the Wise Multi-Currency Card. This card presents a convenient and transparent way to manage your travel funds and spend in Euros without the typical burdens of traditional currency exchange.
The Wise Multi-Currency Card is designed for international spending and offers several advantages for travelers needing Euros:
- Global Spending: Use the card in 175 countries, including throughout Europe, wherever Mastercard or Visa are accepted.
- Mid-Market Exchange Rates: When you spend in Euros, Wise automatically converts your US dollars at the mid-market exchange rate, ensuring you get the fairest possible rate.
- Low and Transparent Fees: A small conversion fee applies for currency exchange, or it’s fee-free if you already hold Euros in your Wise account. This transparency is a significant advantage over services that obscure costs within less favorable exchange rates.
- ATM Withdrawals: Withdraw up to $100 USD equivalent in foreign currency for free from ATMs internationally each month.
With the Wise Multi-Currency Card, you bypass the need to physically exchange currency before you travel. Instead, you spend directly in Euros (or any other currency you need) and let Wise handle the conversion at competitive rates. This eliminates the need to carry large amounts of cash, worry about fluctuating exchange rates during your trip, or get caught out by hidden fees.
Order a Wise Multi-Currency Card today
Frequently Asked Questions
What is the cheapest way to get euros in the US?
Comparing exchange rates and fees between your bank and services like CXI is advisable. However, the Wise Multi-Currency Card often emerges as a cheaper alternative due to its use of the mid-market exchange rate and low, transparent fees.
Can you get euros at the US Post Office?
While the US Postal Service (USPS) facilitates international money transfers, they do not sell foreign currency directly.
Can you get Euros from US banks?
Yes, many US banks offer Euro exchange services, and some provide home delivery, often for an additional fee.
Should I exchange money before I travel to Europe?
Unless you’re using a multi-currency card like the Wise card, exchanging currency before traveling is generally recommended. Airports, hotels, and tourist exchange kiosks are typically much more expensive due to poor exchange rates and high fees. Planning ahead and securing your Euros in the US through a bank, exchange service, or a Wise Multi-Currency Card will likely save you money and hassle.
Sources used for this article:
Sources checked on 18-Jan-2023.
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