Planning a trip to Europe and wondering Where Can I Buy Euros? Getting your hands on Euros before you travel is a smart move to avoid expensive exchange rates and fees when you arrive. Whether you’re strolling through Paris, exploring Rome, or enjoying a pint in Dublin, having Euros readily available will make your trip smoother and more enjoyable. Fortunately, for those in the US, there are several convenient options to purchase Euros before your departure. This guide will walk you through the best places to buy Euros in the US, helping you make informed decisions and secure the best deals.
Traditional Methods: Banks and Credit Unions
One of the most traditional and reliable ways to buy Euros is through banks and credit unions. Many established financial institutions in the US offer foreign currency exchange services to their customers.
Buying Euros at Your Local Bank
Most major banks, like Wells Fargo, Citi, and Bank of America, provide the option to purchase foreign currencies, including Euros. The convenience of using your existing bank is a significant advantage. Here’s what you should consider:
- Exchange Rates and Fees: Banks typically offer exchange rates that are less favorable than the mid-market rate. While some banks may advertise “no fees,” the cost is often built into the exchange rate itself. It’s crucial to compare the offered exchange rate with the mid-market rate (which you can find on sites like XE.com or Google Finance) to understand the true cost.
- Customer Convenience: Banks like Wells Fargo allow existing customers to order Euros online, by phone, or in person. They can deliver the currency to your home address or make it available for pickup at a branch. Citi also offers home delivery for account holders and waives service fees for certain account packages. Bank of America allows online currency purchases with same-day shipping for orders placed before 2 pm.
- Delivery and Pickup: Home delivery is a convenient option, but it may come with fees, especially for smaller orders. Picking up Euros at a bank branch can avoid delivery fees, but branch availability for currency exchange might be limited, and you may need to be an account holder.
Buying Euros at Credit Unions
Similar to banks, credit unions also offer foreign currency exchange services, often with potentially better exchange rates or lower fees for their members. If you are a member of a credit union, it’s worth checking their foreign currency services. Credit unions are member-owned, non-profit financial cooperatives, which sometimes translates to better rates and fees compared to for-profit banks. Contact your local credit union to inquire about their Euro purchasing options, exchange rates, and any associated fees.
Currency Exchange Services
Beyond banks, specialized currency exchange services offer another avenue to purchase Euros. These services are dedicated to foreign currency exchange and can be found both online and in physical locations.
Currency Exchange International (CXI)
Currency Exchange International (CXI) is a prominent player in the US currency exchange market. They offer a wide range of currencies, including Euros, and boast a large network of branches across major US cities.
- Best Rate Guarantee: CXI claims to offer a “Best Rate Guarantee,” promising to match or beat rates offered by local banks or airports (terms and conditions apply). This can be a significant advantage for customers looking for competitive rates.
- Online and Branch Services: CXI allows you to order Euros online for home delivery or visit one of their physical branches. Next-day home delivery is available in many areas, providing speed and convenience.
- Transparency: One potential drawback of CXI is that exchange rates and fees are not readily displayed online. You typically need to sign up or contact them directly to get this information. Rates can also vary between different branch locations.
Other Exchange Services
Besides CXI, numerous other currency exchange services operate in the US. Companies like Travelex and local exchange bureaus can be found in shopping centers, airports (though airport exchanges are generally more expensive), and tourist areas.
When considering these services, remember to:
- Compare Exchange Rates: Always compare the exchange rate offered to the mid-market rate.
- Inquire About Fees: Ask about all fees and commissions upfront. Some services may advertise “no commission” but compensate with less favorable exchange rates.
- Check Online Reviews: Look for online reviews and ratings to gauge the service quality and reputation of the exchange service.
Modern Solutions: Travel Cards
In today’s digital age, modern financial solutions like multi-currency travel cards offer a convenient and often cost-effective alternative to traditional currency exchange.
Wise Multi-Currency Card
The Wise Multi-Currency Card (formerly TransferWise) stands out as a smart solution for obtaining and spending Euros. It offers a different approach compared to banks and traditional exchange services.
- Mid-Market Exchange Rate: A key benefit of the Wise card is that it uses the mid-market exchange rate for currency conversions. This is the fairest exchange rate, the one you see on Google and currency converter websites.
- Low and Transparent Fees: Wise charges a small, transparent conversion fee, which is significantly lower than the markups often hidden in the exchange rates offered by banks and traditional services. If you already hold Euros in your Wise account, spending with your card is fee-free.
- Convenience and Flexibility: You can load your Wise account with US dollars and then convert to Euros within the account. When you spend using the card in Europe, it automatically converts USD to EUR at the mid-market rate with the low fee. You can also withdraw cash from ATMs internationally, with a certain amount of free withdrawals each month.
- Global Spending: The Wise card works in 175 countries, including throughout Europe, making it a versatile travel companion.
Using a Wise Multi-Currency Card can eliminate the need to carry large amounts of cash and offers better exchange rates and lower fees compared to many traditional options.
Places to Avoid: Airport Kiosks, Hotels, Tourist Traps
It’s crucial to know where not to buy Euros. Airport kiosks, hotel exchange desks, and currency exchange services in tourist hotspots are generally the most expensive places to exchange currency. They often prey on travelers’ convenience and urgency, offering very unfavorable exchange rates and charging high fees. Avoid these options if possible. Planning ahead and using banks, reputable exchange services, or travel cards will save you money and ensure you get more Euros for your dollars.
Frequently Asked Questions
What is the cheapest way to get euros in the US?
Comparing exchange rates and fees from banks, credit unions, and services like CXI is essential. However, a travel card like the Wise Multi-Currency Card often proves to be the cheapest option due to its use of the mid-market exchange rate and low, transparent fees.
Can you get euros at the US Post Office?
No, the US Postal Service (USPS) does not sell foreign currency. They offer international money transfer services but not physical currency exchange.
Can you get Euros from US banks?
Yes, many US banks, including major ones like Wells Fargo, Citi, and Bank of America, offer Euro purchasing services to their customers.
Should I exchange money before I travel to Europe?
Unless you plan to use a multi-currency card like Wise, it’s generally advisable to exchange money before traveling to Europe. Exchanging currency at airports and hotels in Europe is typically very expensive due to poor exchange rates and high fees.
Conclusion
Knowing where to buy Euros in the US is essential for smart travel planning. While traditional options like banks and currency exchange services offer accessible ways to purchase Euros, it’s important to be aware of their exchange rates and fees. Modern solutions like the Wise Multi-Currency Card provide a potentially cheaper and more convenient alternative, offering mid-market exchange rates and low fees. By considering all your options and planning ahead, you can secure the best deals and ensure you have Euros in hand for a fantastic European adventure.
