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Joined: Jul 2006
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Campfire Tracker
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OP
Campfire Tracker
Joined: Jul 2006
Posts: 5,279 |
I have 95 Euros left over from a trip to Italy. I took them to the bank today (the same bank where I bought the Euros before the trip and it cost only $12 to convert the original dollars to euros, and there was about $8,000 of them). Now they want to charge me $25 to convert 95 Euros back to US dollars. Seems pretty pricy. Is there a better, less expensive way to turn them back into US dollars?
Thanks. Steve.
"I was a deerhunter long before I was a man." ~Gene Wensel's Come November (2000) "A vote is like a rifle; its usefulness depends upon the character of the user." ~Theodore Roosevelt
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Joined: Jan 2006
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Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2006
Posts: 69,259 |
That's a bank for you. When you left, they had competition. You could have taken your dollars with you, converted them there, and the bank would get nothing. Now that you're back, you can't hold them for a better rate and they know it.
βIn a time of deceit telling the truth is a revolutionary act.β β George Orwell
It's not over when you lose. It's over when you quit.
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Joined: Jul 2006
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Campfire Tracker
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OP
Campfire Tracker
Joined: Jul 2006
Posts: 5,279 |
That's a bank for you. When you left, they had competition. You could have taken your dollars with you, converted them there, and the bank would get nothing. Now that you're back, you can't hold them for a better rate and they know it. Maybe, but it's a small town bank and I've been with them for about 35 years. The executive VP lives across the street. One of these days when he's walking his dog I might just ask him about it. Steve.
"I was a deerhunter long before I was a man." ~Gene Wensel's Come November (2000) "A vote is like a rifle; its usefulness depends upon the character of the user." ~Theodore Roosevelt
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Joined: Jun 2003
Posts: 3,871
Campfire Tracker
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Campfire Tracker
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Find somebody heading for Europe and exchange them at the going rate and everybody will be better off and no bank cost involved. You can thank me latter. Cheers NC
don't judge until you have walked a mile in other persons' moccasins' SUM QUOD SUM........HOMINEM TE ESSE MEMENTO
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Joined: Feb 2010
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Campfire Tracker
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Campfire Tracker
Joined: Feb 2010
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Wells Fargo converted some leftover Brazilian Reals and Malaysian Ringgits totaling about $50US for me and gave me the true exchange rate. My credit union wouldn't do it because it was less than $100...
Quando omni flunkus moritati
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Joined: Jan 2001
Posts: 28,365
Campfire Ranger
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Campfire Ranger
Joined: Jan 2001
Posts: 28,365 |
Think like a rifle looney. Buy a ticket to Europe so you can spend those last 95 euros...
Gunnery, gunnery, gunnery. Hit the target, all else is twaddle!
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Joined: Nov 2003
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Campfire Kahuna
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Campfire Kahuna
Joined: Nov 2003
Posts: 67,667 |
commercial transaction always favors the bank. Silly to expect otherwise.
Sam......
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Joined: Jul 2006
Posts: 5,279
Campfire Tracker
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OP
Campfire Tracker
Joined: Jul 2006
Posts: 5,279 |
commercial transaction always favors the bank. Silly to expect otherwise. Goes without saying. But $25 for a $95 transaction? There ought to be a better way. Steve.
"I was a deerhunter long before I was a man." ~Gene Wensel's Come November (2000) "A vote is like a rifle; its usefulness depends upon the character of the user." ~Theodore Roosevelt
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Joined: Sep 2008
Posts: 15,495
Campfire Ranger
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Campfire Ranger
Joined: Sep 2008
Posts: 15,495 |
Banks are single purpose entities - making as much money as possible by using yours. They are doing that because they can - if you cooperate.
NRA Member - Life, Benefactor, Patron
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Campfire Tracker
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Campfire Tracker
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Think like a rifle looney. Buy a ticket to Europe so you can spend those last 95 euros... Exactly! I have some .264 Mag and .45-90 ammo I need to buy rifles for.
Charter Member Ancient order of the 1895 Winchester
"It's an insecure and petite man who demands all others like what he likes and dislike what he dislikes." szihn
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Posts: 598
Campfire Regular
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Campfire Regular
Joined: Jul 2013
Posts: 598 |
My wife and I had about 100 Euros left over from a trip we took last year to Rome, Portugal and Spain. I thought of saving the Euros for our next trip ... then, I found a much finer use for the money.
Our Catholic parish has been blessed with the presence of a fine young seminarian. The young man is at the parish from dawn to goodness knows what time every evening ... he works his butt off.
Currently, he is a transitional deacon and is going to finish up his education at the Pontificial North American College in Rome. My wife and I have been there many times and it is a superb university. Anyway, the seminarian plans to receive an Enhanced Doctorate in Theology from PNAC, just like his older brother.
We gave the 100 Euros to him ... with our total blessings.
At least in our minds, it was the right thing to do.
kd
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Campfire Ranger
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Campfire Ranger
Joined: Jan 2006
Posts: 21,810 |
Think like a rifle looney. Buy a ticket to Europe so you can spend those last 95 euros... Not the least expensive option, but probably the most fun! Great idea!
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Campfire Ranger
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Campfire Ranger
Joined: Jan 2009
Posts: 23,319 |
We just put it in the piggy bank when we get home, then "rob" the bank then next time we go.
"All that the South has ever desired was that the Union, as established by our forefathers, should be preserved, and that the government, as originally organized, should be administered in purity and truth." β Robert E. Lee
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Campfire 'Bwana
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Campfire 'Bwana
Joined: Dec 2013
Posts: 44,053 |
Some good advice here. I've done it a few ways. 1. The BEST way I've found to trade Euros for Dollars is on your way back home to the good old US of A is with Americans traveling the other way, east. That has been the best and purest version I've done. You both know exactly what the other guy has and what it's worth in a free market. Heck, I've even done it with Czech Korunas (crowns) and that was probably the easiest, cleanest transaction I've ever made exchanging currency with a fellow traveler in a public transport environment. And, we were both happy to make the deal. 2. Another option already mentioned by another camper is to just keep them for the next trip. I've done that, too. And, here's a little nugget of info on this option. If you feel you just HAVE to leave home with some Euros, you really only need no more than E100, max. Just something to get you through a European airport or two, maybe one train station, maybe one cab ride, maybe a meal or two at the most. After that, one of your first orders of business once you arrive at destination is to network with your hosts, restaurants, etc. to find the closest and best cambios to make your exchanges. 3. I don't ever buy from the banks, anymore. If we decide to buy any Euros here, it's from AAA. Their exchange is much better than the banks and you can easily check that exchange rate here to make sure it's something you're comfortable with. http://www.xe.com/currencyconverter/
Last edited by local_dirt; 10/25/14.
Slaves get what they need. Free men get what they want. Rehabilitation is way overrated. Orwell wasn't wrong. GOA member disappointed NRA member 24HCF SEARCH
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Campfire Outfitter
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Campfire Outfitter
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I'd just hold on to them or trade them with someone going to Europe. Banks, especially local ones in a small town, will rip you off trying to exchange currency. If you really want to get rid of them then wait until you go through a large airport like Atlanta and trade them at the exchange counter, they still rip you off but not nearly as much as a local bank. A big bank in a major city will be better too.
I travel for a living and even overseas I never change cash, I always hit an ATM. They work all over the world and you'll get a much better exchange rate through them. Your bank will charge a foreign transaction fee but it's usually minimal. I took my MIL to Britain a few years ago and she showed up with a purse full of dollars. I told her not to but she wouldn't listen so the first day there we drove all over the place to find her a bank to change dollars into pounds, after that she was happy. I walked up to an ATM and pulled out a fist full of pound notes without the ridiculous exchange surcharge.
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Campfire Regular
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street
u will always get better rates on the street, if u can hang on to them
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