Home Forums Hunting & Shooting Hunter's Campfire converting Euros to dollars

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.

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.

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

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...

Think like a rifle looney. Buy a ticket to Europe so you can spend those last 95 euros...

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.

Banks are single purpose entities - making as much money as possible by using yours. They are doing that because they can - if you cooperate.

Exactly! I have some .264 Mag and .45-90 ammo I need to buy rifles for.

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

Not the least expensive option, but probably the most fun! Great idea!

We just put it in the piggy bank when we get home, then "rob" the bank then next time we go.

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/

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.

street

u will always get better rates on the street, if u can hang on to them