Best Way to Exchange Dollars to Euros

My bank now charges $5 for each transaction, where previously I had 3 free exchanges per month. We are traveling in Sevilla, Cordoba, Granada, Madrid and Barcelona. Is there a maximum amount of cash you can get out of an ATM machine? If so, what is that amount? I would like to be able to get 1000 or 1200 Euros at a time if possible, since I have to pay for 2 apartments in cash. I think Traveler's Cheques is a bad way to exchange money because the rate is not good, correct? Any help would be greatly appreciated. Scott

Well, I was going to say that ATM was the best choice, though I can't remember if you can get that much out. You might try using an ATM two or three times consecutively, taking out a few hundred each time to get to your total. You might be able to get 1000 at once. I'm not sure. You could always have money wired from home.

Be sure to also check the Exchanging Dollars to Euro thread in this forum category.

Saludos, MadridMan

You know, I have this idea that you can take different maximum amounts out of different ATM machines, but I can't remember if I figured that out in Spain or somewhere else. I have this idea that you can get more cash out of a machine inside a bank than outside a bank, and from a larger, better-known bank than a smaller, more local one. (I never checked this theory, and there are probably loads of exceptions based on where you are.) When I've needed large amounts of cash ($1000 - $1200 sounds like it may be too high for one ATM transaction), I've gone to different banks' ATMs, and even planned to take my max out of one the night before, and the rest the next morning.

Check with your U.S. bank. Typically, the maximum withdrawal is determined by the local bank. Often, it's $500 or even $300 at a time. With the current exchange rates, you may be limited to 400 Euros.

Seems to me the Caja Madrid ATMs allowed a maximum of 500 Euros withdrawn at one time (or probably, per day).

Saludos, MadridMan

The maximum is a combination of what your bank allows for daily withdrawals and what the ATM's bank allows for maximum transaction. Most US banks I'm familiar with have a max between $300 and $500 per day. I've also found that when I've made an ATM withdrawal in the evening in Madrid. I'm unable to make another one before US banking hours the next day.

I was told that you could go to a local bank and request more than the limit of a normal atm for the same fee. I've never tried it, but make sure you know what your limit is in dollars, and what that is approximately in euros, I had no problem getting my bank to increase my withdrawl limit once I called them and explained why.

I need to have 500 Euros for a flat to rent when we arrive Madrid in December.
I've got B of A and we use Deutsche Bank ATM in Spain. Does anyone know if I can get that much in one day?

Thanks

I use a British bank card ( LLoyds TSB ) - Mastercard ..And I can withdraw 500 Euros easily from the CajaMadrid ATMs ... But some ATMs from the regional banks will cap your withdrawal at 300 Euros . Also ,bear in mind , that Spanish banks , disgracefully , charge commision for withdrawing your own cash ... Sometimes upto 5 Euros . Steve

If possible, join a credit union and get a credit card and ATM card. I did this for a recent trip to London and was really pleased.

They usually tend to have the lowest overseas fees.

SS

My limit with two of my banks is 800 Euros a day - quite a bit actually!.. I hope I dont spend that much in a day ...

Thank you everyone!

I spoke with Amex. They said I could get some a travler cheques in the amount I need and exchange for Euros at Barajas.

Amex even went so far as to call Barajas for me to confirm. That was way cool.

I love my American Express card.

Membership has its Privileges

I'm still not use to the idea of renting a flat and paying up front. We'll see how it goes.

...Rodolfo...a couple of things to sleep on..

...Prior to a recent trip to Argentina the B&B that i booked required a deposit and they requested it be sent via Western Union. It worked well.
...I also read somewhere of a person who sent money to himself with Western Union...i don't recall the details and i can not vouch for the accuracy!!! I think it had something to do with having an "account" with them and then activating the transaction by e-mail????
...Be aware that many places will not accept travelers cheques these days...it was certainly the case in Buenos Aires.
...I hope things work out OK

....Rodolfo...this may have been where i got the W/Union info from: http://www.tripadvisor.com/ShowTopic-g29...-Argentina.html

...MM...i hope it is OK to post this link

Of course, Neddie. It's okay.

Best of luck, Madrid in May!

Saludos, MadridMan