Personal Finance

I need to get Euros, best place

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  • Aug 18th, 2017 1:06 am
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[OP]
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Feb 16, 2003
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I need to get Euros, best place

I need to get some Euros (about 1000) soon and I was wondering where could I get the best deal to get some?
34 replies
Deal Addict
Nov 24, 2013
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Kingston, ON
Cash, right? At the ~1,000 level it's probably not a big difference wherever you get them, but sometimes local currency exchanges are cheaper than big banks (at least with USD).

http://www.wellingtonfx.com/canrates.php

I can buy 1,000 EUR for $1,510 CAD today. That's 3% over opening spot rate. Dunno where the banks are at.
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Aug 8, 2012
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HammerJoe wrote:
Jul 28th, 2017 3:09 pm
Yes i need cash.
Do you need the Euros here? Or are needing it for somewhere you are traveling to? You can maybe just use ATMs to take out cash when you get there and avoid having to carry a large sum with you the whole time.

Some options are:
  1. Chase Visa (Marriott or grandfathered Amazon if you already have it) 0% FX fee + 1% cash fee
  2. Any other credit card for 2.5% FX + cash advance fee
  3. Tangerine or Scotia debit card at a Scotia Global Alliance member ATM to avoid surcharges (still 2.5% FX)
  4. Any other bank ATM card for ~2.5% + ATM fees

1 or 3 would be cheapest. 2 or 4 wouldn't really be much more than overpaying 3% FX locally to get cash.

With the credit card option you avoid paying any actual cash advance interest by prepaying that card before you go and designating that one as an "ATM card" :)
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Deal Fanatic
Feb 15, 2006
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Toronto
For 1,000 just get a a bank branch. It's not a large amount, and not worth the time and travel to go elsewhere for a little difference.
Deal Addict
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Feb 19, 2010
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As Ace alluded to, the best place to get Euros IME is Europe.

ATM + Chase Marriott VISA FTW
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Dec 12, 2016
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HammerJoe wrote:
Jul 28th, 2017 3:09 pm
Yes i need cash.
Whereabouts are you? Wall Street finance has decent rates.
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Conquistador wrote:
Jul 28th, 2017 4:51 pm
As Ace alluded to, the best place to get Euros IME is Europe.

ATM + Chase Marriott VISA FTW
I was actually going to say that but didn't want to sound to snarky :D ... but ya, the best place to get Euros is in Europe! :D
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Newbie
Apr 22, 2010
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Toronto
I got euros from Bendix, I think it is about 0.02 euros cheaper than the TD rate...i.e. if TD is 1.50, their rate is 1.48...
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Feb 19, 2010
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ace604 wrote:
Jul 28th, 2017 5:12 pm
I was actually going to say that but didn't want to sound to snarky :D ... but ya, the best place to get Euros is in Europe! :D
Sometimes the best answer is the easiest one...as in this case. :)

And, as I've done it several times, it is definitely the easiest and best answer.
[OP]
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Feb 16, 2003
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I am going on a trip to Portugal.
I dont have any of those cards.
I have either a TD access card for ATM or rogers mastercard. The rogers will be used for purchases to take advantage of the cash back but they charge $5.00 for cash advances so its out of the question.
Newbie
Apr 18, 2017
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Which exchange places in the GTA is a good choice for USD? For abiut $500-1000 CAD
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Aug 18, 2005
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hockeyfan1990 wrote:
Aug 12th, 2017 12:54 pm
Which exchange places in the GTA is a good choice for USD? For abiut $500-1000 CAD
For that small amount, it's better to just go to your local bank branch. Other places might have better rates, but you'll spend more in that in time, transit costs than the savings.
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Mar 2, 2005
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Arrgh wrote:
Jul 28th, 2017 3:51 pm
For 1,000 just get a a bank branch. It's not a large amount, and not worth the time and travel to go elsewhere for a little difference.
Second that. Its not a large amount, any currency exchange will do.

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