How to change money EUR to $ in better way (Philadelphia: credit card, how much)

[extomas]

Hello guys, maybe anyone knows how and where are nearest place to buy dollars paying in euros at best price. I have tried Travelex but they are quite expensive.
Me and my team can't open a bank account because we are not US residents? Or maybe this conditions differ from bank? Any other solution somewhere around Bethlegem, Easton, Philadelphia?

I appreciate your answers.

[flyonpa]

Hit a ATM when you get State Side.

Hang on to your Euro, Get USD the ATM, Spend the all before you leave.

[extomas]

This isn't clear for me, I have euros in cash so I need to exchange it to usd currency. How can I do that if I am not a resident?

[flyonpa]

How much "Cash" are you looking to get?

US banks do not do exchanges well, and they do it with high fees.

Most Banks/Tellers will never see a foreign exchange in there entire banking careers, outside of the Major Banks in the Major Arrival Cities.

The "Best suggestion" is to hang on to your EURO's and take them home with you, The exchange rates and fees you will lose 10%+ or more in the transaction.

When I go overseas, I hit up a ATM machine for local money, any only pull out what I call "Walking" around money.

I have a No foreign exchange fee credit card, just about everything goes on my Credit Card.

Normally things less then equivalent amount of $10USD I will pay in cash.

[extomas]

I and my team have more than few thousands.
And yes I understand what are you saying, that I will lose so money when exchange. So thats ehy I am seeking to find best and cheaper way to exchange.

One more question, what about ATM which accept cash, in usa there are any ? Maybe they accept euros if I would use some card which is sold in Wallmart ? As I understand this type of cards are prepaid and maybe I can put in euros and get dollars at normal exchange rate ?

[toobusytoday]

No ATM will accept foreign currency and they will only take US money if you are depositing it into a bank account. I think this bank will exchange your money: https://www.lafambank.com/viewpage.asp?n=273 Also, you might ask at AAA AAA Prepaid Visa Cards & Traveler's Cheques: Safe, Secure AAA Travel Money.

[PacoMartin]

The last time I brought a significant amount of cash overseas was about 30 years ago. It is simply too expensive. The best thing is to take money out of the ATM. {Done preaching}

That said, it may be worth your while to go to NYC to exchange thousands of Euros for dollars. Be safe and split the cash up.

There is no real reason to compete for xchange rates in the Lehigh Valley, as there is so little foreign currency here.

Omnex Group Foreign Exchange
43 W 33rd St New York, NY 10001
b/t Broadway & 5th Ave in Koreatown, Midtown West

[toobusytoday]

I have no clue why you would bring thousands of dollars of foreign currency into this country unless it's for shady reasons. The cost of going somewhere like NYC to get a better deal than an airport currency exchange place is going to negate any savings. If you aren't here yet, take the advice of posters on this board and just use an ATM. Leave your cash at home. Unless you are fleeing the country. In that case, I can see why you would have lots of cash. :-)

[PacoMartin]

Originally Posted by toobusytoday

I have no clue why you would bring thousands of dollars of foreign currency into this country unless it's for shady reasons. Leave your cash at home.

Originally Posted by extomas

Hello, my name is Tomas and I am from Lithuania (if anyone will be interested where it is pm me), living in Bethlehem now. I am working in USA for a month, my company send me here to gain more experience in conveyer systems mounting, I am mechanical.

Toobusy,

First of all the OP is already here. So it is a done deal. Secondly, it is a mistake to always assume that people who have large amounts of cash are on the dark side of the law. You might notice that his questions are very naive and are not anything like you would expect from someone laundering money.

Lithuania adopted the euro only 10 weeks ago, and this man has spent most of that time in Bethlehem. Until at least 1 July, and possibly longer, the lita and the Euro will be circulating side by side.

Changing currency is a very anxious time. At the present time the Euro is on a prolonged slide against the dollar. Since adoption of the Euro in Lithuania in those short 10 weeks, the euro has dropped from $1.214 to $1.058 or 12.85%. The euro was almost as high as $1.40 last year. The general consensus is that it will drop to dollar parity or even lower.

It is conceivable that this man has tens of thousands or even hundreds of thousands of dollars and he is doing nothing more suspicious than trying to protect the value of savings of his extended family who are daily reading news accounts of a plunging euro and skyping him constantly. Notice that he keeps referring to his team.

If that is the case, the cost of a bus ride to NYC is probably nothing. His chief concern is not getting attacked.

It is quite possible that you never have more than $100 on you, and you conduct your entire business via credit and debit cards. You may view cash as something that makes you vulnerable to theft, mugging or simple carelessness. It wouldn't be unusual at all for you to think that way. When the Mexican peso lost 50% of it's value to the US dollar in the early 1990's, almost a third of the small businesses in Mexico closed in a few weeks. Life savings could vanish overnight. People were desperate to try and turn their pesos into dollars as fast as possible.

Originally Posted by flyonpa

The "Best suggestion" is to hang on to your EURO's and take them home with you, The exchange rates and fees you will lose 10%+ or more in the transaction.

That is the best suggestion if the dollar/euro exchange was stable. He could lose 10% just by sitting here.

[toobusytoday]

Thanks for your explanation Paco. I've traveled overseas more than most people but as a tourist, never with my life savings or more cash than a couple of hundred dollars. I had no idea that Lithuania just adopted the euro, so I stand corrected on just about everything!