Changing Euros into Dollars in Germany
 

Hey all, I hope I am posting this in the right place. I will go visit my friend next week in Germany and he owes me some money and will pay me in Euros. I will keep some in Euro to spend and use for future travel but will want to convert some back to dollars and bring home with me.

I will need to change about 2-3000 Euros, where will I get the best rate, just a regular bank? Money changer?

Anything else I should now about cash limits while going into/out of DE and USA?

Thanks!! ^

You may get other and better answers to this, but our best recent experience in changing Euros to Dollars ended up being at the AMEX office in NYC. On the same base exchange rate, the money changers in NYC wanted up to 11% (?!?) commission, the banks around 3%, and AMEX charged me (as a non credit-card holder) a flat $4 for the transaction. Cardholders would save $1 and only pay $3. (And the sum was €2,500.) I'm guessing this might be a standard AMEX charge. AND we ended up with more than we could have gotten in Germany. Check with your AMEX in SF before you fly to Europe.

I think amounts under $10,000 don't have to be declared in or out of the US.

Unfortunately, AMEX closed all of their financial centers in Germany during the last year; that used to be convenient.

Ask your friend to go to his bank and see if they will exchange (or pay out the sum in dollars). that has worked often for me.

Otherwise, as the previous post suggests, bring it back and take to the AMEX office on Market St.

Yep....$10,000 and above must be declared.

Thanks guys! I am not in SF anymore, but will be passing thru as soon as I get back so I will keep amex in mind in SF.

What if I bring back 10,000 Euro...they do not take exchange rate into consideration do they?

10,000€ is more than $15,000, so of course you would have to report it.

Have your friend wire you the money. Easiest and least loss of value. Ask your bank where you have your checking account for the SWIFT account code (e.g. Chase in Detroit is CHASUS33) and give that to your friend with your checking account #. He pays 10-20 EUR for the wire transfer in his bank.
Another option is a Deutsche Bank Sparcard with which you can pick up cash for no extra charge (converted at the days exchange rate) at Bank of America ATMs in the US, Scotiabank in Canada, BNP Paribas in France. The reverse works too for BoA checking account ATM cards on DB, Scotiabank and BNP ATMs. I have both the BoA checking account and the DB spar card and it lessens the pain of the sad USD/EUR exchange rate.

Your friend should asked his bank, because of changing this amount he can asked, if his bank is willing to exchange it without a fee.