Selling Euros

Old Jul 13, 12, 1:42 pm
  #1  
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Selling Euros

I just got back from a Europe trip and have several hundred Euros.

I'm headed to Vegas next weekend and thought that might be a good place to exchange them for dollars. I've seen rates posted at casino cages so know they do it. Has anyone done this?

Is it a total rip off on the rate? Am I better off just going to my local BofA branch or an exchange place at the airport?
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Old Jul 13, 12, 5:06 pm
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I think most casinos don't charge an explicit commission, but I have no idea if the rates are favorable - hopefully someone else can comment on that. I would certainly avoid airport exchanges and would probably avoid retail bank branches as well, as they tend to have fees and unfavorable rates. Worst case you could go to Fashion Show Mall as there is an Amex branch there - they usually have good rates.
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Old Jul 14, 12, 6:04 pm
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Being in a major market such as Boston you should be able to go to the major banks or they have legit currency exchange places and get fair value.

In the major casinos you should be able to use them for chips.
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Old Jul 14, 12, 10:57 pm
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Originally Posted by Yahtzee View Post
I just got back from a Europe trip and have several hundred Euros.

I'm headed to Vegas next weekend and thought that might be a good place to exchange them for dollars. I've seen rates posted at casino cages so know they do it. Has anyone done this?

Is it a total rip off on the rate? Am I better off just going to my local BofA branch or an exchange place at the airport?
i would take my chances in a back alley in moscow over BofA. ba is selling at 1.29/$ while the bank rate is 1.22/$.

however, for 400, the cost to convert is about $25. not worth the hassle to chase around.
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Old Jul 27, 12, 9:43 am
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While I brought the Euros, I happily did not need to tap into them. I did ask what the exchange rate was and was told 1.186. That's quite a haircut.
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Old Aug 9, 12, 6:11 am
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Originally Posted by Yahtzee View Post
While I brought the Euros, I happily did not need to tap into them. I did ask what the exchange rate was and was told 1.186. That's quite a haircut.
Even though the rate 1.186 is lower than the 1.22 rate, the Casinos don't charge a commission, banks frequently do.
[Money changes in Europe (and in the USA as well), sometimes post enticing rates, but when you read the fine print (and in some cases it is very fine) you find out they tack on a fee (commission) unless you are doing huge transactions. At JFK T8, I've passed money changing booths, the have a big sign NO FEE (but the fine, in small letters, that is only for transactions of over a $X).]

Last edited by nrr; Aug 9, 12 at 6:40 am
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Old Aug 9, 12, 6:38 am
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The real Hair Cut is holding them, seems they are droping in value, much like the US Dollar. both seen to have less buying power.
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Old Aug 21, 12, 3:24 am
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Mirage Hotel

Mirage always seems to have the best rate. They don't post their rates on a sign, just ask a cashier. Good exchange rates just are a long time promo there.
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Old Sep 14, 12, 7:30 am
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I exchanged some other currencies at the MGM cage last week. I got a decent rate (~3% off of interbank) with no minimum or explicit commission. Cash-for-cash, no hassle. For small exchanges, the no-transaction-fee is a real winner.
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Old Sep 26, 12, 11:32 pm
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Best exchange rate is a money exchange on Convention Center Drive, in office building on south side of street. Street is only one block long.
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Old Sep 29, 12, 1:13 am
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Elizabeth

Yes, that is Elizabeth's FOREX shop. I have done business with her for twenty years. I think her margins are very fair. But if the Mirage will take your currency, you will do slightly better there. Elizabeth, however, will take practically everything, whereas Mirage only takes the major currencies.
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