The Best Places to Get Euros in the USA in 2024: Exploring Wise, Revolut and More
When it comes to getting euros in the USA, two of the biggest names in multi-currency accounts are Wise and Revolut. These online platforms have revolutionized how travelers handle their money overseas by providing seamless currency exchange services, competitive fees, and innovative options. You can buy currency online easily with their help. What makes Wise different from Revolut in 2024? How to buy euros? Where to buy euros? Let’s first explore several primary ways to buy euros.
Where to Get Euros in the US?
There are a few ways to get euros (or buy foreign currency of any other type) in the U.S. before taking your trip. While using your debit card at an ATM in Europe is the cheapest way to get cash, here are some alternatives. So, where to buy euros?
Money Transfer Companies
These services offer either cash pickups or delivery with exchange rate margins and commission fees. It is one of the easiest ways to buy foreign currency. Where traditional banks might have weaker rates, services such as MoneyGram give relatively good options for USD to EUR exchanges.
Banks and Credit Unions
Once popular, banks and credit unions are now considered old-fashioned when it comes to currency exchange. Nevertheless, some still use those to buy foreign currency. New companies have come up with innovative and more affordable digital methods. Avoid traditional banks or credit unions because their rates aren’t so favorable.
Airport Currency Exchanges
Is it the best place to exchange dollars for euros? These places provide convenient last-minute solutions, but they charge high margins and fees. Instead of airport exchanges, it’s better to take out euros from Europe’s ATMs since the exchange margin charged is smaller.
Buy Euros Online for Delivery in the US
You should opt for Revolut’s multi-currency account, which helps convert US dollars into euros online. It is a really convenient way to buy currency online. Other platforms like Travelex also allow buying physical euros or travel cards at better airport exchange rates.
Let’s explore the two options we consider most convenient for those wondering where to get euros.
Wise: The Easiest Way to Bank Internationally
TransferWise, now called Wise, is known for its low-cost and transparent international money transfer services as well as forex transactions. Founded in 2011, Wise is now a global fintech leader that serves millions of clients all over the world. It can be the best answer for those looking for where to get euros.
Features and Benefits
- Transparent pricing: Transparent pricing is one of Wise’s main selling points. Unlike traditional banks, which often disguise charges with inflated exchange rates, users can see the real rate before they trade with an insignificant fee attached.
- Multi-currency account: With a multi-currency account from Wise, you have access to multiple currencies, including Euros, British Pounds Sterling (GBP), US Dollars (USD), etc. This makes it easier for customers who travel frequently to have just one account without worrying about converting money between different currencies.
- Wise card: Whenever you open a multi-currency account, you will be sent a smart debit card, which can be used when making purchases either online or offline anywhere on Earth. In addition to instant virtual cards, physical ones can also be obtained at a small cost. You can buy euros online too.
- Low-cost transfers: Besides currency conversion services offered by Transferwise, they enable low-cost international transfers compared to most traditional banks. Consequently expats, freelancers and enterprises preferring saving on sending funds abroad find it better than other similar providers.
- Linked to Apple Pay and Google Pay: Using this platform enables an investor like me to make contactless payments using my mobile phone while in Europe or any other part of the world where the euro is the official currency.
User Experience
Wise has made user experience its first priority and, therefore, developed a simple mobile app where users can manage their multi-currency accounts as well as view transaction history. The app features real-time notifications, alerts about rates, and past transactions that occur in it thus giving its users increased autonomy over their finances.
Pricing
The firm’s prices are competitive and transparent with low charges and favorable exchange rates. There are no hidden fees or spreads on foreign exchange rates; rather clients only pay a small fee based on the sum exchanged. Millions of people worldwide trust this company for its open pricing structure.
Revolut: A Bank for 21st Century People
How to get euros quickly and easily? Revolut is another answer! In terms of financial services, Revolut has brought about significant changes in traditional banking by offering an array of products that cater to the needs of modern customers. Since its inception four years ago, Revolut has grown rapidly, attracting millions of customers who use its intuitive application, which allows them to perform a wide range of banking activities. Of course, you can buy euros online with its help.
Features and Benefits
- Multi-currency wallet: Like Wise, Revolut provides a multi-currency wallet, which allows for instant currency conversion in more than one hundred fifty currencies. It means you can hold multiple currency balances and switch between them at interbank rates without any hassle.
- Free international transfers: Revolut users can transfer money to each other all over the world at no cost, thus obliterating the need for dear bank wire transfers and third-party payment providers. This aspect is a big plus for tourists, expatriates and firms with businesses that go beyond their borders.
- Cryptocurrency integration: Besides traditional currencies, Revolut also enables its customers to buy, sell, and hold some of these cryptocurrencies like Bitcoin, Ethereum, and Litecoin. The feature targets technology literate investors who want new investment avenues for their digital assets.
Metal and Premium Subscriptions
Revolut has different tiers of premium subscriptions, which include Metal and Premium plans that have features like high withdrawal limits, travel insurance, and cashback on spending. Frequent travelers and those who want more are attracted to these subscription tiers.
Budgeting and Analytics
The app of Revolut comes with powerful budgeting tools as well as spending analytics, enabling users to monitor their expenses and set goals in terms of savings, together with getting an idea concerning how they spend their money. Thus aiding the users in making informed decisions about their finances while promoting financial literacy.
User Experience
Revolut’s user experience is characterized by its sleek design, intuitive interface, and seamless functionality. The customers are able to quickly access various features using the apps’ easy navigation which allows them to perform transactions on-the-go across multiple devices.
Pricing
For different types of consumers, Revolut provides several pricing plans ranging from free basic feature plans to higher premium subscription tiers. Also, some features, such as withdrawing over certain limits at ATMs or exchanging currencies during weekends, could attract some fees, but generally speaking, in this aspect, Revolut is affordable compared to conventional banks.
Wise vs. Revolut: A Comparison
So, you now know how to get euros in the US. Although Wise and Revolut both offer multi-currency accounts as well as currency exchange services at competitive rates, there are some key differences between them which may affect the customer’s choice.
Exchange Rates
While Wise employs real mid-market rate plus a small upfront fee for transparent and competitive exchange rates; on weekends or for specific exotic currencies Revolut would apply interbank exchange rates but might markup that rate slightly.
Fees and Pricing
In most situations Wise charges a small fee based on the amount transacted without any hidden costs or a surcharge added onto the conversion rates. On the other hand, taxes under Revolut vary depending upon the user’s type of subscription plan used together with usage patterns in relation to accessing certain services while others are charged for and some are not.
Features and Integration
Besides foreign exchange, Wise has several other features, including international money transfers, budgeting tools, and mobile payment platform interoperability. However, there are also more options available to users looking for extra functionality, such as premium subscription tiers and cryptocurrency trading in Revolut services, than on the other platform.
Regulatory Compliance
Both Wise and Revolut are regulated financial institutions that adhere to strict compliance standards and security protocols. Meanwhile, this means that customers must be aware of the regulatory requirements or consumer protections required by these platforms, in particular whenever they handle large amounts of money or share sensitive financial information.
Hidden Financial Dangers When Traveling: Safeguarding Your Finances Abroad
While traveling offers exciting opportunities for exploration and adventure, it also exposes individuals to various financial risks and pitfalls. Knowing how to get euros in the US is not enough to be safe.
From unexpected fees to security vulnerabilities, being aware of hidden financial dangers is crucial for safeguarding your finances while abroad. Let’s find out what these common hidden financial dangers among travelers are so that you can avoid them effectively.
Dynamic Currency Conversion (DCC)
Dynamic currency conversion (DCC) is one of the most common ways in which tourists can be unwittingly overcharged. This usually happens when a merchant offers to convert the amount you have spent back into your home currency rather than paying with local currency. It is supposed to be a convenient service, but quite often, it has exorbitant exchange rates coupled with undisclosed charges, hence inflating transaction costs.
In order not to fall into the hands of DCC, it is always good to go for local currency as and when possible. Besides, be cautious of traders who advocate for DCC, and also enlighten yourself by knowing the current exchange rates so that you can make a confident choice as far as converting money is concerned.
ATM Charges and Dynamic Currency Conversion
Using an ATM while traveling is very convenient for obtaining money; however, one should not forget that there are certain fees charged and an exchange rate applied to these cash withdrawals. Some ATMs can charge high transaction fees, currency conversion fees as well as unprofitable exchange rates especially if you accept dynamic currency conversion.
Anyway, how about making fewer but bigger withdrawals to minimize the ATM fees? You may also consider using your bank or network ATMs to avoid having to pay extra charges. Furthermore, select ATMs that apply transactions in local currencies to avoid this trap of dynamic currency conversion.
Hidden Costs on Prepaid Cards and Travel Money Cards
When traveling it is a great idea to use prepaid cards or travel money cards because they cater for any expenses incurred but they may have some hidden costs hence might eat up into your funds. These charges include withdrawal fee from ATMs, reload fee, inactivity fee, currency conversion fee among others.
Please be sure to read through the terms and conditions of a prepaid card or travel money card including the fee schedule before using it. Alternatively, seek out transparent pricing and competitive exchange rates so that you get good value for your money.
Insecure Wi-Fi Networks and Online Threats
Many people who go places find public Wi-Fi networks to be very useful on their way. However, once you have connected with unsecured Wi-Fi networks – all risks associated with cyber security, such as data breaches, identity thefts, and financial fraud, will become yours too.
To minimize online threats when traveling do not connect with unsecured Wi-Fi networks particularly which involve sharing sensitive information like accessing online banking or making any form of financial deal instead use a virtual private network (VPN) so that your internet connection becomes encrypted thereby being able to keep away snoopers from prying over your personal details.
Fraudulent Activities and Scams
Tourists are often exposed by fraudulent schemes which aim at tricking them into giving out personal information or taking away their money. These include fake taxi drivers, counterfeit currency exchange places as well as phishing emails purporting to be sent by bona fide companies and institutions.
To avoid falling into scams when traveling, it is advisable that you approach all unknown persons and businesses cautiously and with some bit of doubt. Look for reputable taxi firms and bureaux to change in advance while keeping guard over personal and financial data from fraudsters.
Final Thoughts
So, the question of where to get euros in the US is not a problem for you now. Wise and Revolut are the two most innovative and cost-effective ways to buy euros in the USA today. Be it transparent exchange rates, a seamless user experience, or others like cryptocurrency integration, both platforms have interesting options for travelers as well as for customers on their way.
By knowing each platform’s unique features and advantages, users can select a solution that meets their financial requirements, enabling flawless transactions in currencies.
