foreign currency - exchange vs bank

Are the quotes for buying euros with dollars or buying dollars with euros.

Certain quotes (e.g. WSJ) are for $1,000,000 transactions.

Final note - my MasterCard at an ATM machine has always been better than any change rate or bank even after the MC 2 to 3% commission (Euros in Italy in 2005, Pounds in England 2007, Shekels in Israel in 2009). In previous travels I found banks better than money changers in Hong Kong, Tahiti, Denmark, Spain, Netherlands and cash always better than travelers checks.

ooops - wrong order -

Wells Fargo - 100 euro = $159.18 Chase - 100 euro = $158.89

Yahoo - 100 euro = $150.48

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Banks and airports charge 6% (last I recall) (ripoff). American Express may offer currency conversions at more reasonable rates (for small amounts), via travelers cheques. Best bet is to look in Germany for a dedicated exchange shop. If your son is in the military or diplomatic corps or other, he might have access to better conversions. Might also ask Western Union. The futures quotes you see are for 125k USD (I think that's right - haven't checked on it). Banks trade

MaterCard and Visa charge a 1% fee for withdrawals from foreign currency ATMs. Any fee above 1% is being imposed by your bank/financial institution.

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The foreign currency exchange outfits that say there are "no fees or commissions" are telling a half truth. They are using a very wide bid/offer spread to make money.

For example if the Euro is at $1.50 the bank will buy Euros for $1.41 and sell them for $1.59. A fairer dealer will have a narrower spread, say buy $1.48 and sell $1.52.