Euro deposits into an American bank account

im getting paid cash (euros) but want to deposit it into my savings bank account from bank of new york so i dont spend it all. my bank is affiliated with tons so thats not the issue but is it possible for me to deposit the money (and have it change to dollars) and if so where is the best place to do this? thanks!

Why Bank One? Citibank will allow you to deposit funds in Euros and do a free of charge wire transfer to your Citibank account at home. There is already another thread on this topic. Do a search on the forum home page

Here's the thread:

International Money Transfers with Paypal, Taking money out of Germany the easy way

I'm confused by the concept of saving money at the age of 18?

Citibank is a great alternative if you can set it up but barring that I would recommend opening a savings account here and just transferring a lump sum back to the States at the end of your stay (if you don't feel comfortable transporting the cash in your pocket). If you're really worried about spending the money, you could always buy a short-term CD from a bank here and then you'll even earn interest tax free. The CD will tie up your money for the required time and you won't have access to it without paying penalties. Ask at the bank about "Termingeld".

Yes, you can transfer euros to dollars for free with Citibank, provided you have an account over there already opened, have the Credit card (not atm card) and the checkbook with you for verification. Plus you need to know the address of the bank, which is on the checks.

I said something on the other thread about 20$ being taken out each time but I never followed up. Well, they tracked it down (finally) and credited it back. So check your amounts before filing your paperwork away.
-p

anyone know how much it costs to wire money back to the states?

Erdbeere - please do a search on this topic as there are so many out there (that I have contributed to).
Or search on XE.com (within TT). That is what I use and is the cheapest and pretty quick.

Follow some of the links above for suggestions. I should also add that, before I left Munich, I was able to do a large wire transfer to my US bank and specify that all the charges be paid in the US. It cost a total of $12 (had I paid in Germany, it would have been €25).

Edit: Btw, my US bank is Washington Mutual.

ja...i reccommend citibank as well, i'm with them and they offer all sorts of services must of these other banks don't.

Yeah, it would have been nice to know the Citibank stuff *before* I moved to Munich. I'd have opened an account in the US before leaving.

I'd just like to add that, since you're already in Munich and may not have a Citibank account, it would be a good idea to check first with your US bank what the fees would be. My Hypo-bank tried to tell me that it would be best to pay the fees on their end, because the US bank would likely charge more, but my US bank charged less than half what Hypo did.

same here, i had no idea citibank were in here...otherwise i would have join them in UK before moving here.