BofA, Wells Fargo and other retail US banks charge an arm and a leg of spread for dealing in euros.
The stock FXE is an exchange-traded trust which holds euros, and will pay interest as well. Yes, there is tax on the gains, but it is very liquid to just buy in your brokerage account. Tax on gains seems fair ….
An ATM in continental Europe is not a bad suggestion.
But beware the US retail bank – you will get killed in both directions.
They might say “no commission”, but if they sell euros for $1.70 and pay you $1.40 for your euros, you get the idea.
