Yes, you get the best exchange rate available to an individual by using a debit card linked to your personal bank account. The fees, if any, are less than the rate you'd pay for exchanging currency or foreign currency exchange fees for purchases with your credit card (Capital One and other no fee credit cards excepted).

Answer is, it depends

First, you need to check if your HOME bank has any association with a bank(s) in Europe. You may be able to use certain ATMs without a fee, if they do.

Same for credit cards. Depends your card and what transaction fees and currency exchange rates it applies. Could be a good deal (0%) could be a bit of a rip-off (3%).

You can also exchange USD for local currency, cash-to-cash.

Most likely anything you do in Europe (within reason) will get you a better rate than exchanging at home in advance. But again depends on your HOME bank's fees and services.

Ask your bank what their fees are - foreign conversion fee and use of non-bank ATM.

I have a Capital One bank account (as well as credit cards) that charges NO fees. I also have a Credit Union account that charges 1% foreign conversion fee, gives five free ATM withdrawals/month and then charges $1/transaction. Anything more is a rip-off.

If you do carry a lot of cash instead of using plastic, wear a money belt!

Whenthere in May BancoDi Roma ATM FCO right by luggage pick up got me great exchange rate. I never
travel with Debit Card 100% liability if stolen.
I use no foreign fee CC 0% liability.
coinmill.com daily correct exchange varies a lot.
I never use money changers #1 rip off in Europa
they willclip you up to 35% if you do not do your
homework. Good luck PM if needed.

Visa CC capitalone.com Venture gets me double miles on everything Use for flight hotels rental cars anything I want... no foreign fees.

Most banks in Europe would never change your US cash into their currency unless you are a customer of their bank.
I work for the airlines and fly international every week and none of my airline coworkers ever use those exchange desks in the airport (never good deals).We always use ATM's and they are on every corner in Rome.Try to get your money when in Rome and other big cities in non touristy areas and then watch your bags!
American Express office by the Spanish Steps in Rome will exchange US money if you have their card and your passport with you for a decent rate.
Always remember when taking money out of an ATM machine anywhere to:
look around the area you are using to make sure that there aren't strange mirrors or things taped on the machine or strange peeps nearby watching you.
make sure you use a machine that has your particular card type on it (Cirrus,Visa,etc.).
AND always when finished with your transaction go back on the keypad and type in 4 other strange numbers with ENTER so no one can come after you with a copying machine to get your real pin numbers.
ATM's are safe,easy and reliable but just wanted to share various experiences and what our airline corporate security has shared with us as travelers!

Honestly, whether your bank charges a 0% or 3% foreign transaction fee on ATM withdrawals overseas and even if you have a $5 withdrawal fee, it is almost always cheaper to take foreign currency out of an ATM abroad than to change money at home.

If you do have to pay a fee on top of the foreign exchange fee, then just take out more money at a time to mitigate the cost. If you take 300 euros at a time, then you still lose less than 5% even if you have to pay a high $5 withdrawal fee per transaction. If you change money at home, you'll likely lose about 8% on each transaction due to the bad exchange rate (regardless of whether you bank does or does not charge a "fee" it's built into the transaction).

Ideally, as others suggest, use an ATM abroad that you can use fee-free so you only lose 3% on each transaction, and you will do the best. You can also exchange cash at a currency-exchange booth but will probably get a lousy rate, and it's not safe to carry a lot of cash around anyway.

My bank, withdrawing from my checking account, charges 1%. That's all. Just ask your bank (not your credit card institution) where you have your checking account with associated debit card what the charge is. If it's more than 1% find another bank and open a checking account.

The 1% is the Visa fee and my small local bank adds no fee of their own. That's the best deal.

"That's the best deal."

No, the best deal is a Capital One on-line account (NOT to be confused with their credit cards, also the best deal around), which charges zero per cent.