money in Paris

I am interested in people%26#39;s feedback about the best way to exchange US for Euros and the best way to make purchases in France. In the past I have used my ATM card to withdraw Euros once I am in Europe (I did this in Spain and Italy with no difficulty). My bank charges a 2% fee for this service...it charges 10% if I use my bank card to make purchases (be careful and ask your bank about such charges before you go). My mastercard charges 3% for purchases.

So my question is whether there is a way to exchange US dollars for Euros in the states without paying a fee or is withdrawing Euros abroad still the best option. Most people recommend I stay away from travelers cheques.

Any feedback is most appreciated.

Thank you.

|||

Withdrawing in Europe is best. If you are a AAA member and want to get a 100euro pack before leaving they have them. Banks can get you euros for a fee and advance notice although a big bank in Philly may have them.

My bank only charges 1% and Cap. One Charge Card is less than the 10% you said so you might want to shop around for some different cards before you go.

There have been countless posts about this so use the Search box to get other opinions

|||

10% is obscene!!

Have you investigated getting an account at another bank that charges less?

|||

Mez, as a fellow Aussie, have you used any decent low fee money options here? Cap One sounds great but it%26#39;s American.

Thanks!

|||

Thank you everyone for your replies and also for directing me to use the search box. I did not realize that feature of this website and it so helpful...

|||

CEMP-Philly - lol - Well, I never really helped...I was just outraged! :)

Karen, sorry, I never saw your question earlier. I haven%26#39;t come across any great deals for Aussies. My bank owns me lock, stock and barrel - the only thing I own so far is my bathroom door and a few bricks, with the rest tied up in the mortgage. :)

Most banks charge about 2.5% coversion fees for both credit card transcations and ATM withdrawls.

I *think* that the credit card issued by Wizard Home Loans was good because there were no (or less?) conversion fees. Not sure if that situation is still the same.

As for ATMS, the best thing to do is see if your bank has a reciprocal agreement with foreign banks. Usually, you can take money from those ATMs without the $5 charge most banks charge...this charge being the one on top of the 2.5%.

|||

For the Americans reading this post, Capital One credit card charges NO conversion fees. We recently used it (I have one account, my husband another) for a two week trip to Italy and with over $1500 on each card, there was no fee. Exchange rate was competitive too--changed slightly every day.

|||

If you have time, I would highly recommend finding another bank. With my account, there is no charge for ATM withdrawals, no currency conversion fee for withdrawals or debit card purchases.

You will pay more converting money in the US or purchasing travelers checks.

Someone recently recommended a bank account with Bank of America. And, I have a Capital One card with no currency conversion fees for purchases.

|||

I have an account with a credit union in Oregon which lets me use any ATM machine anywhere in the world with no fees.

I get 100E from AAA before I leave for Paris (it takes about 3 days). Occasionally I use my credit card at restaurants or for big purchases. Otherwise, I get money out of the ATM machine every couple of days.

|||

Thanks Mez for the heads up about Wizard. The Wizard Clear Advantage Visa Card looks quite good, so I%26#39;m going to compare it to the Travelex Cash Passport for the best option. (St George bank%26#39;s rates were shocking!)

Thanks again,

Karen :)

|||

The Royal Bank in Canada only charge a flat rate of $5.00 per withdrawal no service charges.