Automatic Teller Machine
 

Can anyone advise me on the best strategy for purchasing Euros at CDG airport? Is there a automatic cash/teller machine where i can withdrawl money using a Visa card? I prefer to use my Visa card rather than exchange foreign currencies.

Which terminal are you flying into? There are of course ATM machines at both terminals, but in my experience, there are usually long lines or the machine is out of order. Get some euros before you go so you don't have to deal with this after an all-night flight.

Do you mean you are using a Visa Credit card to get cash? If so you will be paying a HEFTY cash advance fee wherever you get money. Minimum is usually about $10,00 per transaction and a sorry rate of exchange plus the 1-3% conversion fee.

Don't you have an ATM card tied to your checking account? If not get one! I paid $1.22 on Visa purchases and $1.17 or $1.18 for ATM withdrawals on my checking account and no transaction fees.

If you are taking the RER into Paris, you can pay for your ticket with a credit card and then get cash at any ATM in Paris. There is an ATM near the Foreign Exchange counter in Terminal 2 and one by the post office in the airport. The general advice is good: don't use a credit card to withdraw money, get an ATM card.

If you want some insurance you could get a few euro at your departure airport before you fly to Paris. I don't usually take any currency w/ me and just use an airport ATM machine upon arrival, but some folks are too nervous to do that and feel better having a few euro in their pocket.

But - definitely follow jody's advice. It is not a good idea to use a visa to get cash. Your ATM/debit card it the way to go . . . . .

Thank you everyone for your reply. Yes, I will be using a check card, a VISA card tied to my checking account. From reading the threads, there are ATM machines scattered throughout the airport. As to which terminal i'm flying into, i'm not sure. It'll be an international arrival from another European city.

Hi xb,

If you will be coming from another European city, why not get your Euros before going to Paris?

If you will have only a short layover, I suggest that you change about $100 at your departure airport.

Your airline can tell you your arrival terminal at CDG.

Here is a map of the airport, showing all services

http://adp.fr/webadp/a_cont01_an.nsf/$$Affich@ReadForm&cle=X500520524.html

The best strategy for changing money is to take some cash and walk up to one of the many exchange booths that you'll find in any European airport. You'll get a better rate than you'll get at home (although not as good as you'll generally find in the city) and it only takes a few seconds.

Also, on the subject of ATMs you might want to read WARNING! ATM Theft in Rome posted by bev_d. It certainly gives one pause to think before relying on them.

I'm sorry and with the very greatest of respect I disagree that you'll necessarily get a "beter rate" at a money changing kiosk in Europe than you will "at home" wherever "home" happens to be for you. The best rate you'll ever get will be through an ATM and that fact is well-known. Those kiosks, either privately run (AMEX, Travelex, Cook's) or by banks will get you in one of two ways...they'll either give you a supposedly "better" exchange rate and then soak you with their "commission" or will charge little, if any, commission, and bean you with a bad exchange rate. To use these facilities you need to ask about BOTH of these.
I agree with getting as little "foreign" money as you can BEFORE you arrive and then using your ATM card thereafter.

As an added note...

I am under the impression(from reading the fine print) that a cash advance on your VISA card is actually considered a loan. In addition to a cash advance fee, interest on the "loan" would start immediately.

This loan interest can not be avoided by paying off your bill monthly. It would start as soon as you got your loan. That makes for a very expensive option. I would use cash advances like that only as a last resort.

First, yes, interest does start to run once you get foreign currency on your credit card.

Second: This is the issue I worry about more than anything else. I am so concerned that my card won't work in a French ATM. Are the directions only in French? If so, are the buttons in the same places as in US ATMs? I'd be thrilled if someone could say that they used a Bank of America card at ATMs in Paris and that it was a breeze.

When I was in Paris in 2002, every ATM I used allowed me to choose English as the language for reading the instructions. Look on the back of your card. Any card on either the Cirrus or Plus networks--and probably some other networks too--will work. For a very helpful article on changing money in Europe, go here: www.ricksteves.com/plan/tips/moneytip.htm.

missypie: don't worry about language problems at ATMs in Europe. Once you insert your card, the first screen will give you several options, usually identified by national flags, so select the Union Jack for English directions. If you have used the ATMs of several different banks in the US, you'll probably find the European ATMs differ no more from your bank's than do other ATMs in the US. Bon voyage.

Misypie..I've never had any trouble using my BofA card in France, or anywhere else for that matter. In France try to use the machines at BNP banks, to avoid BofA charging a transaction fee of I think it's $3.00. Some accounts are not charged the fee but some are.There are BNPs everywhere.

An additional note - for some reason I have occaisionally had difficulty with an ATM withdrawal - one time it was immediatley after landing so of course I got very nervous but I went down the corridor to another ATM, used the same card, and no problem.

JonJon, If "home" is the US, you very well may get a better rate at bureaux de change in Europe than exchanging at home. US banks etc charge an awful lot to give you foreign currency, much more than in Europe, at least in all the ones I've had contact with. Maybe you live in a different place. What you say is wellknown etc is not invariable, either. Some exchanges give a bad rate but some do not. I am exchanged TCs at many exchange bureaux in Europe that gave good rates, much better than my home bank would give. I know this for a fact and I do know the difference in all the various rates/fees/commissions, etc.

I read that BofA just bought out Fleet bank or vice versa and that is the one that charges the ridiculous $5 for an ATm withdrawal. I wonder what they'll charge now ($3 is already too much, my bank only charges $2 and that's a fairly recent raise for the old $1.50).

I think those VISA checkcard things may be different than credit cards, but don't know as I don't have one and don't want one. I only use ATM cards and regular credit cards.

JonJon

Home is the United States and no matter where you try to change money here, you will ALWAYS get a better rate doing it at the country you're visiting, even at the airport, even with a high commission and even with a rotten exchange rate.

As it happens, you can get a pretty decent deal at most airports as long as you don't change large amounts.

As far as the ATMs, every bank has its own rules and charges. Personally, I will stick with taking cash and changing most of it in the city where I know I can find a good rate.

In Paris, there are numerous souvenier stores along the rue de Rivoli near the Louvre that offer exchange rates that I defy anybody to beat ATM or not.

Buy 100 Euros at home from your regular bank, and then do the rest of your conversions in the city at an ATM, not at the Airport. Any US bank will do this for you if you give them a time. Be sure to insist that they get you small bills, by the way.

Reasoning: The most you'll lose is by changing for 100 Euros at home is maybe $5 over the usual ATM rate in Europe, and you'll save the fee for using a foreign ATM. You'll have everything done in advance at home at your own pace, instead of wandering around disoriented and jetlagger looking around a strange airport for some money. True, you'll have to order your euros in advance, but the way the dollar's been sinking, you might just end up a buck ot two ahead!

(I gotta proofread my posts) "give them a little time"

Just got back from Paris. Bank of America credit cards and debit cards work just fine in the ATMs there. You will be given a choice of language in the menu so choose whatever is comfortable for you.

Do be sure you know your PIN as a number. I use a word for mine so had to learn it as a number before we left. (If you forget, find a telephone and you can get the numbers/letters from that.) I don't know why they don't have letters on their ATMs but it's no big deal.

Enjoy your trip. I miss it already and have only been home a day and a half. 8^)