RufusTFirefly

Christina, if you are referring to my posting, I did not say "many banks do not charge a foreign conversion fee on their ATM card now." I said they do not charge an additional fee--on top of what the Visa/MC network charges. They pass on that fee, but have no additional fee of there own. Shop around.

Belledame

BofA charges no fee on BNP Paribas ATM withdrawals specifically because both are in the Global Alliance Network.

I'm not sure how serious the OP's concern is. We're talking a range of 7 cents on the dollar.

But last year (5/07) I withdrew 500 Euro from a BNP in Paris and my bank statement showed a simple withdrawal of $600US. No fees etc. indicated.

GSteed

There is no such thing as a good rate. The rate will depend on the day's market price. Right now the Euro is increasing in value hence you will get less Euros today for your Dollars than a week ago. Check the financial pages. Find an off-shore ATM that is aligned with your bank. Inquire at your bank. Independent ATMs charge a fee for their services that is usually more than a bank affiliated one charges. Travel costs should lessen as fuel prices are down.

Patty

List of forex fees for various credit and ATM cards http://flyerguide.com/wiki/index.php...reign_Exchange

webazoid

I ended up exchanging some dollars for euros at a rate of $1.38 dollars for 1 euro (official rate had been around 1.33-1.34) here in the states last week. Today it's 1.35. Maybe my gamble will pay off if US currency continues to drop.

travelme

I was so busy last week but I intented to change dollars too. Wish I had. Many on this site will say not to and to just change once you are in Europe. I usually just go for a week or 10 days at a time. Having my spending money alloted for gives me peace of mind. As many here on this forum, I obsess to much about the exchange rate.

Christina

yes, I was referring to your comment, Rufus, as I think you live in the Wash DC metro area, as do I, so I really wanted to know all the banks. You didn't say in addition to a 3% Visa fee, you just said a lot of banks don't charge an additional fee, and I interpreted that to mean the exchange would be at interbank rate, or close to it. So glad to clarify that.

I agree banks don't usually charge over 3% on the ATM conversion, that's what mine charges, but I think a lot of them do that. I do not believe that is necessarily a Visa fee, either, as I do not have a debit card nor a card with a Visa or Mastercard logo on it, it uses a different network. They just started adding on a 3% foreign conversion fee to all ATM/debit cards a couple years ago, I suppose they had some consultant tell them others were doing it and it was a good way to raise revenue, who knows. The good news is my bank was just bought out by Capital One, so maybe all our cards with change to be a Capital One card and then I'll have no foreign transaction fee, as I don't want to change banks given the convenience and branches of mine.

I wouldn't ever bank at B of A even if they are free at BNParibas, I really dislike that company.

Nikki

My understanding is that the VISA/Mastercard network charge is one percent. The additional two percent that many banks charge is their own markup. Some banks charge just the one percent, and some don't charge even that.

The Charles Schwab Bank VISA check card does not charge the VISA fee or any currency conversion fee and rebates the ATM fees imposed by banks in whose machines you use the card.

webazoid

for an update,

i withdrew 20 euros from a bnp paribis branch in paris on 12/27 and got chargd $28.14 as a pending transaction on my bofa online account. this gives a rate nearly equal to the official rate of 1 € = $1.40520 on 12/27.