janisj,

I know a great many posters on Fodor's who are long timers..not first timers...some old-timers, too!

I never suggested to anyone to handle their money as I do..in fact, just the opposite if you read what was said..."For me, I do not use ATM's as IS the most common way that others do, but not my preferred way"...that is what I said that ATM's were the most common way, but not my preferred way. That is most certainly not saying to do it my way!!

I do know a great many people who pretty well do things as I do..people who enjoy staying, dining etc. in the same kind of places....we all find one another. I seem to have found a great many people who have become great travel friends because of our shared interests.

I also have a large number who ask me for advice and information on lodging, restaurants etc. I had a nice email from someone re the insurance posting that I made and asking for more info. I'm helping several others in their planning, too. I helped some locals with their 2 children and in-laws with what turned out to be a super trip during school break this year. I supply information, but force them to make their own decisions on most things. I want it to be their trip, not mine!

I read a lot of things given to first timers from those who are practically first timers themselves and I'm sure it is not very good advice.

Yes, I do what works best for me and feel it is the only way it should be for everyone. I seem to share a great deal in common with a large number of travel friends along with a growing list of French friends. I am very grateful for the friendships that we share.

Enjoy your trip planning...

Joan

In the scheme of things, the cost differential between obtaining foreign currency at home vs an ATM overseas is a few glasses of wine. Let it go people!

So I learned something today. If I use an ATM on my trip to France I will only be charged the interbank rate + 1-3%. If I purchase euros from my bank before I leave I will be charged much more than the interbank rate. Am I getting this right? So when I get to my rented Nice apt. and have to pay a large amount immediately to get the keys I should get the money from an ATM? I know that there is a limit on how much I can take out but there are 3 of us and we can each do it. Where do I check the interbank rates? I had to send a bank wire transfer today and had to pay 1.675. + $30.00 - ouch!

www.xe.com

The limits are set both by your bank and the French bank and of course it's the lower one you have to worry about...it may be as little as $300 (not €300)

This thread, wow!

One of the cheapest ways to send money overseas is via bank draft. Essentially it is a "certified" cheque in that the bank guarantees the amount (taken out of your account), is denominated in the receiver's local currency, and does not cost anything to deposit (although I have been told that French banks charge for any cheque deposit?). And, if anything ever happens (lost) you can recover your money.
Exchange rates as per my above post, and the cost of the draft is $6 for me.

Thanks for all your input.

GraceJoan - I was not being critical at all, only pointing out that it's foolish (makes no sense) to pay a 7-10% markup for foreign currency when there are ATM's everywhere. There was an ATM right under the windows of our ParisPerfect apartment.

Rather than "get rid of" all that "extra currency" your last week, it would be more prudent to hold onto it for your next trip - don't you think?

djkbooks...

Yes, since the Euro is used in so many countries, that's what we do...save some for the next trip.

SS

djkbooks:

Joan stated that she always comes home with at least 100 euro.

This whole thing is so ridiculous. If the little bit that I spend on my euros in advance will affect my trip budget, I just better not plan a trip! You may spend money on things that I would consider foolish for me to be spending on..so what, who cares! I certainly don't.

If someone asks what is the best way to do something..there is no best that could be for everyone. If they ask for cheapest..that might be able to be given...if they ask what options..that opens the door for a great deal.

You could run this into the ground...I get a 15 euro discount each way on my to/from airport transportation! Some would say cheaper to take some metro/bus or something. I stay in nice apts...some would say a hostel is cheaper. Look at the difference in deciding to have lunch at Les Cocottes or l'Obe in the Crillon..ah, but because I am a good customer I receive free Taittainger champagne (menu price 24euros), free sides and I am asked if I would like a 2nd dessert!. Do I add these as a plus to all my savings? Or should I eat at McDonalds? Laughing, yet? This could go on and on!

If someone wants to take a trip to see how little they can spend..that is their choice. It would not be for me. I know roughly what a trip is going to cost me. Obviously I know the air and lodging in advance..the rest will be entirely the way it plays out. Just a choice of dining in a day can make a big difference...simple or starred!

I think as weekender suggested..it might be time to drop all this. We should all do things as we like to do them, be happy with the way you travel. Try to help others by passing on all sorts of information for them to decide what is best for them.

Enjoy your trip planning...

Joan

For those concerned about the ATMs in your arrival airport not working for some reason: If the ATMs should all be out of order or out of money or whatever (we've never had that happen to us, but I guess it is possible), just carry a couple of hundred dollars along with you and exchange it at the bank or exchange booth in your arrival airport. In our experience, the rate will not be as good as the foreign airport ATM would give, but it will be better than what you can get at home.

All good things to keep in mind. Thanks!

gracejoan3 would I be able to email you privately? Or is this not something that is done on this forum.
Denise

Sure decee..use my travel mail address:

[email protected]

Joan

Clark Howard was giving his best travel tips this morning. One was on exchanging money. He said NEVER EVER get money in the US as the rates everywhere in the US were terrible. He said get your money at the ATM's after you arrive.

Good to know. I'm just hoping the ATM's don't eat our card or anything like that.

If you take ATM cards for accounts at two different banks plus two widely accepted credit cards, keeping the spares someplace separate from the primaries, you'd be covered for just about any eventuality.

Of course it is possible for the ATMs to not work or be unavailable, I've had that happen at least twice on my travels to major international airports. I always carry several hundred dollars in cash on me, anyway (my own currency), and I take some USD travelers checks as emergency backup as I get them free from my bank (don't someone try to get into about how they aren't free, they are absolutely free if you get them in USD, not euro). If I don't use them, I just spend them at the grocery store or put them in the bank at home when I return, so they cost me nothing.

And you can exchange cash or TCs at airport exchange bureaus, they all do that, so that is my backup now. I do always have extra euro on me from former trips, but when I got to other countries with other currencies, I don't worry about getting their cash ahead like I used to. Airport exchange bureaus usually do have a hefty markup, but sometimes it isn't that bad, fine in an emergency (at CDG, it is only around 10 pct, as I recall, which isn't bad for an airport). Prague airport is another one with rather reasonable exchange bureau fees (less than at CDG).

ok, thanks!