Euro to Dollar
 

I was wondering how has the exchange rate has been since the new euro came out the first of the year?<BR><BR>Michael

The Euro did not come out the first of this year...the Euro has been the official currency of the Euro zone countries since 1999 only Euro banknotes and coins first came out this year....<BR><BR>The currency has been fluctuating a bit between about US$.86 and US$.88 since the first of the year. Currently it is trading just under $.88 US....

Hey, Jeff--can you get a cash advance on a credit card in Paris without a pin number? Asking for friends leaving next Sunday. I know it isn't exchange friendly but we need a way for them to get money. Thanks.

Message: Hey, Jeff--can you get a cash advance on a credit card in Paris without a pin number? Asking for friends leaving next Sunday. I know it isn't exchange friendly but we need a way for them to get money. Thanks.<BR><BR>Yes you can by going inside the bank..but that means adhering to bankings hours. So if the banks are open, the big banks are almost always MC/Visa (in France Carte Bleu) banks you can go in and request a cash advance.<BR><BR>However, I assume you are aware that this is not the smartest way to go. First of all the interest clock begins to run as soon as you get the money..not really a big deal if you intend to repay it as soon as you get home. The big problem are the fees, with some banks charging fees of 3% to 5% with a minimu of as much as $10...<BR><BR>However, and this is for everybody, if you have a debit card i.e. a debit card with a MC/Visa logo on it, then you can use it to request a "cash advance" inside the bank. Note this is not really a cash advance but rather a request to debit your chequing account (or whatever the primary account is on the debit card). Now why is this significant?<BR><BR>1. First of all many banks charge you for ATM withdrawals but not cash taken inside the branch. One example is my Schwab One account which charges me $1 to withdraw from an ATM but nothing to request a cash advance inside the bank.<BR><BR>2. Very significantly, especially on domestic withdrawals, you avoid the ridiculous asinine ATM fee banks put on you for having the audacity to use their ATM's. These fees do not apply on foreign withdrawals. <BR><BR>Example....you have a debit card issued by Schwab One. Use it in an ATm in say New York and you are socked by Schwab for $1 and by the bank whose machine it is for $1.50. Go inside the bank and request a $50 cash advance and it's free. One time, in a bank, a teller refused to give me the cash advance and told me I was supposed to use the ATM. I blew my fuse and made a supervisor come over who sheepishly admitted the bank had no right to do that but the policy of the bank was to entice customers to use the ATM's. The agreement the banks have with Visa/MC prohibit the issuing bank from attaching a fee to a cash advance or as it in reality is on a debit card a request for withdrawal on a debit card.<BR><BR>Just a handy trick of the trade for travellers who don't like to be ripped off.

Using the bank teller also avoids the ATM minimums; you can get more funds.<BR><BR>You can also use a MC or Visa (debit or credit, doesn't matter) at many exchange bureaus (look for the logos). In some cases (happened with my debit card), the transaction is seen as a purchase ("buying" currency from a "vendor"), so no "cash advance" fees. On a credit card, that can mean a savings if you pay the bill before the end of the billing cycle.