$$ Help, please! Family of 3 on a budget in Paris
Dec 22nd, 2007, 07:48 PM
#1
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$$ Help, please! Family of 3 on a budget in Paris
Hey guys -
My husband, my 3 yo daughter and I will be going to Paris in January for 7 days. We have put aside $1500 for us to spend there. I need to know the best way for us to have access to this cash - I have two debit cards, one for my regular (small, local) bank, and one for my ING Electric Orange account. I have heard that PNC banks offer the best rates when using ATMs in Europe. Is there any point in opening an account there just for this trip? I know I am over-thinking this, but we really worked hard to save for this trip and I would love to get the most "bang for the buck", if you will.
Any other $-saving tips are appreciated!
L.
My husband, my 3 yo daughter and I will be going to Paris in January for 7 days. We have put aside $1500 for us to spend there. I need to know the best way for us to have access to this cash - I have two debit cards, one for my regular (small, local) bank, and one for my ING Electric Orange account. I have heard that PNC banks offer the best rates when using ATMs in Europe. Is there any point in opening an account there just for this trip? I know I am over-thinking this, but we really worked hard to save for this trip and I would love to get the most "bang for the buck", if you will.
Any other $-saving tips are appreciated!
L.
Dec 22nd, 2007, 07:54 PM
#2
Yes, you are definitely over-thinking this. ATM's in Europe don't offer better or worse rates. You ask for € and get €. There is no "exchange" going on.
The exchange rate comes into play when the € ATM withdrawal is deducted from your checking account by your own bank. So leave your money in a checking account at home and use your ATM card to get € cash as you need it.
The exchange rate comes into play when the € ATM withdrawal is deducted from your checking account by your own bank. So leave your money in a checking account at home and use your ATM card to get € cash as you need it.
Dec 23rd, 2007, 06:33 AM
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Thanks for the replies - the $1500 is our spending money. We have already paid for the apartment where we will stay (on rue St Honore near the Louvre). We have not yet reserved the transport from CDG to the apt and back.
We do plan on eating in a lot, and my sister (whom we are visiting, the point of this trip) has been in Paris since August for her junior year abroad. I imagine she has found plenty of delicious & cheap spots for us to try!
L.
We do plan on eating in a lot, and my sister (whom we are visiting, the point of this trip) has been in Paris since August for her junior year abroad. I imagine she has found plenty of delicious & cheap spots for us to try!
L.
Dec 23rd, 2007, 09:37 AM
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As far as the ATM cards are concerned all you need to do is make sure that your bank is a member of some of the major international networks. Almost all banks - even small banks are - but credit unions often are not. The bank's web site should have ll this info.
as or the rate of exchange, this is not determined by the bank - the Interbank rate for the same time is the same for all. What can change is the % fee charged by your bank (usually 1/2%) and if they charge for using an out of network ATM.
as or the rate of exchange, this is not determined by the bank - the Interbank rate for the same time is the same for all. What can change is the % fee charged by your bank (usually 1/2%) and if they charge for using an out of network ATM.
Dec 23rd, 2007, 09:48 AM
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Janis is partially correct. I don't know about that bank but for instance, Bank of America has no charges when you access a particular bank in Paris--I can't remember which it is.
There are no charges from the French bank but there may be from your bank.
There are no charges from the French bank but there may be from your bank.
Dec 23rd, 2007, 10:10 AM
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L4C:
Bank America does not charge a fee if you use Paribas (Banque Nationale de Paris) ...their ATM's are all over town..very large international institution. They belong to the same organization as Bank of America (Global ATM Alliance)and because of this association do not charge fees for Bank of America withdrawals. We have a B of A account, and tested this out in Paris a year ago...it works.
Bottom Line: Just go and have fun...a few hundred more or less over the $1500 will not affect your lives after you get home, with great memories and pix of you visit!!
My late wife had a great attitude on this note.. she'd smile, shrug and say.."It's only money!"..and believe me there were times when we were your age witth three little ones when we lived on a stringent budget.
Stu T.
Stu T.
Bank America does not charge a fee if you use Paribas (Banque Nationale de Paris) ...their ATM's are all over town..very large international institution. They belong to the same organization as Bank of America (Global ATM Alliance)and because of this association do not charge fees for Bank of America withdrawals. We have a B of A account, and tested this out in Paris a year ago...it works.
Bottom Line: Just go and have fun...a few hundred more or less over the $1500 will not affect your lives after you get home, with great memories and pix of you visit!!
My late wife had a great attitude on this note.. she'd smile, shrug and say.."It's only money!"..and believe me there were times when we were your age witth three little ones when we lived on a stringent budget.
Stu T.
Stu T.
Dec 23rd, 2007, 12:37 PM
#10
my comment was re the exchange rate one gets using ATMs - not bank fees. The OP obviously doesn't bank w/ BofA ("<i>one for my regular small, local bank, and one for my ING Electric Orange account</i>"
so the partnership w/ Paribas really isn't relevant .
L4C: The place you should ask is your own bank to see what they charge to use an out-of-system ATM -- though Stateside bank staff often have no idea. Most banks charge between $1 and $3 and there really is no reason to be changing banks for just $1500 in spending money.
so the partnership w/ Paribas really isn't relevant .L4C: The place you should ask is your own bank to see what they charge to use an out-of-system ATM -- though Stateside bank staff often have no idea. Most banks charge between $1 and $3 and there really is no reason to be changing banks for just $1500 in spending money.
Dec 23rd, 2007, 04:01 PM
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This is from the ING website:
Foreign Currency Conversion. We may charge you a fee of up to 2.00% of each cash advance or purchase that you make in a foreign currency after it is converted to U.S. Dollars. This fee is in addition to the fee that MasterCard® may charge as part of converting the purchase to U.S. Dollars.
That's a lot, yes?
L.
Foreign Currency Conversion. We may charge you a fee of up to 2.00% of each cash advance or purchase that you make in a foreign currency after it is converted to U.S. Dollars. This fee is in addition to the fee that MasterCard® may charge as part of converting the purchase to U.S. Dollars.
That's a lot, yes?
L.
Dec 23rd, 2007, 06:10 PM
#16
L4C: "<i>Foreign Currency Conversion. We may charge you a fee of up to 2.00% of each cash advance or purchase that you make in a foreign currency after it is converted to U.S. Dollars.</i>"
That is for cash advances on your credit card -- not cash withdrawals w/ your ATM card. It is never a good idea to take cash advances unless it is an emergency. Use your <b><u>ATM card</u></b> to get cash.
That is for cash advances on your credit card -- not cash withdrawals w/ your ATM card. It is never a good idea to take cash advances unless it is an emergency. Use your <b><u>ATM card</u></b> to get cash.
Dec 23rd, 2007, 06:40 PM
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Re getting from CDG to your hotel, we always use Paris shuttle
www.parishuttle.com
At the moment it's quoting Euro 19 (USD 27) per person. They take you direct to your hotel. It does save worry about the RER and bus services given the number of strikes in Paris recently. If you book return with them, suggest you get hotel pickup earlier than they suggest ... timing can be a bit tight especially if you like to arrive at airport with time to spare.
www.parishuttle.com
At the moment it's quoting Euro 19 (USD 27) per person. They take you direct to your hotel. It does save worry about the RER and bus services given the number of strikes in Paris recently. If you book return with them, suggest you get hotel pickup earlier than they suggest ... timing can be a bit tight especially if you like to arrive at airport with time to spare.
Dec 23rd, 2007, 06:58 PM
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Hi
I don't know if this helps but I would use a Visa card rather than Mastercard - Visa is more readily accepted so I've been informed. I also use an ATM card with the Cirrus/Maestro symbol at an ATM displaying these symbols. I've never had any problems with this set up. And I agree with the others re €150 a day budget. That should be plenty, particularly if you have an apartment with a kitchen. TIP: Don't forget to inform your bank that you will be using your cards overseas - let them know the period you will be away for.
I don't know if this helps but I would use a Visa card rather than Mastercard - Visa is more readily accepted so I've been informed. I also use an ATM card with the Cirrus/Maestro symbol at an ATM displaying these symbols. I've never had any problems with this set up. And I agree with the others re €150 a day budget. That should be plenty, particularly if you have an apartment with a kitchen. TIP: Don't forget to inform your bank that you will be using your cards overseas - let them know the period you will be away for.
Dec 23rd, 2007, 07:12 PM
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Considering your short stay and the fact that you have already paid for your beds I would just bring 15 fresh $100 bills and convert them to euros at a bank when you get to the city, not at the airport. The 2% difference is $30, less than lunch. About $200 a day for food and admissions for two and a half people is OK.
