guyanantigua

What's the best way to deal with money in Spain and France if you're visiting from the US? Bring dollars and exchange there, or just take money out from ATM, or send money to yourself with XOOM, or some other way? Just trying to find the best method for getting a good exchange rate and avoiding fees.

Thanks!

Edward2005

ATMs usually give you the best exchange rate and are just as convenient there as in the US. There will be a fee, of course, but you can minimize those by taking fewer but larger withdrawals. I have not used XOOM.

Kathie

The best way is to get money from ATMs. But do your research first and find out what your bank will charge you to take money from an ATM. Many of the big banks charge $5 per transaction plus 3% foreign exchange. Still you are better off with an ATM than bringing dollars to exchange (the exchange bureaus always charge and they won't give you as good a rate as the ATMs). I use my credit cards as much as possible (i have a couple with no foreign exchange premium).

Robert2533

Finding somewhere to exchange cash in France or Spain will be difficult, and expensive. You just can't walk into a bank unless you're a customer.

Stick with your ATM card and take out what you need for walking around money every few days. Other then that, use your credit card for purchases. Be sure to let you bank know you will be using both the ATM card and credit card, or they will be be blocked.

tom_mn

I think that it is worth setting up an account just for this purpose (European ATM withdrawals) that does not charge the $5 + 3% on every withdrawal. Capital One 360 is one of those banks, but there are others. Call your bank and ask what that terms will be, and don't' hesitate to set up a special account if the terms are bad. Give yourself a couple weeks to get it all set up online and a card in the mail.

kerouac

Using ATMs is the best thing to do. It has become more complicated and more expensive to change cash in Paris since the arrival of the euro, which caused a 90% drop in foreign currency exchange in the euro zone countries.

ssander

Same advice...ATM's & Credit Card...but be sure you have cards that have no foreign transaction fees.

CapOne has one, but so do other banks.

There are ample ATMs at airports and train stations, but, if it is your first trip and you have no Euros left over from a previous trip, you might want to get 50-100€ or so before you leave just to feel comfortable on arrival and get you to your hotel in case you have trouble with your card.

Once you are at your hotel, you should have no trouble finding an ATM that works well in your neighborhood...they are all over the place in French and Spanish cities.

Also...bring multiple cards in case your preferred card doesn't work -- which it might not on some machines.


SS

humphry

All good advise. I also like to exchange some money here at home before I go. Usually I get a few hundred dollars worth of Euros so that I have a few days abroad without the hassle of getting cash right away there.See if you can get a credit card with a chip before you go, but it wasn't absolutely needed this past month in Spain at stores and restaurants. Have fun!

Mimar

As usual, I can't understand why people think it's a big hassle to stop briefly at an ATM as you pass by on your way out of the airport.

Bank ATMs in Europe do not charge any fees. We use our credit union credit cards and ATM cards in Europe, because they have no transaction charge and a minimal exchange rate of 1% over the interbank rate. We have cards from 2 credit unions, my husband carries one, I carry the other. It's a good idea to have more than one card.

MmePerdu

My local bank charges a 3% foreign currency transaction fee for withdrawing cash from ATMs and this thread reminded me that I need to find another way. I use a Capital One credit card when I travel to avoid a fee and called them today to find out about charges using a debit card with their 360 Checking accounts. I was told there is also no fee charged by Capital One, but the card is Mastercard branded and MC charges 1%. I can live with that so will be opening a checking account with them.

EYWandBTV

I bring about 500 euros when I go. This way I can relax and settle into the arrival city for some time without having to hassle about using an ATM. I save a lot of this for emergencies and then put it in the sock drawer when I return home, ready for the next trip. Yes, it costs a few bucks because of a higher US-based exchange rate but it gives me ease of mind. I use Cap One and USAA credit and debit/ATM cards to avoid fees.

pariswat

I am always travelling in Europe (but not much in Spain) and I have never more than 100 e on me.
I pay everything with CC.
hotels, restaurants, supermarket, fuel, even books and newspapers. I give small change when it is a few euros, once it is above 5€ i pay 99% with CC.

Alec

Some retailers have minimum spend on card sale, usually around 10 euro.

vincenzo32951

>>As usual, I can't understand why people think it's a big hassle to stop briefly at an ATM as you pass by on your way out of the airport. <<

On at least two occasions, I arrived at airports where the ATM nearest the arrival area was out of order and there were long lines at other ATMs, probably because of a combination of the nonworking one and lots of arriving international flights. If it's never happened to you, you think, "What's the big deal?" If it happens to you, you realize what the big deal is.

MarthaT

I don't worry about the 3% fee or the 5.00 fee my bank charges. It is so small in relation to what I paid for the rest of the trip. I just chalk it up to trip charges.
I also bring home Euros each time I travel to Europe because I know I will be returning on another trip so I always have some to get me going but I always use an airport ATM and have never had a problem.

GLM

I echo the sentiment about ATMs, this is generally the best exchange rate. Those exchange offices ding you. Depending on your credit card, you can also get exchange fees waived. Some cards have promotions.

Robert2533

For the first time traveler to the EU, I highly recommend picking up at least 100 Euros from your local bank and have some cash with you.

Depending on when you arrive the ATM can be overwhelmed, and if it's on the weekend, empty. The banks only fill the ATMs on Monday morning in most locations and again on Friday.

The arrivals terminals at Madrid-Barajas Adolfo Suárez airport has only three ATMs in T4 and four in T1, belonging to Banco Popular, Bankia & BBVA.

Christina

I think that's not a bad idea. However, I don't recall Madrid airport, but in most large airports, there are still exchange desks (run by Travelex, etc.). Their rates aren't great at the airport, but as a backup, it seems that might be a better plan if ATMs aren't possible than getting it at home, which isn't easy for some people. And the charge at the airport probably won't be any worse than at home.

If I wanted to, I know several places where it is easy to exchange cash in Paris and I've used them for years, it didn't change with the euro. I don't usually, but once in a while I have to get rid of some travelers checks I didn't need. And I don't even mean the ones in the more popular tourist areas like rue de Rivoli or aournd all those banks (near the Opera). I know they still do it as I still saw their signs when I was there last Fall.

Here's one, for example, and they do give good rates, about only a 2-3 pct markup. My ATM card is better, but if I didn't have one that charged zero, this wouldn't be bad at all (if you wanted to carry TCs in USD or just cash with you which I don't):

http://www.bureaux-de-change.com/ann...de-change.html

IN fact, that website seems to give you a listing of all of them in France, by map and location. Probably don't have rates, I know that one is good as it's the one I use. There are others in Chinatown and on rue de Rennes that aren't bad, either. That websites lists about 100 in Paris.

Tibor08

,,I don't worry about the 3% fee or the 5.00 fee my bank charges. It is so small in relation to what I paid for the rest of the trip. I just chalk it up to trip charges.
I also bring home Euros each time I travel to Europe because I know I will be returning on another trip so I always have some to get me going " .....exactly.....Thank You..

guyanantigua

There is a 300 euro withdrawal limit in Spain, which is quite inconvenient. You have to make multiple withdrawals if you want more than 300.