Money and Exchange Rates - France
Jun 20th, 2005, 11:13 AM
#1
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Money and Exchange Rates - France
Hi all
According to my currency converter this morning the Euro is at $1.21 to the dollar. We leave for 3 weeks in France (among other places) in a couple of weeks. Does anyone advise any particularly good way to exchange $ for Euro? I am using an ATM card from my bank for which they charge me $1.50/transaction. M/C, Amex and Visa all add at least 3% to transaction for cash, and 1% for credit usage. Haven't been to Europe in over a year, and I understand (from previous posts) that due to fraud, the system has been shut down intermittantly recently. What am I likely to run into insofar as getting money and using a credit card are concerned? Thanks again for your advice.
shrink
ps: Part of the trip will be in Switzerland (CHF). Any hints on how to handle that with dollars or Euro?
According to my currency converter this morning the Euro is at $1.21 to the dollar. We leave for 3 weeks in France (among other places) in a couple of weeks. Does anyone advise any particularly good way to exchange $ for Euro? I am using an ATM card from my bank for which they charge me $1.50/transaction. M/C, Amex and Visa all add at least 3% to transaction for cash, and 1% for credit usage. Haven't been to Europe in over a year, and I understand (from previous posts) that due to fraud, the system has been shut down intermittantly recently. What am I likely to run into insofar as getting money and using a credit card are concerned? Thanks again for your advice.
shrink
ps: Part of the trip will be in Switzerland (CHF). Any hints on how to handle that with dollars or Euro?
Jun 20th, 2005, 11:18 AM
#3
For Switzerland, simply wait until you arrive and use the ATM to get CHF (Swiss Franc).
Converting USD to euro to CHF obviously wastes on each exchange.
My theory is having multiple methods. US cash, euro bought ahead of time at your home bank, ATM card, credit cards. That way no matter what situation you "run into" you are covered.
Converting USD to euro to CHF obviously wastes on each exchange.
My theory is having multiple methods. US cash, euro bought ahead of time at your home bank, ATM card, credit cards. That way no matter what situation you "run into" you are covered.
Jun 20th, 2005, 11:22 AM
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Why aren't you satisfied with the methods you have, they seem pretty good to me -- an ATM card with a $1.50 transaction fee, and some credit cards that add only 1 pct for charges. You can't get money without some markup over the interbank rate, since you are just an individual, you aren't going to get it absolutely free.
Jun 20th, 2005, 11:27 AM
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You're saying your credit cards will pass 3% for cash advances(as a 'cash advance fee') - most will also charge 2-3% for any advances or purchases made outside the US.('foreign currency conversion fee') + the 1% from Visa International.
Only one (or was it 2?) people have posted that they could not use their cards within the past couple of weeks. You should expect to be able to use your cards at the ATMs and for purchases.
If you want some seed money, exchange a bit at the airport while you're waiting to depart.
At ATMs, get more rather than less to mitigate those pesky per-transaction fees.
Be on the ALERT for the "Dynamic Currency Conversion" where the merchant 'helps' you by charging your card in Dollars (at several points over the exchg rate).
Only one (or was it 2?) people have posted that they could not use their cards within the past couple of weeks. You should expect to be able to use your cards at the ATMs and for purchases.
If you want some seed money, exchange a bit at the airport while you're waiting to depart.
At ATMs, get more rather than less to mitigate those pesky per-transaction fees.
Be on the ALERT for the "Dynamic Currency Conversion" where the merchant 'helps' you by charging your card in Dollars (at several points over the exchg rate).
