Purchasing Euros
 

Hello,

Does anyone know if you get a better rate purchasing euros in the U.S. or in France.

Thanks

wodat,

Purchase your euros in France using their Cash Machines (ATM'S). They have many Cash Machines at the airport when you arrive.

Curious

I find the rates using you bank card very competitive and the fees minimal. Check with your bank to see what the transaction fee would be. Don't go to a bank in France as you will pay hefty fees.

Hi whodat,

I buy about $100 worth of Euros at the airport before leaving. Poor exchange rate, but I have cash when I arrive.

From then on, I use my debit card to get Euros from ATMs. That is the way to get the lowest exchange rate.

Have any of you found it difficult to find banks in Paris who's ATM network does not work with America's, i.e., Plus or Cirrus network.

My fear is that I will get there and have ATM problems.

I didn't have any problem using my ATM card in Paris this past May.

You are always better off purchasing the currency in the country where you will use it...that is buy your Euros in Europe, change them back to dollars in the US. That said, like you, I'm always a little paranoid about potential ATM problems, so I like to show up with 100-200 Euro in my pocket. I always purchase some before I leave.

We use either Bank of America or CitiBank ATM cards - both work. If you are unsure, just ask your bank before leaving.

Curious thing: in the UK, when we use our Bank of America ATM at a Barclays machine, we do not get charged transaction fees. This is very odd, but now that we have cottoned on to it, we always use the Barclays machine.

Anyone have ideas about why this is happening?

PCircles, BOA has what they call the "Global ATM Alliance". The last information I got showed the following ATMs that can be used with no fee.
UK, Barclays
France, BNP Paribas
Germany, Deutsche Bank
Canada, Scotiabank
Australia & New Zealand, Westpac Bank

Any fee you incur when using an ATM in Europe is the one imposed by your own bank. There's no fee charged by the European bank; I have never paid a transaction fee for ATM withdrawals in Ireland, France, Italy, Spain, or the Netherlands. (I do pay my bank's out-of-network fee, plus the local bank's fee, for withdrawals at ATMs away from home in the U.S.)

Your bank may waive its fee for transactions you make at ATMs of European banks with which it has some specific arrangement. Find out before you leave if there is a fee or if you can avoid the fee by using certain ATMs.

Cheaper to wait until you arrive. Use an ATM machine or have US cash to change at the airport upon arrival.

Unless you really need the "peace of mind", there is no benefit to purchasing foreign currency in the US.

Thanks for solving that mystery, Bob_C. Where did you find the list - I looked at BOA's site, but with no success.

Thanks for the help!

PCircles, it is hard to find, but it is in the newsroom archive. Check following
http://www.bankofamerica.com/newsroo...0010531.01.htm

I always buy a couple hundred Euro in the US from specific Bank Of Americas that carry Euro on hand. I have had too many problems with ATM's in Europe to bother with them for the first day or two (I have had my card eaten by the machine, etc.) I usually arrive on a Sunday and the bank's aren't open to solve any problem like that. It doesn't happen often, but I want to relax before I jump into money transactions.
And the rate isn't that much to worry about when I am spending so much on the trip anyway, I just factor it in under convenience.