Travelers Checks in Paris
May 18th, 2000, 03:45 PM
#1
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Travelers Checks in Paris
First time in Paris! How welcome are travelers checks in Paris? <BR>what currency should I use -- US dollar, francs, euro? Do banks charge a fee to cash them? Is it easier to just use ATM's? What do you do if ATM's aren't available (as with the strike going on now)? Any money advice greatly appreciated! I will be in Paris 7 days. Thanks. Sue
May 18th, 2000, 04:00 PM
#2
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$U.S. TCs aren't much use, no place to cash them for ff - if a merchant accepts them, he'll give you a lousy exchange rate. Get the TCs in ff (Thomas Cook issues them, for one) and in as small denominations as possible for at least half. <BR>The ATMs are apparently empty, so don't count on them. <BR>Try to 'charge' as much as possible; if your ATM card is a Visa/Mastercard, you can still use it as a 'charge card' with a merchant (tapping into your cash instead of going into debt). <BR>Get about $300 in ff before you leave (American Express or your bank) - again, as small bills as possible. If you work outside the home, try posting on a bulletin board "will buy francs" (lots of people bring home coins, or 20ff notes, whatever and would be glad to 'sell' them to you). <BR>
May 18th, 2000, 04:33 PM
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ATMs and charge/cash card are the best. We do carry some TCs for emergencies, though. <BR> <BR>We use TCs denominated in US dollars. Why? <BR>1) Many merchants, especially in smaller shops and smaller cities, won't touch TCs whether in dollars or local currency anyway. <BR>2) You'll take an exchange loss buying them in a foreign currency (often as much as 10%), and you'll take another exchange loss if you have some left over when you come home. With dollar-denominated you can save them for your next trip, or spend them in the grocery store. <BR> <BR>Our suggestions for handling money and exchange on your trip to Europe at www.twenj.com/moneyand.htm <BR> <BR>Ed
May 18th, 2000, 05:28 PM
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Well, we were surely relieved to have plenty of American Express travelers checks in French Francs when our ATM cards didn't work on a trip in 1996 (which to this day our bank has never been able to explain). French Francs are definitely better. Call the hotel where you're staying. You may be able to cash them right at the front desk for the face value with no fees or other charges. More conveniently, actually, than seeking at ATM with your "logo". Otherwise, go to the nearest post office or the American Express Office. We were able to pay for things with them all over Paris (thankfully). Also, inquire at the hotel where you're staying as to whether or not they accept them as payment. That way, you can use any "leftovers" toward your hotel bill, thereby precluding the need to "change them back". Note that I get ours from AAA for about 99% of the published rates with no fees or charges. If your bank charges a couple of dollars every time you make an ATM withdrawal (call and ask) the tc's may be more economical. If you do take tc's, be sure to keep a few copies of the numbers scattered throughout your belongings (I keep one copy stapled to my map and another in my tour guide). Traveler's checks are easier to replace quickly than ATM or credit cards. And, no one can do "damage" to your accounts in the meantime.
May 18th, 2000, 06:00 PM
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The current situation in France with the armored car drivers on strike is fouling up normal banking transactions because money in currency form is not being widely transported. Under normal circumstances, the easiest way and cheapest way to get currency is from an ATM. My strategy last year was to charge what I could and pay for the rest with ATM money. <BR> <BR>Because of the strike that is ongoing, financial affairs are not normal, so I am not sure what to suggest. If I were leaving Monday, I would have to hope that a big bank in Atlanta had francs on hand so I could buy a supply tomorrow. <BR> <BR>My plan would be to charge everything I could, and pay for the rest in cash. <BR>The problem is predicting how much I would need. <BR>If I could not find French currency at the banks, I would try for travelers checks in small amounts denominated in French francs. Even so, I hear that making change at some places is done grudgingly because of the currency shortage. <BR>Payment with currency in Euro form is not possible this year. Although the Euro is a common measure of value, it is not yet a medium of exchange because Euro bills do not circulate until later. <BR> <BR>
May 19th, 2000, 05:44 AM
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We used travelers checks in francs for most of a stay in Paris. I don't think we ever had to cash any. Restaurants and shops accepted them as cash; then we used the currency we got as change until we ran out and had to use more checks. We did use the checks mostly for larger purchases such as dinner or higher priced souvenirs. It probably is a good idea to have smaller denominations, and there probably are places that won't take them. As far as the exchange rate goes, unless you know someone in France, it is going to be hard to know exactly what the going rate is when you are going. We got American Express checks from AAA in French and Swiss currency. Before deciding to purchase them, I looked at the newspaper for the current bank exchange rate, and by experience I decided the rate at AAA seemed pretty decent in relation to the going rate. Remember the rate in the paper is for banks trading in huge quantities. Travelers will usually get less, but I have found that this is not always the case - in Mexico, we got a higher rate.
May 19th, 2000, 10:46 AM
#8
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In Paris last summer, with our travelers checks in FF in hand, we were displeased to find they were accepted nowhere. Not even in stores with signs in the window which said they did accept them. Not even from our French friend who tried to convince the merchant in perfect French. So everday, we went to the American Express office by the Opera (which was right near our hotel) and exchanged (for no cost, of course) them for actual currency. We will stick with the ATM/credit card combo this year.
May 19th, 2000, 12:24 PM
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Per a French news website, the problem is grave (heh heh, or greve) and the metro is taking - get this - personal checks and credit cards for as little as 5ff (a buck, by my reckoning). <BR> <BR>Paula's experience and previous advice on other posts were under usual circumstances. The situation in France is NOT usual at this time; at least TCs in ff can be used as 'cash' with no exchange rate (as pointed out, don't try to use a big denomination for a small purchase).
May 19th, 2000, 03:24 PM
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I cannot understand folks who report that traveler's checks in French Francs were not accepted anywhere in Paris. We, too, get ours at AAA with no fees for about 99% of the published rates. Last time we were in Paris, only one tiny shop did not accept them (we cashed some at a post office a few doors down).
May 22nd, 2000, 09:00 AM
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Elvira, could you please share the web address of the french news site. I have been trying to find a source for news to keep up with the atm situation, and have been unsucessful. Anyone else have any news about the atm situation? A posting stated it might be resolved today. Am leaving for paris on Sun.
May 22nd, 2000, 12:59 PM
#15
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We just returned from Europe two weeks ago and we found that in Paris as well as the other five countries we visited our Visa and Visa check card served us very well almost every place we went.I would recomend taking about $300.us in case and exchange as needed.
May 22nd, 2000, 01:32 PM
#16
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I have been watching the strike on www.yahoo.fr. You have to understand a little French. <BR>
May 22nd, 2000, 01:44 PM
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If you don't read French, you can always look at the pictures: <BR>http://infos.tf1.fr/info/home/home.cfm <BR> <BR>I tried to find an English-language discussion of the strike on the web, but to no avail.
May 22nd, 2000, 04:05 PM
#19
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Merci, Elvira. Also, last time I was in Framce, I had a difficult time getting money from an atm using my savings acct, it seemed there was no problem with accessing the checking acct, but not a choice for the savings acct withdrawal. Has the situation changed. Has anyone withdrawn from the atm using the savings acct. Thanks
