sap

Well you can free up some space by purging traveler's checks from your memory bank.

Dayenu

Ha! I forgot money orders

cali88

sorry.. i meant i would exchange my cash here in the USA for euros and bring over euros..

nukesafe

P_M,

I think you are not correct about paying no fees by using a BOA card at a PNB Paribas ATM. BOA waives the $5 transaction fee they charge for using their ATM at a non-partner bank, but still charge a 3% exchange fee, I think.

I use my BOA card in emergencies, but mostly rely on my ATM card from my local bank , which charges no exchange fees.

djkbooks

<<sorry.. i meant i would exchange my cash here in the USA for euros and bring over euros..>>

You'll pay a 7-10% or more markup on the exchange rates.

janisj

<B>nukesafe:</B> Most banks do tack on about 1% to the interbank rate, but not all. Are you possibly mixing credit cards and debit cards. I've not heard that BofA (greedy lot that they are) tacks on 3% for debit card transactions. Credit cards - yes -- but one shouldn't use a cc in an ATM anyway.

<B>cali88:</B> It makes no difference if you exchange your $ for € in the States or in Paris -- it will cost you more. In fact, it probably would even be a few points worse to do it Stateside.

Trust us, using you BofA debit/Atm card is the very best/cheapest way to get cash in Paris.

gracejoan3

djkbooks,

The extra charge for obtaining cash in the US may be fine for some. It is for me, because it is so small due to my only needing about 800 euros for my stays of perhaps 6 weeks. I think I computed it and posted it last trip. If you are drving and need lots of gas etc. than it is a different story. For my trips to Paris, it works out fine. I use my Cap One for most everything, as it is without transaction fees.I do have ATM cards with me along with other cards. I did use the ATM card once in Sarlat as I was passing by, just to see if it worked..it did! Only time that I ever used it.

Joan

CarolA

"A BofA rep told me the same thing: an ATM card linked to a savings account SHOULD work in France -- it did not. Luckily, I thought he was clueless,"

Doesn't "clueless" pretty much define most of BofA. My Debit card tied to a checking accound didn't work in Spain, because they "forgot" to put the alert on it telling the system I was in Spain (I spent an hour waiting on hold to tell them, but...)

xyz123

janisj...many of the same near criminal banks that tack on extra fees for foreign transactions on credit cards do the same for ATM cash withdrawals on their ATM or debit cards...Bank of America, Chase, Citibank all do so and indeed it is 3% above interbank rates. Now Cirrus and Plus are fully owned subsidiaries of Mastercard and visa respectively and so all withdrawals are subject to the 1% above interbank rate; most banks pass that a long but you still do far better than exchanging cash which usually involves a rate 10% above the interbank rate plus assorted other fees and that's not really chump change as far as I am concerned; you might differ. On an $800 withdrawal, that would be $72 before fees....unless you need immediate cash to pay say for an apartment knowing there are ATM withdrawal restrictions, I just don't get the convenience thing. Nothing is more convenient for me than, while waiting for my baggage after a flight, going over and pulling a few euro or whatever currency I need from an ATM; depending on the country I usually have very little need for cash as almost everythingt in many countries (granted not all) can be done with a credit card...public transportation in from the airport on many local transit systems can now easily be facilitated with a credit card. Conbenience, that is true convenience, is to credit card everything wherever possible no matter how small and save the use of cash for those very few places, at least in the countries I visit, that don't take them. But in many places, those are becoming the exception rather than the rule.

ira

Hi Bee,

>She said that there's no guaranty that an ATM-only card would be accepted and advised me to bite the bullet, open a checking account, and get the debit card.<

I have been using ATM only cards from 2 different banks in Europe for many years.

One is connectd to interlink and Plus. The other to Maestro and Cirrus.

djkbooks

<<I've not heard that BofA (greedy lot that they are) tacks on 3% for debit card transactions.>>

You might want to call and check on that. More and more banks have added the currency conversion fee to ATM withdrawals and debit card purchases.

My bank added this only recently.

Dayenu

"convenience, is to credit card everything wherever possible no matter how small and save the use of cash for those very few places, at least in the countries I visit, that don't take them" - what about countries that add 3% for using a foreign credit card?

immimi

I think some of you are over-thinking this whole thing!

For the past 20 years we've travelled all over Europe, USA,
Canada, Mexico, etc. using a regular, basic, ATM card - no
debit attached. We also use a VISA charge card when it's
to our advantage. We take around 50 euro seed money from
home and hit an ATM machine at our destination. We make
sure the machine is adjacent/inside a banking institution
and we check to see the Cirrus/Plus logo is displayed.

We have NEVER had difficulty obtaining money and we have
found we really don't lose much in added-on fees. And
there are ATM's everywhere - just like North America.

Even when Amex traveller's cheques were the only game in town
they were a total p.i.a. - I can't imagine being bothered
with them now when it's so simple to obtain cash by ATM.

My motto is K.I.S.S.!

Nikki

Dayenu, I have not heard of countries adding 3% for the use of a foreign credit card. Do you know of particular countries that do this?

What I have heard of is dynamic currency conversion where merchants in other countries add a percentage to the exchange rate if they charge you in your home currency, and you do have to watch out for that but you can have them void the transaction if they do it and ask them to redo it in the local currency.

The way the 3% gets added to most credit card transactions abroad is when your own bank adds that on top of the exchange rate. But there are some credit cards, notably Capital One, that do not do that.

janisj

OK - sorry for the assumptions. Neither my bank nor CU tack on 3%. But even IF BofA does, there are no ATM fees at partner banks, and 3% is still much better than cali88 will get buying € at home.

xyz123

Nikki...In the USA we have two wonderful protections written into the merchant agreements regarding credit cards. Merchants cannot establish a minimum required for use of a card and they mayh not surcharge credit card purchases (although apparently cash discounts are allowed; somehow I don't see the difference). These protections do not exist, apparently, outside the USA. I have read, for examkple, that it is a practice in Denmark to add 3% surcharges for use of a foreign credit card (although the effect can be limited by using a credit card such as Capital One to avoid the foreign currency transaction fee). However, in almost all cases, you do better by using a credit card, no dccd, than you do by exchanging cash. Of course if you have a checking account that allows free ATM withdrawals and doesn't apply foreign transaction fees, in those cases where credit card surcharges are a way of life, you could do better by using cash withdrawn from ATM's that way. But in most cases, this is not a problem so I still maintain the most convenient and best method of handing money while travelling is using credit cards everywhere they are taken especially ones like Cap One and Charles Schwab Bank which even eat the 1% visa fee and give you the best exchange rates!

surfmom

I used a Schwab credit card recently and a Scwab ATM card... they were both great and I've checked statements - def. no 3% (or 1%) fees tacked on. Plus I get 2% cash back on cc transactions.

Nikki

xyz, is that added charge in Denmark for foreign credit cards or for all credit cards? I remember having to pay extra to use credit cards in Denmark when we were there several years ago, but I thought it was for all credit cards, not just foreign ones.

I do use a Schwab debit card at ATMs abroad, and they do charge nothing for currency exchange as well as eat the 1% VISA fee.

djkbooks

<<The extra charge for obtaining cash in the US may be fine for some. It is for me, because it is so small due to my only needing about 800 euros for my stays of perhaps 6 weeks. >>

gracejoan, few can afford the "you must be kidding" rates of ParisPerfect these days, or have the opportunity to visit Paris for 6 weeks. Those who can, perhaps, think nothing of paying a 10% markup for €800 euros, an €80 surcharge, which for many would be a lot of shopping or a very special meal.

Personally, I see no point in making the (mostly despicable) banks richer, and contributing to their parties and bonuses, for not providing a service I can acquire without their ridiculous fees otherwise.

gracejoan3

djkbooks,

I think last fall the extra that I paid for my 800 euros was about $20....not the 80 euros surcharge that you are talking about! The extra $20 'fee' that I paid I considered as convenience.

Re apartment rates...there are all kinds of apartments and prices. There are many, many apartments in the same price range as the Paris Perfect apartments. I see them all the time! Lots of nice apartments, in all areas. Many are now trying to stay longer..avoid the miserable flight coming up so soon!!

Joan