USD to EURO for trip in March
 

Planning a trip from USA to France in March. Wondering what's the best way to exchange USD to EURO.

Would it be to exchange in USA before leaving for Europe? Citibank today sells @ 1.39. Or exchange it in Paris? If so, how convenient? and what's the cheapest exchange service in Paris (airport/hotel/bank??)

Thanks alot.

DO NOT EXCHANGE in the U.S. Use the search funtion on this board because we've covered this many, many times. Use ATMs. If you need a small amount of Euro bills to be comfortable for your arrival, get a small amount.

No exchanging is necessary. For the best rates pay for as much as possible with your credit cards. Then use your ATM card to get cash for walking around money. This will give you much better rates of exchange than changing cash.

Best rates..Debit Card...usually a $1.50 service charge regardless of amount drawn.

liablo; I got some euro 2-3 weeks ago and they were selling for e1.50 and change.
I dug up the past discussion on this forum and i learned alot. My situation is such that i have to pay the apartment owner 600 euros in cash upon arrival. Now someone here recommended the airport atm machine. I forgot to tell him it was that amount though. I read from time to time the atm machines in Paris ran out of money or not in service. Are those isolated cases?
i have the citbank atm card w the cirrus and other logos at the back. i should not have problems. right?
thanks,
mohan

I've used ATMs a lot in Paris, and yes, those are isolated instances where they don't work. I've never tried to get 600 euro out of them at one time, though, I think there may be limits.

You shouldn't have a problem -- however, if you do, switch bank ATMs, not just different ones. For example, I can never get money out of CIC's ATMs, but usually have no trouble with BP or BNP. There are some times when I think there are more problems than others, also (like Sundays).

YOu had better find out about limits if you are taking no euro with you and must come up with 600 euro upon arrival.

I think most of us are fond of backup plans when it comes to money, so I carry a couple of cards as well as some cash. You need a 4-digit PIN and if your card issuer isn't accustomed to seeing foreign charges from you, then you might want to give them a call to let them know you will be traveling. While you're at it, find out what your daily limit might be at ATM machines.

The key question indeed is: What is your daily limit? The ATM limit on an individual withdrawal is less than 600 euro (at least it was on my last trip to Europe). So, if your daily limit is at least 600 euro, you can just make more than one withdrawal. But, if your daily limit is under the 600, you've obviously got to have some euro when you arrive in France.

Does the daily withdrawal limit apply if you take your debit card INTO the bank and have the teller manually perform the transaction?
I'd like to know if anyone has done this.

Check with your bank as to what your daily limit will be. If it isn't 600E then get them to change it. At the ATM there is a line at the bottom to enter an amount different from the 100, 200 lines.

Liablo-I have just flown two Paris trips back to back this week(getting back last night from the second trip) and both times the dollar was $1.31 to $1.33 everywhere for an exchange. DO NOT GET YOUR MONEY in the USA-there are ATM's everywhere!
I encourage everyone to take 2 Visa cards and 2 ATM cards when traveling through Europe-that way you have a backup for extra cash or if you "suddenly are separated" from your one of your cards! Just like Starbucks-there are ATM's every block it seems. Count on 3 things when going to Paris-everyone carries and talks on their cellphones;alot of smokers and ATMs everywhere! Have fun.

thanks dutyfree. 2 atm cards sound like a good idea. what would be the best atm card to carry?

Call the 800 number on the back of your ATM card and find out who the partner banks are and what are your daily limits. They can give you a lot of information.

Minimal minimal problems I've ever had with ATMs in Europe, even the smallest of towns. Do not buy Euro in the US prior to your trip, the rate is terrible. Even if you have to exchange cash at the airport because of a malfunctioning ATM that is better....otherwise use ATM for cash and charge everything else, best rates.

You can Purchase American Express Traveller's Checks in Euros at your local AAA office with no exchange fee, making this be best deal going. You pay in US Dollars the equivalent value of the total value of the checks you purchase, using the exchange rate on the day of purchase. When you're in France you can make purchases with these checks or take them to a bank in exchange for Euro currency.

Buying travelers checks is something caught in an 80s timewarp. Its a horrible exchange rate and illadvised. Using your ATM card or credit card for purchases you get the best rates, simply because they are "bank transactions" and generally those have the best exchange rates as they are calculated on the commercial rate of exchange which typically is for banks $1M or more...so going through a bank you reap those same benefits.

Botherleelove, I'm confused. Are you suggesting that a AAA office in the US sells you Traveler's Cheques in euro AT the prevailing bank rate? While they make a big deal about no fees, I checked within the last year and the exchange rate for purchasing them in Euro was a little over 8% higher than the current bank rate -- the rate you'd get with an ATM card.

By the way, your suggestion that you use those checks in France is a bit hopeful. You have to search high and low for a shop that will accept those checks -- many will not -- and even then be prepared to present two pieces of ID and have them copy information (you may be asked to leave blood too --LOL). And many banks will charge you a fee to cash them -- yes, even when they are already in euro.

Nix the traveler's check idea-most banks won't take them overseas unless you bank with them and the shops avoid them like the plague. Mohan-I have an ATM card with my company's credit union tied into my checking account and a CITIBANK ATM card. I always carry one on one part of me(inside fanny money belt) and then have the other one in my EURO wallet.One other thing that I would recommend to all is to call your VISA,MASTERCARD or AMERICAN EXPRESS cards and tell them when you are traveling overseas and to what countries. They make a note of it on your computer information and that way they will allow you to charge things on your card. Some VISA cards will not allow the charge from overseas if they do not get a verbal nod from you that you are going over there-security theft reasons.

I forgot to add a quick story to the above. I charged some things in the dutyfree shop in Rome one trip and then that evening when I was home I charged some things from Ace Hardware in our town. VISA/CITIBANK called that night and wanted to know what the story was on the two continent action in one day-my response...."super shopper"!!!

Dutyfree:
Thanks for your advise. I will call my credit card company to let them know. I have never done that in the past but these days one cannot be too careful. I did call citibank to ask what was my limit of atm withdraw per day. Turned out it is more than enough. The number to call in Paris if you ran into any problem or dispute and need to talk to citibank is 0800906248.

Mohan:
We needed money also to pay the balance of our apartment rental. I knew that the machine at the airport would not be enough, so only that time did I go to the currency exchange at the airport. I know that it is more than an atm, but I felt it was the best option for a large sum of money. After that we used the atm when we needed money. I also call my credit card company before I leave. They have been known to block accounts if they get a charge they question. Better safe than sorry.

Odd-man-out here... I needed to do the same thing; lots of "cash" for the apartment. Anyway, I have a friend who works for a bank and she got me Euro's for dollars without any fees for that days rate. Worked for my piece of mind anyway. AND, I LIKE having some on me when I arrive. It makes me feel better.
I guess I'm the wussy.

the info from 'brotherlylove' is misleading at best. you can NOT spend Travelers Checks euro or otherwise in just any old shop, restaurant, or business. would most likely require a trip to the bank. and i can't believe they have no fees and perfect exchange rates (or everybody would be doing this!).

ATM is the way to go. 2 cards is a good idea. back it up with Euro bought at home, if you are feeling insecure and willing to pay extra for this convenience. take a charge card or two. tuck away some U.S. bills for emergencies.

I would only consider travelers checks if your trip is a long one, or you must pay hotel bills in cash.

We reserved with credit cards for hotels
and rentals car but paid cash at checkout and when we returned the car,
Except for the deposit for the insurance
and we used our ATM CARDS for cash. The exchange rate was the best and the fee was $1.50 each time, but worth it! We also had 5 $100.00 bills and $500.00 in travelers checks but they were useless!
I couldn't find an ATM in this little French town on our way to Paris and we wanted to go to the supermarket there so I went to a bank next store the market to cash a $100.00 bill or a travelers check but was told I need an account at the bank to cash one! The bank had an ATM but it was out of order, we found one at the post office and went to the market.

If the bank is a MC or Visa bank, and if your ATM card is a debit card (with a MC or Visa logo) you could have requested a MC or Visa cash advance which on your end in this case would trigger a withdrawal from your chequing account....a procedure I often use in the US when I don't want to pay the asinine fee banks charge for having the audacity to use their ATM's, a fee which does not exist in Europe.