Currency Exchange in Los Angeles
 

Hey guys,

So i'm about to take a business trip on over to France and I need a ton of Euros. The exchange rates are quite high here in LA so if you can give me a reasonable place to do business with that would be greatly appreciated.

Take your ATM card and get your euros the same way you get dollars. Really, the most you'd pay is about 3 percent (that's if your bank is one of the greediest; many only add the 1 percent that the international Cirrus/Plus system charges) and/or $5 per transaction (again, the greediest bank; others charge $0 for some accounts, at least). There will be no fee from the French bank whose ATM you use.

Likely, the best thing to do is to use a bank ATM in France. Tell your bank you are going to France and when.

If you would feel more comfortable getting some euros ahead of time, you can use the exhange at the airports.

With all the ATM and credit card scandals who knows what you'll get yourself into. I went to the Westfield mall at century city and exchanged some US dollars to pounds before my trips abroad. Go to the concierge desk and they will be happy to exchange some cash for you. After all its better to lose cash then lose your cerdit..

I think the least expensive way to get foreign currency is to order it through your local bank. You need to order it in advance, usually just a few days. Check with your local branch.

It was nice to have the euros upon arrival, and not have to use the more expensive money changers in the airport.

Bon Voyage!

The least expensive way is to use ATMs. Any service that exchanges one currency for another has to charge more to make a profit than ATMs that have (almost) no overhead. If you can find a bank the will give you foreign currency for less than 4% over the interbank rate, you've found a rare exception to the customary 5%-10% (not to mention overnight express fees, etc).

Yes, the least expensive way is to use ATMs abroad.

If you really need to exchange $$ for Euro here, and you have an American Express card, do as I do and go to the AmEx office in Beverly Hills on Beverly Drive. They have the best rate, been using them for years. I personally like to have about 200 Euro in my pocket before landing -- just in case the airport ATMs are down (has happened) and I need to grab a taxi. Also, since I want to use a partner bank when using the ATM (i.e Bank of America is partnered with Deutchbank in Italy, or BNP in Paris, or Barclays in London), since there's no transaction fee, I don't want to have to worry about what ATM is sitting in the airport terminal.

The Century City Mall concierge desk (and I noticed this a few weeks ago) does have an exchange service. But it gives a terrible rate.

<i>With all the ATM and credit card scandals who knows what you'll get yourself into. I went to the Westfield mall at century city and exchanged some US dollars to pounds before my trips abroad. Go to the concierge desk and they will be happy to exchange some cash for you. After all its better to lose cash then lose your cerdit..<i>

This is alarmist nonsense that tells you nothing and doesn't even relate directly to France.

Take your DEBIT card to an ATM in France and get Euros the same way you get cash in LA.

And why do you need a ton of cash Euros for your business trip? Don't you have credit cards? France accepts credit cards.

I was wondering about the need for a ton of cash as well. The average business traveler won't need more than you can get out of ATMs in France. Is there a specific reason that you need a lot of cash?

As for getting cash ahead of time to avoid using ATMs overseas out of fear for one's credit, I definitely think this is alarmist. It is much more risky to carry a bunch of cash around with you than to get cash from ATMs. If your cash is lost or stolen, it's gone. End of story. If someone steals your ATM card or lifts your number and then takes money out of your account, you can file a claim with the bank and get your money back. This will not harm your credit score in the least.

Some of the above posts are just plain wrong - verging on silly.

Surfergirl, BigRuss, and kayd have it right.

There is no need (and no inexpensive way) to exchange currency in LA or anywhere else in the States. If you simply feel you <i>must</i> have some € in your pocket on arrival-- you can exchange one or two hundred $$ for €€ in the departure lounge of at your departure airport (likely LAX)

But even that is unnecessary really.

In France -- Use your ATM card to get cash and your credit cards for everything else (not DiscoverCard though)

Oh - didn't see novembermoon's post -- that is also good info . . .

The Washington Post did an in-depth study last year about the most cost-effective way to get cash for Europe. They compared buying it in the U.S. in advance, using exchange booths, and using credit cards and ATM's. The big winner was ATM's.

See the results at: http://www.washingtonpost.com/wp-dyn...T2010051403300

Not sure why you need so much cash - unless you are renting an apartment and need to pay cash up front. Other than that carrying a lot of cash is extremely foolhardy - and many countries have laws on how much cash you can import or export (it depends on what you mean by a lot - but this could be as little as $10,000).

To keep costs as low as possible you should pay for as much as possible with CCs and pull walking around money from your checking account with a debit card at the ATMS on practically every block.

Thanks for the advice guys. I had never really gone through the whole process. After checking out everyone's rates I got the best rate at Century City...only going to exchange some starter cash so I can feel secure about using ATMs later. All the ATM and credit card scandals lately just have me being paranoid especially with company funds..

"All the ATM and credit card scandals lately just have me being paranoid especially with company funds..."

What ATM and credit cards scandals lately?

Be sure to call your bank to let them know you'll be in France. They might tag your account for fraud otherwise after your first transaction and then your account will be frozen. You can probably also get a temporary increase in how much you can withdraw if you think you'll need a ton of cash. Be aware that the individual ATMs may not allow a large withdrawal but you'll be able to withdraw up to your daily maximum at more than one ATM.

I don't understand what you mean by the credit card scandals either. Did I miss something?

You keep talking about CC and ATM scandals and I have no idea what you mean. Unless there is some worldwide rash of these things that I have somehow missed - they are way safer than dealing with massive amounts of cash - which can esily be stolen. And once gone you are out of luck.

With CC and debit cards - the risk belongs to the bank or card issuer - not you.

ATM Skimmer

http://bucks.blogs.nytimes.com/2010/...a-t-m-skimmer/

http://www.youtube.com/watch?v=m3qK46L2b_c

Credit Fraud

http://money.howstuffworks.com/identity-theft1.htm

This is why I think twice about bringing cards over there..

Why do you think it's worse to use a card there than it is here?

I glanced quickly at your links, and did not see anything that indicated more of a problem in France than in California. Just a reminder to use cards cautiously wherever you are.