My wife and I are off to Paris shortly for a week, and we expect to spend about $3000. Should I get traveller%26#39;s cheques like I used to or should I get used to pulling lumps of cash from ATM%26#39;s? What is your experience, vis a vis optimum currency exchange, with using a credit card more frequently and then having the bank convert the debit on our bill? Are ATM%26#39;s just as prevalent in Paris as elsewhere?
Thanks.
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My personal choice is to get cash from the ATM. If you are a Bank of America customer you can use the BNP Paribas ATM%26#39;s for free.
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Travelers checks are becoming a thing of the past and have fees attached. Use ATM at a bank (in case your card gets swallowed up, you can go in and retrieve it) and pay with your visa/mastercard as often as you can. Yes there are small fees but not more than those you get if you use a different way of getting cash.
If you care to do the search, you can shop around at different banks and see who offers you the best deal, but frankly it is not worth the trouble unless you are a frequent traveler.
A good thing to do is to call your CC company and your bank and tell them you will have transactions posted abroad. As a measure of protection for their customers, some banks will block your account if they see unusual activity.
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absolutely go with the ATM. They are everywhere and as such extremely convenient. But do heed la_photograph%26#39;s advice and check with your credit-card companies. One of mine charges 3% as a currency exchange fee but I have several others including my credit union debit card that only charge 1% which I find quite reasonable. Generally CC%26#39;s get the best exchange rate of the day so using them (or debit cards) at ATM%26#39;s is MUCH more economical than paying extra fees at the bureaux des exchanges for traveler%26#39;s checks.
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In my five trips to Paris since 2000 I have always
used ATM%26#39;s. I use my BofA ATM card for several
days worth of cash. For a major purchase I use
my Visa Card.
You have been given good details by JustGrace
and la photographe (Hi to both of you).
Best wishes,
Randy
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ATM is the way to go,but use your debit card,BNP Parabis if you have a Bank of America account,only 1% charge and gets the best exchange rate.
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PNB the sister bank of B of A did not charge me any fee (1%??) for our use of the ATM from May- August %26quot;06%26quot;.
Do not bring Traveler%26#39; s checks. I used only two $100.00 TC out of the $10,000. we brought for a three month trip!
The fees were a rip off from American Express when we tried to cash them! We only cashed two for an emergency situation. Most hotels etc won%26#39;t take them. You can cash them at American Express and some banks and also the Cambios. But expect to get a low exchange and watch out for commission charges! For one $100.USD TC I got last summer 74 Euros and no commission charges from a Cambio.
If you can get a %26quot;Capital One%26quot; Visa credit card they do not charge a fee for using them as other credit card companies do! (The company eats the Visa 3%!) Plus they also give a great exchange rate for conversion. It is the best card!
We are going to use it in Canada in three weeks! and in Mexico this winter!
ATM%26#39;s are all over Paris. Just take all the pre-cautions such as using they only at places that have an %26quot;open%26quot; attached bank so if your card is eaten you can retrieve it or make sure no scam was pulled on you. Our ATM bank told us to get a duplicate debit card in case the bank will not give you back the eaten card ( some banks have this policy).
Also the money comes from your checking account not your savings ( no such option in France).
Hope that helps you.
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