Sunday, April 15, 2012

Euro question

Is it better to get Euros prior to leaving the US or it is just as easy to get them once we get to Paris? We don%26#39;t want to pay huge fees either! Any help would be great!






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You should check the forum for information on currency exchanges, but in the mean time, your best bet would be to wait until you arrive at the airport and use the nearest ATM machine to withdrawal some euros. It%26#39;s the best exchange rate you can get.




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Robert: Do you mean to say that getting euros from the ATM in the airport is a better exchange rate than an American bank before leaving the US?




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%26gt;%26gt;%26gt;Do you mean to say that getting euros from the ATM in the airport is a better exchange rate than an American bank before leaving the US?%26lt;%26lt;%26lt;





Even if your local bank were to provide you with the lowest, %26#39;..interbank..%26#39; exchange rate, odds are that would be offset by the various charges and service fees thay%26#39;d add to the transaction.





You can wait until you arrive at your Paris airport to withdraw an amount of Euros from an ATM there but this assumes that you can find the machines easily and that there will be no problem with either the machine or your transaction. These problems are relatively unusual (not rare) occurences...but they do happen. It%26#39;s also worth noting that the US electronic banking systems usually go off-line every day for anywhere from 30 minutes, for routine up-dates and maintenance. This down-time usually occurs sometime between 02:00 and 4:00 AM EST. Given a six hour (later) time difference that%26#39;s between 08:00 and 10:00 AM in Paris. During one of these daily down times, your transaction may be refused for no particular reason. There are of course Bureau de Change at Paris airports where you can exchange dollars for Euros.





You best and safest bet is to purchase $100 or so worth of Euros from a Bureau de Change at your US departure airport before leaving. Yes, the exchange rate is lousy...but on such a small amount, it scarcely matters. This way you arrive in Paris with sufficient %26#39;..arrival/convenience..%26#39; cash (enough for airport transfer fares, tips, sundries) in hand and all ready to roll---without having to locate an ATM or worry about any electronic problems. Once you arrive at your hotel in Paris, you can serch out the nearest local ATM%26#39;s to your hotel, if you require more Euros.




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I%26#39;d listen to KDKSAIL%26#39;s advice. You can%26#39;t get a good exchange rate from any US bank, even if you are one of their so called %26quot;best customers%26quot; for a number of reasons, but the main reason being that, from what my banker has told me, is they are not in the currency exchange business and have to charge fees in excess of what you would pay using the ATM. Remember, they have to get the euros from someone else and thus have to charge you.




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Banks and exchange bureaus usually offer exchange rates that border on the criminal. ATM%26#39;s most defintely give you the best rate.





If you can find an ATM in the airport (CDG) that works, that day is your lucky day. They are notoriously unreliable.





However, once you get into the city, you will have no trouble with the ATM%26#39;s. Make sure you use a card from a major bank such as Citibank.





If you are taking the RER into the city, just buy your ticket with a credit card. That way, you don%26#39;t need cash until you get into Paris.




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If you carry AMEX, they will usually give you pretty good rates in the US... good enough to change your first 100, at any rate and better than anything you will find at an airport.




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Thanks for the great info! Sounds like it would be easy to get $100 when we leave the US so I am covered either way. Thanks so much.




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%26gt;%26gt;%26gt;If you carry AMEX, they will usually give you pretty good rates in the US... good enough to change your first 100, at any rate and better than anything you will find at an airport.%26lt;%26lt;%26lt;





Don%26#39;t bet the ranch on it. AMEX may offer you a good rate---but then they%26#39;ll hit you with a minimum shipping %26amp; postage charge which wipes out any rate saving---especially on a small amount:





%26quot;...Shipping Options



Delivery Options : UPS 2nd Day Service $12.95UPS Next Day Air Service $15.95



Order %26amp; Delivery Information





Fee: There is a $15.00 order fee plus shipping.



Order limit: There is a $1000.00 order limit in a 14 day period.



USPS Delivery: Shipped Standard First Class Mail via the United States Postal Service (USPS) and should arrive within 10 business days. (Business days are M-F)



UPS Delivery: 2nd Day UPS shipping may take up to 3 business days for delivery. Next Day Air shipping may take two days depending on your mailing address. The cutoff time for Next Day and 2nd Day UPS Shipping orders is 11:00 am EST. If it is received after 11:00 AM EST, it will ship the next business day (Business days are M-F). All orders placed on Friday after the 11:00 AM EST deadline, or on Saturday and Sunday, will be shipped the following Monday.



Delivery Addresses: We are only able to deliver within the United States and cannot ship to P.O. Boxes.



Foreign Currency: Please note that currencies marked with ** are special order and will take an extra business day to arrive...%26quot;.





To a great or lesser extent, they%26#39;re all pretty much highway robbers, with no need for gun or mask.






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I just ordered 100 Euro from my bank for my upcoming trip. The exchange rate they gave me was $1.36 = 1 Euro and they charged me $6 to have the money delivered to my local branch. It takes about 3-4 days for delivery. I bank with Wells Fargo.




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We always have Euros on hand (from our local bank) when we land.... too many times ATM%26#39;s are out of service in out of the way places in France, Italy, Spain, etc. We%26#39;ve been the %26quot;bank%26quot; for friends that have needed a cash infusion on more than one occasion when the ATm didn%26#39;t work.... Always leave with Euros (500 at least for a week).





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