Is it better to buy Euros at a bank in Paris?
#1
Original Poster
Join Date: Feb 2006
Location: VLO
Posts: 233
Is it better to buy Euros at a bank in Paris?
Will I get a better exchange rate buying Euros in Paris or should I just do it at one of the airport (SFO) currency exchange kiosks? I missed my window to do it at a bank here - for whatever reason the BofA currency exchange closed at 1400.
Thanks!
Thanks!
#4
Join Date: Dec 2003
Programs: UA Silver
Posts: 2,262
If you have a checking account with Bank of America, you can withdraw euros at any of BNP Paribas ATMs without foreign ATM fee. IIRC, there was no currency conversion fee as well.
#5
Join Date: Apr 2001
Location: DFW
Programs: AA EP 3MM, UA Silver, Bonvoy LT TIT, Hyatt Explorist, HH Silver, Caesars PLT
Posts: 7,259
Yes, definately. You see the BofA/BNP Paribas note above....
I have not experienced bank-owned ATMs in France (and most other European countries) charging a fee to use their ATM, but your bank may charge a fee. I did see some weird/new things in Spain on a recent trip...airport ATMs were charging a fee...and some ATMs presented an option to convert your withdrawal to local currency instead of hitting your account in EUR -- I always decline this conversion to USD in foreign countries as it is always a terrible rate (some shops attempt to do the same for credit card transactions).
My bank does not (ING Direct) charge foreign ATM fees, but if yours does, withdraw a larger amount to minimize the fee (e.g. 300 EUR or 400 EUR - be sure your daily withdrawal limit will permit such).
I have not experienced bank-owned ATMs in France (and most other European countries) charging a fee to use their ATM, but your bank may charge a fee. I did see some weird/new things in Spain on a recent trip...airport ATMs were charging a fee...and some ATMs presented an option to convert your withdrawal to local currency instead of hitting your account in EUR -- I always decline this conversion to USD in foreign countries as it is always a terrible rate (some shops attempt to do the same for credit card transactions).
My bank does not (ING Direct) charge foreign ATM fees, but if yours does, withdraw a larger amount to minimize the fee (e.g. 300 EUR or 400 EUR - be sure your daily withdrawal limit will permit such).
Last edited by aamilesslave; Aug 2, 2011 at 8:54 am
#6
Moderator: American AAdvantage
Join Date: May 2000
Location: NorCal - SMF area
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Even "foreign ATM" fees may be a lesser injury than that caused by the skewed exchange rates offered by exchange kiosks / bueeaux de change (especially at airports). Check the rates at SFO vs. what xe.com represents and what the commercial rate is used by banks.
#7
Join Date: Mar 2008
Location: BOS
Programs: UA 2P, DL, FL A+ Elite, AA
Posts: 349
I always use BNP and other members of the Global ATM Alliance. Great feeling to be able to take out $10 of cash with no fees! ^
#8
Original Poster
Join Date: Feb 2006
Location: VLO
Posts: 233
Thanks all, for the information. I ended up getting a few hundred dollars changed at SFO at a poor rate when compared to xe. I'll be withdrawing the rest from ATMs. I bank with First Republic and they reimburse all ATM fees worldwide.
#9
Join Date: May 2003
Location: Redwood City, CA USA (SFO/SJC)
Programs: 1K 2010, 1P in 2011, Plat for 2012,13,14,15 & 2016. Gold in 17 & 18, Plat since
Posts: 8,826
The best place I've found for exchanging currency in Paris was at an obscure place in the Galerie du Claridge on the Champs Elysees. I didn't check to see if it's still there this past trip, but it has consistently had very favorable exchange rates and, I believe, no fees. I have a photo of it from a few years ago in this piece on my website.
In any event, there is no rocket science involved in exchange rates. You want to know just one thing. I give you $300 (or whatever), and I get back how many Euros? The differences can be astounding. Make sure you have this conversation before you hand over any money, because all transactions are one-way. Once you slide the money to them, it's too late to back out.
In any event, there is no rocket science involved in exchange rates. You want to know just one thing. I give you $300 (or whatever), and I get back how many Euros? The differences can be astounding. Make sure you have this conversation before you hand over any money, because all transactions are one-way. Once you slide the money to them, it's too late to back out.
#10
Original Poster
Join Date: Feb 2006
Location: VLO
Posts: 233
The best place I've found for exchanging currency in Paris was at an obscure place in the Galerie du Claridge on the Champs Elysees. I didn't check to see if it's still there this past trip, but it has consistently had very favorable exchange rates and, I believe, no fees. I have a photo of it from a few years ago in this piece on my website.
In any event, there is no rocket science involved in exchange rates. You want to know just one thing. I give you $300 (or whatever), and I get back how many Euros? The differences can be astounding. Make sure you have this conversation before you hand over any money, because all transactions are one-way. Once you slide the money to them, it's too late to back out.
In any event, there is no rocket science involved in exchange rates. You want to know just one thing. I give you $300 (or whatever), and I get back how many Euros? The differences can be astounding. Make sure you have this conversation before you hand over any money, because all transactions are one-way. Once you slide the money to them, it's too late to back out.
Thank you, Mike!
#12
FlyerTalk Evangelist
Join Date: Nov 2007
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First Republic here as well. Have used ATMs in some 20 countries in the past couple of years... an excellent exchange rate on each occasion.
#13
Moderator: American AAdvantage
Join Date: May 2000
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I had no problem finding an ATM walking from the CDG T2-A arrivals exit from formalities going to the gate for the Air France Les Cars to the etoile. Certainly better rates than the deal offered by Travelex at the LAX TBIT - one look at their rates and I decided to pass them up. E.g.
Today's rate: $1,000.00 USD = 705.09 EUR
Travelex online rate = 657.40 EUR ("no fees":Travelex::no profit:duty free)
Today's rate: $1,000.00 USD = 705.09 EUR
Travelex online rate = 657.40 EUR ("no fees":Travelex::no profit:duty free)
Last edited by JDiver; Aug 5, 2011 at 7:20 am
#14
Join Date: May 2003
Location: Redwood City, CA USA (SFO/SJC)
Programs: 1K 2010, 1P in 2011, Plat for 2012,13,14,15 & 2016. Gold in 17 & 18, Plat since
Posts: 8,826
I didn't realize that post offices exchanged currency. How common is this? I know they very kindly make change (was in La Grave and needed money for the Laverie/Laundromat). And train stations too? This is new to me! Thanks for any info you can provide on this-
#15
Join Date: May 2006
Programs: Delta Skymiles, Flying Blue
Posts: 717
ATM always results in the best net exchange rate (including fees) or, better yet, charge your expenses with a Capital One card, with NO foreign transaction fees.
Note: La Poste in France basically can do everything a bank can do...
Note: La Poste in France basically can do everything a bank can do...