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Is it better to buy Euros at a bank in Paris?

Is it better to buy Euros at a bank in Paris?

Old Aug 1, 2011, 8:33 pm
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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!
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Old Aug 1, 2011, 8:47 pm
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ATMs are best.
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Old Aug 1, 2011, 9:27 pm
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Originally Posted by aamilesslave
ATMs are best.
So you get a better rate via ATMs?
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Old Aug 1, 2011, 10:57 pm
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Originally Posted by rakers
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!


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.
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Old Aug 2, 2011, 8:41 am
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Originally Posted by rakers
So you get a better rate via ATMs?
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).

Last edited by aamilesslave; Aug 2, 2011 at 8:54 am
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Old Aug 2, 2011, 10:59 am
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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.
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Old Aug 3, 2011, 11:07 am
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Originally Posted by N227UA
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.
+1

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! ^
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Old Aug 4, 2011, 4:49 pm
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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.
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Old Aug 4, 2011, 6:12 pm
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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.
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Old Aug 5, 2011, 5:00 am
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Originally Posted by Mike Jacoubowsky
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.
Good info on that page of yours. Redwood City, Climate best by government test! I used to live there and remember Chain Reaction.

Thank you, Mike!
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Old Aug 5, 2011, 6:45 am
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i got good rates at banks, and better at the post office and the rail station. unless you are trading for 500 or 1000, don't worry and just make the transaction. 1% of 1000 is 10.
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Old Aug 5, 2011, 6:53 am
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Originally Posted by rakers
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.
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.
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Old Aug 5, 2011, 7:15 am
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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)

Originally Posted by SFO777
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.

Last edited by JDiver; Aug 5, 2011 at 7:20 am
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Old Aug 5, 2011, 10:08 am
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Originally Posted by slawecki
i got good rates at banks, and better at the post office and the rail station. unless you are trading for 500 or 1000, don't worry and just make the transaction. 1% of 1000 is 10.
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-
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Old Aug 7, 2011, 10:55 pm
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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...
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