While there are caveats and disadvantages to each method, FlyerTalk members based in the United States debate on the best way to access money without being charged fees.
Which do you believe is the best Free money – ATM strategy for France, and could any of the strategies mentioned be useful while in other countries?
I am an expat currently residing in Europe and frequently transfer funds and travel to and from the US and other countries. I can tell you that there is no possible way to get “free” money when traveling, in the best case all you can do is minimize the expense.
Generally speaking your bank should give you the best rate of the day based on the time of the transaction…or at least better than you would get at the local back at your destination. I think the exchange rate is usually based on the interbank rate plus a couple of percent.
If you have a middle quality, or poor quality bank that will charge you for all ATM withdrawls while traveling then you might want to consider buying travelers checks and cashing them at a bank at your destination. There are always deals out there and you can get checks for cheap if not free.
If you use a credit card for your expenses then you can expect between 2-4% on the transaction.
I am an expat currently residing in Europe and frequently transfer funds and travel to and from the US and other countries. I can tell you that there is no possible way to get “free” money when traveling, in the best case all you can do is minimize the expense.
Generally speaking your bank should give you the best rate of the day based on the time of the transaction…or at least better than you would get at the local back at your destination. I think the exchange rate is usually based on the interbank rate plus a couple of percent.
If you have a middle quality, or poor quality bank that will charge you for all ATM withdrawls while traveling then you might want to consider buying travelers checks and cashing them at a bank at your destination. There are always deals out there and you can get checks for cheap if not free.
If you use a credit card for your expenses then you can expect between 2-4% on the transaction.
