Traveling to Paris in May-Any suggestions as to what form to bring money in? Has anyone used the AMEX pre-paid cards? Is a credit cxard all I need? What about ATM fees/ I%26#39;m sure you get my dilemma! Thanks!!
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I use my credit card and then I use my debit card for cash through ATM%26#39;s. Usually, if you use a bank ATM you won%26#39;t be charged a fee from that bank, just a fee from your own bank. Transaction fees for cash usually run around $2-3 depending on how much you take out, what you bank charges. Call your bank and let them know you are traveling to Paris. I haven%26#39;t been to Paris in three years (sob sob) but I do believe you need a four digit pin for their ATM%26#39;s.
We did use the VISA pre-paid cards we obtained from AAA for cash withdrawals and purchases. The problem was that many of the restaurants would not accept them.
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ATMs will give you the best rates for cash I think. LondonLady was right about the 4 digit pins, also i think you can%26#39;t have the first digit of your pin as a zero.
I%26#39;m taking a small amount of euros with me just in case i need it at the airport or whatever reason. THen I plan on taking out money at the ATM and using my credit card to buy my metro pass and other things.
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You want to stay away from the Amex pre-paid cards. They are useful it you are sending you children abroad and what to control how much they are spending, but for yourself, a standard ATM/debit/check card is the best option, as already stated. The exchange rate is the best you%26#39;re going to get and you don%26#39;t have to get any euros until you arrive at the airport.
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As a general rule, using major credit cards for the purchase of most goods and services will get you the best exchange rate---but this will also depend upon the foreign currency transaction fess of the specific credit card(s) you carry. ALL credit cards will add on a minimum 1% to each transaction, direwctly from VISA, M/C or AMEX and then add on an ADDITIONAL percentage, depending on the individual card issuer (Citibank etc.) These additional foreign currency transaction fees may range anywhere from another 1%-to-6%. So if you carry more than one credit card, it may well pay you to find out which card charges the lowest fees---then use this as your %26#39;..primary..%26#39; and another as a %26#39;..back--up..%26#39; Since these transaction fess are usually %26#39;..buried..%26#39; within the exchange rate calculation, the ONLY way to find out is to check with each card DIRECTLY. You should also notify your credit card company that you will be traveling abroad so that their internal security procedures and protocols do not mis-interpret your foreign useage as suspicious/fraudulent and %26#39;freeze%26#39; your account.
Unless it is an emergency, you should NEVER use a credit card to make Cash Withdrawals from an ATM. Such transactions are treated as Cash Advances, charged fees and then charged interest (usually at the highest rate) from date of withdrawal until date of re-payment.
For cash withdrawals of foreign currency, you should use your bank ATM card--if you have one. If you do not, you may have time to get one from your bank before you leave (with most banks this takes 2-3 weeks). An ATM card will get you the best foreign exchange rate BUT....you should also be aware that almost all ATM cards have a fixed charge ($1-to-$5 depending on the institution) for each individual foreign currency Cash Withdrawal from a foreign ATM. So, you also need to check with your bank to find out what their ATM fee policy is. As an example Bank of America ATM card holders are not charged any ATM fees if they use ATM owned by the BNP(BNP-Paribus) banks in Paris...but will be charged fees if they use ATMs operated by any other Paris bank.
As has been suggested, the relatively new products from VISA--%26#39;..Travel Money..%26#39; and AMEX %26#39;..Travel Funds..%26#39; are best used for limited purpose...such as students traveling abroad. There are up-front fees and charges for their purchases and then additional fees and charges with their use. These products are more convenient and usually provide better exchange rates than traditional Traveler%26#39;s Checks and can be but are not as good as conventional ATM cards from your regular bank or conventional credit cards. You need to read the Terms and Conditions section of each product for these details.
VISA-%26quot;..TRAVEL MONEY..%26#39;-- …visa.com/ps/products/vtravelmoney/
AMEX-%26#39;..TRAVEL FUNDS..%26#39;--
…americanexpress.com/sif/…00.asp
These days, conventional Traveler%26#39;s Checks are only used as %26#39;..emergency/back-up..%26#39; funds---in case all the wheels come off of your wagon at once---not simply as extra cash. If you do carry TC%26#39;s for this purpose, get them in US $ denominations. In many cases, US $ denomination TC%26#39;s are free at local banks or to AAA members...so there will be no foreign exchange rate %26#39;hit%26#39; when you purchase them nor will there be a second exchange rate %26#39;hit%26#39; when you try to redeposit them in your regular account when you return home with them un-used.
These electronic methods of payment and withdrawal are very convenient---but what you don%26#39;t know about their hidden fees and charges can cost you a substantial amount...%26quot;..What%26#39;s in yur%26#39; wallitt??..%26quot;
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I have a Bank of America card to use in Paris , and would like to withdraw money from BNP Paribus bank ATM machines.
I called BNP Bank in NYC and they have no idea what I am talking about using there ATM on what fees they charge etc.
The same thing with Bank of America. If I read some previous post correctly.are there any relations with the two banks.
Confused.
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%26lt;%26lt;%26lt;I called BNP Bank in NYC and they have no idea what I am talking about using there ATM on what fees they charge etc.%26lt;%26lt;%26lt;
It%26#39;s normal : European banks won%26#39;t charge anything for ATM use.
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If you go to the Bank of America website and click on locations. It says:
Travelling Internationally?
Use your ATM card or Check Card within our Global ATM Alliance in the countries shown with no fees.
Barclays (United Kingdom)
BNP Paribas (France)
China Construction Bank (China)
Deutsche Bank (Germany)
Santander Serfin (Mexico)
Scotiabank (Canada)
Westpac (Australia and
New Zealand)
I%26#39;ve been told by BofA that I will not get charged the usual $5 fee for using my ATM card internationally.
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Posts like this are quite frequent in this forum from American forumists.
Just curious: isn%26#39;t it normal to go to your usual bank in America before travelling abroad to get at least some cash in the foreign currency (euros) - and change maybe just 300-500 $ (which you will quickly spend in Paris) ??
I would never go to a foreign country without at least a small amount of the local currency in cash.
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It maybe %26quot;normal%26quot; for most but I often arrive in foreign countries with zero local currency. Eruope, I always have Euro lying around but never over 100 EUR. Of course I have multiple sources of fund access once I arrive at a foreign airport/train station. So far, I%26#39;ve only used ATM.
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