Foreign exchange for visitors to France - Tips and warnings (2024)

FAQs

Should I exchange money before I travel to France? ›

Resist the urge to buy foreign currency before your trip.

Some tourists feel like they just have to have euros or British pounds in their pockets when they step off the airplane, but they pay the price in bad stateside exchange rates. Wait until you arrive to withdraw money.

Key Takeaways. European travelers should always have some cash on hand; getting it from an ATM abroad is usually the easiest, most advantageous way. If you need cash from an ATM, it's usually better to use a debit card, because credit cards often charge a high interest rate for a cash advance.

The short answer is: Always pay in the local currency (Euros), which allows your bank to set the exchange rate, and it will always be a better option. If you choose to pay in dollars, you get the worst exchange rate from the merchant.

You can get better rates by ordering foreign currency from your local bank or credit union before you start your trip. Correct! Banks and credit unions generally offer the best exchange rates, and many won't charge extra fees to exchange currency. Remember to order the foreign currency before you start your trip.

US dollars are not accepted. Please be sure to have the correct currency on hand or be prepared to exchange your dollars for Euros upon arrival. In our culture we can put everything on credit and debit cards, however, in Europe you will find it useful to always keep a little cash on hand.

Banks, credit unions, online bureaus, and currency converters provide convenient and often inexpensive currency exchange services. Once on foreign soil, the best means to convert currency is to use a foreign automated teller machine (ATM) or identify whether your bank has ATMs or banking affiliates nearby.

Always choose the local currency, euros, to avoid extra DCC charges. Consider limiting your transaction to 100€-200€, as you can get a better deal at bank and credit union ATMs once you're in Paris proper.

It's always advisable to bring money in a variety of forms on a vacation: a mix of cash, credit cards, and traveler's checks. You should also exchange enough petty cash to cover airport incidentals, tipping, and transportation to your hotel before you leave home, or withdraw money upon arrival at an airport ATM.

It is cheaper to exchange money at the bank (or by using an ATM) than the airport. That's because currency exchange stores and kiosks at the airports mark up the exchange rate to make a profit. They know that travelers who just got off a plane probably need money right away.

How can I get euros before my trip? ›

In almost every case, euros you can get abroad from an ATM will be cheaper than those you can get back in the States. When buying in advance, get just enough to give you a comfortable cushion and get you through a day's worth of emergency expenses.

Best day of the week to exchange currency

According to data from WeSwap and The Telegraph, you'll generally enjoy the best currency exchange rates on Fridays and Saturdays. Currency can fluctuate throughout the day too, with the morning or late afternoon cited as the best times to buy.

Credit cards typically provide better exchange rates than what you'll get from ATM machines and currency stands. Depending on your card issuer, your purchases might automatically qualify for insurance. This coverage doesn't simply apply to consumer goods — it also covers travel delays and lost luggage.

Avoid Currency Exchange Kiosks at Airports

If you don't have time to get cash at the bank before your trip, it can be tempting to get foreign currency at an airport kiosk or currency exchange counter. These merchants offer convenience, but their exchange rates are typically much less favorable than your bank at home.

L'addition, s'il vous plaît. The bill, please.

The Banque de France ensures that everyone has access to cash, as well as compliance with the legal tender requirement (a retailer cannot refuse a cash payment) in the name of the consumer's freedom to choose the payment instrument.

For housekeeping, you'd leave gratuity as you would in most hotels around the world—a few euro per day. And finally, for a concierge giving excellent recommendations or taking care of your reservations, you might tip five to €15 for each reservation or booking they handle.

1 EUR = 1.09225 USD Jul 02, 2023 10:08 UTC

Check the currency rates against all the world currencies here. The currency converter below is easy to use and the currency rates are updated frequently.

How much is $500 in euros in us? ›

Those who want to obtain Euros ahead of time have no shortage of options. While banks usually offer the best and cheapest exchanges, plenty of foreign currency exchanges and travel money cards are also worth consideration.

eurochange are the foreign exchange experts. They provide an award-winning service which is rated 'Excellent' on Trustpilot, offering the widest range of currencies including Euros and US Dollars.

France, like most countries in the world, uses GSM (Global System for Mobile) for cell phone communications. This is why your phone has to be GSM compatible to function in France. In the United States, Sprint (now T-Mobile) and Verizon use a different system called CDMA (Code Division Multiple Access).

Debit cards from any major US bank will work in any standard European bank's ATM (ideally, use a debit card with a Visa or MasterCard logo). As for credit cards, Visa and MasterCard are universal, American Express is less common, and Discover is unknown in Europe.

In short: For a limited budget, the total cost of a one-week stay in Paris is about €645, or €92/day. For a medium budget, the total cost is €1,182 or €168/day, and for a luxury budget, the total cost for one week is €3,366 or €480/day.

Weekdays are the best days to visit Paris to avoid the biggest crowds. Shopping in Paris is also better during the week, especially on the Grands Magasins. On weekdays, you will also find more availability and lower prices in accommodation and transportation than on weekends.

If you are carrying a sum of money that is equal to or greater than €10,000 (or its equivalent value in other currencies), you must declare this to customs upon arrival in or departure from France. Using Dalia, you can make your declaration online up to two days before your departure date, completely free of charge.

Free ATMs in Paris and in France

While BNP Paribas is your best bet, other banks in France do not generally charge fees for ATM withdrawals either. To find ATMs in Paris and in other parts of France, see these locators: BNP Paribas ATM locator. Crédit Agricole ATM locator.

Is it better to use debit card or cash abroad? ›

Advantages of an overseas card

The main advantage of using a debit or credit card overseas is that you won't pay foreign transaction fees every time you spend. While many also won't charge fees for cash withdrawals, you will still usually be charged interest from the date of the transaction if you use a credit card.

You can use your card to withdraw foreign currency (e.g. Euro, US Dollar) at some LINK ATMs. To find your nearest foreign currency dispensing ATM you can check the Cash Locator and do an advanced search for ATMs dispensing foreign currency.

Use a travel credit card instead

Where possible, like in big cities in developed countries, use a travel credit card that doesn't charge foreign transaction fees. That way, you can skip ATM fees altogether.

Yes, you can walk into the Post Office and get euros without ordering them beforehand.

All Euro ATM withdrawals are fee-free, giving you free rein to travel the Eurozone. Outside of the Eurozone, ATM withdrawals cost 1.7% per withdrawal.

Monday is therefore the best time to sell dollars and buy euros with a 2-3% lower total exchange rate. On the flip-side, Wednesday and Friday are the best days to sell euros and buy dollars.

Post Office have numerous ways to get euros for your trip abroad. With our Click and Collect service, any orders placed before 2pm on working days to allow you to pick up your euros within 2 hours from your nearest participating branch.

You can buy euros with dollars at major banks like Wells Fargo and Bank of America. You will need to be a bank customer already and can order euros online easily.

European travelers should always have some cash on hand; getting it from an ATM abroad is usually the easiest, most advantageous way. If you need cash from an ATM, it's usually better to use a debit card, because credit cards often charge a high interest rate for a cash advance.

How do you avoid exchange rate fees? ›

Many international travelers encounter foreign transaction fees while making purchases or withdrawing cash from an ATM in a foreign country. The easiest way to avoid a foreign transaction fee is to use a debit or credit card that waives foreign transaction fees while traveling abroad.

Research shows that in most cases you can save by opting to spend in the local currency. For example, that would mean choosing euros in Spain or dollars in the US. When you choose to pay in the currency of the region or country you're visiting, Visa or Mastercard will set the exchange rate.

While some merchants in Europe may accept US Dollars, it is not widely accepted and you may receive a poor exchange rate. It's recommended to use Euros when in Europe.

The short answer is: Always pay in the local currency (Euros), which allows your bank to set the exchange rate, and it will always be a better option. If you choose to pay in dollars, you get the worst exchange rate from the merchant.

Banks and credit unions are generally the best places to exchange currency, with reasonable exchange rates and the lowest fees. Here's how financial institutions — and a few other places — can help travelers exchange currency.

Buy currency before you travel.

Doing so gives you time to shop around for the best rate. Plus, when you arrive, you won't have to immediately find a bank or currency exchange. Do some research ahead of time to see if US dollars are widely accepted at places you plan to go to.

Because of high currency exchange fees, you should exchange currency before traveling and know where to go to save on the fees once you are abroad. Read the tips below so you can exchange your money at the best rates while saving money on your international trip.

The best thing you can do for exchanging currency at a good rate is to plan ahead. Then, you can take out foreign currency in advance at your bank or credit union at a decent rate and with a lower transaction fee.

Don't go to your bank and exchange all your money before your France or European trip. You will probably pay a higher rate than necessary, and you don't want to be running around with all that cash in your wallet. Don't exchange money at the bureau de change or such at the airport or in tourist areas.

Use your credit or debit card when possible

Fees aside, using your credit or debit card is probably your safest bet for getting an exchange rate that's closest to the market rate.

What is the cheapest way to buy euros? ›

What is the cheapest way to get euros in the US? You'll need to compare exchange rates and fees for your bank with currency exchange services such as CXI. But a travel card such as the Wise international debit card can be a cheaper option, offering low fees and fairer, margin-free exchange rates.

Exchange with your bank before you go

Instead, call ahead and order foreign currency from your bank, which is usually available to pick up within a couple of days. They'll even deliver it to you, and though you might still pay a fee, the exchange rate will be much better than at the airport.

A good rule of thumb, though, is that, on average, you should plan to carry between $50 and $100 per day in the currency of the country in which you're travelling. As with all things, research is your friend here. Understand where you're travelling and what the local customs regarding cash are.

While credit cards are easy to carry and more secure than cash, you should always have some local cash on you when traveling. It's just good sense. Besides the fact that some local shops and vendors won't accept credit cards, having some cash provides a safety net in case your bank shuts off your card for any reason.

All in all, Tuesday, Wednesday and Thursday are the best days for Forex trading due to higher volatility. During the middle of the week, the currency market sees the most trading action. As for the rest of the week, Mondays are static, and Fridays can be unpredictable.

The forex market runs on the normal business hours of four different parts of the world and their respective time zones. The U.S./London markets overlap (8 a.m. to noon EST) has the heaviest volume of trading and is best for trading opportunities.

Waitrose has the best Euro rate right now at 1.144. You'll need to order online to guarantee this rate; it may be lower if you turn up unannounced and buy over the counter. You can buy your euros online and collect them from your nearest Waitrose travel money store if you don't want to wait for home delivery.

U.S. dollars are not accepted in most establishments, though some hotels, shops, and restaurants may accept U.S. dollars at an agreed upon exchange rate. Coins: 2€/1€/50 cents/20c/10c/5c/2c/1c The Euro is divided into 100 cents, or centimes.