Best Place To Change Currency? (hotels, Paris, airport, France)

[sponger42]

What is the best place to exchange currency? I imagine the Airport is the absolute worst, but what about places near the border if you travel overland? Near the harbors if you travel by sea?

Or is it best just to try to exchange currency in large banks in big cities?

I'm assuming that you'll get the best rate if you carry your current currency into the country, get away from the border/airport, find a bank in a large city, and exchange it there. Maybe I'm wrong? Any suggestions?

[stock66]

We get the best rate by withdrawing at an ATM, only paid an ATM fee. Banks all wanted a service fee.
Won't work in some countries, depends where you are.

[Bob The Builder]

I have been all over the world. Use the ATM. Try to pull out your maximum. Do not carry too much. It is too risky. The airport ATM is fine.

In this day and age, what would you expect a money changer to do with your currency or some silly traveler's check?

[sponger42]

Huh! An ATM? Really? Are you sure they didn't tack on a percentage or give you an unfavorable exchange rate?

For my soonest trip, I'll be in Taipei, so the ATM option will probably work.

[Lillietta]

ATM is cheapest. Get at least another card that will also work. Has to be drawn from checking, not savings.

[sponger42]

Thanks for the tips! The ATM option sounds good since I have two different bank cards from different banks. At least one of them ought to work. I hope!!!

[nitram]

You get your best rate when using your credit card for purchases.

[DannyBanany]

If you are in the United States try a Wells Fargo or Bank of America. They are the nation's largest banks and they have the currency on hand.

Or exchange it at a large bank in the city you are staying in. I went to Paris and exchanged at Banque Paribas. It's France's version of Wells Fargo.

[Bob The Builder]

Originally Posted by DannyBanany

If you are in the United States try a Wells Fargo or Bank of America. They are the nation's largest banks and they have the currency on hand.

Or exchange it at a large bank in the city you are staying in. I went to Paris and exchanged at Banque Paribas. It's France's version of Wells Fargo.

Now exactly how much are you going to change? 1000, 2000, 5000? You are now a silly traveler with a money belt. Complete the look with dark socks and hard shoes and a colorful baseball cap. How much do you think Wells or BNP is going to charge you to HAVE SOME HUMAN BEING exchange your currency for some piece of paper? Get serious, this is 2008! USE THE ATM OUTSIDE.

We went on a road trip to Barcelona last year with some Italian friends who did not trust the ATM. They had 1000 in Euros. Long story short. purse snatched.

The ATM charge is a fixed fee. I pay 2 dollars per 250 Euros. Never carry more than that. Over the years I have tried all different ways to get money over here. The best is to help the local buy stuff from the US and have them reimburse in local currency. At dinner, hotels etc, you pay with credit card and the local (or co traveler who bought local currency at Wells) pays you in local currency.

I was in China few years back and I put all the tourists' purchases on my card and they gave me local cash.

CapitalOne does not charge an FX fee on credit card charges that you make abroad. MBNA and AMEX does. 1 to 2 %. They just started charging in 2006.

Please note that not all ATMs are functioning perfectly. If you have a problem where it does not dispense the cash, but says "thank you." Note the time, location and amount and dispute it with your bank. It happened to us in Morocco in 1999 and once here in Italy last year. Both times the issue was resolved favorably. Also, do not be surprised if the ATM is out of money. This happened to me several times in Vietnam last year. Good travels.

[Bob The Builder]

Originally Posted by sponger42

Thanks for the tips! The ATM option sounds good since I have two different bank cards from different banks. At least one of them ought to work. I hope!!!

I traveled through China and Tibet back in 2000 for two months. ATM worked most of the time. It should be better now. Taipei should be easy.

There was an issue several years ago (2001) about how many digits you could have as a PIN number for Intl. Transactions/ ATM access. The correct number is 4. If you have more than that, call your bank and check to see if your ATM will work or to change your PIN.