I am going to France for 3 months, and want to know if I should have credit/debit cards/travellers checks?

Question

I am going on an exchange, and am not planning on taking cash for all three months. I would also like to know if I should exchange the money here, or over there, seeing as i will have access to a bank through my host family. I would also like to avoid as many bank costs as possible.

Answer 1

If you're going to be in, or close to, France's larger cities, I'd suggest purchasing a prepaid travel debit card that works just like your ATM/debit card works. The advantage to the prepaid card is security - it is not connected to your bank account. The disadvantage is that there is a fee to activate the card. I used one of the cards in Italy at ATMs and for purchases and had absolutely no problems with it. I liked carrying a card that protected my checking account and didn't mind paying for that security.  Bon voyage!

Answer 2

Credit cards are widely accepted in France so you should have no problems using them :) The trick is if you want to avoid bank costs while withdrawing at the ATM is to take a bulk sum out instead of using the ATM 5 times to take out tiny sums (as there will be charges for withdrawals). Travellers cheques are widely accepted in big cities, not sure about smaller ones though. Have a safe trip

Answer 3

credit/debit because travelers checks don't work at almost every store and resturant.

Answer 4

I'm french and live in France, so I recommends to you the credit card (mastercard), it's more practical and more reliable. But what is sure, it's that you'll have some charges (it depends on the banks). travelers checks are outdated and not so practical, they don't work everywhere (just in some hotels or restaurants) and they can take charges with this mode of payment.

But see with your bank, maybe they have something to propose to you. Bon séjour en France!

Answer 5

Credit cards/debit cards are the most practical.

Note that when you use ATMs, use your debit cards only, to avoid cash-advance penalties. Also, I would pass on the traveller's cheques, they can be a headache when you lose them - besides, the debit card/ATM/wholesale exchange rates are MUCH better then the amount you would get at these offices...

Answer 6

Travellers checks are very old school nowadays, and the rates are terrible. Bring a Visa or Mastercard (AmEx is not accepted in most places, except tourist-oriented businesses). I've heard that Capital One charges the lowest fee (1%) on foreign currency transactions, but don't know how their overall exchange rate is.

As you're a young student (I'm assuming), you're entitled to discounted or free checking at many banks. Some big banks, like Bank of America, have relationships with certain foreign banks, allowing you to make unlimited withdrawals in foreign countries with no fees whatsoever. For a 3 month stay, it's worth asking your bank about this, and if not, applying for checking at another one that offers this. Chances are you won't get mugged, but this is way better than feeling nervous every time you withdraw a large wad of cash to minimize withdrawal fees. If you bring an ATM card, ask your bank to give you a plain vanilla ATM card with no debit card features (i.e., can't be used except at an ATM). You'll have your credit card to use at stores, and thieves won't be tempted to use your ATM card.

In case you lose your wallet or have money problems, you could probably rely on your host family to help you out. But otherwise, I'd recommend you have a 2nd credit card and small store of cash at home to tie you over. It can take weeks for a new credit card to be sent to your home mailing address, then to France, and you don't want to be without means for that long.

Have fun on your trip!

Answer 7

visa credit cards work everywhere !

Btw its nice to see youre going to france on an exchange ! Tell me how you liked it :D when you get there i'll add you to friends im plannin on going there too.

Answer 8

Using a credit card for restaurants, shopping and museum entrances etc., will give you the best no fees exchange rate.  Otherwise just to have cash on hand, use a debit card from your home bank assuming it has a Mastercard or Visa logo. There are atm's everywhere in France.  You can use any bank's atm. Its the best way and cheaper than travelers cheques which are a waste and inconvenient.  Don't bother bringing any currency with you as you will get a c**p rate that way.  Credit card charges no exchange fee, but using your atm will charge a small exchange everytime.  Still its the best bet.  Cheaper than exchanging cash. Let your credit card company and bank know you will be abroad for awhile as they sometimes freeze accounts if they suspect fraud from a sudden overseas usage.