IS it better to buy euros in the US or once i get to france?

Question

im going to france and someone told me its better to buy the euro in the us because they charge more to do it in france, becuase of conversion fees...also i plan to take travelers cheques are they easy to cash there?

Answer 1

Get them where ever it is that gives you the best rate.  If I were going to France I'd definately take along at least some pocket change in Euros to start off.

Answer 2

The fee for exchanging traveler's checks is higher than that charged for ATM transactions.  It might be good to carry a small sum in case of emergencies (like not being close to an ATM).  

While you may save money on conversion buying Euros in the US, you're going to have to pay it when exchanging any extras back to USD.  

I always purchase about 100 Euros before leaving, so as to have cash on hand when I land, and then get all the rest of my cash from ATMs.  If you take out the maximum with each transaction, you save on conversion fees.

Two hints:  Let your bank know you're traveling, so they won't put a notice on your account.

European ATMs only take four-digit PIN numbers, so if yours is longer, change it to four.

Answer 3

The best thing to do is use your cc anytime you can as you get the best exchange rate, but to avoid change fees to get euros go to a cash machine once there and take out cash, it will come in the local currancy with no fee except the usual for takin out cash, a buck or two.  Is much cheaper!

Answer 4

It is absolutely NOT better to buy Euros in the USA.  American banks give lousy exchange rates even if they may charge a low or no fee for the transaction.

Take  American Express TC's and have them denominated in dollars. Change them for Euros at the American Express office in France. If you are an American Express card holder there is no fee and the exchange rate is reasonable.

Do not expect to be able to pay for things directly with TC's. Almost no one wants to be bothered with them and if they do take them they will give you a miserable exchange rate.

However, you want to do as little personal money changing into cash euros as you can. Therefore, pay for everything that you can with a credit card and specifically a Capitol One credit card.

Credit card companies get much better rates of exchange than you ever will. The difficulty is that many credit card companies charge outrageous fees for each foreign exchange transaction. Capital One gives the best deal on this.

Answer 5

Let's break it down:

(1) It's better to buy Euros in the U.S. from your bank.  It's true that they charge you more to buy them in France.

(2) Travelers' checks are easy to cash in Europe if they're Visa or American Express -- any other type and I have no idea...