Travel to Europe- Currency Exchange??

[CGE333]

My wife and I are getting ready for a trip to Europe. We leave next week and will spend a few days and nights in Paris and then go to the Greek Island of Mykonos before heading back to Paris and then back home.

Does anyone have good knowledge of where to exchange US dollars to Euros where we won't be ripped off? I imagine doing it at the airport would not be as good as exchanging it elsewhere?

 

[Ingeniarius]

When I go travelling, I change some money at the bank at home so I will have some cash beforehand. The rest I do over credit cards, which pay for the gross of the bill and also some cash withdrawals at foreign atms which has always worked. Before getting cash though, go inside the bank and ask how much surcharge is (usually about 5 EUR for withdrawals over 100 EUR, so get a lot) and how the exhange rate is, for which you will have to check the paper at home beforehand to know what a good rate is. It is important to do your homework.

Some credit cards are automatically insured in case of theft abroad, so pay as much as you can with them. The exchange rate will be that of your credit card company, so check that again.

American Express Traveller's Cheques are also insured and can be exchanged without surcharge, but only at the Amex offices, which you won't have everywhere. If you don't exchange them at the office you will get ripped off.

In short, you will always pay for exchange, but you can limit your costs if you play it smart. Bring back some cash so you won't have to exchange again for the beginning of your next trip.

Bon voyage!!!

 

[Nighthawk]

Have you been to Paris before?

 

[CGE333]

I have not been to Paris before. My wife has.

 

[SmoothTalker]

Generally your best bet for a good rate will be your local bank, definitely not at the airport or near tourist sites.

Though credit cards are accepted almost everywhere in Europe now, and you get a good rat there without the hassle, so just pay with your credit card whenever you can.

PS: Don't forget to phone your card company ahead of time and tell them where and when you are traveling. Otherwise it's very likely they'll assume your card has been stolen and cancel it at some very inconvenient time.

 

[Bible_Belt]

Although I have not been to Europe, generally speaking, hotels are known to give the worst exchange rates.

 

[Centaurion]

Banks and hotels don't offer the best rates. I'd go for FOREX, they usually offer better rates than most banks.

 

[SmoothTalker]

You mean actually buy the currency on the open market? Yeah that would give you the best rate, but I was under the impression there was a pretty high minumum amount to buy there.

 

[Centaurion]

No.

http://www.forex.no/

Don't know if they are situated in France though.

 

[Centaurion]

Double post.