Paris Travel Forum

Hi,
Do you happen to know what the currency exchange commission fee is right now, in regards to converting from the dollar to the Euro?

Thank you....

The commission depends on the bank; for the "offcial" rate: www.oanda.com

Thank you Redang........

Forget about the fees. The exchange is a killer. Everything is expensive, coffee, food especially. Get ready to pay the equivalent of about 4 to 6 dollars per cafe creme. And beer, whew. I was throwing away 6 euros a beer at the cheapest. But it was worth it, Paris is awesome. Anyway, Whenver I took out from ATM (300 euros at a time), i was charged 5 dollars by my bank and nearly 5 dollars by the european bank (I was using a PNB Paribas atm)

Thank you nyceagle----

I had a feeling I would be paying about that........
Very helpful

Today May 5,2008 it shows the rate at $1.54643 US for 1 Euro. If I were in Europe and took either of my ATM cards (Debit cards) to a ATM, it would cost me 1% per transaction and I would get the best rate of exchange. I have Compass Bank for one card, and Washington Mutual for the other. One is Visa, and the other is Mastercard. I carry both for safety in different places in my luggage or on me.

If you use your bank debit card, you should save a few euros. The credit card companies love to add fees. Many banks are kinder. We have no fees for either of our debit cards, just the horrible current exchange rate to deal with. I have a bank debit card and my husband has a small local credit union debit card. Both work just fine. We only use our credit cards for actual purchases.

I'm told the exchange rate was worse in 1974 . . . but that doesn't make it seem any better. LOL

Have a good trip.

Like hey have already said the commission rate is the loeast of your worries.

I suggest you call you bank and tell them where you are going and find out EXACTLY what they will charge you for extracting cash at the ATM and for making purchases.

Paying $7 and $8 for a simple Coke was outrageous. But then again it is Paris!!!

Using your ATM card is the best way to "change money" (i.e., get cash). For sure. You'll get the best exchange rate that way and minimal fees from your bank.

ATM has pros: You don't need to carry much moneay, you only withdraw when you need; cons: the commission you have to pay to your bank. However, with credit cards, you don't pay commission and you get good rates although unfortunately you can't pay every single time, for example, some goods.