How to change money?

How to change money?

Changing money when you are not used to it can turn out to be a real headache: between the different organizations or companies that offer this service, you can quickly get lost! In addition to that, you can exchange your currency at different times of the trip, which does not facilitate the choice. Finally, no one wants to lose by the change: you have to look for the most economical technique. In this article, find the different options available to you.

Where to exchange money?

The change office

You will find exchange offices in all cities in France, especially around tourist areas (stations, monuments, department stores, etc.). You can immediately exchange one currency for another, which means that you will not be able to use your credit card (so remember to have cash). Foreign exchange bureaus charge a commission on exchanged currencies that they are free to set, resulting in large variations from one bureau to another.

You have to keep an eye out because some scams are common there: fake banknotes slipped into the bundle, banknotes folded in half or disadvantageous calculation. To avoid these scams, we advise you to always inform yourself in advance about the course and aspect of the currency you want to obtain, to do the calculation yourself with the exchange rate proposed by the office and finally, to recount the banknotes one by one, taking them out of the bundle. In all cases, ask for a given sum, how much you will recover in the desired currency.

 

The bank

The bank can also offer currency exchange. However, this is not its core business, so you will often have to order. The bank will take a variable percentage each time on the amounts changed, and often a large fixed commission. If you choose this option, it will be more advantageous to withdraw in large sums than to withdraw small amounts more often.

 

 

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Internet

You can also choose to order your currencies on the internet, which you would receive after making an online bacaire card payment or wire transfer. Obviously, be very careful with the selection of the site and be certain of its reliability. Even if the option seems advantageous in terms of cost, it will later be necessary to add delivery costs and perhaps insurance in case of loss or theft. Also check the current rate and make simulations on several sites.

 

The airport

You can find exchange offices directly at the airport, but we recommend that you do not choose this option if possible. In addition to the time it can take you (at the risk of missing your plane), the rates and commissions charged are often higher than if you were to go away from the airport to go to a currency exchange office.

 

Use only your credit card: an option without change

Be aware that for your withdrawal from a foreign distributor, you may have to pay two or three taxes: a very low percentage based on the amount withdrawn, a fixed amount taken by your bank (a few euros) and finally, a fixed commission charged by the distributer. Again to save, it is better to withdraw less often but larger sums so as not to pay the fixed costs too many times. Also find out about the banks in the country you are going to, some may not charge for withdrawals.

When paying by card, the fees vary greatly from bank to bank. You will always have to pay a percentage of the amount, sometimes capped, sometimes with a fixed fee of € 1; you will need to check with your bank before leaving. That said, even when your bank charges a fixed fee for card payment, they are much lower than if you were withdrawing money from an ATM.

We also advise you to notify your bank in the event of travel abroad, so that it does not suspect fraudulent withdrawals or payments, and blocks your card.

When to exchange your currency?

The answer to this question will depend on many factors (the exchange rate, the way you travel, your preferences…); But a good solution is to obtain currency before departure for your daily purchases and then, for example, during your trip to use your credit card to pay for main purchases such as hotels, transport, activities ...

 

Conclusion

If you now know the main options available to you for changing money or paying