Suggestions for least expensive way to draw 5,000 euros (cash) from my bank/credit at one time

Easy. Wire transfer.

Ask the owner if he/she will accept a bank draft in euro. If so, open an account with XE Trade . Money will be taken by electronic transfer from your checking account. You can choose from four ways to get the money to the owner. Here are your three cheapest options:

1. Have a bank draft in euro made payable to the owner and sent by regular mail directly to Paris.

2. Have a bank draft in euro made payable to the owner but mailed to your home. Hand it to the owner when you get to Paris.

3. Have the money transferred into the owner's bank account. (This is not a wire transfer.) You'll need to get the appropriate account number from the owner.

There are no fees for options 1, 2, or 3. All you will pay is a conversion rate that is only slightly higher than the international rate on the day the transaction is initiated.

Or you can have XE Trade do a wire transfer. This is fastest, but there is a fee.

For security reasons it takes a little time to set up an account, but things go swiftly and smoothly after that.

Or you can have your current bank order €5000 for you, it will be fedexed to the bank in a couple of days, you go pick it up and hand it to your apartment owner in Paris. Your bank already has all the info needed., takes 10 minutes total of your time. You can get up to $10000 this way if you want to request a little more for your first day or so. I've done this several times.

To each of you, thanks very much. You have introduced me to things I did not know existed.
dbhusker

I would make VERY very sure everything is ok with the unit before I handed over this kind of cash. I would not pre transfer that much cash. You would have no protection If something went wrong. Nor would I travel with that much cash. I would tell the owner you can bring a check in Euros as described above or pay him over the course of your stay. If the objects to the check idea it would raise a lot of red flags for me.

Traveling with a large amount of cash in this case would involve a very short time period, a secure money belt would do the job for the time carrying that amount of cash would take. Lots of apartment rentals require payment up front - this one is asking for payment upon arrival. so I don't see a red flag here.

I agree with Zoe that it's not a red flag. I wouldn't wire transfer up front. I'd get the cash from my bank here and take it with me, it's only for the plane and then to get to the apartment, shouldn't be too much of a risk as long as you secure it. Don't hand it over until you inspect the apartment and are satisfied.

Zoe and Nancy are right. It is not a red flag to pay cash on arrival. With that much money at stake I would want to inspect the property before handing it over. Get the money before you leave, put it in a money belt until it's time to pay, and you should be fine.

I routinely pay this kind of money before I ever even see the place. This is how most rental business is done. Giving it on arrival actually gives you some protection. You can know the place exists, that the toilet flushes, that the refrigerator is working and the door locks and the bed is not broken before handing it over. I am careful and have not been cheated in over 60 international rentals, but it is always a possibility when booking sight unseen as we usually must. I love it when I don't have to pay until arrival which has happened a handful of times.

When I have had to have this kind of money on arrival, I have arranged for my bank to acquire it for me in the US; it takes a couple of days. They usually give a fairly reasonable conversion rate for this large a transaction. Absolutely transport this in a money belt worn under your clothes i.e. a body safe that is not visible on observation.

These several additional replies have been helpful. I appreciate you all taking the time.

I should add that the landlord has suggested one option would be to deposit the payment into his bank account in the US to avoid PayPal fees or the risk of carrying cash. I like your ideas better.

I wouldn't even think twice about traveling with 5 or 6 thousand Euros put it in a money belt if it makes you feel better. It's not like anyone will even know you have it as I am certain you would not flash it around! I travel with a purse - it has thick leather straps, I carry it on my shoulder between me & my husband when walking and rest my hand on the top of it. We have been to Paris & beyond 8 times - thwarted 2 pickpockets in Rome once & one on a train in Cannes. Pickpockets like easy targets - people who are not paying attention. Be smart & alert you should have no problems.

I rent apartments all the time in Europe. I always make a deposit via paypal, and bring the balance in cash. My husband and I split it up, each of us carry half. If you taxi from the airport to the apartment, it greatly reduces the risk of being pick pocketed. Most of the time people are pick pocketed in crowded buses, tourist sites, etc. I use a neck wallet and he uses a money belt. You're 'rid of the cash' pretty much on arrival at the apartment.

I appreciate these responses very much. <3