I've recently booked an apartment rental in Paris for a week in Sept 2010. I've sent a deposit of half the rent via wire to hold the reservation. However, the rental agency requires cash to pay the balance upon arrival. I don't want to carry that much cash with me while traveling, and my ATM card has a limit of $300/per day in withdrawals. As my balance due on the rent is considerably higher, I've considered using TC's in euros, purchasing them before my departure from the US. As an added incentive to do this, I'd like to take advantage of the currently favorable exchange rate. Having read some disadvantages from the 2007 discussion on this site, I'm wondering if anything's changed regarding euro TC's.
Posted by
Camarillo, California
3149 posts
Considering that you will have to pay a fee to buy them here in the U.S. at a pre-determined exchange rate that will more than likely not be all that favorable, and then (I think) have to exchange them at a bank for another fee in Paris, they might not be such a convenient way to get currency in the long run.
I'm also wondering whether or not it's easy to make purchases with Euro TCs because of merchants' suspicions of them being counterfeit.
I do recommend that if you decide to use them that you make sure you get AMEX TCs, and not something from a lesser-known/trusted source.
Posted by
OP
Denver, CO
2 posts
Since posting, I've heard from several people that most financial institutions (though not mine!) will raise ATM withdrawal limits upon request. Also, since the Paris rental agent says they'll accept TCs for payments due, I'm assuming (though I guess I should check) that I won't be paying a service fee like I would if I took the TCs to a bank for cash. Guess I need to do some more checking on that!