I'm unable to find a current thread on this topic. I can't decide what to do. I'm not sure if I should get Euros in advance of my trip in September just so I have some when I get there, or if I should just use an ATM when arriving in Paris. I've also looked into getting a prepaid debit/ATM card. If I do the latter, I'll be paying about $80 to load the card with $1900. I'm not sure on the fees from Bank of America at ATM's. I believe there's a $5.00 charge for using the ATM, then a 1% conversion fee. If this is the case, and I use an ATM say 5 times while I'm in Europe, that's about $50 in fees. Which would be cheaper than the prepaid card. And if I order Euros from my bank I'd be paying a higher exchange rate. Any advice would be greatly appreciated. I hope I've made sense.
Posted by
Wyckoff, NJ, USA
7889 posts
Here is the BOA page you need: http://www.bankofamerica.com/deposits/checksave/index.cfm?template=lc_faq_ATM#qn45 , or search for "Global Alliance". If you are going to mostly those listed countries, do not buy Euros at home. This is a great deal, almost worth having an account at a politically unpopular mega-bank (!) I've been doing this for years. Just make sure you have a 4-digit PIN, that you put money in your default (probably Checking) account, and that you use your ATM card in the US within a few months of leaving the country. You can adjust your maximum daily withdrawal at BoA online.
Posted by
Saratoga, NY, USA
75 posts
I used my B of A card for cash at BNP Paribas ATMs throughout France and had absolutely no problems. They are easy to find and my card always worked even with my 6 digit pin.
Posted by
Lakewood, Colorado
19274 posts
Check with BofA. At least at one time they were supposed to have a reciprocal agreement with a bank in France (PNB Paribas?) and there were no exchange rate conversion fees nor ATM usage fees. And, make sure you know all of the fees associated with the prepaid card. Do they charge an exchange rate or ATM fee? And, can you get all of your money out when you're done? Is the card loaded with $1900 IN EURO. If not, there is probably a conversion fee when you use it. If it is, there is probably a conversion fee when you load it.
Posted by
Bloomington, IL, USA
9371 posts
Shop around, particularly at credit unions. You could do so much better than Bank of America, with its per-use charge! I have two ATM cards from credit unions. One charges me absolutely nothing for currency conversion (they eat the 1%). The other charges the 1%. Neither charges a per-use fee. I also carry an ATM card from Ally Bank, an online bank. They also charge the 1% but they refund any ATM charges anywhere (though you won't encounter them in Europe, no matter what bank you use). No one has yet reported a prepaid card that is cheaper or more convenient than just using your regular ATM card (provided you find a less-expensive bank or credit union). Take a few euro with you as a starter, if you want, but otherwise skip the prepaid card and go with an ATM card.
Posted by
Bloomington, IL, USA
9371 posts
This question is also posted in the North section of the helpline. There are other answers there, as well.
Posted by
OP
Alexandria, VA, US
12 posts
Thanks for all the replies, I've done research and the BNP paribas in paris is connected to BofA with no ATM fee, just conversion of 1%. Yes, Nancy it is listed on the North as well, because I'm also going to Ireland. Didn't know if people might have different views from Paris to Ireland. Just to let you know.
Posted by
Keizer, Oregon, USA
588 posts
No BOA fee at Paribas -- Global Alliance Bank. There is a conversion fee. Four digit pin not a problem. Every town has a Paribas but sometimes not the easiest to find. Take our enough money each time to make it last a several days. Are you thinking 1900 in dollars or euros? I was in France including Paris in May for three weeks. France is expensive.