![]() In the case of France, this is Euros (EUR).ĪTM fees can be confusing to understand especially if communicated by a machine in a foreign language. The long story short: always choose to pay in the local currency. The exchange rate they will charge is not only higher than the market rate but is also often significantly worse than a traditional bank’s exchange rate (we’ve seen margins of up to 8% and 10%). When withdrawing from an ATM, this fee is charged by the ATM operator. ![]() When making a purchase at a local merchant, this fee will be charged by a card company like Visa or Mastercard. 3 - Dynamic Currency Conversion (DCC)Ī DCC is a special kind of currency conversion fee that allows you to complete a transaction in your home billing currency instead of the local currency - and this fee is always optional. Euronet will often exchange your currency at an even weaker rate. Many French ATMs at banks or the post office will exchange your currency at an exchange rate 1% weaker than the real mid-market rate. Instead, they may do the math at a rate of 1% or 3% higher than the market rate. The local provider - who is taking your pounds, for example, and giving you back Euros - will rarely use this rate. using your debit card linked to your British bank).Īt any given time, there is a so-called “ mid-market exchange rate” - this is the real exchange rate that you can see on Google. This hidden fee applies when travellers spend with non-local currency (i.e. Have a look at locations here:Ģ - Currency Conversion Fee, or ‘Exchange Rate Margin’ Post office ATMs in France, like French banks, do not charge withdrawal fees. To find ATMs in Paris and in other parts of France, see these locators: While BNP Paribas is your best bet, other banks in France do not generally charge fees for ATM withdrawals either.
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