Paris/France 101

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Money Matters

The Euro

There are eight Euro coins, denominated in 1, 2, 5, 10, 20, and 50 cents, and 1 and 2 Euros.

There are seven Euro bills, denominated in 5, 10, 20, 50, 100, 200, and 500 Euros, each having a different color.

In France , prices are still normally given in French Francs and Euros, but only Euros are accepted as currency. However, if you've been saving your leftover Francs from a previous trip, don't fret. La Banque de France will change French Francs to Euros, free of charge, for the next few years (coins until 2005, bills until 2012).

Getting Cash

Traveler's Checks vs. Credit and ATM cards

The days of traveler's checks are practically over. Automatic Teller Machines (ATMs) and credit cards have replaced the need for bringing traveler’s checks abroad. ATMs are found throughout France and are as easy to use as their American counterparts. Simply put in your card, follow the directions (available at many machines in English), and you can withdraw Euros from your account at home. You'll receive much better bank rates than you would if you tried to exchange traveler’s checks, even with the bank charge for conversion. If you decide for some reason to use traveler’s checks, keep in mind that exchanging them can be very time consuming: most businesses will not accept them, even if they are in Euros, and exchanging them at a bank requires waiting in line—after you find a bank that handles traveler’s checks (not all do).

If you have never used your credit card or ATM card outside the United States, be sure to call your credit-card issuer and bank several weeks before you leave to verify the following:

First, make sure that your card is enabled to work abroad. Credit-card companies will often disable international transactions to help reduce credit-card fraud. A quick call is all it takes to make sure your card will be accepted abroad. You don't want to find yourself in Europe unable to use your credit card!

Second, if you plan to use your credit card to withdraw foreign currency from an ATM, you will need a Personal Identification Number (PIN). If you do not have a PIN already, call your credit-card company and request one. Most European ATM machines will not accept PINs longer than four digits, so ask for a four-digit PIN. Be sure to do this several weeks ahead of your trip, since your PIN will normally be mailed to you

As at home, never carry your PIN with you and if you must write it down, make sure it is in a secure and unmarked location.

Also, it's a good idea to leave a list of your cards with contact numbers at home, in case you need to have them canceled.

If you do lose your card you can call the following 24-hour services, which have English-speaking staff:

American Express: 01-47-77-72-00

MasterCard: 01-45-67-84-84

Visa: 08-36-69-08-80

If you must exchange your home currency or traveler's checks for cash, you can by all means do so. Currency exchange is offered in most banks and post offices, at airport, and even at some hotels (although hotels often offer poor rates). You'll also find numerous currency exchanges offices (Bureaux de Change) in Paris . Be warned that many charge hefty commissions, so it's best to shop around.

You may want to order a bit of cash from your bank at home, to tide you over until you get acclimated. That way, if you'd like to buy something when you first arrive you won't need to go looking for a bank machine. Many banks offer this service, as does American Express and Thomas Cook.

Credit Card Acceptance

Visa and MasterCard are widely accepted in France . American Express is becoming more accepted, but there are still many places where it is not, so be sure to ask ahead of time. Many businesses will also not accept not accept credit-cards purchases for amounts under 15 Euros, and some smaller business operate on a cash-only policy.

French cards are embedded with a small micro-chip, called a puce, that requires a PIN code, whereas most other countries still use the magnetic strips, which produces a slip that the customer signs. Although both cards work in France you should be aware that if your magnetic strip becomes de-sensitized, businesses in France may not be able (or willing) to call to get an approval (as they will often do in the US) and may tell you that the card has been rejected, when in fact it is merely the strip that is faulty. To be safe, carry a back up.