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01/03/2010, 9:29 cell Joined on 23/05/2007 Posts 12 problem with French Visa card in the USA Bonjour everyone, A few months ago I moved to a new job in France and have to go to the USA and Canada quite frequently. So far I have been using La Poste Visa in France (not Premier account) but after checking my bill after recent trip to the USA found out that their exchange rate is ridiculous and they charge you for any transaction a minimum fee of 2$. I got used to use Visa all the time in France and did the same in the USA but lost lots of money on that. So, I would like to ask if someone can suggest another French bank or solution to have a better exchange rate and maybe no transaction fees in the USA?.. Actually, I just had the same problem with money transfers to and from the USA using La Poste recently. They claim that they have a very low fee for transfers but they really get lots of money on a very bad exchange rate. For example, my colleagues sent me 2000$ and payed just 25$ for that, but I got only 1300 euro instead of 1450 euro (official exchange rate). I will be very grateful for suggestions to minimize my losses during money transfers between US and France?.. Thanks a lot in advance !!!    Report

01/03/2010, 20:08 Payrac-man Joined on 28/11/2005 Gloucestershire&Payrac Posts 75 Re: problem with French Visa card in the USA Hi Open an account with Bank of america or another bank and transfer money with Hifx or similar. you then have a debit card and chequebook Live long and Prosper    Report

02/03/2010, 7:59 cell Joined on 23/05/2007 Posts 12 Re: problem with French Visa card in the USA Do you mean to open a bank account in the French branch of the Bank of America or while in the USA (in the last case I guess I will not be able to do it since I am not a US resident?). If in France, will this account be in $?.. But do they have a good rate to convert from $ to euro?.. Thanks!    Report

02/03/2010, 8:34 LangeHaas Joined on 29/01/2010 Posts 2 Re: problem with French Visa card in the USA I actually looked into opening a US bank account a few months ago, and to make a long story short: you have to be a US resident (has to do with the usual anti-terrorism-stuff). PO Box will not work either. Local branches can't do it either. Maybe it's possible in Canada? Do you go there for your job? If so, maybe your company can get you a card? You can open a US$ account at a major bank in France. This way you will not lose money on the exchange rate, but they do charge a hefty transfer fee (I paid $60 at the US bank and $200 locally once). Cheapest way is to bring cash and deposit it yourself.    Report

02/03/2010, 10:03 Russethouse Joined on 23/08/2004 Forum Moderator Posts 12,125 Re: problem with French Visa card in the USA  I opened an American bank account in 2004, there is more paperwork but I didn't have to be a US resident. I was there when I opened it so they saw me in person. www.quimperclub.org 99    Report

02/03/2010, 15:44 minnie Joined on 04/01/2008 Lot et Garonne Posts 133 Re: problem with French Visa card in the USA How about a Caxton fx pre-paid currency card. You load it up before you go on your trip with the currency you want and just use it whilst in America. Have a look on Caxton fx website.    Report

02/03/2010, 20:42 Pads Joined on 24/05/2006 Cornwall/ Montagne Noir Posts 3,718 Re: problem with French Visa card in the USA Open an account with the HSBC they dont charge for using in USA and the exchange rate is good , I have a dollar euro and pound accounts with them so I can transfer money between them when the rate is good aswell for no charge Dirty Tom =^..^= Where ever I lay my paw thats my home    Report

03/03/2010, 8:09 cell Joined on 23/05/2007 Posts 12 Re: problem with French Visa card in the USA Thanks a lot for all your replies! If HSBC doesn't charge for using card in the USA, it can be a good option if they exchange rate is good too, but from what I heard they have a very high annual fee for most of the accounts (which drives me mad because I had HSBC account while staying in Edinburgh many years ago, it was totally free and they continuously upgraded my Visa to golden and then platinum for free while I have been just working at the University so didn't have lots of money ;) ) I will try to check it out ... I will also check Caxton fx pre-paid currency card. As for getting a company card - they are thinking about introducing it in the future but for now we have to pay ourselves and of course the company will not cover non-job related spendings (outside working hours or weekends). Also my relatives moved to the USA so I plan to visit the USA more often now ... Thanks!!!    Report

08/03/2010, 9:41 Steve Hardy Joined on 08/03/2010 Posts 1 Re: problem with French Visa card in the USA Hey I checked out Caxton some time ago - they're good, one of the better cards available, but the one I went for was the FairFX card. Their exchange rates always seem to be a bit better. Get all 3 of their cards (euro, dollars and anywhere) to save you the most money. Have a great trip!    Report

France ForumLegal and Finan...French FinanceRe: problem with French Visa card in the USA

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