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Home arrow Travel France arrow General information arrow Travel France About Cash Money and Banks in France








Travel France About Cash Money and Banks in France

Travel France Customs and Taxation in France

France is one of twelve European Union countries who have changed over to a single currency, the euro (). The transition period, which began on January 1, 1999, is, however, lengthy: euro notes and coins were not issued until January 1, 2002, with francs remaining in place for cash transactions , at a fixed rate of 6.55957 francs to 1 euro, until they were scrapped entirely at the end of February. The euro comes in coins of 1 to 50 cents, €1 and €2, and notes of €5 to €500. 

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Even before euro cash appeared in 2002, you could opt to pay in euros by credit card and you could get travellers' cheques in euros - you should not be charged commission for changing them in any of the eleven countries in the euro zone (also known as "Euroland"), nor for changing from any of the old Euroland currencies to any other (Italian lira to francs, for example).

Because of the relatively low cost of accommodation and eating out, at least by northern European standards, France may not seem an outrageously expensive place to visit, though this will depend on the relative strength of your own country's currency. When and where you go also makes a difference: in main resorts hotel prices can go up by a third during July and August, while places like Paris and the Côte d'Azur are always more expensive than the other regions. For a reasonably comfortable existence, including a hotel room for two, a light restaurant lunch and a proper restaurant dinner, plus moving around, café stops and museum visits, you need to allow at least €90 a day per person. But by counting the pennies, staying at cheap hostels camping (from €4.58), and being strong-willed about extra cups of coffee and doses of culture, you could manage on €38 a day, to include a cheap restaurant meal - less if your eating is limited to street snacks or market (around €15.25 for bed and breakfast) or food.

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For two or more people, hotel accommodation is nearly always cheaper and better value than hostels, which are only worth staying at if you're by yourself and want to meet other travellers. A sensible average estimate for a double room would be around €43, though perfectly adequate but simple doubles can be had from €29. Single-rated and -sized rooms are often available, beginning from €21 in a cheap hotel. Breakfast at hotels is normally an extra €4.50, for coffee, croissant and orange juice - about the same as you'd pay in a bar (where you'll normally find the coffee and ambience more agreeable). As for other food , you can spend as much or as little as you like. There are large numbers of reasonable restaurants with three- or four-course menus for between €10 and €18; the lunchtime or midi menu is nearly always cheaper. Picnic fare , obviously, is much less costly, especially when you buy in the markets and cheap supermarket chains, and takeaway baguette sandwiches from cafés are not extortionate. Wine and beer are both very cheap in supermarkets; buying wine from the barrel at village co-op cellars will give you the best value for money. The mark-up on wine in restaurants is high, though the house wine in cheaper establishments is still very good value. Drinks in cafés and bars are what really make a hole in your pocket: black coffee, wine and draught lager are the cheapest drinks to order; glasses of tap water are free; and remember that it's cheaper to be at the bar than at a table.

Transport will inevitably be a large item of expenditure if you move around a lot, which makes some kind of train pass a good idea, although French trains are in any case good value, with many discounts available - two sample one-way fares are Paris to Toulouse, €67.86, and Paris to Montpellier, €57.80. Buses are cheaper, though prices vary enormously from one operator to another. Bicycles cost about €12 per day to rent. Petrol prices shot up in late 2005, and at the time of writing were around €2.20 a litre for unleaded ( sans plomb ), around €2.90 a litre for Super and around €1.90 a litre for diesel; there are 3.8 litres to the US gallon. Most autoroutes (freeways)have tolls: rates vary, but to give you an idea, travelling only by motorway from Calais to Montpellier would cost you around €57.80.

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Museums and monuments can also prove a big wallet-eroder. Reduced admission is often available for those over 60 and under 18 (for which you'll need your passport as proof of age) and for students under 26 (for which you'll need an International Student Identity Card, or ISIC). Many museums and monuments are free for children under 12, and nearly always for kids under 4. Under-26s can also get a free youth card , or Carte Jeune , available in France from youth travel agencies like USIT and from main tourist offices (€18.30; valid for a year), which entitles you to reductions in France and throughout Europe. Several towns operate a global ticket for their museums and monuments.

Standard banking hours are Monday to Friday 9am to 4pm or 5pm. Some close at midday (noon/12.30pm-2/2.30pm); some are open on Saturday 9am to noon. All are closed on Sunday and public holidays. They will have a notice on the door if they do currency exchange. Rates and commission vary from bank to bank, so it's worth shopping around; the usual procedure is a 1-2 percent commission on travellers' cheques and a flat-rate charge on cash (a €4.58 charge for changing €30.50 is not uncommon). Be wary of banks claiming to charge no commission at all; often they are merely adjusting the exchange rate to their own advantage.

There are money-exchange counters (bureaux de change ) at all the French airports and at train stations of big cities, with usually one or two in town centres as well, often keeping much longer hours than the high-street banks. You'll also find automatic exchange machines at airports and train stations and outside many money exchange bureaux. They accept €10 and €20 notes as well as dollars and other European currency notes, but offer a very poor rate of exchange.

Credit cards are widely accepted; just watch for the window stickers. Visa - known as the Carte Bleue in France - is almost universally recognized; Access, Mastercard - sometimes called Eurocard - and American Express rank a bit lower. It's always worth checking, however, that restaurants and hotels will accept your card; some smaller ones don't. Be aware, also, that French cards have a smart chip, and machines may reject cards with a magnetic strip even if they are valid. If your card is refused because of this, you may be able to get them to confirm it by explaining the problem to the cashier or waiter in question: "Les cartes britanniques/américaines/canadiennes/australiennes/de Nouvelle Zealand ne sont pas cartes à puce, mais à piste magnétique. Ma carte est valable et je vous serais très reconnaissant(e) de demander la confirmation auprès de votre banque ou de votre centre de traitement." 

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You can also use credit cards for cash advances at banks and in ATMs. The charge tends to be higher - for example 4.1 percent instead of the 1.5 percent at home for Visa cards. The PIN number should be the same as you use at home but check with your credit card company before you leave. Also, because French credit cards are smart cards, some ATMs baulk at for eign plastic and tell you that your request for money has been denied. If that happens, just try another machine. All ATMs give you the choice of instructions in French or English. Post offices will give cash advances on Visa credit cards if you are having a problem using them in ATMs. Debit cards can also be used in ATMs or to pay for goods and services if they carry the appropriate Visa symbol or there's an "edc" (European acceptance) sign. British cards are charged around 1 percent or a minimum of £1.50 when used in an ATM, so it makes sense not to take small sums out constantly, whereas North American cards tend to charge a flat rate of $1-2, making it the most economical and convenient method. You would not wan the use of ATMs to be your sole source of money on a long trip far form home as a lost, stolen or malfunctioning card would leave you with nothing, so always have some spare currency or travellers' cheques as a back-up.

Copyright Rough Guides Ltd as trustee for its authors. Published by Rough Guides.
All rights reserved.The Rough Guides name is a trademark of Rough Guides Ltd.

 
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