Do you need to make an international money transfer to France? Perhaps you’re in France and want a relative to make an international money transfer? Here we give you useful facts & information on how to make international money transfers to France.
Banks are one of the most popular and easiest ways of performing international money transfers in France. Banks in France are open from Monday to Friday; however, depending on the individual bank opening times vary slightly. The working day in France is split in two with a 1-2 hour lunch break in the middle which can be anywhere from midday to 2pm.
Be warned however, that because of staff shortages in some banks and the high demand for service, some banks institute a policy restricting international money transfers to the morning session of business. Other banks may stop processing international money transfer requests up to 30 minutes before closing time.
Making an international money transfer to a bank in France is quite simple. The only necessary bits of information that the sender should be sure to include are the name and address of the specific branch you intend to pick up the international money transfer.
Bank De France, which is the central bank in France, probably has the most competitive rates on international money transfers. However, this bank does not provide cash advances on credit cards in France. Also many banks in France refuse to accept $100 bills because there are so many counterfeit notes floating around.
Most commercial banks in France will process international money transfers however rates vary depending on currency and amount so you have to find out the rates for a few different banks before you decide.
Alternative international money transfer options in France
American Express is well established in France with over a dozen offices in the major cities of France. In general it’s quicker and easier to do international money transfers in France with American Express. The commission rate is $50 per $1000 transferred. Similar services such as Moneygram by Thomas Cook are also available in France.
Post Offices in France will also process international money transfers and charge a 1.2% commission on travelers’ cheques. In addition, post offices in France accept many foreign banknotes as well as American Express.
International money transfers at exchange bureaus in France
There hundreds of exchange bureaus in all of France’s major cities that are willing to accept international money transfers. The main advantage of using one of these exchange bureaus is that the queues are shorter and hey are usually open for longer hours every day. The rates can also be very competitive. The only downside is that there is a lot of variance in charges and commission taken by different offices so you really have to ask around to find where you can get a good deal. Some of the major exchange bureaus in France provide terrible rates on international money transfers.