Cash (lots!!!)

[Mark]

I need to change several thousand pounds into cash euros (ie, not to my bank account).

Nothing illegal is proposed , I just want to haggle over some bits and pieces at vide greniers, brocantes, etc and cash is the stuff to wave around.

The problem we have is that we are only allowed to withdraw up to 200E per week from our account, which does not buy a lot.

So, the question is, what is the best (cheapest) means of changing pounds to physical euros.

Thanks,

Mark61120

[Lori]

Not sure where you bank, but we have our account at Credit Agricole. When we first bought our house, we had huge expenses and needed lots of cash. They simply changed our account to allow a much larger weekly withdrawal for a set period of weeks, then it went back to the ridiculous 300 euros per week. You might give this a try..

[Fontremy]

We have the same problem. They would give us 1,000 Euros in cash for a cheque but no more. We have had to resort to getting money in the UK and taking it with us.

[Dick Smith]

I have just realised why CA wouldn't honour my card in Bricomarché for €1060! Do they REALLY do that?

[MikeHarrison<P>Yours<P><P>Mike<P>]

Hi,

 

There are some good currency  exchange shops around Victoria in London. I've used a switch card to get sums of around 5000 Euros at a better rate than I could transfer between my English and French Accounts.

If you want a specific address let me know.

 

[graham34]

If you want to go the cashcard route then open a Nationwide Flex Account. No loading on foreign withdrawalls, operate everything via. the Internet and you can cash up to £500 a day.

Graham

[Teamedup]

Are you trying to tell me that I can't, after being reasonable about it and go and say to my french bank, "next week I need several thousand euros in cash" and they won't be able to give it to me if the cash is there in the account (some hope, by the way)?

[Mark]

Thanks for the replies everyone.

It looks like a Nationwide account is best, if a little long winded (unless there are more suggestions). Wouldn't it be so much easier if we were in the eurozone and I could just go and withdraw the cash from my own bank in the UK.

Teamedup; Don't know the answer to your question, but the whole cash withdrawal limit thing is to stop money laundering in France (Europe?) as suppose that they reason that your average drug dealer needs access to very large amounts of cash in a short space of time.

So, really I am still at a loss as to (easily) obtain euros in this country at a decent rate.

Thanks all,

Mark61120

[Redcap]

[quote]Are you trying to tell me that I can't, after being reasonable about it and go and say to my french bank, "next week I need several thousand euros in cash" and they won't be able to give it to me if t...[/quote]

I find this hard to believe! If we have several thousand € in our account, and want to draw out a few thousand, are you all saying we can't?  Surely if notice is given, it's our money they have to give it to you?

We will be in this position at the end of next month, we will be buying various items for the house etc, and whilst we can no doubt pay by cheque or debit card, we may need cash and probably more than 200-300€!

Is this just CA Britline, or are all banks like it?

Regards,

Bob

[derf]

[quote]I find this hard to believe! If we have several thousand € in our account, and want to draw out a few thousand, are you all saying we can't? Surely if notice is given, it's our money they have to giv...[/quote]

Hi

I bank with Banque Populaire and recently went to a seminar on banking in France hosted by them, lot's of strange things abut French banking but they emphasised that there is definitely a monthly limit on withdrawals cash/cheque debit card or whatever and if you made a prior  agreement with the bank you could temporarily increase this limit by a small amount so if you write a few cheques and pay some bills by debit card you could soon go over your monthly limit.

 

[LesLauriers]

I'm sure that I read somewhere (?) that it is illegal to pay / accept payment for over 2000€ in cash - no doubt part of the money laundering / taxation purge.

In the UK we bought everything on a credit card (1% cash back, merci!) here everything is by cheque and of course no cheque cards!, even when buying cars we paid by cheque and did not have to wait for the cheque to clear. Only when buying the house were we subject to the UK procedure of " show me the money" and that was by bank transfer as in the UK

The Banks must take the view that there is no need for large amounts of cash, and of course handling large amounts of cash costs money!

 

[Penny29]

Hi,

We drew E1000 out one week (Banque Tarneaud) and they phoned us up for a full explanation of what we used the cash for and why we weren't using cheques!!!!!

 

[Teamedup]

I have to call into my branch tomorrow, so will ask this question. There is no way I would ever use lots of cash to purchase anything here, in fact it is rare that I have as much as say 100 euros on me, that, I consider, to be quite a lot. And my husband usually hasn't more than 10-20 euros on him, sometimes I try to give him more, but he just doesn't like carrying cash around either.

[Dublin_Annie]

I suspect it's the money laundering regs again.  We had fun & games opening an account.  Even when they were happy with all the paperwork they still called asking all sorts of questions about the house we were buying and whether or not it needed any work.  Why?  We aren't taking out a mortgage or even looking for an overdraft.  I felt like asking her what her house was like!!  Didn't though as we want a bank account

I was warned to have all documentation ready to send to them when we transfer money from a UK house sale.  They get all excited about large sums of money moving around. 

I hadn't realised the limits on cash withdrawals were so tight though.

[Teamedup]

Well I called in at my branch and with this particular bit of the HSBC in France (Not CCF) they said I could draw out what I wanted, but if it were a really big amount I would need to give them around a week's notice, this would be from the counter of my own branch. As I still have accounts with several other french banks I will ask them. Although I know in the past, it was not quite as simple as that with some of these other banks....... à voir!

[LesLauriers]

[quote]Well I called in at my branch and with this particular bit of the HSBC in France (Not CCF) they said I could draw out what I wanted, but if it were a really big amount I would need to give them around...[/quote]

What was their definition of a "big amount"?

[Teamedup]

LOL My definition was 10k euros, but the girl did say the balance of the account. 

 Frankly, I would never even carry as much as 10k around in cash. The reason being that we couldn't afford to lose it, it is all relative isn't it. If I were a millionaire, then it would be just pin money, but even a few hundred euros would be just too hard on our budget.

[Jec]

we recently had a similar problem after booking aholiday through SNCF on the telephone. the limit on the card wasn't enough, so I phoned the bank for some advice. After establishing that SNCF would not accept anything other than a french bank card, not even a cheque, I got back to the bank and was eventually issued with a maestro card, which is apparently, much more sophisticated and has a larger limit. Costs the same as the old card and, it might be my imagination, but it does seem to go through the machines more quickly. This was at Credit Agricole.

Hope this helps.

Julie

[Val_2]

Over the years we have been warned time and time again about how dangerous it is to withdraw large amounts from your bank whether cash or cheques as the fisc here are extremely nosy,have access to bank accounts and can demand at anytime an explaination as to what the money has been used for. This has come from accountants, garages and the banks themselves as well as close friends giving advice. So beware - Big Brother exists bigtime in France.

[Annhopkins]

We bank with Credit Agricol, unbeknown to us our account had the standard 1500€ per rolling week withdrawal.  We have changed the card on the account and now we can have 4500€ per rolling week.  This amonut is only applicable for purchases etc made with your card, any cheque payments are not included in this total spend. However you can go into the bank as long as you notify them in advance and withdraw cash, if you do this then this does not count towards your weekly total for using the card.

 

Hope this helps.

 

PS we had to pay 6€ per year for the higher card rating.

[IAN_S]

We are with Credit Agricole du Midi and our cash withdrawal limit has always been €400 per day which is €2800 per week I think!

The only problem we have ever had sometimes was getting large sums out of the branch as they just did not have it in the safe that day.

 

[isabelmaidment]

[quote]I need to change several thousand pounds into cash euros (ie, not to my bank account). Nothing illegal is proposed , I just want to haggle over some bits and pieces at vide greniers, brocantes, etc ...[/quote]

Have you tried requesting a meating with your councillor at the bank and explaing just how difficult their rules are making your life. For the last 9 years we have turned up at our branch at the beginning of visits, shown our passports if we don't recognise the bank staff/vice versa asked for a statement of the last 10 days transactions and with drawn say 2,000 euros then and there.

The two recent changes are European money laundering regs which require you to provide a motive/reason for remitance of over 10,000 Euros and our bank only has a cashier between 9 am and noon.

The debit card/pin rules have very iritating rules which is why we have been

Anton Redman (login explanation is getting tedious)

[Alexis]

This is interesting.  I have never had a problem withdrawing MY money from my bank.  Certainly, if it was a large amount, I had to warn the bank.  Used to be 10,000F I think.  I often draw large amounts if I am off to the UK - hope that I won't need to change all of it - usually do though!

Can I ask if there seem to be different rules for people who live here all the time and people who have 'second homes'?