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Before you dive in

Before heading off to Europe for a summer of sporting events and fun, there are a few key pieces of life admin you need to sort. Top of the list? Your finances.

Our best advice is to plan ahead with a budget in place to guide your spending. Simple, right? Well, not quite so simple. There are a lot of pieces to put together before you grab your passport and fly across the Atlantic. Luckily, we’re in your corner to coach you at every turn. Let’s talk about what you need to do.
On your marks, get started
Beige building in Paris and a swimming pool.

On your marks, get started

Getting to another continent isn’t cheap at the best of times. Summer 2024 is going to be a big one for anyone heading to Europe. Before you make that long jump across the pond, take a step back.

Start by setting aside a specific amount of money for your trip. A good guide is to base it on your income, your average expenses, the length of your trip and any savings you’re willing to use. That final number will be your budgetary north star.

Chic doesn’t come cheap

Now that you have your set amount you can spend, let’s cost out what you’ll be doing. We’ll leave how you travel to Paris to you, so the next big ticket item? Accommodation.

If you like to wing it and deploy some “girl math” logic here, we won’t argue. If you like to be a bit more in control, set aside money in your budget to pay for wherever you’re staying. This is likely your biggest expense of the trip in a single shot, making it easy to manage ahead of time. Haven’t booked your hotel yet? That’s okay. Take the time to do your research and figure out what works best for you in terms of pricing and location.

The flight is the bag, you have somewhere to rest your head — check. What next? You’re in an amazing — and busy — city, so you may want to make some plans in advance or play it by ear. Either way there’s some things you’ll need to bear in mind.

Most likely you’ll also spend some money on: transport (cabs, public transit), activities (museums, adventures), shopping, gifts for loved ones (this includes yourself) and most importantly, food (speaks for itself).

Our top tip: break your expenses down so they’re small and manageable. Set aside funds for each of these categories to give you a view of what you’re willing and able to spend over the course of your trip.

Finally, keep some of your money back just in case. Maybe you saw a beautiful bag you weren’t planning on buying or you want to take a boat tour you didn’t know existed. Have a little extra for these occasions. Trust us, they inevitably crop up.

You and your budget: squad goals

Congratulations, you now have a budget. Now, where to put it?

There are plenty of simple ways to track your budget and keep it close to hand throughout your trip. Use a spreadsheet and input expenses as you go; use a budgeting app; or even list amounts in your notes app. All that matters is that you store numbers in an easy, accessible and up-datable location.

From there, make sure you’re tracking expenses on the go. Maybe you take time at the start or end of each day to see how your spending is going and if you need to move money around within your budget. But do avoid updating that spreadsheet over a candlelight dinner. It can wait.

Your opponents

While abroad there are few ways to make your money go farther. It mostly comes down to the way you’re spending. It helps to have a few options available to you. Like the Wise debit card, so you’ll always pay like a local in the currency of the country you’re in.

Now for a few watchouts when you’re at checkout. Dynamic currency conversion. Always choose to pay in the local currency, not your home currency. When you choose USD rather than EUR you’ll likely get an inflated exchange rate that includes a hidden fee, because your US bank will make the conversion on your behalf. It’ll make every purchase more expensive — buyer beware.

Plan on carrying cash? Skip the currency exchange at the airport and head straight to the ATM for the best rates. Your credit or debit card likely charges extra fees for this. To avoid paying excess fees, use a Wise debit card. With Wise, you can withdraw twice per month up to 100 USD for free.*

Our best advice is to have multiple methods of payment. One credit card is a gamble; carry your Wise debit card and another backup payment method that you keep separate from your other cards. That way, if your credit card fails you have something else on hand.



*Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Win the summer with Wise

If you want to avoid getting caught out by hidden fees and want peace of mind that you won’t be overcharged on your trip, consider traveling with Wise in your pocket.

Open a Wise account, convert your USD at the actual exchange rate you’ll usually see on Google and hold money in 40+ currencies including USD and EUR. With a Wise debit card, you can pay like a local right from your EUR balance throughout your trip. (Pro tip: you can also boost your balance when you opt in to receive annual percentage yield (APY) on EUR and USD balances with Wise’s interest feature -subject to change, certain limitations apply — see Program Agreement for more information).

Already in Paris? No sweat. We’ve got you covered with our virtual cards. You can activate one in a flash and use it safely when abroad via Apple Pay or Google Wallet.
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THE BEST PLAY
FOR YOUR MONEY

Plenty of Paris sights are free. However, for a fully immersive experience and for day-to-day needs, you’ll need some euros in your pocket.



​​Get up to speed on the actual exchange rate

Take the time to understand how exchange rates work. You may notice that the rate offered can vary between different banks and merchants. This is because each service applies their own amount of commission to the real rate.

Even if ‘zero commission’ is advertised, often banks hide a fee in the exchange rate. The actual rate of what you should be charged is called the interbank or mid-market exchange rate — handily it’s the one you’ll see when you search Google. Use this rate as a benchmark to calculate how fair the tourist rates are. Take into consideration any upfront fees charged. The live mid-market rate can be checked using our handy online currency converter.¹

Research your home bank’s partnerships before you leave

Before leaving for your trip, check whether your bank has any international partners in Paris. If they do, you may be able to use the partner bank’s ATMs to withdraw money for free or at a reduced fee. If in doubt, notify your bank of any plans to use your card in another country. Blocked cards aren’t much use.

Local currency for the gold

If a merchant or ATM asks you which currency you want to be charged in, choose euros. You’re at a boulangerie and a message on the card reader flashes up asking if you want to be charged in USD. Say no.

If you choose to be charged in USD you’ll usually end up paying more because the bank or merchant will apply their own conversion rate to the transaction. This is usually poorer than what your card would charge you on its own. Seriously, always pay in euros.

Avoid airport and hotel currency exchanges

Airports and hotels cater to a captive audience. Their exchange services will reflect this in their higher fees and poorer rates. If you’re in desperate need of cash at the airport or hotel, change the minimum amount you need to get by until you find a more centrally located exchange booth. For an easy and usually cheaper option, withdraw cash directly from an ATM.

Leave with an empty wallet

Changing leftover cash back to your home currency at the end of your trip will mean you’re paying conversion fees twice on the same money. Spend the money on yourself instead, or put the euros aside for the next time you visit a country supporting euros abroad via Apple Pay or Google Wallet.



¹ For full pricing details, visit the Wise website here. Wise does not charge additional fees up to 100 USD, however fees charged by ATM providers may vary.

Things change — exchange rates do too

The value of currency fluctuates daily. Many factors can affect an exchange rate — anything from political decisions to economic and external events. Unless you’re aware of a major sporting event, the rate should not change dramatically during your stay in Paris. Remember you can use our currency converter to keep track of changes in the exchange rate.

PAY YOUR WAY

In the US, credit cards are the go-to for everyday payments and purchases. In Paris, most hotels, restaurants, shops, and tourist attractions accept major credit cards such as Visa, Mastercard, and American Express. Want a smooth process? Here are a few things to avoid unexpected fees.



Using chip-and-PIN?

Credit card transactions typically require a chip-and-PIN system in Paris. Shield your PIN when entering it to keep your money safe. Magnetic stripe or contactless paymens mmay not be accepted everywhere so keep this in mind.

Be aware of international transaction fees.

They can add up quickly. Understand the terms and conditions of your credit card agreement. Some offer no foreign transaction fees, while others might place a surcharge on purchases made abroad.

Always pay in the local currency

When using your credit card for purchases in Paris, you may encounter dynamic currency conversion (DCC), where the merchant offers to convert the purchase amount into your home currency. Always opt to pay in euros instead to avoid unnecessary charges.

Credit card rejected, what now?

While many places do accept credit cards, they are still not as common in France as they are in the US. Sometimes your card may not be a valid form of payment. Most often this happens at independent establishments or during smaller purchases. For those instances, keep some cash on you.

Easily withdraw euros at ATMs in Paris — called distributeur automatique de billets in French — which are widely available at airports and around the city. You’ll find ATMs in a post office and within or outside bank branches. Look for a sign that says retrait — the French word for “withdrawal”.

Keep a back up

It’s always worth having a number of payment options available to you throughout your trip so that you’re never in a situation where you can’t pay for something you need. You should consider keeping a credit card, debit card or prepaid multi-currency card, and cash on-hand at all times.

It’s also a good idea to carry them separately so that if you lose one card or your wallet is stolen, you’re never without a means of payment.

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Tips to avoid ATM fees


Domestic and foreign banks partner to offer customers fee-free or significantly reduced ATM fees. Bank of America card users can get fee-free withdrawals at BNP Paribas, one of France’s biggest banks. Check if your bank offers this.

  1. Withdraw money with a debit card rather than credit card. Credit cards are often seen as a loan, so fees are much higher.

  2. Always choose to withdraw money in the local currency (EUR) and avoid dynamic currency conversion (DCC).

  3. Avoid independent ATMs. ATM’s without clear bank branding on or above them, may charge additional fees.

  4. Use your Wise debit card to withdraw for free up to two times per calendar month up to 100 USD.1 ¹ ² Convert your currency ahead of time in the Wise account at the mid-market exchange rate, or use our smart conversion tool to get the best exchange rate from your USD balance.



¹ For full pricing details, visit the Wise website here. Wise does not charge additional fees up to 100 USD, however fees charged by ATM providers may vary.

² Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Please note that certain products or features may not be available in all regions. Please visit www.wise.com check for availability and learn more about our offerings.

Team travel and
splitting costs

Traveling with friends or family can be an incredible experience. Managing expenses is no one's idea of a fun holiday activity. To split costs among your travel companions in Paris fairly, communication is key.



Before you travel, sit down with your companions and discuss how expenses will be shared. Establish a clear understanding of everyone’s budget and preferences. It can prevent misunderstandings later.

Things might change as expenses add up or one of you makes an unexpected purchase. Just maintain open communication regarding expenses and budgetary concerns. Be as flexible as an artistic gymnast and willing to compromise to accommodate varying preferences and financial situations.

Master the splits with Wise

If your friend pays in euros and you pay them back in dollars, you could end up sending them more or less than they actually paid depending on the exchange rate offered by your bank (often very different from what you see on Google).

Wise offers a convenient and simple solution for splitting expenses among friends or family members, especially when dealing in different currencies. If your friend owes you for a morning croissant, here’s how to request exactly the right amount of money back:

    1. Open your Wise account and click on the balance you’d like to request money from. For your travels to Paris, this is likely to be your Euro balance. Tap the ‘More’ button (the one with three dotted lines) underneath your total balance and click ‘Request a payment’.

    2. If your friend is already on Wise, they will show up automatically in your list via their phone number. Click their name and specify the amount you are requesting.

    3. Add a note if you like, and then hit ‘Send request’. They’ll receive a notification and be able to accept the request, the money will land in your account in under 20 seconds.
If you’re requesting or sending money in the same currency to another Wise user, the exchange is completely free. If you request money in one currency and your friend sends it from a different currency balance, the balance is converted at the true mid-market exchange rate with no fees.

By using Wise, you can avoid the high fees charged by banks and traditional money transfer services, ensuring that everyone pays their fair share without overspending.

Keeping your
money safe

When traveling abroad, it’s even more important than usual to be vigilant with your money. With no local bank branch or nearby friends and family to fall back on, it can be more difficult to get help if things go wrong. Here’s what you can do before and while you travel to protect your finances and ensure your trip is a memorable one.

Turn account notifications on

Make sure you have turned notifications on for your bank or account transactions. This way, if your card is unfortunately stolen or your card details are used, you will be notified immediately and be able to freeze/cancel your card to keep your money safe.

Have payment options aplenty

When you travel, always carry multiple payment methods with you, ideally separately so that if one is stolen or lost you don’t lose them all at once. If you usually use a credit card, make sure you have a debit card available in case it’s rejected. And it’s always worth carrying cash just in case.

Be aware of your surroundings

Never leave your bag unzipped or your cards/cash in an open pocket. Ideally, any bag you carry should be cross body and your hand should be on it at all times.

You may also be vulnerable to scams. Be mindful when shopping with street vendors and pay in cash if you aren’t sure to avoid your card information from being stolen. Follow all the basic safety precautions of hiding your pin from those around you, too.

If your card is lost or stolen

Take immediate action. Get in touch with your bank to report your card is no longer in your possession. An even faster way to do this is to cancel your card online or on your account app.

If you lose your Wise debit card, you can freeze it immediately from the app by tapping on ‘Card’ and selecting ‘Freeze card’. Any unauthorized activity should be reported to us here.

Don’t panic

If you find yourself in a tricky situation like those mentioned above and don’t have a backup payment method, Wise is here to help.

Do you need immediate access to your money? You can quickly and easily set up a Wise account and top up in dollars from your bank account. From there, you can convert money at the true mid-market exchange rate to Euros and pay like a local using our virtual debit card from your Apple or Google Wallet in seconds.