Arriving in Paris for your studies and wondering how to get euros without losing a fortune in fees? Here is a practical guide, designed for foreign students, to help you exchange your currency, manage your budget and have your remaining banknotes bought back at the end of your stay.
Why plan for euros as soon as you arrive
France today is largely geared towards card and contactless payments, but arriving with a little cash remains a wise move when you land as a foreign student. Opening a French bank account can take time: you often need to gather proof of address, a certificate of enrolment and a residence permit before the account is truly operational. In the meantime, cash will come in handy for small day-to-day expenses: a meal, a transport ticket bought at a kiosk, a deposit for a room in a shared flat, or shopping at the markets of the Latin Quarter.
The most common pitfall? Exchanging everything at the airport counter (Roissy-Charles-de-Gaulle or Orly), where the terms are generally less favourable than in the city. It is better to convert just enough to get through the first few days, then come and exchange your currency at a proper bureau de change once you are settled in.
Where and how to exchange without paying commission
Paris Change is a bureau de change approved by the ACPR (Autorité de contrôle prudentiel et de résolution, the French prudential supervisory authority backed by the Banque de France). This approval is a mark of trust: it means the establishment is supervised and operates within a regulated framework, a reassuring point when handling sums in foreign currency far from home.
Our shop is located at 4 Boulevard Saint-Michel, 75005 Paris, right in the heart of the Latin Quarter, a stone's throw from the Sorbonne and the major universities. It is a particularly convenient address for a student: you can reach it via the Saint-Michel metro (line 4) as well as the RER B and C (Saint-Michel–Notre-Dame station), just minutes from campuses and libraries.
A few concrete advantages for your budget:
- No commission: the rate displayed is the rate applied, which makes it transparent to calculate what you receive.
- More than 53 currencies available: whether you arrive with dollars, yuan, dirhams, rupees, reais or other currencies, you will be able to convert them into euros.
- Open 7 days a week: Monday to Saturday from 9:00 am to 8:00 pm, and Sunday from 10:00 am to 7:30 pm. A range of opening hours that is rare in Paris, very useful when your classes fill your weekdays.
- Online booking and then collection in store, to prepare your transaction and save time on site.
Counter rates (buying and selling) are indicative and change every day depending on the market: remember to check the day's rate before making the trip.
Managing your student budget in Paris
Beyond exchanging money, a few simple habits will save you unnecessary fees:
- Watch out for ATM withdrawals. Withdrawing euros with a foreign card often incurs withdrawal fees and an exchange surcharge applied by your home bank. For somewhat large amounts, exchanging cash at a bureau de change is generally clearer.
- Decline dynamic currency conversion (DCC). When a payment terminal or an ATM offers to let you pay "in your own currency" rather than in euros, always choose euros: conversion into your own currency often hides an unfavourable rate.
- Tipping is not compulsory. In France, service is included in the bill. Leaving a few euros at a restaurant is appreciated, but it remains a free gesture and not a norm: there is no need to plan for a systematic percentage as in some countries.
- Anticipate major expenses. Housing deposit, registration fees, transport pass: it is better to spread out your exchanges rather than convert everything at once, since the rate varies from one day to the next.
Currency buyback: turn your leftover banknotes into cash
At the end of the academic year, when returning home for the holidays, or simply because you still have foreign banknotes at the back of a drawer, currency buyback is very useful. Paris Change buys back many currencies to convert them into euros for you, or conversely to provide you with the currency of your country before a trip. It is the perfect opportunity not to leave money lying idle that you cannot use day to day.
A regulatory point worth knowing if you carry large sums in cash: when entering or leaving the European Union, any amount equal to or greater than €10,000 (or its equivalent in foreign currency) must be declared to customs. Bear this in mind before a long trip with cash on you.
Frequently asked questions
Do you need a French bank account to exchange money?
No. Exchanging cash in store does not require a French bank account. That is precisely valuable during the first few weeks, while you wait for your account to be opened.
Can I book my euros before coming to the shop?
Yes. Online booking lets you prepare your transaction, then come and collect your euros at 4 Boulevard Saint-Michel, which saves time once you are on site.
What should I do with the currency I have left before going home?
You can have it bought back and reconverted into euros, or obtain the currency of your destination before departure, among more than 53 currencies available.
Have you just arrived or are you preparing for the new term? Come and see us 7 days a week at 4 Boulevard Saint-Michel, or book online to exchange your currency today, commission-free and at the day's rate.
