Commission-free exchange office in France: how to save on your exchange fees?

When it comes to currency conversion in France, many people think of heading to a currency exchange office. Some of these offices promise commission-free currency exchange, but is that really true? What should you consider when choosing a currency exchange office? And are there better alternatives to convert your money in France? Let's explore these questions.

With a Wise account, you can hold 40+ different currencies and convert them instantly and at a lower cost. While most exchange offices add hidden fees when converting currencies, Wise uses the mid-market rate and doesn’t charge hidden fees.

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Commission-free currency exchange office: myth or reality?

Do commission-free exchange offices really exist, as some providers claim? Let’s take a closer look.

Commission-free currency exchange: what does it mean?

A currency exchange office is a place, official or not, where people go to convert one currency into another. For example, when a French resident travels to London, they’ll need to exchange euros for pounds sterling to make payments. They would then visit a currency exchange office to carry out the conversion.

Some exchange offices, especially in major cities around the world, claim to offer commission-free conversions — but is that really the case? In most cases, the reality is different. Most offices apply hidden fees during the exchange process, mainly linked to the rate they use when converting currencies.

The exchange rate and hidden fees

Most exchange offices around the world use an average or marked-up rate when converting currencies. This means that when someone converts €10 into pounds sterling at an exchange office, they won’t receive the amount based on the mid-market rate. Why? Because exchange offices usually add a margin to the conversion rate, on top of fixed or variable commissions, depending on their pricing policy.

In short, their approach is quite similar to that of most traditional banks. So, finding a truly commission-free currency exchange is nearly impossible when using a traditional exchange office.

How to exchange your money without commission in France?

To exchange currency without paying unnecessary fees, you need to choose your exchange office carefully — or consider more cost-effective alternatives.

Choosing a commission-free exchange office: what to look for

If you decide to use a currency exchange office, here are some key things to consider:

• Avoid exchange offices in tourist areas: Offices located in airports, train stations, or shopping centres tend to charge higher commissions, especially through marked-up exchange rates. Offices located in city centres often offer better rates due to competition.

• Ask for all fees upfront: Once you’ve found a reputable exchange office, make sure to ask for a breakdown of all fees before proceeding. You might be surprised by how much extra you’d pay otherwise.

• Exchange money once you arrive at your destination: If possible, avoid converting your money before leaving France. For instance, instead of exchanging euros for US dollars in France, it’s often cheaper to do so after arriving in the US to benefit from local rates.

Even with a good exchange office, some fees are inevitable. The goal isn’t to eliminate them completely but to reduce them as much as possible.

Alternatives to exchange offices for commission-free conversions

While exchange offices are convenient, they’re rarely the most cost-effective option.

Here are some alternatives to consider:

• Online banks: Some online banks offer more favourable exchange rates and lower commissions. Research different providers and compare their fees before deciding.

• Online exchange platforms: There are also digital platforms that specialise in currency conversion. Some of them offer competitive rates and transparent fees — but always check their pricing policy before using them.

Alternatively, you can use Wise to convert your 40+ currencies using the mid-market rate and without hidden fees.

FAQ: Commission-free currency exchange office

Here are some frequently asked questions about commission-free currency exchange offices.

Where can you exchange currency without fees?

It’s not possible to exchange currency completely free of charge at an exchange office, as they need to make a profit. However, you can reduce fees by choosing a reputable exchange office or using a more cost-effective alternative such as Wise.

Is it a good idea to pay or withdraw cash abroad with a Visa debit card?

Before paying or withdrawing money abroad with your Visa card, check your bank’s foreign transaction fees. Like exchange offices, most traditional banks use unfavourable conversion rates and charge additional commissions.

How can you avoid hidden fees?

To avoid hidden fees, always ask the exchange office to list all fees before confirming the transaction. Unless the provider is not transparent, you have the right to know the full breakdown of costs.

Convert your currencies in France at the mid-market rate with Wise

Converting currencies at an exchange office can be costly due to hidden fees and high commissions. With Wise, you can convert your 40+ currencies using the mid-market rate — with no hidden fees.

You’ll save money and avoid the hassle of going to an exchange office since you can manage everything easily through the Wise app.

Other advantages of having a Wise account:

• Get account details in 8+ different currencies to receive international transfers without fees.
• Convert currencies instantly at the mid-market rate.
• Use your international Wise card (physical or digital) to pay like a local abroad.
• Send money to 140+ countries at low cost.

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This article is a translation of the original article published in French and was translated within 365 days of publication. While the content has been translated for accessibility, the data and sources referenced have not been updated since the original publication date.