I'm paid by an American company, but travel to France frequently and need to have a French bank account for various reasons. So far the cheapest procedure I've found to transfer money is
- withdraw euros from an ATM with my American card,
- walk to the deposit machine (which is right next to the ATM)
- deposit the euros with my French card in my French account.
The total fee for this procedure is ~5 euro (or maybe USD, it doesn't really matter) ATM fee. It seems extremely stupid: it's an annoying ritual, and if the deposit machine is acting up for some reason I'm left with a huge amount of cash until it comes back online (yes, I could check the machine with a small deposit beforehand, but that's just more annoying.)
Other options (and the reason I don't use them):
- Wire transfer (costs 15-50 USD, slow)
- Bank checks (may have associated fees, even slower)
This seems to be a common problem for travelers. When I was in college in the U.S., my Brazilian friend would pay his tuition with money he withdrew from an ATM, so he'd regularly be walking from the ATM to the bank teller with several thousand dollars in cash, which seemed absurd. Is there some better way?