nyumom

It has been recommended that students studying abroad in Paris should open up an HSBC checking account/debit/credit card because it's easier to use than a debit/credit card from the states. Apparently, these cards use a different system than the US credit/debit cards in that they have a chip which is used when paying for the metro, renting bikes, etc. in Paris. I was wondering if anyone has had experience with using these cards and if there is, in fact, an advantage to go to the trouble of opening up an account with HSBC for checking/debit/credit.

twinmom

NYUMom: Did your kids decide to do this? Any idea if a Bank of America card/account is helpful in Paris?

saramom

I have daughter studying in Paris this year. A BofA debit card is indeed helpful throughout Europe. I can add money to her account here and she can withdraw euros at any BNP Parabas bank without any fees. We also gave her a Capital One credit card for emergency use, which does not charge a currency conversion fee. Having said this, she also opened an account with a bank in Paris as she needs to pay rent and untilities (I can get the name if interested).

nyumom

twinmom,
D found that she really doesn't need the account, but now that I'm reading saramom's post, I'm wondering had she used the HSBC account, if it would have been fee free - because I can tell you for a fact that our bank charges those small fees, and they're starting to add up. I guess I'm just being lazy with not encouraging her to use the HSBC - using our own bank just seems easier - same thing with the cell phone - I'm still not using Skype - again, my own fault if I get high phone bills. Oh well, she'll be home soon.

nyumom

Sorry, I didn't answer your question - I don't know about Bank of America - perhaps you can inquire if that bank charges any extra fees while abroad. I'm inclined to think that they do, but I don't know for sure.

twinmom

Thanks to both of you. Any other tidbits that might be helpful in terms of the study abroad experience in Paris would be appreciated!

cupcake

Is the US the only country in the world which doesn't have chip and pin? We had it in Australia in about 2000.

It is just a way of preventing fraud. All that happens is when you pay for something your card is inserted into a little hand-held box by the cashier. Then you enter your ATM pin number into the key pad on the box. It is so no-one can steal your card and use it by forging your signature. The cards also have the usual swipe strip on the back so they will work in the traditional way too. Really it is no big deal so don't worry about it. You don't specifically need such a card in Europe. Ordinary ones are fine.