You are a student and you are going to spend several months outside of the euro zone ? You are a professional and you go abroad regularly ? You have the fibre globe-trotter and this summer you are going to go several weeks in an exotic country ? Stay on bank notes, especially if you are at the Caisse d’epargne ! We’re going to introduce you its new service : the international Option ! It may help you save on your banking fees abroad. Explanations.
Abroad, payments and withdrawals are paid
Outside the euro area, remove and pay with a credit card can cost you candy. On operations abroad, the banks take in a often high commissions. According to our calculations, they are charging on average up to 2.50 % + 3,20 € per withdrawal and 2.50 % + 0,20 € per payment (June 15, 2017). As a result, if you stay a long time in a country that has not the euro, the note can quickly climb…
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A fatality ? No. Be aware that some banks – such as the Company’s General – market options “” pay, which allow you to make several free transactions abroad each month. And the good news is, since June 12, 2017, the clients of the Caisse d’epargne also have their international option. All the regional banks are marketing this option with the exception of the Caisse d’epargne Hauts de France which will end in 2017.
Until now, the Caisse d’epargne only offered a package ” withdrawals internally displaced persons international “. It did not allow to make 4 withdrawals in foreign currency per month. The payments were not taken into account. Since mid-January, it has been replaced by the international Option, more complete.
Focus on the international Option of the Caisse d’epargne
It is available in 2 versions :
- A formula ” Traveling “ that can be purchased for 1 month or more
For 4 € per month, you can make 3 cash withdrawals and 10 payments per month outside the euro zone. Beyond that, the standard commissions apply. In general, the Caisses d’epargne apply 2,80 % + 3,20 € for a withdrawal and 2.80 % with a maximum of 6.25 € for a payment. The payments and withdrawals in box € are all of them free of charge.
- A formula ” Residence “ which must be purchased at least 2 months
For € 16 per month, you can make 4 cash withdrawals per month outside the euro zone, and 1 transfer to non-SEPA per month. The payments, which are unlimited outside the area €. In the euro zone, all payments and all withdrawals are free and unlimited.
For 12-25 years, these formulas are half price, or € 2 per month for the “Trip” and 8 € per month for the phrase ” Stay “.
Is this really economic ?
As often, the answer is ” it depends “. It depends on the length of your getaway abroad and the number of payments and withdrawals that you make. But overall, if you are going from several weeks in a country outside the euro area, there are large chances that this option may be a good plan. Proof.
If you go 1 month in Latin America, you may make 3 withdrawals to the equivalent of € 200 and 10 payments of 100 €, you will pay in general at the Caisse d’epargne – out Option International – 54,40 € in commissions, compared with just € 4 (or € 2 for young people) with the Travel package. In this case, the formula for Stay is, therefore, really economic !
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The diagnosis banknote
In short, this option, this is the good plan if you’re going abroad. We think here for example of the students who will depart at the start of Erasmus +. But not that ! If you go this summer vacation abroad, think of it also ! 4 € per month for the phrase ” Trip “, it will be quickly damped.
Formula Trip or Holiday ? The phrase “Travel” is canon. If you pay attention and favour large withdrawals, it can be widely sufficient. In fact, the formula “Stay” is addressed mainly to people leaving for several months. Therefore, before you purchase one or the other of the formulas to estimate your needs, do the math, and ask your bank advisor.