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The best place to exchane currency?

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Atlanta, Georgia
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78 posts
13 reviews
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The best place to exchane currency?

I'm heading to Rome next Sunday and I would like to know which exchange would get me the best rate. My mother wants to order from Wells Fargo but I think I read that your money will go farther if your pull it from the ATMs in Rome. Or should I exchange it at the airport in Philly?

Saint Marys, Ohio
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8,140 posts
30 reviews
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1. Re: The best place to exchane currency?

No matter where you go to a money exchange you'll get ripped with fees and exchange rates.

It doesn't hurt to get about 100-150 euros before you leave so you have some when you hit the ground in Italy. Using the ATMs is the BEST way to get more euros. You'll get the best exchange rate that way and you don't have to walk around carrying a lot of cash.

The Italian banks don't charge fees, but your bank will. Call them and find out what their fees are and also let them know when you'll be in Italy so they won't suspect a problem when charges start coming in from overseas.

KelflyOh
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343 posts
27 reviews
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2. Re: The best place to exchane currency?

Can we just take USD$ cash to a bank in Rome and exchange for euros? Is there a fee for that, just like at the ATM or is it less at the bank?

Houston, Texas
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23,572 posts
519 reviews
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3. Re: The best place to exchane currency?

The best thing to do is that in your home location in the US is call your bank and say you need a certain amount of Euros. They will take the money out of your account and within 2 days you will get the money in the bank to pick up. That is what I did for Berlin and what I will do for my trip to Istanbul and Rome getting Turkish Lira and more Euros. I also made sure that I got a credit card that does not charge an international rate of 3% per transaction, so I am a bit more prepared this time around. If you do use your credit card use it only at places known like the Colosseum, Galleria Borghese, Segway, etc

Sydney, Australia
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25,169 posts
60 reviews
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4. Re: The best place to exchane currency?

You can use your CC in most places, but small cafes and shops prefer cash. There is not so much of a CC culture in Italy as there is in the US.

NEVER change cash at the airports. The exchange rate will be horrendous, even if they say something like "no commission" If you must change case somewhere, ask first exactly how much you will get and know (by looking it up on line) what the exchange rate of the day is.

A normal debit card, used in an ATM, will incur some charges, usually about 3% of the value and maybe a €2 or so transaction fee imposed by YOUR bank. Your CC will also incur the 3% or so fee. There are a few American cards that do not have such fees.

That said, you are better to wear these fees than the 8-10% or more often charged at airports.

Note that ATMs are called Bancomats. They are everywhere. They will allow you to transact in English. Just choose the British flag.

And the consensus seems to be that you cannot exchange in an Italian bank unless you are a customer.

Manchester, United...
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62 posts
12 reviews
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5. Re: The best place to exchane currency?

Id take what you think you need (converted at home from your Bank/currency exchange). If you have one (or if you have time to apply for one before your trip) Id take a 0% foreign transaction fee Credit Card and use this on entry tickets/restaurants etc...) and your normal bank debit card just in case you need to draw anything further. Id only draw money on a card as a last resort.

By balancing a 0% Credit Card (for transactions only and not purchases) and the Euros you take with you, you should be fine.

Sydney, Australia
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for Train Travel
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6. Re: The best place to exchane currency?

Do not take any substantial amount of currency (in any country's cash). If it gets stolen, the money is lost and your holiday is ruined. Maybe get €100 in advance, so you don't have to look for an ATM as soon as you arrive, but after that use a debit card at ATMs.

New York City, New...
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270 posts
86 reviews
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7. Re: The best place to exchane currency?

atms without doubt

8. Re: The best place to exchane currency?

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