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exchange rates in Italy

scotland
11 posts
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exchange rates in Italy

Would i be better changing my sterling to euros here or when I get there?

Suffolk
Destination Expert
for Lucca
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418 posts
54 reviews
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1. Re: exchange rates in Italy

I tend to change in the Uk for slightly better rates, best of all get a Nationwide credit card, constantly the best rates I receive, better than you get in a highstreet changer. I think Abbey also do a no commission card. Dont forget to check the charges and factor them into the rate wherever you change cash,

Suffolk
Destination Expert
for Lucca
Level Contributor
418 posts
54 reviews
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2. Re: exchange rates in Italy

I tend to change in the Uk for slightly better rates, best of all get a Nationwide credit card, constantly the best rates I receive, better than you get in a highstreet changer. I think Abbey also do a no commission card. Dont forget to check the charges and factor them into the rate wherever you change cash, to get the true rate.

scotland
11 posts
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3. Re: exchange rates in Italy

thanks!

Florence, Italy
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61 posts
4 reviews
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4. Re: exchange rates in Italy

Best to use a cashpoint card in my view, you'll probably get the best rates, most of the exchange places, as everywhere, can apply rates, that no matter how hard you study, will usually not realize until you get back home how hard you were stung (personal experience).

Sydney, Australia
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for Train Travel
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86,193 posts
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5. Re: exchange rates in Italy

Don't exchange cash: you will always get a better overall rate by using a debit card to get money out of ATMs.

Overland Park Kansas
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417 posts
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6. Re: exchange rates in Italy

Hello,

In that topic, if I use my debit card with a Visa logo on it, my bank told me I can use it to withdraw money from any ATM machine. Is it that simple, or is there something else I shoudl know. The worst thing would be to get to Italy, have money in the bank and then not be able to use it.

Thank so much for your help.

baygirl66@yahoo.com

Helensburgh, United...
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1,215 posts
110 reviews
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7. Re: exchange rates in Italy

bay66,

I don't forsee any problems. We used inours in various places and even in relatively small towns like Barga, we had no problems. Enjoy

Overland Park Kansas
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417 posts
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8. Re: exchange rates in Italy

Thank you gor your help.

bay66

Kansas
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for Siena, Montalcino
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3,775 posts
27 reviews
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9. Re: exchange rates in Italy

Bay66,

It is simple but there can be a few quirks.

Notify your bank of your travel plans so they don't put a hold on your card for unusual use.

Italian ATMs (bancomats) don't have a screen for saving or checking choice. Money will come from your primary account which is usualy checking.

Just like the US the Itallian bancomats have transaction limits (the amount you can take out at one time) unfortunetly if you exceed the limit the message doesn't always tell you that. Sometimes it will say 'call your bank'. Many bankomats will have six selections for withdrawal (five amounts and 'other') the top amount is always safe but if you go higher using 'other' you may be refused. You can do multiple transactions as long as you don't exceed your daily limit set by your bank (remember the conversion).

If the machine is out of money it will not always tell you that in the message (basically the messages suck).

The machines are not always posted with the Visa logo but most machines take both the Visa and MasterCard. You can check the Visa locator before you go.

Kamloops, BC...
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9,743 posts
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10. Re: exchange rates in Italy

Hi -

The Bancomat/Cashpoint is the way to go, even with bank fees you'll probably come out well ahead and you won't have to carry masses of cash around.

There is no fee levied by the Italian banks, and their machines truly don't care how many transactions you make from a single machine.

In addition to advising your bank that you'll be travelling, and where, consider increasing your daily limit to something that makes sense when you're on holiday. I usually up mine to the equivalent of about €1,500. I don't necessarily ever withdraw that much, but I want to be able to if I need it. If I'm intending to rent an apartment, I increase the limit to the amount I'll need to pay for it. BTW, I go into my bank and make these arrangements face to face, although I have established a password to allow me to make changes and transfers, etc, by telephone when necessary. I find the instructions are more likely to be acted upon when I talk to folks first hand.

Check with your bank re any extra fees for using a Visa check card to withdraw cash from an ATM. My bank doesn't make these charges, but I know from forum postings that some do. I think the additional fee that's been mentioned is 3%, so it's worth asking.