ATMs in Italy

Barb, As the others have mentioned, you'll be using Bancomats in Italy. I also try (when possible) to only use machines that are inside a foyer at Bank branches. In many cases in Italy, you won't be provided with a choice between savings or chequing accounts. ATM's typically access your primary account, and you'll have to check with your financial institution to determine which account that is. The machines operate the same as they do here (except for the language seleçtion), so you shouldn't have any trouble. On the issue of Dynamic Currency Conversion, I've never seen that used at ATM's (so far). That's more likely to occur when paying bills at hotels or restaurants when using a credit card, where the Clerk will give you a choice between paying in your home currency or the local currency. ALWAYS choose the local currency. Of course, you MUST notify all of your financial institutions and credit card firms that you'll be travelling, and you may also want to review your daily ATM withdrawal limit at that time. One point to note is that the foreign bank may supersede the withdrawal limit set by your Bank. I'd also suggest packing along a "backup" ATM card in case of any problems with your primary card (I've had that happen). You may find it helpful to have a look at these: www.summerinitaly.com/traveltips/using-atms-in-italy www.youtube.com/watch?v=P8--q-K3olA Happy travels!

They're called bancomat. If your card is linked to both a checking and savings account you need to make sure with your bank that the default account that it draws on is the one you want - you won't be able to choose from the machine. Find out from your bank if you will be charged an international transaction fee. If the ATM asks if you want a currency conversion (which I've never seen), say no. You will be able to English as your language right up front. You need a numeric PIN, not one with alpha characters. I prefer to use an ATM that's physically attached to a bank branch, as I believe those to be safer than stand-alone ATMs, esp. when it comes to card-skimming. A lot of the banks have the ATMs in a little room that you need to use your card to get into. Usually you just swipe your card, and the door opens.

If an ATM screen says something like this: "This machine offers conversion to your home currency", always say NO. And whenever a merchant gives you the choice of being charged in dollars or the local currency, ALWAYS choose the local currency. If you say YES when given those choices, your conversion rate will be set by the bank that owns the ATM or by the merchant making the offer to you - and the rate will NEVER be as favorable to you. This is called Dynamic Currency Conversion. It's perfectly legal, but it's a scam. It's sole purpose is to fatten the bank or merchant's bottom line, at the expense of yours. If you always choose the local currency, the conversion rate you get will be the interbank rate, which is always the best rate you can get.

Thanks, Tom, for reminding everyone, in language as clear as can be, what DCC is all about. While the total additional amount that the banks squeeze from an individual may not be significant, why let them do it, when it's so easy to avoid?

My 2 cents (or 3%) is to open an account at a credit union that does not charge the usual and customary (very recent) 3% foreign currency conversion fee. Your "Giant Monster Megabank", as Clark Howard calls them, invented these recently to fatten the bonus checks of the bank biggies. They'll tell you its to cover costs, but your Mom & Pop credit union seems to survive very well without them. There are other places, like Charles Schwab, where you can get an account without the 3 %.

Ken, Just to keep you up-to-date . . . We encountered the DCC option at some bank atm's in Spain in 2011. Just returned from a trip to Germany and Croatia; and some of the banks in one of those countries (can't remember which) have also hopped on that bandwagon. That particular malignant practice is spreading. It's a good situation for just saying, "no."

Hi Like at home, just go with your gut and avoid any ATM location you aren't comfortable with, just stop, and look around before committing. They are everywhere, multiples every block in some cities. I did not have any conversions questions in the seven weeks away April-May, in Italy, Austria, Germany, Netherlands, or England. I used a chipped Visa card attached to a credit union.
regards

@Rosalyn, Thanks for the information on the DCC you've encountered at ATM's. I haven't seen that yet in any of the countries I've visited but based on your post, I suspect that might be a possibility on my next trip. Cheers!

@ Ken - the Travelex ATM's at Heathrow all offer DCC, as do the Credit Suisse ATM's at Zurich airport. As Rosalyn says, it is spreading.

Was offered DCC, for the first time, when using an Italian bank ATM in Turin a couple of weeks ago. Have had it offered in shops before.

@Tom, I have no doubt that the DCC practice is spreading, which is unfortunate. The Banks are all making record profits and their top executives are paid millions in salary and bonuses every year, and yet they still want to squeeze every last nickel out of their customers. Nothing more than greed (IMO)! This is one reason why I primarily deal with credit unions. The point I was trying to make is that I have no doubt this is occurring, but I haven't yet encountered it in my travels. I tend to avoid both Heathrow and Travelex ATM's, so that may be one reason I didn't notice it there. I also didn't use any ATM's at Zürich Airport last time I was through there, but as I recall the ATM's in the city didn't have a DCC option (they may have that now though). Cheers!

We encountered DCC in Romania last fall.

If you are interested in an explanation of DCC and how it "helps" the vendor here is a link I found that tells us: (can't seem to get the hyperlink to work today - maybe because it is https:) https://www.six-payment-services.com/downloadcenter/110005902_DS_Dynamic_Currency_Conversion_ATMs_INT_EN_opt.pdf