ATMs in Italy

Go to your home bank and check with them. Ours was able to arrange for no fees. We also were able to take out 500 euros each per day (which we didn't really need). However, not every ATM would take our card--had to do some searching. Our bank was also able to exchange US dollars for Euros. I highly suggest going with a good sum and completely agree with Rick about avoiding travellers checks. I believe AAA will also exchange dollars for Euros and has a card you can load up with Euros in advance that will work like a check card.

There are not many U.S. banks that have affiliates in Italy. However, there are ATMs everywhere. The fee depends largely on your bank ATM card. Some cards have a zero charge. Others have 1%. Many others are higher. Here's a website that will explain how it all works and who charges what.

http://flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange

In the end, I doubt that you will open up a new bank account just to save a few dollars in ATM fees. RS is correct about not taking any traveler's checks. ATMs and credit cards are so much easier.

Living here in Italy you realize this is a CASH society. Italians much prefer cash to credit cards. Larry & Sam make excellent points - NOBODY wants a travelers check and ATM's are everywhere!

I have a Bank of America account I work out of from the States but unlike France and England, Italian banks have NO "relationship" with B&A - so I have to pay a ATM fee each time I withdraw, usually a fixed amount (3 Euros). At some banks, (Bank of Roma, i.e.), you must also pay a 5 Euro withdrawal fee. I agree with Larry - go to your bank website and research.

When you use the ATM's, most do not have the letters on the keypad so you have to know your # code; My wife has an Italian Banco Intesa Acct and her pin is 6 NUMBERS! Most of the primary, larger banks have ATM's that "read" your card and you can select the English option. The Post Offices here are an excellent (and safe) place to use the ATM's and have reasonable fees. Look for the yellow PT signs!

We used our Capitol One Debit Card with no problems and no fees.

Bank of America has partner banks in Italy...they are Deutsche Bank and Banca Antoniana. From ATMs at these banks one can withdraw a larger amount than non-partner banks. Of course, one must arrange to have the max withdrawal amount increased before leaving home.

I would check with Bank of America to see if these partner bank arrangements are still in effect.

FWIW, BOA now has a relationship only with DeutscheBank in Italy. But we're planning on doing the Capital One debit account so we can use our debit card at virtually any ATM without an extra fee.

What about travellers checks in Euros? Are those acceptable?
Thanks
Patricia

You can use most any bank in Italy. I used my ATM card all over Italy on many of my trips and have never had a problem. It's silly to take lots of money with you because what are you going to do with it once you get there? You don't want to carry tons of money on you.

Rick is right--travellers checks, whether in euros or dollars, are a disaster in Italy. They are hard to cash and the exchange rates are enormous. Occasionally you can use credit cards to make purchases but it's rare--it is mostly cash only. Most debit cards are accepted at almost any Italian Bank (DeutscheBank has branches there are well). I just got back from Rome yesterday and checked my bank statement. Including atm fees on both sides, I was able to get 1 euro for $1.58. The cash exchange places were 1 euro for $1.62-$1.75, so even after paying fees I was still better off getting cash via the ATMS than using exchange places.

Thanks for all the input.
I spoke to Capitol One on their 800 number today and was told they had no affiliates in Italy.
I'll try a local branch tommorrow.
Bridget