Bringing Euros to Italy

Is it wise ?? Not particularly. ATMs, even with fees, will be the cheapest and most convenient way to obtain foreign currency - always. Of course, an even better deal is to find a debit card that does not charge fees -- many are available. Unless you have access to some super deal for Euro in the US, you will pay between 5 and 10% for Euro in the US - well beyond bank fees for using your debit card in Europe.

Your question is one of the most commonly asked on this and other message boards. Check the archives. Personally I'd NEVER travel that much cash, Always withdraw from ATM's via debit card and carry a Capital One credit card. Usually take out $300 in euros, stuff it in the moneybelt and enjoy my travels. I'd freak out carrying more than that. 25 trips from age 25 to 60 to Europe. Never a problem.

I called my bank to inquire about fees and maximum daily withdrawals. They were very helpful and suggested a banking "plan", which had a higher average balance (but which I maintained anyway) and which had the benefits of no fees to withdraw anywhere in the world (italian banks do not charge an ATM fee) and they increased my daily withdrawal limit to $1000 per day. More than enough! I also have a Capital One Venture card, which doesn't have foreign transaction fees. I have no qualms about landing it Italy without any euros in my pocket and hitting the ATM and then having fun. All of my hotels also offered discounts if I paid in cash and that difference will buy alot of gelato!

It will not be cheaper to purchase euros before you leave.

Assuming with your screen name you are from Forestville in Sonoma County. Wells Fargo in downtown Santa Rosa sells Euros (they keep on hand) for a $5 fee if you don't have an account, and free with an account. The exchange rate will not be great, but I plan on buying about 300 Euros to cover our first 24 hours. Especially since we are arriving on a Sunday and the first night is in a small town with a weekend festival. (who knows, ATMs might be cleaned out by Sunday evening)

hello: thank you everyone. I do know it isn't wise to cash in your entire budget (or even a large %) for Euros before you go....and we won't...all your suggestions were mainly for my husband who isn't a traveler and was trying to beat the bank fees. Thanks again. I appreciate everyone's time.

"and was trying to beat the bank fees" This is like finding the Holy Grail!

I think that many have a real hang-up with "fees". True, seems better to have "no fees", but I would rather pay a small fee and get a great rate than no fee and pay a crappy rate. In the end, the measure is what it cost you in Dollars to get 100 euro, not what the fee may have been. As an example, for years I withdrew from ATMs using me Credit Union account. No fees, and the rate looked very good, basically little difference from the Interbank rate. A few years ago, the Credit Union started indicating fees on foreign transactions. At first I lamented the end of a good thing, but then I noticed the total cost was no greater than in the previous years. In essence, I had always been paying the fee, just that now they were telling me the amount.

I took my entire travel budget to Italy in Euros, and had no worries at all. Frankly, I thought the euros wanted to go home and I was their escort. Just keep separate money for the day so you're not counting through wads of cash every time you need to pay for something. I was gone for 11 weeks, and didn't want to worry about the exchange rate (which I tend to fret over), the magnetic strip on the ATM card, etc. The main thing is to do what feels best for you. Which gives you more peace of mind, knowing what your money is worth or not worrying about carrying it around?

Another way to get Euros at the exchange rate for the day is having membership with AAA. I was able to get Euros 1.52 vs 1.00 USD. Free shipping to your address in two days. Great!