We're looking for apartment rentals in both Florence and Rome for a trip in April and while every rental will take a pay pal payment or wire transfer to secure the room, they all want to be paid in cash. I'd rather use my credit card but nobody seems inclined to do so, presumably due to the fees. I'm just not feeling too comfortable having to carry that much cash on me. Any other thoughts or ways that others have avoided doing so? I imagine that the bank fees to get money from ATM/debit card are huge as well.
Posted by
Sacramento, California U.S.A.
10737 posts
I have paid cash for almost apartment rental I have done, in Italy and other countries. It is standard practice there. The exception for me was an apartment in Barcelona, but I paid a management company not an individual. You don't have to carry a large amount of cash for an extended period. I don't know how much money you are talking, but you could start collecting the money from ATM's with your debit card a day or so before you need to pay. Stash the money in a money belt where it will be secure. The ATM's in Europe don't charge fees. I use a credit union and they charge me 1%. Some credit unions don't charge any fees. Wire transfers are very expensive and I would avoid them.
If you must pay by credit card you will just have to keep looking at apartments until you find one that will accept one. Good luck with that.
Posted by
Tresana, Highlands Ranch, CO, USA
23666 posts
Generally, the cheapest and most convenient way to obtain cash is via a debit card at a bank owned ATM. However, all fees charged for using your ATM card will be determined by the card issuer. So, check with your card issuer, now. The fees can range from 0 to 3 or 4% and sometimes a terminal fee of $1 to $5 can be attached. So check carefully. Also, check the withdraw limits for your card. We carry two debit cards attached to two different account both with $1000 withdraw limits so we can generally obtain the amount of cash we need quickly one we arrive in country.
Posted by
Alachua, FL, USA
238 posts
Bank of America now has a travel VISA with no foreign transaction fees. It's great! I get the cash for my rental from an ATM as soon as I land. Bank of America debit cards have no foreign transaction fee in Italy if you use BNL bank which is everywhere.
Posted by
Huntsville, AL, USA
8371 posts
Since Wachovia was bought out by Wells Fargo, I find W/F to have a $5 plus 3% transaction fee on ATM's. I find that excessive.
Needless to say, I'm looking for better terms at my credit union. And I try to charge what I can on my Capital One Visa account that doesn't rip you off on the exchange rate.
Remember to call your bank/credit union to make sure they open your account to foreign transactions and that the one day maximum withdrawal is increased substantially.
And has been said previously, you may have to make some withdrawals a couple of different days to pay for a room.
Posted by
Tampa, FL, USA
1054 posts
Get a Schwab checking account. No fees and one of the best rates. I had no issues couple months ago in Italy with it. My daily withdrawal limit was $1000 per day so no issues taking out enough to pay for our rooms