Currency Exchange

Andrea, if you feel better having some euros in hand when you hit the ground, you can pay a slightly worse rate by calling your bank and just ordering 100 euro. You will pay a bit more (for example, when I did this a few weeks ago, I paid about 5 dollars more for the 100 euro than if I had just taken it out of an ATM at the airport) however, you will not have to wait at an ATM or "remember" to find one before hitting the Leonardo Express into the city. The difference is small - as I say, the cost of a gelato. Ask your bank if there is a way to avoid paying ATM fees. I did and all I had to do was upgrade my checking plan. I didn't pay any ATM fee to my home bank when using the ATM in Italy and the rate was about 1 euro to $1.33 US, which was better than what I paid to get the euros I carried over. Nonetheless, it gave me some comfort to have some money in hand.

You get better rates by using the ATM in Italy. Any fees will come from your bank and not from the Italian banks. I usually take 100 euros cash with me and get more as I need it when in Italy. There is no reason to take more than that, IMO. Donna

You will get a better exchange rate if you use an ATM card tied to your US checking account to withdraw euro from an ATM machine in Italy.

Even when adding in the fees that may be charged by your card issuer, a debit card at a local bank's ATM in Europe will always give the best exchange rate. And, if your debit card issuer does not charge any or has low fees, it is even better.

Be sure to notify your bank and your credit card providers about when you will be in Europe. If you don't, a computer may freeze your cards for unusual and therefore suspected fraudulent activity. Read this helpful article by Rick Steves.

To piggy back on Andrea's question, is there a currency exchange center at the Fiumicino Airport or better to withdraw from an ATM machine at the airport?

Currency exchange centers always give you a worse rate than the ATM. That is how they make a profit. If you can't avoid having to pay a fee to your home bank for using an ATM in Italy, at least take out larger sums so that you don't have to use the ATM as frequently. Ask your bank if there is any way to avoid the ATM fee. I did and was able to eliminate the ATM fee.

Thanks for all the suggestions! I have contacted my credit card company and now the bank!
:-)

And for the benefit of others reading this, it's often worth it to set up a Capital One Money Market account to use as your ATM withdrawal account. It takes a few weeks to do, but you don't have to pay transaction fees or exchange fees. Same thing for getting a credit card that doesn't charge international fees. Happy travels.

Andre, please re-read my earlier posting. Third from the top.

Andrea, you may also want to ask your bank to raise your daily withdrawal limit while you're away.

And remember that the cash machines themselves often have their own per transaction limit that will be lower than what your bank sets for your daily limit. Once you find out your bank's daily dollar limit, figure out what that is in euros. Then you'll know how much you can take out each day. And it's generally safer to use ATMs that are physically attached to a bank branch. Those are much less likely to have been tampered with. But sometimes you don't have a choice, as in at the airport. Happy travels.