Euros

Pardon me. I just read some information about obtaining Euros in the "Frequently Asked Questions" portion of this forum. This information appears to be just what I need. Thanks.

Yes but only from a bank owned ATM machine. There are a number of non-bank machines and you’ll lose 7% on the exchange rate by using them. Or you can wait till you get to your destination to find one. If you really need euros, get a minimum amount if you can’t locate the bank owned machines. If you ask at the info points in the arrivals area, they can direct you to a bank owned ATM.

Phillip, Thank you very much for your help. Do you suppose I would find a bank-owned ATM in the FCO airport ? I will also be in the Toronto airport enroute . Thanks

Phillip, I will take your advice and inquire about a bank-owned ATM. Thanks

Just avoid ATMs()Bancomats) that have anything to do with Travelex. They will screw you on exchange.

Thank you, Peter. Gary

The Toronto airport will be of no help for this trip -- Canada uses their own dollars, not Euros.

But, yes, getting Euros from an ATM at your arrival airport in Europe is not a bad thing if you use one of the bank operated machines. You will see the bank's name on it. One thing to be cautious about is if the ATM offers to charge you in your home currency (assuming US dollars) -- just say no! This is called Dynamic Currency Conversion and allows the ATM operator to use whatever rate they choose. It will not be in your favor. Also many shops will do the same when you use a credit or debit card. Once again, insist on being charged in the local currency (Euros for most of Europe). Don't worry, by the time the withdrawal or purchase shows on your statement it will long have been converted to your home currency. The card networks do that for you at the best possible rate.

The other thing worry about is what fees your bank is going to charge you. Some charge $5 plus up to 5% when you use your debit card to get cash from an ATM outside the US. Check with your bank and credit card issuers. Depending on when your trip starts, you may still have time to get a debit and credit card from a company that doesn't charge fees. I use Capital One 360 for debit and a Capital One credit card for credit. Neither charge any fee for use in Europe. If you can't or chose not to open a fee free account, plan your ATM withdrawals to minimize the per transaction fees, if any, your bank charges.

Mark, Thank you very much. I appreciate your useful indormation.

Review the "money and ATM scams" here and on other travel sites. Also, do searches on card/ATM skimming and altered ATMs.

Try to use ATMs inside bank lobbies/entrances versus the ATMs out in the open. Inspect the ATMs carefully for signs of tampering. Also, if traveling with companions, have them stand behind you facing towards the public to deter people from shoulder surfing or using selfie sticks to record your PIN.

One last bit of advise, know your credit card PIN so you can use it for chip & PIN transactions if necessary. When I was there in 2015, virtually nobody would run an old fashioned signature transaction...

You can try buying Euros in your home country before you go on your trip. Just search the internet or use XE.com to see what is the prevailing market interbank rate (the rate used by banks when they trade in millions of dollars). Then search for local currency exchange outlets in your home city and compare their rates with the interbank rate. Make sure you ask if there is any additional commission or fee on top. You may find a very competitive exchange rate without fee. For example, in Vancouver i pick up currency from VBCE which is only about 1.5% over the interbank rate and no fee. It is nice to have Euros in your pocket when you land and not have to worry about lugging your luggage while jetlagged looking for an ATM in a strange town.

Except for the very rare problem at a vending machine, I have had only one issue using my chipped credit cards without PINs in Europe--over 400 days in fifteen countries since 2015. The chip is read and--usually but not always--the device tells the store/restaurant/hotel employee to ask for a signature. In England I'm usually asked to hand over the card so the two signatures can be compared; that seems to be a requirement of the card networks in that country. I had one oddball experience at a non-chain restaurant in London, where a server claimed its card processor would not allow it to take a chip card with a signature. I have no reason to doubt her veracity, but that goes against the conventional wisdom.

Vending machines vary; nearly all that I've tried to use have taken my card without any fussiness; a local-bus-ticket machine in Warsaw would not accept it. Other posters here have needed to key in their real PIN or a random number. Some have reported being able to simply press the Enter button at the PIN prompt, I think the best approach is to try your card in the machine but realize that it may not work, so you should always either have enough cash available or allow time to go to a staffed counter.

Great advice. I appreciate everyone's assistance. Thank you.