Euros vs. U.S. dollar prepurchase vs. ATM

I would certainly recommend getting an ATM card/debit card before your trip. It's the most convenient (and usually the least expensive) method of getting cash while in Europe. And to avoid conversion fees on credit card purchases, you might consider obtaining a credit card that doesn't charge these fees, such as Capitol One.

We too are taking Capital One because there is no "foreign exchange fee". So far they are one of the only credit cards (we found) that don't. Have a great trip Gary..we leave in September for Sicily, Amalfi and Rome and once we get all this fine tuning out of the way, we can enjoy the trip itself!

Italy is a cash society. With the exception of large hotels, almost everywhere we went, we had to pay with cash. Small hotels, restaurants, museums, gift shops: cash only. The Uffizi and Accademia in Florence were cash only. We rented apartments and stayed at B&B's that wanted cash the day we arrived. We took out enough cash here to cover our lodgings. Although the exchange rate is better with an ATM card, there was piece of mind knowing we had cash in hand to pay for lodgings. We have a $500 daily limit on our ATM card. I don't think we could have withdrawn enough cash to cover all our expenses, especially when we had to pay 350E to our B&B on our first day there.

I got my first debit card for my trip to Europe also. I was apprehensive since I hadn't used one before but all went well. I opened a new checking account with debit access(no checks) and put enough money in that account to cover the trip. I had heard horror stories about debit fraud and this way I protected my other finances should a problem arise.

Gary -I'd suggest you get an ATM card from your bank before you go overseas. Italy is a very cash intensive country. Everybody prefers to be paid in cash. The farther you get off the beaten path, the more chance that the merchant won't even take credit cards. If you have a checking account, you should be able to get an ATM card that ties to it with just a visit to the bank. ATM card work overseas just like they do here. You find a bank machine (a bancomat) in Italy and swipe you card, enter your pin (most only take a 4 digit pin, remember that when you get yours) and request the cash, then retrieve it and be on your way.

A couple of things to remember. The withdrawals are coming form your checking account so you need the cash there. Your bank may charge a fee to a foreign transaction. It can be a flat dollar fee or a percentage or both. As a result most folks tend to make larger withdrawals less frequently.

You'll also need to let your bank and the credit card folks know that you will be overseas. That way they won't lock down your account when the overseas transactions come in as a fraud concern.

In addition, most ATM cards have a daily limit for withdrawals. Find out what yours will be and ask the bank to increase it while you are overseas. A dollar doesn't go as far with the exchange rate the way it is. So $250 over here might be ok but it only translates to 150 euros over there.

Gary,

You've gotten good advice on using ATMs. Read this article by Rick Steves.

If possible, get ATM cards for you, and your significant other, from two different banks so that you each have a set. Why two banks? Because you never know when a card may not work. Also, last year, my husband and I discovered that we each could withdraw money at the same time at the same ATM. I guess we never had to do that before so we didn't know that was possible. Have fun!

Thank you all for your information. It looks like I will calling the banks and getting a quick education on ATM/Debit cards. Best wishes to you all.