Exchange

They may not even do that and if they do, you will pay big fees. Take money from your own bank account simply by going to an ATM. Let your bank know you will be in Italy during that time. ATMs are as prevalent there as in the US, and maybe more so.

To be absolutely clear, if you insert your US ATM card in an Italian ATM (known as a "bancomat"), it will dispense euros, not dollars. You will be able to select English as the language to be used during the transaction, and you will use the same PIN you use in the US. But it is important to notify your bank of your travel plans so it knows that you, rather than a crook, are behind the transaction.

It is unfortunately possible that the bank will not make the necessary computer change, despite your best efforts. So be sure you are traveling with a telephone number that can be used from Italy (not a US toll-free number; that will not work) to straighten out any problem that occurs. It's even better if you have two ATM cards, for two separate accounts. That gives you a back-up in case there's a hiccup on the first card.

If you want to have some euros with you when you arrive in Europe, you have the option of seeing whether your bank will get them for before you leave home. In percentage terms, the bank's fee will probably be pretty substantial, but in dollars it's unlikely to be significant as long as you don't buy too many euros. I don't like to carry much cash with me anyway--maybe about 100 euros per person--just enough so I don't have to look for an ATM at the airport.

The way I look at it, when you exchange cash for cash, you are actually buying cash. Whether you buy € here or over there with your $, the entity that sells the € needs to make a profit. It is not a free service.

As previously stated, you may not be able to find an Italian bank willing to buy your $ with € at all. You will be able to find bank ATMs easily, by far more easily than finding a toilet.

If you use an ATM to withdraw money, you are taking it out of your account. If you use a bank ATM in Italy to get €, you will not be charged by it unless you opt for DCC (Dynamic Currency Conversion). Don't do that!

Your home bank may charge you a variety of fees, so you need to find out about those, along with your daily withdrawal limit, when you inform your home bank that you'll be using your credit and debit cards in Italy.

Go here -- https://www.ricksteves.com/travel-tips/money -- for the full scoop on money in Europe.

The only thing I would locate is an ATM machine. You don't want to "exchange" money - it will come at a premium.

Italian banks are very likely to refuse any transactions for someone without a bank account. Bancomats are your best bet. I try to go during banking hours, in case the machine eats my card, they will retrieve it.

The last time I actually exchanged money at a bank (I think it was 2007), the fee was 3%. Now you might have difficulty finding a bank to do it. A currency exchange will be worse. Just plan on getting your money from an ATM (make sure you tell your bank that you will be traveling and when so they don't block your card).

The short answer is yes. The entity (bank, exchange bureau, or travel egency like Amex) will charge you a commission fee to exchange you US$ into €.
If you use your ATM card from your home bank, as suggested above, that commission will be less, so it is more advantageous to use your ATM card than to use $ bills.
Just remember to notify your bank that you will be traveling overseas, so that they don't block your card when they see transactions overseas, as they might think it's an unauthorized fraudulent transaction (just call the customer service number printed in your ATM card).

Good advice above. If you have more than one account with ATM cards then you should check with them regarding fees charged for foreign transactions. In general the banks charge fees, i.e. 3% and $5 per transaction. Credit unions, Capital One, Charles Schwab are all reported to charge minimal to no fees. I use a credit union. They don't charge a fee or it's so small that I can't tell.

Already some good advice. I (a nearly broke backpacker) traveled for four months in Europe. No matter which country I was in I used my regular ol' debit card in the ATM. The exchange rate was only a cent or two more than market and if you use the right card (heard Schwab as a great one) there may not be any fees.

I used my card for hotels and purchases over 50euro (like train tickets) and then took out the daily limit on my debit card (about $300us) every couple of days.

I am going again in a week. My mom really wanted to bring euros so I shopped around and found the best rate at Wells Fargo (bonus that I work in the building with a branch). The rate was $1.18 to 1 euro (wow) there was a fee of $7.50us but if you buy a bunch of euro all at once the fee makes sense. If you are really cheap like me you find a friend who banks at Wells to buy your currency for you and they waive the fee. Call a few of the bigger banks near you, ask if they have euros and what the rates and specials are...have a paper and pen handy to keep track. When you find a rate (or really the total us dollars to euros back) that sounds good ask them to hold a certain amount for you. You can use your bank card but it is just as easy to withdraw from your bank and bring cash to the exchange counter. Also, check their hours sometimes the exchange specialist is not open as long as the rest of the branch. FYI TravelEx is not part of the bank although they have a booth there. Their rates are not horrible if you are in a pinch while abroad but if you have time it is easy to call around and find a better bank rate. You can also Google the day's exchange rate (ie the international currency exchange market) and compare your research to the actual rate of exchange the difference should be in the range of 0 to 30cents more...any more than that...keep shopping.

BTW I was surprised that they asked for two forms of ID and it took a while for them to put all the info in the computer. He said even for the $603us (505euro) I got the government keeps track. Note the whole number of euros I purchased and the odd number of US dollars. That is because you can buy coins nor exchange them back here or abroad. Before you leave use coins to tip the chambermaid, taxi driver and buy souveniers at the airport. You can also give them away to children as they are arriving from other places. This is a tradition that I started when I was 13 in Canada. I just look for a child with parents, tell them I am leaving the Eurozone and hand off my coins. Not usually more than a dollar or two.