Exchange Money Before We Go?

My husband and I get several hundred dollars worth of euros from our bank before we leave and divide amongst the two of us. That way we don't have to worry about money for the first few days. From then on we use the ATM's when we need cash and charge everything else. Never had a problem finding one in all the towns we've stayed in -Tuscany, Umbria and the CT.

Using an ATM is almost certainly going to be cheaper.

Using an ATM all the charges will come from your own bank, usually a percentage added to the exchange rate and a per transaction fee, this make it quite easy to work out how much using an ATM will cost. You can compare this with any quotes you get to change money in the US.

Even though it costs more some people like to change some money before they arrive; other people think this is the craziest thing ever. You'll probably get both responses in a while - it's a strangely passionate topic here.

Get a Capital One Money Market account with no transaction fees and no international fees. They even pay you interest for your money. Then use the card once you arrive to take out as much money as you need.

there is no doubt that you get a better exchange rate at an ATM than at a currency exchange, AAA, etc. There are many banks that will not charge you for getting money from an ATM abroad; European ATMs doe not add a fee of their own.

However many travelers, me included, feel more comfortable landing with some cash in their pocket so they can buy small items, take a taxi or buy a train ticket from the airport to downtown, etc. I would suggest getting about 100E in advance, which should be more than enough to get you started.

Buying Euro in the US can easily range from 5 to 10%. Worse case in Europe via a debit card/ ATM is 3% and can be as low as 0 depending on card issuer. I think it is a good practice to land with 100 or so Euro in your pocket just so that is not the first thing you have to worry about. I generally have about 150 saved from the previous trip. However, taking the first week's worth of cash is a bit excessive since you will pay a high fee for that convenience.

Don't be foolish by taking so much cash with you. Take $100 - $200 tops. If anything happens and you lose the money you will hate yourself for taking it. ATM in my opinion is the only way to go. Just inform your bank that you will be using your card in Italy so that they don't stop any of your transactions.

When you arrive in Italy, find the first ATM and get some cash there. Depending on your banks fees, you might take as much as you can first time out.

We use Compass Bank, no ATM fees anywhere in the world.

We use Capital One's credit card (only for travel) they have no fees for exchange rates. I use the credit card to pay for hotels and meals. (I use my Milage Plus credit card at home, but not overseas - due to the fees they apply)

I tend to use my cash only when I need to, so I don't take that much out. I budget for travel and pay my credit card bill in full when we return. The credit card gets the hotel bills, larger purchases, etc. I use the cash for entry fees, gelato, cafe meals where a credit card is NOT welcome.

Now that we travel almost every year, I bring home my left over Euro and hold onto it for the next trip, that way I come into Europe with 10-20 Euro. I still stop at the first ATM and get $200-300 Euro to start our vacation. In most cases, this cash lasts us for 2 weeks! Once in a while I have to revisit an ATM for a bit more. The plan is to come home with almost empty wallets.

I'm flying into Fiumicino Airport in Rome, is there an ATM there?

I ussually to have about hundred or so local currency on me before I leave.

Holly, of course, there are ATMs in the airport. As everyone frequently posts, ATMs are as common in Europe as in the US,

Holly:

My take may be a little different than others. When we get on the plane I have at least one thousand euros on me.

The reason that I like to do this is simple - I am traveling to a foreign country - when I get there - no matter what - I will have enough coin-of-the-realm in my pocket to survive for a few days.

Yes the ATMs work great - they are everywhere - especially in Italy. I have never had a problem with one when traveling there. But what if I did? What if my card won't work for whatever reason? At least we can get by while the problem is being solved.

In our travels we prefer to pay cash whenever we can. But I bring credit cards - (only used once on three long European trips) - just in case. The same reason I have lots of cash at the start of my trip - just in case.

It may end up costing me a few extra bucks (my bank here gives a good exchange rate and does not charge me a big transaction fee) but it pays me back in peace of mind.

Just my humble opinion -

Have fun.

There are ATMs everywhere! I would just find an ATM at the airport & get 150 or 200 euro, then find another ATM when you run low. For peace of mind, I opened a checking account for my trip & mainly used that debit card. I also had my main checking account debit card & my second credit card in my travel partner's money belt as a back-up.

Holly, what you are learning is that it is a peace of mind issue -- you personal comfort level. Jon is willing to pay an extra 40 to 50 dollars for his insurance policy. A very small percentage of the total trip cost. I remember very well the first time we decided to go solely with debit cards and min back up cash. And the sever panic that set in when the card failed to work on the third ATM that we used. Until I found the fourth ATM that worked I knew we had make a big mistake and would be living on the streets in a foreign country. Our early experience was that about 1 in 5 or less ATM don't work for some reason. To minimize problems I always try to use an ATM that someone else just used. (If it works for them it should for me.) Second, most of the time we use a ATM attached to a bank during open hours. Assume that those machines are in better repair and have more money. I don't we have ever found one of these ATMs not to be working. We do avoid the stand along ATMs outside of the airport.

Have never had any problems withdrawing cash in Italy or any other country. Just returned and withdrew large amounts of cash to pay for accommodations. The machines will limit the amount you can withdraw regardless of your bank limit.

We got a couple hundred euros before we left and this did cost more money. When we got to the airport in Rome and tried to get more the ATM wouldn't work - I got stressed out of my mind!!! But, then I used one near our hotel and it worked fine. I, like another poster, usually tried to use ATM's right after someone else used it. First, then you are sure it will work and second then you are also sure that there is no piece of plastic in there for scam artists to get your card. We had no other ATM problems and that was the way to go.

Make sure you tell your bank you are going out of the country, and then check again the day before you leave.. Otherwise you may not get any cash when you get over there! Also might want to increase the amount you can withdraw.. I would get some Euros stateside just for peace of mind.