My brother is taking several family members to Italy. They are staying in a large house that is well-priced for the size, but they ask cash payment for the two-week stay, which is a substantial amount - more than can be reasonably brought in or taken from ATMs.
I suggested maybe he would accept a wire transfer. What else could he do?
I've used pay-pal before. I never pay the full amount until I arrive, however, unless it's for an apartment or house I've rented before, and trust the owners. It's a shame AmEx traveler's checks are no longer used, because this would be the perfect time for them.
A wire transfer may also work, for perhaps half in advance and half on arrival.
I have used my bank or credit union here in the states to buy a thousand or so euros, and my husband and I divide it up as we travel, and your brother could do that as well since he's taking a larger group with him. I would insist, since it's MY money, that it's not in a purse or wallet worn in pants:
When I travel to Europe, I use a "neck wallet" that holds my credit cards/passport and larger amounts of cash, and it is worn under my blouse. After 10 years and multiple trips, no problem. In my day bag I carry enough cash to get me through the day.
Very common for cash payment to be requested. We had the same issue on our visit to Rome. We decided to order the entire amount in euros from our bank in Canada and take it with us to Rome. It was a substantial amount of money to carry for one person but if many people are travelling the money could be divided among the group. Bringing the money with us was a great way to handle this problem.
Ask if they take a wire transfer. Bank wire transfer are the most common mode of payments in Italy, much more so than credit cards. I take care of all my Italian family business transactions that way (I also hold Italian bank accounts). The Italian word for bank wire transfer is BONIFICO BANCARIO. You will need from them their bank Swift Code number and the IBAN (International Bank Account Number), a 16 digit number that is the standard for EU bank transactions. Unfortunately if you don't have a European based bank account there are international wire fees charged by the banks (a flat fee plus about 0.1% to 0.2% of the amount).
If they don't accept a wire transfer and want pure hard cash, they may be breaking the law and they are probably trying to evade taxes. Payments for goods and services over 999.99 euros made in cash are illegal (even if split into separate payments of lower amount but still pertaining to the same business transaction). Payments above 999.99 euros must be made with bank transfer, credit card, debit card, ATM card, check, or any other mode that can be traced by the tax authorities, not cash.
If the owner/landlord will take a bank draft in euro, open an account with XE Trade. Money will be taken from your checking account by electronic transfer and a bank draft will be made payable to the person of your choice. You can either have the draft mailed to Italy or have it mailed to your home so you can take it with you and hand it over when you arrive. The exchange rate will be only slightly higher than the international rate on the day the transaction is initiated. There are no fees so it will be much cheaper than a wire transfer. For security reasons it takes a little time to set up an account, but everything goes smoothly and quickly after that.
