Money question

Hi Mlofgreen-I always carry my "travel" atm card, and have never had a problem accessing my bank account. Remember, let your bank know you are going, and your pin number cannot-unless something has changed-begin with a zero. I also carry Euros, because I have been in two countries-Greece and Turkey-where there was a bank strike, and the banks and ATM were closed. I take a few American dollars, but generally get my Euros from the ATM. That being said-I have also purchased Euros here, when the rate was fantastic-and only used cash on my last trip. I am headed for Italy soon, and will utilize cash in most instances. Not sure how long your trip is-take a look at your budget and your travel needs to consider how much cash to carry-and pay your hotels with your no-fee credit card to conserve cash.

You'll get a variety of replies and what you ultimately decide on will be based on your comfort level. I am in the camp of taking a couple hundred of whatever the currency of the first country I am visiting is. I travel solo. I always feel a bit fuzzy when I arrive and I like to be on my game when I use an ATM. I want enough to carry me thru until the next day after arrival.

Last year in London, even though I had notified my Credit Union of my travel plans (in person) my card didn't work the first (or 2nd or 3rd) time I tried it. The first day was Labor Day here but my brother was able to call and get it straightened out on Tuesday but I was glad I had cash and a back up debit card.

Use debit cards only to get money from ATM's. Credit cards are commonly used at restaurants and hotels. You just don't see people using credit cards for every little purchase.
I've always relied on getting cash from ATM's. Others don't feel comfortable without 100 euro in their pocket when they land. I figure in a desperation situation, I can always change $100 at a currency booth.

If I need to pay for an apartment or hotel in cash upon arrival, I will get enough euros to cover that and the first day's expenses before I leave the US. I usually rely on my 2 debit cards (from different banks) to get cash in Italy. As others have stated, notify your bank before you travel. You may also want to raise your daily withdrawal limit so you can get larger amounts at the ATM to minimize transaction fees. Keep in mind that some ATM's will limit how much you may withdraw in a single transaction. If you ask for 500 and you get a message saying the transaction failed, try asking for 250 and you should get your cash.

I have done it several ways, including ordering euro for the entire trip before leaving, ordering €100-200 before leaving, and using leftover euro from the previous trip for the first day or so.

I prefer not to do math after a long flight, so I like having some euro on hand. If it were my first trip, I would order some euro in advance from my bank just to get familiar with the different notes - you can specify denominations from €5 up (I would order nothing larger than €100).

You can check with your hotel or B&B, some do not take credit cards but most do.

This is a frequently discussed question here and elsewhere. The general conclusion is that bank owned ATMs is the way to go. When I land I like having a hundred Euro in my pocket so it is one less thing to worry about. What not? The probability of finding a working ATM in an airport is near 98% but why worry about that 2% when it is so easy to avoid. In Italy we find that we use cash about 90% of the time. Hotels will often give a 5 to 10% for payment in cash so we do it. About the only time we use credit cards in the last day or so when managing our cash so that we return home with a hundred or so. And, if the hotel doesn't give a discount, then we use a credit card.

I'm with Frank: have some EUR 100 or 200 with you on arrival. One thing less to worry about. Order bills with a maximum of EUR 50. Those EUR 100 bills are a nuisance paying a taxi, and might not be trusted everywhere. Here in the Netherlands EUR 50 are the largest in daily use. (I have never had a EUR 100 bill in my hands.)

As the others have mentioned, use debit cards for ATM withdrawals, and credit cards to pay larger bills such as hotels, etc. Cash is best for smaller daily transactions.

I've found that it's a good idea to pack along a "backup" ATM card in case the primary card malfunctions (I've had that happen). At least one credit card is prudent, but I also pack a "backup" for that as well. Funds will normally be drawn from your primary account (check with your bank on which account that is), as you won't always have a choice between chequing and savings accounts.

Be sure to notify all your financial institutions that you'll be travelling abroad so they don't "freeze" your cards. You may also want to review your daily ATM withdrawal limit also (however local ATM's may have a different withdrawal limit).

I also prefer the method that Frank mentioned about Euro cash. I like to have €50-100 with me to cover travel expenses (ie: meals taxi fare, etc.) during the trip. I always have money left over from the previous trip, so always have some on hand.

One final caveat to mention. When processing transactions in Europe, you may be offered the option to process these in your home currency. This is called Dynamic Currency Conversion and it's NOT a good idea to accept that offer as you'll generally pay more for each transaction (and the banks or the merchants will pocket more money at your expense). I always choose to have the transaction processed in whatever the local currency is.

I agree with those who like to have a modest amount of local currency in their hands when they arrive so they don't have to worry about locating an ATM at the airport. I used a credit card in Italy wherever I could, but some B&B-style places and small restaurants wanted cash. In addition, I noticed that the credit card process did not allow me to add a tip for the server, so restaurant meals always required some euro cash, if only in the form of coins or very small bills.

It's a very good idea to have two ATM cards and two credit cards. I had no difficulty in Italy, but when I hit Germany, my newest credit card was rejected about half the time. Definitely carry the back-up cards somewhere outside your wallet/purse. That saved me when my wallet was lifted (due to my carelessness) in Bulgaria.

TomfromLeiden,
Paying in cash might sometimes help you in get a discount in Italy.
I do not use 100 bank notes every day but occasionally I have found them useful.
For taxis, 5 And 10 euro notes are useful.

Acraven, you can't tip servers with a credit card because tipping is not customary in Italy.

I have read several threads on this topic and still can't decide how many euros to order before departure. All three hotels are booked. I only buy souvenirs on vacations - usually t-shirts and postcards. If credit cards are accepted at restaurants my mom will use one. This is the first time we will have to use euros.

You really don't need to worry about taking cash to Italy for more than one day's expenses, and many folks here don't even do that, because they are confident about getting euros from an ATM at the airport. If you want to take some euros with you, pick an amount you'll be comfortable carrying around with you; I like to be sure I can cover transportation costs from airport to hotel, city transit for the rest of Day 1, and a couple of meals. For me, 100 euros would be generous since I use public transportation rather than a taxi from the airport into the city.

Unless I need cash to pay a hotel bill, my ATM withdrawals are usually no more than 150 euros at a time. I don't like to carry around large wads of cash in the US, either.

Acraven, how do I determine what amount covers one day's expenses?

Very helpful...thank you for your advice...in summary:
Italy is mostly cash based
Take Euro from here to cover arrival and the first day
It's good to have 2 debit cards and maybe 2 credit cards
Tell all financial institutions that I will be traveling out of the country (US)
Grazie!!

I think that if you had about 150 euro in cash with you on arrival, you would be more than comfortable. Just exchange US bank notes for euro at your departure airport in the USA. The exchange rate will be a bit sad, but that is only going to cost youba few extra dollars.

Then look for Bancomats in Italy. They are very common.

Take 100-150 Euros with you. We found the first ATM we tried to use at Malpensa didn't work. We got Euros the next day in Milano at a real bank. Considering our experiences, I would only use ATM's in an actual bank - not a stand alone ATM - sort of like here in the US. Who gets cash at a 7-Eleven?

Traveling Woman, please start another thread, the OP appears to be finished with this one.