Need Euro Cash For Southern Italy

Hi Jay, I wouldn’t pick up any Euros at an airport or a train station. Too many of those are ATM’s with bad rates & also out in the open to passerby's. Go to an ATM at a bank - some place where you go inside a door to make the transaction. Wait until you are close to the date and still at a larger city. And place the cash in a money belt you are wearing under your clothes, so there’s no risk of carrying it.

Avoid any Euronet or similar ATM’s that charge high fees. And be sure to read about DCC ahead of time to carefully choose the right option; sometimes the way they word it, you need to select “yes” or “no” to receive the best rate.

At some level, I don't think it's worth worrying too much about the exchange rate
or service fees. That assumes, of course, that you are using a bank ATM card, not
a credit card, and withdrawing against an account that you have back in the US.

With that, the differences are miniscule. In some places, ATM's are advertised as
fee-free. But many on-line banks that have no brick & mortar refund ATM fees
anyways.

As for banks, if you have an account with a bank in Italy, you can obviously withdraw
funds from your account. If you don't, the best you can do is use the ATM in the
front. Obviously that will in most cases be as good or better than withdrawing from
the ATM at the bus depot.

The safety factor of carrying around a large amount of cash for a period of time is
definitely worth considering, but that is distinct from concerns about the exchange
rate. I think that you may hit a daily limit as to how much you can withdraw as well,
so that would be a factor if you need 1000+ EUR.

Right, Jean. You always want the exchange to be in Euro, not dollars, and sometimes they 'warn' you like you're doing the wrong thing if you don't accept DCC.

Use a machine attached to a bank displaying the Bancomat logo, which is the system used by Italian banks. There are also machines saying ATM, usually attached to shops or airports, which are part of the Euronet network, a Kansas based company. Do not use those, as they give lousy exchange rates. They are basically tourist traps, like those money exchange shops you see in tourist areas.

I’m leery of merchants requiring payments in cash, since accepting digital payments is mandatory by law for all merchants in Italy. This person is probably trying to dodge taxes, and to me that is a sign of a shady business.

I’m leery of merchants requiring payments in cash, since accepting
digital payments is mandatory by law for all merchants in Italy. This
person is probably trying to dodge taxes, and to me that is a sign of
a shady business.

You're probably right. However, I must say that in the US for many decades, the phrase 'discount for cash' was unwritten but pervasive, and utilized. And you realize it's been the same in Europe for decades as well. It's how I bought many large-ticket items, or I would get a discount by paying cash for services provided. For urban ethnic Greeks and yes, the Italians in cities (I am Italiano BTW) it was at times standard operating procedure. Restaurants were notorious for it. Not so much now in this country with powerful microprocessors checking back between debits/credits. It's just harder to get away with it, and an actual risk. So most don't do it anymore. Some businesses here are actually going cash-less, which is a completely insane concept to me.

Fortunately, I can guarantee these are both legitimate businesses in Italy because I've dealt with one before, and another comes with a personal recommendation from a friend in Italy who has dealt with them many times. Bottom line is that I'm being charged fair if not discounted prices compared with the going market for these services, and who knows? Maybe they like depositing cash money into the bank!

Just a few other thoughts in addition to the good advice already given -

Most European banks will not deal with anyone who is not an account holder. But you can use their ATMs (bancomats). They may or may not have a fee for out of network users. They WILL have a transaction limit, which will in all likelihood be much less than €1000. Your debit card may have a transaction fee for out of network use, depending on the type of account you have. And your card WILL have a daily limit on cash withdrawals. You may be able to increase the limit by talking to your bank. All this to say that you will most likely need to make multiple withdrawals, but any fees charged will be small change in the long haul.

As for carrying a big wad of cash around- that's what a money belt is for. As Gandalf was fond of saying "keep it hidden. Keep it safe". And if there is another responsible adult traveling with you, give half of it to them to keep in their money belt.

You will save 3% if your debit card is not subject to a foreign transaction fee - Capital One debit cards, for example, don't levy the fee - would require a Cap One checking account.

The one time I tried to get my daily Euro limit at an atm in Italy, on a U.S. miitary base and after notifying the bank prior to the trip, my card was locked; I believe it was €400. I needed to call the bank to get it unlocked. Although I had set a travel notification, the bank had locked the card because of the large amount all at once.

There is often a 250 euro limit imposed by the European bank on a single transaction, so I would plan to go 4 times to get your required cash. And do use your money belt!

Acceptance of credit cards is the first filter I use in selecting lodging and restaurants. Perhaps I'll need to put that on hold, at least for restaurants, in Puglia. But I never use cash unless it's absolutely necessary. Just safer, in many ways.

Certainly I don't use ATMs that aren't connected to banks. Euronet is better than Disney at hoovering out one's pockets.

I go to my local bank and get whatever currency I'll need before my trip.

I go to my local bank and get whatever currency I'll need before my trip.

Same here - until I found out that my boss, a frequent traveler to Europe, is willing to sell me Euros and/or GBP's at the same exchange rate that he paid to Bank of America.

Estimated--

I am going to check with my bank and find out what their over-and-above fees beyond the going exchange rate are. Might be less hassle just to do it here beforehand and be done with it, rather than withdraw multiple times in Italy.

But then for sure I'll be employing the money belt. I've used them on past trips and really don't like them very much, although they are effective. Off-topic a little bit, but I'm wondering if a vest like this would serve the same purpose:

https://www.scottevest.com/products/best-travel-vest-for-men

My husband and I use Scottevest's on all our trips. If this is a summer trip, make sure you get the Featherweight styles. I also buy them on EBay, so many have only been used once or twice. They do run small, so carefully check the measurements.
That being said, I still wear a silk neck wallet under my clothes for my passport and extra credit cards, etc. The one issue with any vest, even with inside pockets, is if you remove it while in public. Then you lose some of your security. However, the multiple inside zipper pockets are very nice for phones, etc.
I see that you are male, but please don't be put off by a silk neck wallet. An OP here recommended it. They come in black, and the silk makes them very comfortable, and the straps are thin.
This spring, 2024, we were able to take out 500 euros at a time at a bank atm. There was a set service fee from the foreign bank for each withdrawal , so it made sense to withdraw more money fewer times.
Wonder what the excursions' responses would be if you let them know they are required to take credit cards?
Whatever you choose, have a great trip.

I went to my local bank to just get some starter euros....they did hit me for an 8% fee, but it was not a lot for some pocket cash. We will use credit cards everywhere possible of course, but pretty much any bank should have a bancomat. You'll be fine.

I have an Italian bank account with Banca Intesa San Paolo (Italy’s second largest bank) and my daily withdrawal limit is 500€. My mother, when she was alive, had the same limit with Fineco Bank. I think it is possible for me to arrange to increase it to 1,000€ but you should assume that is the maximum you can withdraw at once is 500€. I think most Italian banks have that limit. Your American bank may also impose a limit of $500 or even lower. A friend of mine traveling with me and my wife last month wasn’t able to withdraw 500€ at my bank’s bancomat until finally he was able to withdraw a lower amount.

PS: Puglia must abide by the same laws as the rest of Italy. Merchants must accept digital payments. Every restaurant and hotel I used last year in Puglia took my credit card. I uses cash only for small purchases (like an espresso or similar) just for convenience, but I noticed lots of Italians were using their debit cards for small purchases too. Of course there are tax dodgers everywhere who will try to ask for cash only. They will not be at restaurants or hotel desks (too risky as there are many patrons around), but they are likely to be apartment hosts, taxi/limo drivers, or other individuals in transactions where there are no eyewitnesses around (who sometimes might be Guardia di Finanza agents in plain clothes, the police agency in charge of tax compliance).

Thank you, Roberto. I was unaware that Italy requires vendors to accept credit cards.

It’s a fairly new law, I think enacted in 2021. At first it was mandatory for payments over 60€, but since 2023, acceptance of card payments is mandatory for any amount. I think Italy is the only EU State that has that requirement in the law, but since Italians are renowned for being serial tax dodgers, the government had to do something about that.

I haven’t traveled in southern Italy in a while, but I’m skeptical that the shift towards cards hasn’t pervaded everywhere you’ll go. Plus, the idea of carrying around a lot of cash seems unnecessary and potentially risky. A money belt or a hotel safe is just a different thing to worry about, IMO

I take out €2-300 at a bank ATM for situations like markets and small transactions.

I am in Italy now. Banco BPM seems widespread and charges little or nothing in ATM fees.
As for cash vs. card, as elsewhere, electronic payments seem to be on the rise. I had dinner last night at a Rome trattoria that seemed to have a heavily local clientele and I was seated near the front where I could see how people were paying. It was mostly by card. Rome public transit has also recently added tap to pay, which is brilliant. Florence and Tuscany have tap to pay, too.
As a budget traveler, I’m still paying mostly by cash for food and small purchases.
Enjoy your trip!

Revisiting: we used cash in Italy (including remote regions of Puglia) for only one purpose, tipping our Pompeii tour guide. Everywhere else was tap to pay.

I use Wise. You get an ATM card and create an account online. The exchange rates are the best i've seen anywhere.

@jphbucks-when we were in Puglia, in 2022, even very remote areas, all places took cards. It was tap and go all over the place. I didn’t use my cash once in 10 days even though I brought euro with us from a previous trip, I carried it around all that time. Last year and in 2023 I didn’t even take out any euro the entire 16 days in Italy and Greece. Even the smallest islands all take cards.

I travel to europe for a month at a time in the spring and November (my birthday month and at my age one day does not cut it--only a month in europe). Was in Southern Italy for November 2024, mainly Puglia. I book my apts with booking.com so that is an automatic credit card payment, I prepay for long distance travel by bus to get the seat I want or train tickets early as the prices rise the closer to the travel date. I book apts to have prepared meals or very easy meals, so that really leaves euros for coffee, gelato, trinkets, beverages and I always use euros. I was never a big credit card user so don't feel inclined to use a cc for a 3E ice cream or coffee.

I don't think your vendor is shady. Like in the US, cash is king especially since there is an added charge/fee to the vendor for accepting credit cards, it's a processing fee and can be up to 3.5% in the US. We had a small business and mostly took cash for years, easier to deal with, no processing fees I would have to pass on to customers so I could keep from raising prices on my customers. We slowly had to add accepting credit cards as more people were using them.

I don't think your vendor is shady. Like in the US, cash is king
especially since there is an added charge/fee to the vendor for
accepting credit cards, it's a processing fee and can be up to 3.5% in
the US. We had a small business and mostly took cash for years, easier
to deal with, no processing fees I would have to pass on to customers
so I could keep from raising prices on my customers. We slowly had to
add accepting credit cards as more people were using them.

I know my vendors aren't shady--like I say I know one of them, and another just started their driver/guide business and are a friend of a friend. So I plan to pay them cash in Euro. I am checking with my Chase branch to find out what the fees would be. With a current exchange rate of 1.03:1, that is certainly attractive and if the fees are low I may jump on it soon, even though I'm not traveling for 7 weeks yet.

And...over the last few months, in this country more & more (at least in the Midwest) I am seeing establishments stating by their cash register or on restaurant menus they will be charging 3-4% for credit card usage. Don't know whether that could be considered a discount for cash or an upcharge for credit...

Surcharges for card use are more and more common. It's region by region in the US. We always carry cash to avoid this. I see nothing wrong with merchants charging for the convenience of the card. I would imagine this will spread and be quite common in 5 years, since the cards are now quite rapacious in their fees.

since the cards are now quite rapacious in their fees.

I'd have preferred to see it phrased something like "since the cards are now quite rapacious in their fees in parts of the USA".

In the UK, for example, the fees are well south of one percent in most places for most transactions - that is less than the fees charged by banks to deposit cash.

I only mentioned that I DIDN''T think your vendors were shady was because Another posted stated that "THEY" thought the vendor was shady by wanting cash.

From what Europeans have posted on this forum, it appears that--at least in many countries--credit-card fees charged to merchants are so low they may not exceed the cost handling cash (counting it at the end of the day, making sure adequate change is available at the beginning of the day, etc.).

I don't have an objection to a reasonable surcharge for credit-card use. Don't get me started on what I'm starting to see in the US (looking at you, Boston): restaurant surcharges allegedly earmarked for kitchen staff or to help cover operating expenses.