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Should I get euros before I leave for Italy?

I am going on a 2 week trip to Italy. Should I go to my bank before I leave and purchase euros? If so, how much money should I take in euros and how much in US dollars? Or should I just use an ATM in Italy? Any help is greatly appreciated!

Posted by
10344 posts

Some contributors here will say take no euros and just use an ATM at the airport to get euros to pay for your taxi fare and first night expenses. Don't assume that the taxi or other transportation from the airport to your first lodging can be taken care of with your American credit card.
Others here will say bring a few euros with you, get them from your bank or AAA, you will pay a premium for these (compared to ATM rates) so only take as many as you think you will need the first day or so.
It depends on how confident you feel about finding at ATM at the airport that works.
I'm with the latter group, I take a few euros with me.

Posted by
926 posts

We always take at least 200 Euros in cash to arrive. For us, this seems to be a good number.

Posted by
13800 posts

I'm on the 1/2 that Kent refers to that takes some Euro with me. I take enough to pay for transportation from the airport to town plus a meal or 2. I travel solo and don't want to mess with an ATM until I am functioning better than I usually am when I get off the plane.

You should not take any US$ to change as you will get an even worse rate.

Use the ATM locally when you get there, after having notified your bank of your travel plans. You will need to decide if you want 100-200€ in your pocket when you land, knowing that purchasing that money in the US will be more expensive than if you get it directly from the ATM or if you feel like you can manage working an ATM right after you land.

Posted by
80 posts

I like to take a couple hundred with us. That way we have cash for transit, a bottle of water in the airport, etc., and don't have to worry about finding an ATM when we first land and are jet lagged. A lot of major banks stock cash or can easily get it for you. We called our local Wells Fargo branch about a week before we went on our last trip, told them how much we wanted and when we wanted to pick it up, and they had it on hand for us. Another tip...check with your bank to see what your daily cash withdrawal limit is and increase it before you leave if needed. Mine was lower than I thought and I wasn't able to get as much out as once as I would've liked...meant more trips to the ATM and more fees!

Posted by
5697 posts

As to how much to take in US $ -- make sure you have enough to get home from the airport when you return!

Posted by
5187 posts

Hope,
You may want to read this for detailed info about money: http://www.ricksteves.com/travel-tips/money

I usually take €100 just so I don't arrive empty handed, so if I want to buy a snack/meal, train ticket or take a taxi on the day of arrival, & this way I don't have to stress if I don't find an ATM right away.

  • I'd suggest taking 2 debit cards ( separate accounts) just in case.
  • I always try to use an ATM attached to a bank (during business hours) just in case the machine decides to 'swallow' my card-- this happened to me in Greece.
  • You may also want to increase your daily cash withdrawal limit (dcwl) as most banks charge a fee per transaction, so by increasing your dcwl, you will be able to withdraw a larger amount & thus make less transactions.
  • Don't forget to notify your bank regarding your travel plans (dates & countries)

Have a great trip!

Posted by
752 posts

Google shows that $1.09 buys one Euro today. Your bank may add a few cents fee onto each Euro you buy. Ask your bank for the total cost of each Euro. Buy enough Euro to pay the hotel bill, buy food, and pay transport.

I do this all the time. Love the freedom it gives me.

Posted by
635 posts

Just arrived in Rome yesterday. First ATM we found at the airport didn't work; a second one (Terminal 5, near the escalator to the train station) worked fine.

Posted by
15560 posts

How many of the posters who say "I take euros with me from home" are actually buying them in the U.S. before a trip and how many are taking cash they brought back with them in anticipation of their next trip?

Just askin' . . . .

Posted by
13800 posts

Me, the first few times I went. I purchased both Euro and GBP ahead of my initial trips to the area. Now I do try to have some left over, but if I am not up to my 150 or 200 comfort level I will purchase to get to the amount I like to have. For instance, I'm headed to UK in the Fall. I just checked and I have about 70£. Once I decide what mode of transport I will use from the airport, I may go ahead and get another 50 or so from my local bank. Can I manage on the 70£? Of course. Will it cause me anxiety? Maybe, but I will do whatever I can to manage any anxiety on my part.

Posted by
7049 posts

I always use the airport ATM to get local currency - no matter what country (Turkey, Mexico, Italy, Germany, Canada, etc). I don't have any anxiety over it, but others may (so they pay a bit of a premium to alleviate it). If you have to get cash beforehand, get as little as you can - just to get you to the local ATM where you can get a better exchange rate.

Posted by
1625 posts

I am paying for an apartment in cash on the day we arrive so I am taking the rent plus an extra 200€ for incidentals and to pay my pre-arrianged transportation. If I did not have the apartment I would just get my euros at the airport on arrival through an ATM.

Posted by
1018 posts

We always return home from Italy with 200€, or so with the intention of using it for the next year's trip to Italy. We never use the ATM's (Bancomat) at the airport because they can be easily compromised. Several travel forum bulletin boards have mentioned this, so we only use an ATM connected to a bank and only during their open hours. If the machine eats our card we can just go inside to retrieve it.

Make sure you notify your bank and credit card companies of your travel plans and dates. Otherwise, you may not be able to use them. Also, use a money belt.

Buon viaggio,

Posted by
16893 posts

I only bring whatever leftover euros I had from the last trip, and make no effort to maximize these, so sometimes it's been only €5 or €20 in my wallet. I've not had any trouble with finding and using ATMs in airports. My back-up plan, in case the machines are down, includes some US cash (for which I would not expect to get a good exchange rate, but it's only for emergencies, and have not gotten around to using it in years). Other safeguards exist, e.g., tickets for an airport train can often be purchased with a credit or debit card (less common for taxis) or a taxi driver can take you past another ATM before dropping you at your hotel.

Posted by
792 posts

today 5/27/15 ...the Euro is $1.089 ... great for travelers ... bad for portfolios

Posted by
66 posts

Hope - we just returned from our third trip to Italy a couple of weeks ago. We always take a few hundred euros with us. It's our security blanket. When we landed in Venice we went right to the bus ticket kiosks and got our tickets and proceed right out to the bus. Paid for our extra, pretour hotel room also. Then, after we got familiar with our surroundings, we were off in search of an ATM. Actually near the hotel. That was on day two. We try to gauge our usage so we don't have much at the end.
Do what you think is right for you. Enjoy your trip.
Gene

Posted by
11 posts

Does anyone know what kind of fees to expect from my bank or AAA to get euro and how the fees compare with using a foreign ATM? As has been mentioned, the euro is really low right now compared to the dollar, so I'm considering going ahead and getting some euro right now (a few months before I leave), but not if the extra cost of getting them ahead of time outweighs any benefit I'd get.

Posted by
437 posts

The fees depend on your specific bank. It will cost more to get the Euro in the US, a small amount relative to trip cost. Note that ATM fees also vary from bank to bank, so you really need to call the bank.

Posted by
23177 posts

The cheapest and most convenient way to obtain local currency is a debit card at a local bank owned ATM even with bank fees. Better yet is to have a card that doesn't charge fees. . You will pay a premium of 5 to 10% to purchase Euro in the U.S. and more at AAA.

Posted by
303 posts

We recently returned from a 2 week trip to Italy. We went to our bank and ordered Euros about a week before we left as they had to be transferred from the downtown office. Since we were staying at B and B's which required cash payment, we took about 500 Euros with us (kept in a money pouch around my husband's neck) to pay the bulk of that bill. We knew we didn't want to add tracking down an ATM in the airport as we were flying overnight and exhausted upon arrival. It is a good thing we did as we searched and searched at Termini for the bank ATM the day after we arrived. You may not want to take that much, but having the means to pay for something immediately after arriving is convenient.
I agree with the advice to use ATM's associated with a bank. You will feel much safer. Also, try to avoid drawing out a lot of money on a weekend! I read that some ATM's run out of bills on the weekend. It may or not be true, but we didn't take the chance.
You absolutely need to tell your bank of your travel plans! Our bank blocks any suspicious activity on our debit and credit cards! Check their transaction fees and the daily amount you can withdraw. I also read to make copies of your debit and credit cards in case they are stolen or swallowed. We did and kept the copies in a hidden place in our carry on, along with copies of our passports.
You won't need any extra US dollars. Stash your American currency once you hit Italy. When you return, simply withdraw US currency from the ATM if you need more.

Absolutely ENJOY Italy!! We did!

Posted by
8377 posts

@Anne just call your bank and ask them what their fee is. But it's more important to know their price for selling you euro. They can set any rate they want, since they have to make money on the transaction. Just because you see the interbank rate in the paper it doesn't mean that is the rate you will get from a bank or other seller. FYI my main bank will charge a flat $15 fee for any currency transaction, as well as offering a rate 10-20% to their advantage. If a bank says "no fees" it often means lousy rates, or vice versa.

Posted by
54 posts

Friends of ours were just here in Italy--they are members of AAA. They swear that they got euros without paying a fee--and the euros were delivered to them at their house in the USA. They also said they got a good currency exchange rate. They travel to Europe quite often, and so they are somewhat savvy about this. It sounds too good to be true--but if you are a member of AAA, check it out.

Posted by
792 posts

correct cm. If you are a AAA member you can get euros from a local office.

Posted by
8377 posts

There is no free lunch. I just went to AAA website and checked. Yes, they will sell you euro. Todays price is $1.16 per euro. Interbank rate is $1.099. Is that a good deal? Better than my banks, but not exactly cost free.

Posted by
382 posts

How many of the posters who say "I take euros with me from home" are actually buying them in the U.S. before a trip?

I purchase 100e from our primary bank just for the piece of mind of landing in-country with some local currency, without having to find/wait at an ATM upon getting thru customs, etc. Yes, I know in some people's opinion the bank is 'ripping me off'... mine charges 4 pts over that day's respective exchange rate. But that is the essence of hedging, locking in a certainty versus rolling the dice on a future unknown. For our upcoming July trip, I did the exchange a few weeks back when rate was at 1.07, so I paid $111 for 100e at my local Wells Fargo branch. To me the value of jumping into a taxi and getting into town (just getting out of the airport!!) quickly is well worth a small premium. But that's the extent of monies I take from home; we use a Schwab debit card to w/d funds from the local ATMs once in town, and they don't impose FX fees plus they credit back any non-affiliated bank/atm charges, so we're really living like a local in terms of spending-money access/exchange. Every time I've come back with small amounts of Euros or Pounds or whatever, they find their way to kids' collections. Wouldn't know where to begin vacuuming. : )

Posted by
792 posts

looks like AAA adds 7¢ to the current exchange rate between the dollar and the euro. I'm ok with that to have some cash before landing. Off topic but I recovered my AAA subscription in the first month when my wife locked her keys in the car - totally covered.

Posted by
43 posts

I agree with much of the above advice. I just returned from there. I always take about 200-300 Euros. When I was in Rome, Italy about 2005, I put my atm card in the machine at the airport, requested money and it gave me a receipt indicating the money was taken from my account. I did not get any money, however. Eventually, I did get the money restored to my account (after I got home), but I had a daily limit on my atm withdrawal, and could not get any more money on it for 24 hours. A real pickle! Since then, I always have 2 debit cards on different accounts. I try to avoid getting money at an airport and always go to a bank machine at a bank in the city. Additional advice. I was in Rome over a holiday weekend and the machines ran out of money. I needed some and ended up getting it at an ATM that was not a bank atm, but rather at a money exchange. The exchange rate there was terrible! Try to always use the bank ATMs.

Posted by
25 posts

We are two weeks into Rick's 21 day suggested Italian tour. We flew into Milan with about 70 euros from our last trip. Not one of the ATMs at the Milan airport worked for anyone ahead of us in line. It was very stressful to feel short on cash.

In the future, we have agreed that we need to arrive with some Euros to remove the stress of immediately finding an ATM machine. JMO.

Posted by
2 posts

I just talked to my local AAA office. They sell pre-made Trip Packs of 100 euros that cost $125. Ouch!

Posted by
57 posts

Would someone comment on "do not bring dollars to exchange for Euros."

In the past I have taken dollars to the exchange windows in the local Post Office. Usually one of France's PTTs.

It was the cheapest way to do it.

Posted by
23177 posts

You asked the same question earlier. Did you not like the answers you received or do you just want to chat? That subject has been well covered before.

Posted by
145 posts

I purchased enough Euros to get me through the first couple of days, including transport from the airport and the city tax (paid in cash when you check into your hotel/apartment). I purchased from a Wells Fargo branch (not all branches have international currency) and got a very good rate. I checked into AAA and found their rate to be terrible! It was nice to have one less thing to deal with when we landed after a long flight to Rome!

Posted by
24 posts

I have been debating this issue for my upcoming trip to Ireland. I finally did some calculations today to see what I'd pay either way. This is what I'd pay (I have an account with Bank of America) if I ordered €500 today versus withdrawing the money from an ATM in Ireland. (Of course, the exchange rate I'd pay next month when I actually land in Ireland will be different from today's rate, but I only have today's rate to go by.)

ORDERING IN ADVANCE:
Base exchange rate = €500 x 1.169 = $584.50
Delivery fee = $7.50 (this applies even though I have to pick up the money at my local branch)
TOTAL = $592.00

USING ATM IN IRELAND:
Base exchange rate = €500 x 1.119 = $559.50
3% foreign transaction fee = $559.50 x 3% = $16.79
Flat fee per ATM withdrawal = $5.00
TOTAL = $581.29

I have always found it very easy to withdraw Euros from a Bank of Ireland ATM at the Dublin airport upon landing. Being "tired" or "exhausted" upon landing after an overnight flight has not made it any more difficult to use the ATM at the airport. I've never had to deal with a long line, or the ATM not working, or the ATM being out of money.

Based on my calculations above, it seems that using an ATM at the Dublin airport is the best option. However, I understand why some people prefer the comfort of getting Euros before leaving the United States. In my case, I'm arriving in Dublin on a Sunday morning, so the bank itself won't be open. So, what if the ATM eats my card? Or what if, by Sunday morning, so many withdrawals have been made so far that weekend that the ATM is out of money?

If my bank didn't charge the ridiculous $7.50 delivery fee ON TOP OF the higher exchange rate, I'd order a small amount, maybe €100, in advance of my trip because of the risks mentioned in the previous paragraph. But because of the significantly higher costs to order Euros in advance of my trip, I'm willing to take the risk of waiting until I land in Ireland to get my Euros.

Other factors influencing my decision include that fact that I have about €13 at home to take with me to Ireland, which'll be enough to pay for the bus to get me from the airport to my hotel. And, in a pinch, I could use some of my US dollars in my wallet to get Euros from a currency exchange desk. Those exchange rates are ridiculously high, but again, I could get Euros that way in a pinch.

Posted by
2709 posts

That computation is not a clear computation for all, as it has avoidable fees included. If this were our accounts, we would be using one of two ATM cards that do not charge a withdrawal fee, have no foreign transaction fee, and the interbank mark-up would cost about $3. So the difference is about $30, close to 6% to get the Euro here. We have never had a problem using our cards at bank ATMs.

Posted by
11613 posts

I don't like to depend on finding an ATM (Bancomat in Italy) when I land at the airport, so I take some euro with me - brought back from a previous trip. Sometimes only €30, but enough to get me to my hotel.

For the first trip I ordered euro from my bank. The best thing about that is the convenience upon landing, followed closely by the fact that you can order specific denominations (get some €5s and €10s for snacks, taxis).

You will need euro coins for bathrooms at major train stations, so break a €5 by buying a coffee or something in case the bathroom change machine is out of order and you don't see an attendant.

Posted by
24 posts

Larry, I agree with what you said about fees. I read some info yesterday about the Schwab High-Yield Investor Checking Account -- and Matt's comment earlier in this thread also mentions it -- which has no minimum balance and no monthly service fees, plus reimburses ATM fees from other banks. I am probably going to open an account and put enough money in the account to cover my anticipated ATM withdrawals while I'm in Ireland. If the account is all it supposedly is, I could eliminate both the 3% foreign transaction fee and the $5-per-withdrawal flat fee(s). For a €500 withdrawal from an ATM, that would save me about $22!!!

Posted by
382 posts

IrishTom, highly recommend the Schwab account-type referenced. We opened such an account expressly to serve as our primary source for a recent trip to France, Switzerland, Germany and Italy, but as it was the first time we used it weren't really sure if it would be as good as advertised until we got back. Happy to report the system worked flawlessly; we never incurred any FX fees, never had a problem with ATMs recognizing our account, and charges for using ATMs at non-Schwab-affiliated banks were credited back automatically within a couple weeks. We found it a convenient way to access cash for meals, souvenirs, etc, and didn't have to be concerned about withdrawing/holding LARGE amounts of cash while getting lost in the cities. : ) We could simply take a hundred or two hundred at a time, and go about our business.

Posted by
2709 posts

Irishtom, the Schwab account is what they say. You actually need to open two accounts, you get the investor checking account by opening a brokerage account, but there is no required balance in the brokerage account, it just has to exist to exist. Just makes the application process a bit longer. The ATM cards are chipped VISA debit cards, and thus PIN'ed. The daily withdrawal limit is 41,000. Since we have a joint account, we have each have a cards with a different number, so that means if necessary we could take $2,000/day. We were able to use the cards to retrieve French rail tickets bought online, and at French kiosks. Oddly it would not purchase Dutch rail tickets from kiosks, we think that is because it only carries Interlink, PLUS, and MoneyPass logos, and the Dutch rail machines are under MAESTRO. Since the European bank ATMs don't charge fees that has ot been an issue. We did find that the exchange rate was closer to the Interbank rate than with our CapOne cards, which are generally about 1/2 of 1% above the published rate (a couple days we withdrew on both cards back to back). Great customer service, too. And when we set up for transfers from our regular bank account to Schwab, they even didn't recover the trial deposits they sent to us.

Probably takes about 2-3 weeks to get this all in place and receive your ATM cards. It helped that here in Philly we could walk into an actual Schwab office and do the paperwork directly

Posted by
551 posts

I'm going to Italy and France next month for three weeks and plan to stay at small hotels and B&Bs recommended here who give a discount for cash (euros) payment which in total saves me about 5% on my lodging cost. In the past I have relied mostly on ATMs for the cash I need, but on my last trip to Normandy and Provence I took enough in euros to cover all of the lodging plus €200 to cover incidentals. The money stayed in my money belt throughout the trip until I needed it. It worked fine and as someone said earlier, gave me a feeling of freedom from worry. I'm getting €2000 from my local Chase branch and they are charging me .06 per dollar fee. From personal experience that is less that I would be charged if I use the ATMs in Europe. Everyone has their own preference and this is mine. If I were using my credit card for lodging I'd probably take €500.

Posted by
2709 posts

Don't know about anyone else, but I do not want to worry about what could happen to my 2,000 Euro while I am being detained at my US airport while they decide that my metal hips are not a threat. Nor worry about getting pickpocketed or otherwise having this taken from me stateside before I even get overseas. Especially when to get those Euro I have paid a premium of $133 to the banks (at 6 cents per dollar, at today's conversion rate), when I could get these at my leisure from ATMs for under $5 total. Just my own personal preference. That $128 is a couple good dinners for us.