Spending money in Italy

Get euros from ATMs when you are in Italy. Take out the max the ATM will let you withdraw to minimize fees.

I take it you do not think I should get money from a Thomas Cook or American Express office?

Not unless you want to pay a 10%. This question is discussed several times a day. Looks at some of the other responses for greater detail or try

http://www.ricksteves.com/graffiti/helpline/index.cfm/rurl/topic/49133/euros-best-place-to-buy-them-before-trip.html

you may need some initial money when you first get in. Check first with your bank for exchange rate and any fees. Probably better than Thomas cook

Rene,

Using ATM's is by far the easiest and least expensive method to get Euros. The exchange rate will be about the most favourable, although your Bank may charge a Service Fee for each transaction.

Note that your funds usually must be in a chequing account with a four-number PIN. It's a good idea to carry a "backup" ATM card in case there are "issues" with your primary card (which happened to me last year).

Cheers!

Hi, Rene. My Dad and brother both live in Ft. Worth and I travel there often-great city. Your question about how much spending money-what are you including in this-just food, museums, misc?

I personally won't go to a foreign place without having money in the local currency. I will bring at least 200 euros from my country and use the ATM to get more money when I get there.
But I just need to feel safe.

I agree with Jo completely. Go to your own bank and get 200 Euro before you leave. Replenish as needed at ATMs (the cheapest and most convenient way). Make sure your ATM card uses a 4 digit PIN and not a 5 digit PIN. CALL your bank (security department) to let them know you are going to be using your ATM card overseas and get your daily limit increased. Bring a spare ATM card just in case. I opened up a secondary account to which my second ATM card was attached. That way if my primary card was lost or stolen, I could go online and transfer my money to the second account and use the other ATM card instead without the worry of having my bank account cleaned out.

FYI - we just picked up $500 worth of euros for $665.50 U.S. at Wells Fargo. As a non-customer, they charged us a $5 fee. We purchased it at the rate of $1.30 US per Euro. It will be nice to have the money in hand in case we get way-laid along the way due to the volcano or any other circumstance. We will also get some from the airport ATM - after paying bank and machine fees, we hope to get a similar rate. Our bank only allows a $500 cash withdrawal per day and many of the motels want payment in cash - so we needed to have extra on hand.

Kay, do you mean you purchased 500 euros for $665.50? If so, using the euros to dollar conversion for today at 1.2699, 500 euros is equal to $624.60. Wells Fargo charged you about $40 for this exchange.

Bring about 200 Euros cash and replenish with your (VISA) ATM/check card as you need it. Call your bank and make sure your card will work there. It should, unless you have a 5 digit PIN. Before you leave, call the bank's SECURITY DEPT. and let them know you will be using your card overseas. Have your daily withdrawal limit increased if possible. Don't exchange all your cash before you go; it's a rip-off. You will get the best exchange rate with the ATM/check card, even with the fees, but withdraw the maximum amount allowed to avoid having to do this so many times.

I usually bring a back-up ATM/check card linked to a separate account just in case the primary card is lost or stolen. If the card is compromised, then you can go online and transfer your funds to the secondary account so that you don't get wiped out. Then go to your back-up card.

Kay,

You can ask your bank to increase your daily withdrawal amount.

On a somewhat related note, we will be renting an apartment in Rome for a week this fall and the owners collect their Euros at check-in. What is the best way to handle this as we will be traveling the country for 8 days prior and would rather not have that much currency on me the whole time. Any suggestions?