If I decide to take some U.S. dollars with me to Italy, will I be limited as to which denominations of bills I can exchange for Euros? Which denominations are best, and which are impossible to exchange (if any)?
Posted by
Elk Grove, CA, USA
6898 posts
Converting dollars to Euros in Europe is not your best option. The conversion rates are horrible. Outside of the airport, most conversion places are in hotels or busy tourist locations. You could lose 20% or more of your value by converting in tourist area. To obtain Euros as cheaply as possible, use the ATM machines which are everywhere. Yes, most banks will charge you a fee but its not as bad as what the currency conversion places (including hotels) will do to you.
Posted by
Jonesboro, Arkansas, USA
606 posts
Some people have said it's hard in Europe to change US bills larger than a $20. You might be able to change $100 bills at a bank, but some exchange booths out in the town will not take big bills.
Of course, taking quite a bit of money in twenties gets bulky, not to mention the risk of having the cash stolen.
Posted by
Manchester
495 posts
With the caveat that I've never tried to change USD cash in Italy; my understanding is that the issue is only with $100 bills - apparently they are the most forged note in the world. As i say I've had no personal experience but I've read press stories and post on travel boards indicating that a lot of (but not all) places won't handle $100 bills.
Posted by
San Jose, CA, USA
423 posts
Back in May of 2007, I walked in to a Bank in Venice with my $100 US bill and changed it for Euros with no issue. I showed my passport for ID. The exchange rate was not that bad. It was my emergency stash, which I needed (if you bring it - you will spend it).
Posted by
Tresana, Highlands Ranch, CO, USA
23268 posts
Not sure why you are asking the question. Other than a little US cash as emergency backup there is absolutely no advantage or reason to exchanging US dollars into local currency in any country.
Posted by
Rome
212 posts
Does anyone remember the days when Italians would welcome payments in US dollars with open arms??! Now they run for the hills. So much has changed.
Posted by
near NY, NJ, USA
445 posts
Ron: Sadly I remember only too well those days when the dollar was king! And you could afford everything! I went in a student group and remember going to American Express offices to convert traveler's checks. Ah those were the days. Of course the Italian government had a nasty habit of changing very often anda the dollar was considered
like gold. Times have changed!!
Posted by
Seattle, WA, USA
7737 posts
There's no reason on earth to take a lot of USD to Italy unless you have money you just want to throw away.
FYI, Capital One offers a money market account that doesn't charge any ATM fees or international fees. You get an ATM card with it that you can use everywhere in Italy.
Posted by
near NY, NJ, USA
445 posts
FIdelity also has a debit carda that costs nothing to use but you still need to take 2 debit cards in case of some calamity!!
I think most people take some dollars as a safety net in case of some catastrophe...like losing all your cards or something like that. I know the credit card companies say they will issue a new one right away but I can tell you from sad experience that the replacement card will have strict limits on it and is a pain to have to rely on. Carrying some dollars is just an insurance policy...no one ever ex
pects to have to use them!!
But anyway they can come in handy once you are back on your home turf...I once arrived back at Newark in the middle of a blizzard,the last plane to land and we didn't even have customs inspection. Everything was closed and cash was king!!!!