ATM withdrawals
 

Can anyone give me an idea of the average maximum amount of money any given ATM can dispense, in Italy? I thought I saw a posting here a while ago that said the average max. was approx E150, but that doesn't seem right. We'll be travelling throughout Italy in April, and plan on withdrawing Euros as we go along. Is this a good plan? I'm aware of the fees I may be charged, and that doesn't bother me. Are lines generally long to reach the ATM? Thanks for your help! Kelly

Our experience was that the limiting factor in the amount of money we could withdraw was the limit set by our bank. In other words, the machine was capable of dispensing more than our bank allows to be withdrawn a day ($400).
Yes, I think the best plan for travelling in Europe is to get your money from ATMs as you go along. There are ATMs everywhere, and while occasionally you may need to wait for someone, usually you can quickly find an open ATM.

I use a Visa card. It has always worked at any ATM so marked anywhere in Europe, including Italy. I usually use any ATM that has no queue and there seem to be plenty of those. I don't know what the upper limit is on withdrawal, but I usually get €300. Using ATMs to access cash from your account is generally the cheapest and most convenient way of controlling your finances while travelling.

Is anybody familiar with the AMEX cheque card where you can deposit up to 2000 euros and withdraw without any fees from atms across europe? THe card costs US$15 - and sounds pretty convenient??

Hi K,

When we were last in Italy, the ATMs would usually give out 250E at a time, although some gave out 300E.

You can do multiple transactions until the machine runs out of money.

((I))

Hi VB,

Unless you absolutely have to have a bank that charges very high fees, the AMEX card isn't very good.

You give them dollars, they credit the card with euros at a markup. That's where they make their money.

You give them 15$ for an ATM card that banks give for free.

At my bank, I pay $0.75 per transaction for "out of network" ATM use, and only 1% currency conversion.

((I))

thanks for input ira -- probably right about the exchange in getting euros loaded onto atm card -- i'm just a little nervous about only one form of cash availability (ie ATM - i actually use BofA which charges $5 per withdrawal out of network)..We'll be away with whole family for over a month and need to make sure we've got multiple ways to access cash! Everybody's posts have been so helpful - i even decided to get a CapitalOne MC due to low charges!

The limiting factor is your bank. A teller or customer service rep can easily tell you your limit. I asked mine to be temporarily raised for Italy, but they said they couldn't, so I was stuck with $150 a day. We never had a problem finding ATMs.

Hi VB,

> i'm just a little nervous about only one form of cash availability <

Open a second account at another bank.

((I))

I have Bank of A as well and they do charge a $5 transaction fee for international withdrawals. They set a limit on "daily withdrawal amount" (which includes the $5 fee also, I am told!) You can go into a branch (can't do it over the phone- I have tried) and have them raise the daily limit allowance on the spot, and then when you return you can lower it back down if you choose.

I had to get 1600 euro out of an ATM when I arrived in Italy to pay the balance of an apt. we were renting. I mad special arrangements with a branch manager to allow me to withdraw that much upon arrival. I had to make 2 w/ drawals as the ATM itself wouldn't allow another over I think 800 euro at a time.

Depending on what country you are visiting, Bank of America does not charge a transaction fee if you use one of their partner banks. In the UK , it's Barclay's, in France, BNP Parabis. You can find the countries and partner banks on their website.

I'm also allowed 3 out of network transactions per month at no charge.

It may depend on the type of account you have, I have an Advantage account

True about no charge from BofA if you use their partner banks, but only in those banks own country (like Deutschbank only in Germany). Sadly, BofA has no partner banks in Italy which will give you transaction free ATM withdrawals, unless you have a special account with them which allows you a certain number of free withdrawals per month, as I do. But jody, mine is two per month -- how did you get three? I'm jealous.

Meanwhile, back to your original question, I have used many, many ATM's in Italy that had a maximum of 250 euro regardless of my own daily limit. Sometimes I could put the card back in and get a second 250, but sometimes not.

We have found that the limiting factor is the limit placesd on our ATM card by our bank - approx 300E per day.

In order to get round this problem, both DH and I take our debit cards - then if necessary, we can draw on both at the some time.

However, I am happy that this limit applies - if someone did somehow access the account, they won't be able to get very much before I spot what's going on.

regards, ann

We used Deutsch bank in Rome with our BoA card and STILL got charged even though they said we wouldn't. My DH was supposed to follow up on that...doubt if he did....

Sandi, I can answer that. The policy changed about two years ago. Previously we were not charged for using BofA partner banks no matter where they were located, but the policy has since changed and they do charge if the bank is not it its "own" country. We had withdrawn at Deutschebanks all over Italy one summer for free and the next summer were surprised by the charges. I found out that their policy had changed.

If someone at BofA told you that you wouldn't be charged, he was just out of date. There's a surprise --- NOT!

Never had a problem getting my US $650./ 500 Euro daily.
USAA ATM.
M

ATMs are as common in Europe as they are in the USA. Two tips: have two or more ATM cards to use, just in case something happens to one of them, or you need to withdraw a very large amount to pay cash at your hotel, etc.; use ATM machines located at a bank when possible, so you can get help if you need it. Have fun in Italy!
:)>-

I've traveled most of my career(s) and have had no difficulty with ATMs or credit cards, until recently.

I've been to the Near East, Far East, Canada, Europe, etc... without a peep from my bank, Citibank.

However, last month I was in L.A. (how exotic can you get?) when they decided to decline my credit cards and ATM withdrawals.

The fun part is that they either send a letter to your house or call and leave voice mail, both of which realllllly helps when you're traveling.

I now call my bank and CC company (both the same, but, of course, not connected to each aother) to let them know the next time I'm either traveling or visiting the 'washroom'.

Kinda sad isn't it?

I agree with Ira... open a 2nd account.

I did exactly that 2 years ago and it has been great - I opened a free checking account and put some cash in it - I then used that to withdraw cash in Europe. The good news was that it wasn't linked to any other account, savings, direct deposit, etc. so I felt like my liability was limited.

Check with your home bank also - I used to use ameriprise and since they only an American bank, they didn't support European withdrawals. Even though it had a plus, cirrus, etc. symbol on the back. Glad I had a backup!