Bank Fee's in Italy
Does anyone know if there are alot of BNL D'Italia banks in Italy? I am looking to use
my Bank of America card while traveling. Also can anyone help with Fee's associated with ATM withdrawls. I was told my banks either charges nothing or 1.00 and the other banks you withdrawl from charge on their end. Any help would be most appreciated. Thank You!!! |
I believe no banks in Italy charge to use their machines. Any fees would be charged by your home back for the overseas transaction.
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The only fees will be from your bank, not from the Italian ATMs.
Here's the BNL site but you'll need to be able to read Italian. |
It might be worth setting up a checking account with a bank or credit union that doesn't impose any fees - then you are free to use ATMs (called Bancomats in Italy) of various banks. One fee to look out for is a currency conversion fee that many banks and credit unions charge.
You might find this article helpful: http://www.smartertravel.com/blogs/t...ml?id=11706070 |
Hi rs,
> I am looking to use my Bank of America card while traveling. For what purpose? If you withdraw money from a bank using your credit card it is treated as a loan and you will pay interest from the moment of withdrawal. Most expensive way to get money. If you use it as a credit card, the only fees are charged by your bank. IIRC, BofA charges 3% for "currency conversion" on top of the 1% charged b Visa/MC who actually do the currency conversion. Capital One doesn't add a conversion fee. If you use it as an ATM card, the only fees are from your bank. ((I)) |
Ira - Bank of America has ATM cards also and I assume that is what the OP is asking about.
>>>I was told my banks either charges nothing or 1.00 and the other banks you withdrawl from charge on their end<<< Your bank will either charge their own fee plus a conversion rate (can vary from 1-3%)to convert 4 $/€, not the Italian bank. It appears BofA has an agreement with Global Alliance so if you use those your charge is 1%. If you use other banks that aren't in the alliance, the charge is 1%+ $5. To use a BofA credit card (to charge things, not to get cash) the charge is 3%. That's high. I would find another card that only charges 1%. Scroll down for the chart at the bottom and find your bank/cards. http://www.flyerguide.com/wiki/index...reign_Exchange |
Thanks to you all for great information. I do have a couple
cards I can use from Credit Unions with lower Interest charges. I was interested in not getting charged for withdrawls using the B of A Card at Barclays or BNL D'Italia Banks in Italy. I appreciate all your help. Thanks again. |
>>>I do have a couple
cards I can use from Credit Unions with lower Interest charges<<< It has nothing to do with interest charged by cards. The percent we are talking about are the conversion fees euro to dollar that your bank/cards charge. Look at sites like Oanda for conversion rates. If you want to withdraw 250€ with your ATM card, use the currency converter and then tack on the % your bank will charge to see what it will total. |
We did not have any problem finding the BNL D'Italia in Florence this past October, rsvarazze.
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I had no trouble finding Barclays ATM's to use my B of A card in Rome.
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Good point, palatino.....as long as you use any of the partner banks, there is no fee. We used the Italian one when we were in a small city in France near the Italian border.......
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