Thanks to everyone for your help. I checked with my bank today and they do not charge for withdrawals on ATM. They said the only charge would be if the ATM assessed a fee.

baglady: think strongly about buying your euro (correct plural) from your bank at home..and forget about it. Have them when you arrive overseas!!! ( the more you buy should cost you less "convenience fee".)
Then supplement ATM overseas when you need more. (:>)

I also recommend you get your Euros at the ATM's in Europe. Save you a few bucks! ((b))

Recommend using ATMs, better rates and they're everywhere.. even in the smallest village. BTW, make sure you call your card's bank in advance of your travel to let them know when and where you'll be. Found out the hard way the first time to France.

hi there, this is probably a stupid question but are banks readily available to change US money into Euros in Italy and do they charge a fee?

Yes, any large bank in Italy will do this for variable fees and poor exchange rates anywhere from 5-10% more than you'd get from the ATM. Go in the bank only as a last resort.

baglady: if you are more comfortable purchasing euro at your bank so that you will have euro when you arrive, then by all means do that. I was unable to convince mrknew that ATMs were proliferate in Europe and that it was very easy and cheaper to pull money from the ATM. He opted to purchase some euro from his bank. The bank charged him a fee for doing this, along with the exchange difference. I opted to wait until our arrival and pull money from the ATM. I was not charged an ATM fee from the foreign bank, and only $1.50 per withdrawal by my credit union. Only you can decide what is comfortable for you. Mrknew needed this security and so it worked for him.

flycather06: Don't bother with taking US dollars to a foreign country and exchanging at a bank. Not only is it expensive with the exchange rates, you are at the mercy of the banking hours. I took a small tour with a group of 25 (never again, but that's another story) and upon arriving in Italy from Germany in the early evening, walked over to an ATM and withdrew money. There were at least 3 couples in the group that had to wait until the following morning to go into the bank to exchange money. As a result they missed out on a nice dining experience since they were stuck in the hotel without lire (this was of course pre Euro). I would recommend going the ATM route for all money needs.

You mean whoknew they never heard of a credit card?

xyz123: I wondered the same thing! I clarify my response by stating that it wasn't until the following morning when they were searching for an open bank that I found out they had been "stuck"(their words) all evening in their rooms. Of course I didn't know this because I was out enjoying myself with my ATM lire. I guess they couldn't figure out for themselves they could use a credit card? Who knows? (or should I say who knew?).

Common sense did not seem to prevail among this little trio of couples throughout the trip.

Take euro from your home bank (if you want to). Have an ATM card (or two). Take some US cash that could be changed at a bank. Credit card (or two) personally I only use these for large expenses like a hotel bill. Travelers checks if you feel the need, or your trip is for a long period of time, or a small hotel will accept payment this way.

It is cost efficient to get euro from an ATM once you arrive. But more important to me than the exact cost is to make sure you have lots of options that will work for you.

i do not have an atm so are you telling me an italian bank will charge more to exchange money than the american one?

Go to your bank and get an ATM card. We hadn't had one until about 2 years ago.What freedom.
In spite of the fact that I lose a bit or a lot on the exchange, we get about $100 in euros at the airport because it is convenient. That way we can get to the hotel and then find an ATM when we need more. It is just a comfort to me to have some Euros in my pocket.

Hi flycatcher06

>i do not have an atm so are you telling me an italian bank will charge more to exchange money than the american one?<

If you want to go to the trouble of buying TCs, you will find that you pay more to buy TCs in euro here in the US. You will then pay a fee to have those TCs cashed.

If you bring dollar TCs, you will pay a fee to have them cashed and/or a poor exchange rate.

If you use an ATM card to get cash you will get the best exchange rate. The only fee you will pay is the "out of network" charge from your bank.

If it is more than $1.5, look for another bank.

I don't understand why people get so upset about a bank charging you 5% for a service. They are in business and should charge a fee for their services. Your question should be "is the sevice worth the fee?". If the answer is no then look around for another way. I like to have euros on me when I arrive so I am willing to pay the 5%. Then I don't have to find an ATM before I leave the airport. Others on this board wait until they arrive and get their euros from an ATM at the airport.

Flycatcher, given the choice between any bank in the USA or any bank in Italy, I would exchange USD for euro in the Italian bank. The exchange rate will most likely be better.
However, if you travel, an ATM card is indispensable nowadays, in the same way that traveler's checks were the preferred approach just 20 years ago.

I usually say wait until you land and exchange at an ATM. That being said, we are renting an apartment in Paris for a week. Upon arrival we pay the remaining half of the fee and a $300 euro deposit. I decided it was worth the extra $$ to have the money in hand rather than cast about for an ATM after an overnight flight from SFO.On prior trips we have exchanged at the airport to simply have some pocket $ but found the exchange rate to be pretty poor and not unlike a bank excahnge prior to leaving the US.

I, for one, don't "get so upset about a bank charging you 5% for a service." I just avoid paying it by using ATMs and a bank that charges $1 per transaction of whatever size.