Changing dollars in Venice
 

We arrive in Venice at around 3pm and will need to change some dollars to Euros. We are staying not too far from Piazza S. Marco and wondered if there is any banks nearby?

I understand that a bank gives the best rate for changing money – would you agree, and any idea how much commission they charge??

What time banks are open until? The day after we arrive is Good Friday, so I assume all banks will be closed then (and maybe for a few days) – so it’s important that we get Euros before then.

Thanks for the help

you do NOT want to change money anywhere. Simply use your ATM card to get cash. You will get a much, much better exchange rate.

BUT tell your bank first and find out how much THEY charge for foreign withdrawals - generally it's a %age but there may be a minimum fixed fee that makes withdrawing small amounts very expensive

I used an ATM several times in Venice. They were easy to find.

If you are flying, use the ATM in the airport. Search on this forum using the term "ATM" for all the advice you need on obtaining foreign currency.

If you are from the States, you will normally only pay your bank's "out of system" fee. In general that will be from $0 - $5. My bank charges $1.50 and my credit union - zero. So even for small withdrawals it isn't much of a fee - but I agree, fewer large-ish withdrawals is better than several small ones.

The Italian bank won't charge you.

Coming from Canada. Have never used an ATM card, and would like to know what type of ATM cards are recommended to ensure they will work in Italy and France?

The TD Canada Trust (Green Machine) card from Canada works just fine at most Venice ATM's so I imagine most (CIBC, BMO etc) will work too. Look for the Interac sign on the machine. But if you have never used a bank machine card here in Canada, you will want to get some practice before you come! If you are really nervous, inquire at your local bank about obtaining Euros before you leave home to get you throught the weekend at least.

Thanks for the help. I called teh bank and apparently all the cards in Canada only have a 4 digit code (less than what they use in Europe) - so I'm hoping that they will still work with the shorter code?

Megamiles, an ATM (bank machine) card is just a bank card, you don't have one? I didn't think you could get away with not having one anymore!

If you don't have one though, go to your bank and get one. All of the major banks are on the Plus and Cirrus system. These two systems will allow you to withdraw cash anywhere in the world for the best possible rate. (Nevermind in Canada without having to go during banking hours!)

If you are nervous about using an ATM on arrival, do buy a couple hundred Euros from your local bank before you go. We often do this, the rate isn't that bad, and it means you are off and running when you land.

mega, we must have both posted at the same time!

I think you were confused by what the bank said (or the bank was confused . . .). In EUROPE, you can generally only use a 4 digit code. In Canada many people use longer codes, so before you go, just make sure you have changed your PIN to a 4 digit one. (In your case, just make sure to pick a 4 digit PIN when you get your new card).

&quot;<i>I called teh bank and apparently all the cards in Canada only have a 4 digit code (less than what they use in Europe)</i>&quot;

Not quite sure what you mean there. Are you talking about the PIN? If so any ATM will accept a 4 digit PIN. In fact, it probably is better to have a 4 digit PIN than a longer one. Nowadays most machines will take 6 digits - but in years past only 4-digit PINs were valid in Europe.

Mega-a 4 digit code is what you will receive from your bank in Canada and what you will need in Italy. Trust us-this will work, but DO please practice in your home town. My mum learned to use an ATM just before her trip to Rome at age 83: you will have NO problem once you have done this a few times.

Just in case: try and use an ATM attached to a bank during banking hours. In the event that your card gets eaten, you'll be able to go inside and get help. Though it is surely good advice to get Euros from an ATM, it is also a good idea to have a back-up plan. Possible back-ups: A few Euros you have on hand from home (even if you get them at the airport --peace of mind is worth a few dollars unfavorable exchange rate); CC, $$$, traveler's checks for dire emergencies. The first time we tried our ATM cards in Italy, they were refused. Why? Because although we requested an amount within our bank's allowance, it was not one of the &quot;standard&quot; amounts that the ATM machine offered. (We chose the &quot;other&quot; option and tried to enter an amount that would be closer to the daily max.) We got the message to &quot;CONTACT YOUR BANK.&quot; Mind you, when we tried to contact the bank using a purchased phone card, our call wouldn't go through, adding to the stress. While I was panicking and going through Plans A,B,C, and D (see above) to reassure myself that we could still get through the trip, my hubby sorted out why we were getting the message, and the cards worked fine the rest of the trip.

4 digits = 4 numbers as European ATM's don't have letters on them

Please remember that during Sunday (Canada time zones), sometime the ATM machine won't work, it had happened to me quite a few times, just try other machines or wait till Monday.

Great stuff - appreciate your advice.

I am still interested in answers to your original question. Where is the best place to exchange money in Venice. I do not use ATMs for a variety of reasons. Anyone have any thoughts on old fashioned cash exchange?

Stuart2611, how do you plan on bringing funds with you - surely not cash? I would never use a &quot;cash exchange&quot; place. The rates are generally as bad as you can get. IF I were going to travel without an ATM card, I would bring travellers cheques with me in the local currency. I would rather get hit with the exchange at home where I can shop around, than be hit randomly throughout the trip. If you buy AMEX TC's and cash them at AMEX offices, you won't even get a cashing fee.

Between the proliferation of ATMs and the arrival of the Euro (tourists from allover Europe now arrive with the correct currency for Italy), demand for cash exchange has plummeted. It will be more challenging to find somewhere that handles currency than it would have been just a few years ago. There will always be exchange offices in airports and highly touristed spots, but banks are no longer a good bet.