clifbob

I was just told that Using an ATM in Italy will oost me alot more for buying Euro then purchasing it heere in Los Angeles. I can purchase to here today for 151.00 per euro? Does using the ATM in Italy cost alot more?

vjpblovesitaly

Where did you hear this?? This is discussed frequently and if you put ATM in the search bar you will find many threads on the subject.

StCirq

Where on earth did you hear that? Are you sure you heard it correctly, because exactly the opposite is true.

bobthenavigator

Rubbish !
Use ATMs in Europe and charge all you can on your CC--end of story !

ellenem

The Italian ATM will not charge you a fee--all the fees come from your own bank. Ask your bank about any transaction fees they might charge. Most banks charge a few percentage points above the interbank rate for foreign transactions. Some banks charge an additional fee per transaction for out-of-system withdrawals. Even with all these fees, it usually works out better to wait to get euros in Italy.

sheri_lp

Bob's right - don't buy in advance, use your CC and have a backup one just in case.

alanRow

could be that OPs source used a BoA card and withdrew small amounts each time - at $5 per withdrawal

RufusTFirefly

All you need is a reasonable bank to keep your money in. The European bank ATMs charge nothing. My bank charges nothing for ATM withdrawals worldwide. Only the standard 1% fee--which is MUCH better than you'll get anywhere in the USA. Even if your bank charges something for foreign bank ATM withdrawals, you'll probably still be better off using ATMs and credit cards in Europe.

Current exchange rate is about $1.43--so with the 1% exchange fee using ATM in Europe or my credit card (USAA), I would pay about $1.45 per euro.

Of course, there can be other reasons to pay more here for euros; e.g., peace of mind if you're a nervous sort or just don't want to use an ATM overseas for some reason.

Lynda_bcn

European banks do charge non-customers to use ATMs; even in our own country we have to use the ATM network that our bank works with for it to cost nothing. So you should check with your bank which networks they are linked to specifically in case there is a difference for you between the networks (lower charges or none).

Nikki

If you are using a US card, it is my experience that the European banks do not charge a fee (I believe I read here that this is by law). Some private, non-bank owned ATMs, may charge fees though.

Any fees for use of a US card in a European bank ATM come from from the US bank, and some of those banks have networks within which they do not charge a fee while it is expensive to use non-network ATMs. Other US banks charge the same fee no matter what bank's ATM is used, and some charge no fee.

meoheo37

My husband and I have traveled to Europe many times and we always use the ATM to pull out money to get a better exchange rate. When we land, we head straight to the AMEX counter and exchange only a few hundred to start our day but will hit the ATM machine afterward. You should check with your bank about transaction fees since each banks vary. Let them know you are traveling to which countries so they do not lock up your account. You should also call your credit card companies and inform them of your travel as well. Lots of companies raise red flags when they see unfamiliar charges.

Like everyone said, use your ATM and credit card as much as possible over there. You'll get a better exchange rate and less worries about carry too much euros around or having to lock it up in your room. Have a safe journey and ENJOY Europe!

RufusTFirefly

European banks do NOT charge foreigners ATM fees for certain. Don't know about residents, but visitors do not pay. But you can encounter non-bank, for profit ATMs that can charge you.

ira

Hi cl,

> I can purchase to here today for 151.00 per euro?<

That's $1.51/E.

In Italy, it will be about $1.42/E.

StCirq

Not true, Lynda. European banks do not charge a penny for non-customers to withdraw funds. Just Not True.

Christina

I think the issue is they do charge noncustomers in their own country a fee at ATMs, or can, but they do not charge nonEuropean customers a fee. I don't know about Asians, etc but they definitely do not charge US bank cards (and probably North Americans). It's the same thing in the US, the ATMs clearly state they do not charge foreigners a fee but will charge Americans with another bank. So you cannot presume what is true for a citizen of the same country is true for foreigners. It is some international banking agreement as I understand it.

hetismij

Within the Eurozone banks do not charge for withdrawals. In the UK certain banks do charge customers of other UK banks for withdrawals, but do not charge foreigners, wherever they are from, so that includes other Europeans. The UK does have private ATMs which will charge you for withdrawals - these are usually in shops petrol stations and the like, the same as in the US. The Netherlands does not. I don't know about other European countries.
You will pay a 1% conversion fee plus any charges your own bank imposes for foreign withdrawals.