dmille

I am going to Rome on saturday. Is it best to use my debit card at an ATM to get Euros than it is to go to an exchange window at the airport or a local bank? Also, is it true that when using a credit card for purchases, I will be charged an 18% fee on top of the price for using the credit card?

hopscotch

<i>Is it best to use my debit card at an ATM to get Euros than it is to go to an exchange window at the airport or a local bank? </i>
Ask your bank how much they will charge for ATM withdrawals in Italy. Also, many people have trouble getting money from ATMs in Italy and have to try several different banks before finding a cash machine that gives them cash.

<i>charged an 18% fee</i>
Outrageous. Where did you hear this? The maximum for USA cards is 3% and minimum is 1%.

Andrew

Check with your bank. Visa/Mastercard Credit cards usually charge about 3%. American Express charges 2%. My credit union Visa charges only 1% (for a conversion fee), and my ATM card is also 1% for conversion. A few rare cards (Capitol One) don't have any charges.

vslparis

I have never had any problem using my ATM in Italy for cash. Not sure of the percertage charged by the banks, but it is certainly less then a cash advance on a credit card at an ATM. Just make sure that you notify your bank that you will be using your ATM in Europe.

ellenem

Perhaps the 18% you mention refers to the finance charge you would be immediately assessed for getting CASH with your credit card, not for using your credit card to charge items.

Only use your credit card to get cash in an extreme emergency. Most credit cards would start charging their highest finance charge from the moment you get the cash--no 25-day grace period.

As others have said, for regular charges on your credit card, you might pay a fee of up to 3% depending on your particular credit card.

Zakochaney

Call your bank to let them know you are going and use your debit card. You get the best and most recent exchange rates with minimum fees. We were in Rome in Nov '05 and '06 and had no problem with ATM's. They do have two different ones so if your card doesn't work in one try a different name i.e. Bankomat, etc. We got cash in Rome, Tuscany, Assisi etc and no problems.

Don't get euros at the airport, their exchange rate is the worst. You can always buy a few euros from your bank here to have some ready cash when you arrive for taxis etc.

Have a fun trip &amp; enjoy!

dmille

thanks. The 18% I was referring to was when using the credit card. Now it's clear that it is for the immediate finance charge for cash advances without a grace period. Initially I interpreted the 18% for credit charges. Thanks for the tip of getting Euros here to start off with.

GSteed

Saving pennies? Merchants accepting credit cards are charged fees by the card company for honoring them. The rates vary. American Express charges merchants more than Visa or Mastercard. You may be able to pay a bill with the local currency at a lower price if you ask! The USA government got into this and refused to allow merchants to add the card cost to a bill! Savvy merchants simply raised their prices to everyone! Today you can make arrangements to pay credit card bills using the internet and your bank account. This will save you penalties if you are out of your country when the monthly bill comes due. Inquire at your bank.