I am traveling with my wife to Italy next week. We converted some US currency into Euros at our local Chase, which we bank through. I was wondering what everyone's opinion is on converting the rest. Should we do it before we leave or wait until we get there? I've been reading mixed reviews on this. Some people say to use the ATMs in Italy, but I red change charges a 3% fee or something. I also read to use Credit Card, but my mastercard also charges the 3% international transaction fee. Just looking for more opinions from travels who have been to Italy recently. Thanks for the help in Advance!

Don't exchange any more cash -- here or in Italy. Use your ATM card to get cash and your visa/mastercard to charge things.

Yes, you will have fees w/ both -- but the fees are a lot less than the bad exchange rate you get at your local bank

Small fees are just part of the equation (the Italian banks won't charge you - just your own bank)

You are stuck w/ the € you already bought - no problem w/ that but don't compound it by buying more.

You could open a credit union account. My credit union ATM card and credit card only charges the 1% foreign currency conversion fee that is associated with Visa.

Definitely do not convert more USD to Euros at home. Wait until you can use an ATM in Italy.

If I open a credit union account now, I doubt I'll get a credit or debit card to use before I leave next week. I appreciate the opinions though. You both have been very helpful.

Even w/o a CU account -- your ATM/credit cards will get you the best rates. I wouldn't faff about opening a new account just to potentially save $1 or $2 per ATM withdrawal. Use the cards you already have.

Just to be clear, use your ATM card for cash but do NOT use your credit card to get cash, eddie, as you will be charged interest by your credit card co. from the day you acquire cash from your credit card. But of course do use your credit card to charge where possible. Also, when using your ATM card to get cash do use an ATM at a bank in Italy versus a nonbank ATM in Italy as you could be charged a fee with those type of nonbank ATM's. Be aware that at ATM's in Italy the money needs to come from your checking a/c and will not be available from a savings a/c that you might have at your US located bank. If by any chance you have your PIN memorized by letters do know what the numbers are as all ATM's I have used in Italy only show the numbers on the keys and not any letters. And keep in mind that there is a limit what you can withdraw from an ATM in Italy in spite of what your limit is with your US bank. But going to another ATM solves that problem. Have a wonderful time in Italy!

We found (January 2011) that we could withdraw 500 euro at a single transaction from an ATM. A couple of years ago, the limit was, I think, 250 euro. Inflation, I suppose.