Italy ATM fees
 

Good morning, I was reading a few posts on ATM fees I believe from Portugal travel and I realized things seem to have changed since our previous trips. I have a Schwab debit card and we usually tried to go to a bank atm inside. I would always ask for local currency. It seems that more scams are out there and I was hoping a few recent travelers may assist us to avoid this problem. We will be in Italy for our vacation.
Thanks,
Mcs

Some of the banks now charge to withdraw. Banca Intesa does.

Some don't. The smaller ones are less likely. BNL doesn't. Some of these will offer you DCC (They'll offer you US$ rate instead of letting your bank do the conversion) but they all let you refuse it .

NB I obviously can't promise you things won't change in the next 30 seconds or beyond.

We were in Italy for the month of June. Used BNL with no problems and my bank has an arrangement with them so no fees.
Always refused the DCC, no issues.
A couple of times when paying with a credit card there was the DCC offer, again no problem refusing it.

Thanks raincity and travelernick, I was hoping this wouldn't be a big issue. I appreciate your information.
mcs

Does anyone here know what the fee is with Unicredit? We're arriving FCO and I understand that Euronet has high fees, but wondering about Unicredit (I believe they are the other ATM available in my arrival terminal). Thanks!

If there is a withdrawal charge/atm usage fee Charles Schwab will cover it. You just want to avoid the DCC.

It's not a "scam". You just need to know about Dynamic Currency Conversion (what it means, and not to accept it).

I haven't used Unicredit in awhile but memory tells me it wasn't charging then. If I get a chance I'll check this weekend.

Thanks everyone for your comments. Joan I used the word scam because a few of the articles I read referred to DCC as a scam . $Wise the most recent, regardless of terms I like most would prefer to keep the extra cash in my pocket not the banks.
Best,
Mcsles

Thanks Traveler Nick! Just trying to see if it's so exorbitant that it makes bringing euros from the US worthwhile. Last time I was in Italy there were no bank ATM fees, but I've read recently that's not true anymore.

used the word scam because a few of the articles I read referred to DCC as a scam

Probably because people don't like it -lol- but it's not truly a "scam"... just something you need to watch out for. It's right there on the screen of the ATM machine. You just need to decline it.

I always get foreign currency ordered online picked up a branch of my own bank at home. It may cost a little more but I like the security. I had one Mexico trip where my debit card would not work anywhere (problem with home bank). I would have been 'up the creek' if I didn't have cash and credit card also with me.

On my recent trip to the UK I ran into 4 or 5 different merchant/cafes (mainstream chains) that no longer accept cash . I had about £25 left over from my last trip and withdrew £100 out of an ATM at LHR (declining the DCC of course ;) ) so I'd have some 'pocket money' . . . and came home with £40 or £50 of that. Used a lot less cash than on any previous trip. Twice I did have to direct the waiter to run a credit card charge in £ instead of $.

Taking / taking out a boatload of currency isn't really a great idea any more.

I consider DCC very much a scam. It's sole purpose is to make money from the uninformed, under the guise of "convenience" .

There was a time, several years ago, when we weren't given a choice - DCC was automatically applied, no other option given. I once fought tooth and nail with an Australian restaurant, refusing to pay in USD. They seemed totally in the dark, telling me it was automatic on their credit card machines. We ended up paying in cash, as the restaurant staff didn't seem to know how to override the system so we could pay in AUS dollars.

These days, there usually seems to be an option, although it can take some effort to find it.

The greedy bastards - the beneficiaries of DCC (financial service providers who market the DCC system as well as the merchants and ATM operators) have just learned to be more sneaky IMO.

Melynq8 and others I appreciate your input. We did get 500 euro here in Chicago for our trip. We are in Italy for 57 days and know we will use CC for most transactions. The cash was our security for the lunch that was fast and didn't take the card. We even had a few spots 2 years ago in rural France that wouldn't accept our CC and thankfully we had the cash. The deception is wrong and unfortunate. As a traveler I am on this site to be educated and wise to what lies ahead. Thanks all.

Today Unicredit no fee. Can't promise it won't change Monday but at least right now no withdrawal charges.

It's now illegal in Italy to refuse to take payment with a card. Italy is cracking down on tax evasion and the cash economy is one of the main mechanisms.

I would push back if they refuse your card.

thanks Nick!

Even in places like flea markets?

I assume even in flea markets. All of the itinerant vendors at our town's weekly market have POS devices.

Italy Post office
 

I use Post Office to take my money out of an auto teller as you have to go inside to get your money, a lot safer , as a lot of banks don’t allow you inside unless you have a swipe card to enter jen🌻

For some place like a flea market or farmers market, wouldn't it be easier to just have cash?

Easier isn't the point. Sellers are obligated to take cards. Now the fine is only €30 or something so they may feel the fine is cheaper than taking cards but they're required.

It's certainly easy for the vendor, especially if he's trying to avoid declaring his true income. That's exactly the point of the law.

I understand the reason for this new law but if any stall holder at a local market has to get a merchant id (not always easy) and an EFTPOS machine, that's quite a burden if they are not regular stall holders.

I 100% think that everyone should pay the taxes they owe (especially big corporations and the privately wealthy too) but I still like paying cash for small items, especially when travelling. Having to have my credit card on hand instead of tucked away safely bothers me, as does the increased opportunity for the card to be compromised.

It seems like just a breath ago that there was a minimum card payment value, and now you can put any small amount on your card. One thing that really annoys me is when a place won't accept cash (isn't it legal tender?) but then charges a credit/debit card transaction fee on the bill. Card transaction fees have only become widespread here since Covid. Is this happening in Italy (or Europe)?

Card payments are much more common in Italy after Covid. In the rest of Europe I think it'll depend on the country just like anything else. Last numbers I saw the UK had passed 90% card use. That has led to ATMs being removed and even bank branches closing.

Like anything else it ends up being a political issue. The people most hurt by the loss of ATMs and cash payments aren't tourists or the well off. It'll be interesting when/if any Italian politician notices that.

I don't know about Italy, but certainly in Britain portable card readers can now be bought very cheaply, and transaction fees are quite low. For many businesses, cash is an encumbrance, needing to be counted and banked, and accounting is easier with electronic payments. The number of banks is shrinking fast, with som small towns having no banks at all, which makes paying in cash very difficult. Handling cash can work out more expensive than paying transaction fees.

There are now apps that accept card payments. I don't know what they usually cost, but I saw one for €29. There may also be a per-transaction fee.

In Italy, you need a Partita IVA (a commercial taxpayer id) for any sort of self-employment, even if it's occasional, so that would apply to any sort of market activity. It's not allowed to attach a card transaction fee.

ATMs are on their way out. They're still common in Italy, but when we were in the Netherlands a few years ago, it was very difficult to find one. A lot of elderly people here go to the bank or post office to withdraw cash; they never learned to use an ATM. If you're worried about exposing your credit card, use an debit card which requires a PIN, preferably attached to an account with a low monthly limit. Or you could use a prepaid card, although they are not the economically convenient choice.