Leaving for Italy next week, Question about money
 

Hello - I am a newcomer to this wonderful site.
I am leaving for Florence next Thursday for a Photography Assignment. We will be staying in a villa in Florence for about 1 week. My question is, do we bring traveler's checks or use our ATM card for cash once we get there?

Thank you in advance for taking the time to respond.

Some people prefer to arrive with a few Euros in their pocket..usually enough to get you to the first ATM and then use an ATM to get money after that.

TCs IMO are inconvenient since they can be a hassle to use/find a place that takes them/exchange them, etc.

ATMs, hands down:

1. TCs are often refused as a form of direct payment.

2. Where they are accepted the business may not give any change from them, even when denominated in euros (my experience in France)

3. When TCs are in dollars you are at the mercy of the bank's exchange rate.

4. In all cases, you have to line up; may have to show passport; you are confined to banking hours.

I can think of no advantages that the ATM option cannot match or surpass.

Grab a few Euros before leaving for cabs, toilets and such, then ATM everything after that. First trip used TC, only my hotel would cash them (although not pleased about it). Now we are strictly ATM and charge cards and it makes life so much easier including keeping track fo you expenses. Remember, have the available cash in your checking account, not all ATM give you the option of which account (checking, saving...) to withdraw from.
Have fun, Lisa S

I agree about the ATMs, but I can't be sure that it doesn't make sense to at least bring a hundred bucks or so in Traveler's Checks (if you don't use it, you can always turn it back into cash when you get home).

The only reason is that I remember a situation last year when my friend brought her ATM card over to Italy as her only means of money, and we went through all of Florence trying every single bancomat (ATM machine) without any luck at withdrawing money. I don't know what problem it was, but in the end it made me a believer that, just in case, it makes sense to carry some other mode of getting money.

I used my credit cards(Amex) everywhere and only used the ATM's to get euros for the bus, train, taxis, small shops, etc. Just be prepared for sticker shock. Once I got to Europe I found an ATM at the airport to get some euros before heading off into town.

1) Buy some euros ahead (optional)
2) ATM card(s)
3) Take some US cash (for emergency)
4) Credit card(s)
5) TCs (optional)

ATM's are the way to go, but have a few Euros on hand in case the airport or train station's ATM's aren't functioning (happened to me upon arrival in Paris last year). Had enough Euros for the cab to the hotel and was directed to an ATM by the hotel staff. We took along about $1000 in traveller's checks just in case of an emergency (eg: lost or stolen ATM or credit card) but deposited them into the savings account when we returned. Used the credit card for everything we could ... a tip ... carry one card and have your travelling companion carry different one. If one of you loses a card you will still have a functioning card to use for the remainder of the trip. Last year I had the Visa and my daughter carried the American Express.

Using Tc's in Portugal last yr cost us a bundle in surcharges at banks, etc. for changing them. Get your bank here to get you a few hundred Euros to start with and use the machines and your credit card where available...Big banks are now surcharging on the conversions back to $$'s, so if there's time get a credit union cc instead of a commercial bank cc. It'll save you lots--if not acres...Buon Viagge!

Definitely ATM and credit cards are the way to go.

Also, to be on the safe side, your password should not begin with a zero and must be at least four digits because some banks require it.

I make it a practice to call my credit card and debit card companies in advance of my trip and inform them of the countries I'll be visiting and the approximate dates that I'll be there. I do this because I've had accounts frozen when I've purchased something outside my normal spending pattern, when the card company's loss/fraud prevention software kicks in. Because I don't take TC's (but do carry some Euros) and rely heavily on credit or debit cards, having an account frozen while I'm overseas would be more of a hassle than calling in advance.

Thank you all so much for such valuable advice!

7 days to go...

One last suggestion: Find out what your ATM card charges per cash withdrawal and, if possible, the per withdrawal cash limit. You'll probably find that it can get expensive if you take out small cash amounts on a frequent basis rather than the maximum amount less often.

Don't forget to check with your bank regarding how much you can withdraw daily usually $500 but remember the euro and figure that in. Also if it is $500 a day keep in mind that most banks count friday, saturday and sunday as 1 day and you cannot draw out each of those days. My daughter just ran into that in Florence. We carry two seperate debit cards, hubby will have one from our account and I will use one of my kids debit cards that I am also on the account for and make sure we have money in that account just in case. My bank will only allow debit from checking account when in a foreign country not the savings. Good Luck and have fun, stupid euro and dollar value. We are going over again in May.

Do not screw around with TC, too much hassle these days, primarily obtaining them to start, a pain. Use your ATM card and keep cash to exchange for emergencies. Happy travels.