Converting money in Italy. 8 money saving tips!
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- Опубликовано: 25 июл 2024
- Is it a good idea to convert your money in Italy and should you also exchange it before you travel? I am happy to share my tips based on extensive travel experience and frequent travel between Italy, the USA and European countries. For that matter should you even bother exchanging your money in Europe? Even though I don't do it anymore we are going to look at the best option to exchange your money before a trip and to convert your dollars to euros. Lastly I address the question of which types of ATMs in Italy you should use as in all honestly, this is how I deal with currency exchange when I travel back forth between Italy and the USA.
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pixabay.com/photos/credit-car... swiping card
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I’ll be in Italy in two weeks and this video is super helpful! Thank you!
Thanks for this video! It’s hard to find a straight forward video with this information. It’s greatly appreciated!
You're welcome and thank you for the positive feedback!
This was so helpful, thanks David!
Glad to help !
thank you. very helpful
Thanks David.
I'm so new to all of this, never been out of the u.s and I'm trying to learn as much
We all start somewhere Leaving the US is or can be a great learning experience
There is nothing wrong to bring 200 - 300 euros to your trip bought from your local US bank, the exchange rate/fees are fair and you can ask for lower denominations, that way you can start your moving around the minute you arrive at an european airport and if need be withdraw money form a formal bank ATM some days down the road.
Simply adore your videos!!🥰
Wow ! Thank you 😊. Any favorites in particular ?
@@DavidsDoseofItaly .....the ones on ROMA TERMINI.....as a solo traveller with the worst sense of direction on Planet Earth you are fulfilling a great need as they ease my anxieties,so I see you as my saviour😇Then too your personality shines through!🥰Keep up the good work,Blessings always.
🥰🥰🥰🥰
Don’t beat yourself up too much about the lack of direction. I was at Termini a few months ago and I had to change lines. I was literally trying to remember what I said in my own video and for a second I got lost! I Blame the bad signage at Termini!
@@DavidsDoseofItaly ......I have to go to Civitavecchia from Termini to take up a cruise on the 27th August,but leaving home on the 23rd(next Wednesday)I will be walking to the station from via Panisperna 95 .Lawd I have been going through so many videos and articles but still unsure.Thinking of finding the first Information station to ask for guidance and direction.....would love to have your tips and suggestions.Stay sweet!😍😇
Excellent video and great tips! These days you do not need cash.
In Italy you are right to warn that small businesses will complain if you want to pay small amounts (less than 10/20 euros) by card. Debit is also preferred by small businesses as they get charged less commissions.
I didn't know that. Thx Mike! Fortunately I can see things changing for the better and that more small businesses will get with the times. I could be wrong however. Time will tell!
Thanks David
You’re welcome
I've never been to Italy but I've always pictured having enough cash on me (safely on me, ofc) to eat or drink or shop at local businesses and use cards to pay at larger institutions that won't suffer much with larger commissions.
I believe the conversion trick from ATMs is that they make more money out of it than if your Bank is the one that does the math for the conversion at the American/International currency exchange rates.
Yeah. When eating at small places cash is appreciated. I don’t quite understand the ATM conversion trick. What do you mean?
ATMS here make their money by asking you to covert euros into your currency. Also the ones that rip you off are the ones that aren’t associated with a bank
I do two things i take euros with me usually left over euro bills and coins from previous trips. I also the bancomat atm. I have once had us currency that i wanted to convert very hard in Italia, regardless of the bank, but hotels that you stay at will, but watch the roe. I always save the coins to save time. Great video NB that new red curve card no fees no hassles. Mark Felice showed it on his euro trotter videos.
I hadn't thought of doing it at hotels and thank for you suggesting that here. I just watched a video on the curve card. I hadn't heard about it till today and knowing me I'll need to see how it performs over time before I consider buying it. I'm usually the last to latch onto a fad! Thanks!
Excellent information, David~! Thank you so much. I made notes to refer to for later. Our situation is we're moving to Sicily in March. Our first priority is getting an automatic transmission car and renting an apartment or villa. Then we can open a bank account once we have a local address. I checked the AAA links and will have to stop by a local branch to see exchange rate info. Not really sure how much cash we should convert from USD to Euro Dollar before we leave. It's all a bit overwhelming, but one step at a time. Thanks for the info! Ciao.
Hey! Thank you! Congrats on your future move. I wouldn't worry about getting an automatic transmission car. Mine is automatic and we bought it, of all places, in Sicily. How much cash to bring depends on how much you think you'll need. Once you set up a bank account you won't need as much cash as you can begin to use your debit card. Funny you should mention banks as I need to change mine.
Well, that's encouraging to hear! Thanks. I'll be in touch. :-)
Love your videos. We always go to AAA and get a couple of hundred euros. It is always important to me to have money upon arrival in the country…for bus, taxi, snacks, etc. We then try to use our card every chance we get while traveling around…but then have fallback cash as needed.
Thank you! Fortunately, Italy has kept up with the times in regards to using your card. In fact I use my card more than cash nowadays.
@@DavidsDoseofItaly but what about currency exchange fees? Even if your card does'nt charge foreign transaction fees, don't you still get charged a currency exchange fee? And if not, what bank?
As a solo traveler, I have learned to get enough 5 Euros ahead of time. An ATM will give you only 20's or 50's and banks will not let you conert those to smaller. So I make sure to leave the hotel each morning with at least two 5 euro bills and one 10 and I hoard whatever coins i get 😂( water bottle, washrooms, coffee, gelato) Also, once in a while, I don't mind handing out a 1 or 2 euro to a street merchant for a bobble or for directions (they need to live too).
I googled and was informed that the best exchange rate is from your local banks. That’s what I did before the trip to Europe in May.
Thank you for the confirmation. I’m glad this is still true.
We always carry some euros before the trip and use ATM. Pay always with credit card.
cuqui Moreno wise choice !
Question of the week: How to do convert your money??
I am often in Italy: great people, good food, historic cities and beautiful landscapes. But the best is: I don't have to exchange money at all! Great, isn't it?
How come ?
I always have about 500 or 600 euros on me carried over from my last trip, when in Italy I always go to the ATM at the bank, there has been problems getting money but it always seems to work it’s surely not as easy as in the states
What sort of problems?
Hi thanks for the video . I have a question can I use the Italian euro to France ? Thanks
Hi. Thank you 😊
Yes, you can because they both use the euro currency
Great video! Informative and right to the point. We're (hopefully) going this June and are taking a combination of Euros and debit card. My only fear comes from the horror stories I've heard that my Visa Debit card from my bank (California) won't work even if I notify my bank. I'm researching Travel Money Cards. Any suggestions?
Hi terry. I don’t think you have anything to worry about. My US debit card works no problem and that little bank isn’t the greatest. I’m not travel money cards but if you want to get a prepaid card just be sure it’s not restricted to Stateside use and that it says Visa or MasterCard on it or something similar.
FYI…I use a Bank of America VISA Travel card that builds points for all purchases. Just two weeks ago, I traded in enough points to bring my Business Class flight to Florence down to $900! It pays off. I never use debit cards while traveling. If they fall into the wrong hands it is a direct line to the cash you have in the bank.
I have traveled internationally extensively for the last 7 years. Best advice, make sure your card does not charge International exchange fees. My Capital One Visa card emails me every time it's declined. They allow me to email them back to confirm. It is me not a scammer. Make sure you take more than one card. And both banks know you're coming. Keep these credit cards in 2 different places. So if a pickpocket gets you you still have a card. Is best of luck.
Thanks for the tips! But it's okay to use bancomat at FCO right, and say no to do you want to convert. 👍
Hi Marcia. I was just at the airport in Roma couple days ago and I can’t confirm or deny if there are ATMs, which belong to official banks. I did, however, see ATMs from a company called euronet. I definitely wouldn’t use them because I’ve heard bad things about them and I believe that the commission is high. Honestly, you can use your card for many things are in Italy. I wouldn’t convert your cash in the airport and I would just wait until you come to a real bank in town.
On the flipside, I’ve just come back from the states and I really didn’t need to use paper dollars that much
Hi David, really GREAT videos.......You mentioned NOT to convert your money at the airport. When I fly in and take a taxi into Rome, will the taxi take a credit card? Thanks.
They’ve begun to accept it yes.
@@DavidsDoseofItaly , since the train is 14 euro's each(42 total for 3 people) to Termini, then trying to get to lodging from there, wouldn't it just make more sense for 48 euro's to just take a taxi directly to my Airbnb in Rome? Is the 48 euro's for 3 people AND 3 suitcases? Thanks.
Definitely. For 6 euros more you’ve bought yourself much needed convenience.
Ciao Davide! I use Wise card! 😂
Ciao ! Ah. How is that working out for you? I use wise often to transfer money
@@DavidsDoseofItaly I used it to transfer money too and I paid for a hotel online but that’s it so far! I’ll know more next Sunday when I arrive in Rome!
Nice. If you can let me know how you make out with the card. Buon viaggio!
Will do! It’s the first time using it to pay a hotel. I did pay for Ryanair flight although I did it through PayPal. They confirmed the flight so it must’ve went through. The hotel hasn’t confirmed yet so I don’t know if the card went through because it doesn’t show any transaction of it. Go figure!
It looks like it’s in the hybrid stages.
You say you just want to hit PROCEED. But the choices at the ATM were "continue with NO CONVERSION" ...or..."PROCEED". So which is it? Look at the video at 2:54 on timeline.
You want to first tap continue with no conversion. Then it'll take you to a screen with two options, cancel or proceed. At that point hit proceed
Beat me to it Kathy, appreciated!
@@DavidsDoseofItaly thank you!
What bank do you recommend in Italy
Also can an American open up a bank account in Italy?
Hi Michael.
I think it depends on the bank because not all the banks have this option for foreigners. I am told Intesa San Paolo might be your best bet. In fact I have them and they’re ok.
You will need to sign an agreement that allows the bank to share your information with the US government which is a law that was passed in recent years if you are a US citizen opening up an account abroad. It is what it is. You may need a codice fiscale (Italian SSN) and possibly residence in Italy but I can’t confirm that.
As for what banks I recommend, I am actually still hunting around because I think there are better deals out there. I want to try N26 or also. Revolut
When I arrive at the airport and need to buy a taxi, where do I get euro to pay right away?
Look for a bank atm I say Bank because you wanna make sure it’s associated with one. Otherwise, if it’s a private ATM, then you’ll be charged a lot in commission. A proper Taxi will accept cards you can pay that way too.
Hey! How about exchanging at la posta? I’ve read that it could be a good option…
Hhmm. That’s an idea. I wonder if it’s worth it
Please use cash !! Most of the credit cards got foreign transaction fee.
You need to check with your bank before you leave to see if those fees are included. if not, you can use your card for most things here.
OK I had a question for ya what happen if you don't remember your pin number then what are you do?
I’d contact my bank and make sure you have international calling enabled before you leave.
@@DavidsDoseofItaly Thank you
so it lira or euro better to take
??
The Lira doesn’t exist anymore
How about Apple pay
Sure I use it. It’s a lifesaver
This vid is spot on. I just got back from Rome, and some Taxis want to be paid in cash, airport to local abnb, usually 28-35 euros. Best to have about 200 in Euros, so that you are not just looking around for a good bank atm. Some hotels want their cash tax in cash, for all days in advance. However, most will take credit card.
I got ripped 3 times on the ATM conversion scam. I was looking to figure out why in the vid? I dont remember the proceed without conversion. But makes sense--the atm did the "work" and cost me $25. However, 3 times I used Debit card--got ripped off. 200euro=235usa, 175euro-200usa, about $25 dollars. The last time I used my credit card it was about $12 for $90 euro. I used the airports on the first 3..., while the last one was in town. at the time, it was 1:1 dollar to euro. so a major scam.
Triple AAA has good rates. But you have to be a member. They also do the international driver license for $35. Best rates vary with large banks, you have to check, and takes a few days to get it to you.
I’m sorry you got ripped off but I suspect it was because you went to an ATM that wasn’t affiliated with a bank. Those are the worst !
I don't understand, when you get money from the atm why not convert? Don't you have to?
That is correct. If you put a foreign debit card into the ATM, the conversion to euros is done automatically for you.
But didn't you say not to convert? Sorry, I'm just confused. I'm going to Italy in July and this is the part where I'm still confused lol. Any help would be appreciated. I'm told to just take euros from the States. @@DavidsDoseofItaly
AAA does not exchange anymore.
That’s good to know. Thanks for the update.
Hello sir can you help me i want to invest money or make money how to do it help me sir please
I'll try. what do you want to invest in? What business model interests you in order to make money?
Hey Italian euro.
Hello
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I am in China. I need to hand on the application fee for Sapienza University, but failed by my visa card. It seems that it needs Italian VAT. Could someone help me pay 30 euro?