Euros ??

[joefromchicago]

We are taking our first cruise out of Rome and wondering about when to get Euros. We live in Chicago and I can get them from a bank but some people are telling me to use an ATM in Rome. Does anybody have any advise for us first timers.

 

Thanks to everyone for helping.

 

Joe

[cruisemom42]

There are many, many discussions of this topic; to find them you can use the search function.

 

As a synopsis, you will almost always get a better exchange rate using an ATM (even figuring in the withdrawal fee) than you will get by obtaining euros in the US from a bank or elsewhere.

 

Although banks may have no official "fee", they mark up the exchange rate -- quite substantially in some cases.

 

The safest bet is to get a few euro before you go (enough to see you through your immediate needs, although I've never had a problem finding an ATM in an airport), then use ATMs to obtain euro as needed.

 

Always use a debit card in ATMs, not a credit card -- credit card companies consider withdrawals as a cash advance and charge an exorbitant interest rate.

 

Capital One credit cards have no foreign exchange fee. If you plan to use a credit card in Europe, it might make sense to look into getting one of these.

 

Make sure your PIN is a 4-digit number (most ATMs will not accept longer PINs) and that you know the actual numbers, not just the letters.

 

Finally, let your bank and your credit card company know that you will be traveling to avoid having your account(s) frozen.

[labeachcomber]

On our recent Equinox cruise, we solely used ATMs (or Bancomats as they seem to be known in Italy) to get Euros and paid in cash everywhere we went.

 

My WellsFargo ATM card gave us an exchange rate anywhere from $1.27 to 1.29, which I think was the going rate at the time. I think my banking must be set-up with them in a way that I don't get a transaction fee, because I don't see any on my statements.

 

Would highly highly recommend not using a credit card to get cash from ATMs, because as mentioned they will charge you exorbitant cash advance interest fees. Pretty much everybody can get an ATM card these days, no? There should be no reason to use a credit card.

 

The only minor difficulty we encountered was one Bancomat, even after we switched the instructions to English, was very difficult to understand. There were four options and I couldn't even really tell which one I needed to push to get money. When I did end up with the right one, it said that this was a cash advance and that there was a 6% charge. As we were stuck and needed cash, there wasn't anything we could do. I did check my bank statement later and it was processed just as a straight withdrawal without this interest charge.

[joefromchicago]

Thanks for the great and quick responses.

 

Joe

[riffatsea]

Wells Fargo usually charges $5 per withdrawal from an ATM and then Visa/Plus charges 3% for using their ATMs. The 3% is hidden in the exchange rate(making it higher than the official interbank rate) but the $5 should have showed up somewhere.

[hubofhockey]

We couldn't get a Capital One debit card in Massachusetts as they don't have a bank in Massachusetts. But my PapPal Debit Mastercard worked just fine and the rates I got were the official exchange rates. They could have charged us a dollar for each withdrawal. I never saw the charge on the transaction receipt or in my online paypal summary. If you already have a PayPal account, the card is free. You do need to move money into your PayPal account. If your regular bank is linked for PayPal purchases, it's not good enough. We transferred cash from our checking account into our PayPal account. It takes 4 business days to clear. If you do it, move money a week before you travel. We did buy (overpay for) one or two days worth of euros in the US before we left as a "just in case" something would go wrong or if we needed cash right away. We'll do the same next year.

[LittleMissS]

I can't comment on getting Euros in Rome, but I CAN say that getting a prepaid Visa card from AAA was probably the best decision I made for a recent trip to Europe. (I was concerned about it being stolen or identity theft) You have to pay $5 for the card, and then you put whatever amount you want on that card. You can use it as a Visa, or at an ATM (I'm sure there are fees involved, but I wan't overly concerned with them). You don't have to call your bank to tell them you're in a different country. Your name isn't on the card, so that if it gets stolen, nobody can take your identity. And if it does get stolen, AAA will get you another card and refund that money to you. You can also use it at home as well (I didn't spend all of the money I put on it, so I will use it here in the States). Just thought I would share.

[EAGLESLOVER]

There are many, many discussions of this topic; to find them you can use the search function.

 

As a synopsis, you will almost always get a better exchange rate using an ATM (even figuring in the withdrawal fee) than you will get by obtaining euros in the US from a bank or elsewhere.

 

Although banks may have no official "fee", they mark up the exchange rate -- quite substantially in some cases.

 

The safest bet is to get a few euro before you go (enough to see you through your immediate needs, although I've never had a problem finding an ATM in an airport), then use ATMs to obtain euro as needed.

 

Always use a debit card in ATMs, not a credit card -- credit card companies consider withdrawals as a cash advance and charge an exorbitant interest rate.

Capital One credit cards have no foreign exchange fee. If you plan to use a credit card in Europe, it might make sense to look into getting one of these.

 

Make sure your PIN is a 4-digit number (most ATMs will not accept longer PINs) and that you know the actual numbers, not just the letters.

 

Finally, let your bank and your credit card company know that you will be traveling to avoid having your account(s) frozen.

 

 

Is it also true that Capital One Debit cards have no foreign exchange fee??

[chipmaster]

If you only need a couple hundred Euros for pocket change for snacks and such do the ATM. They will be there at the airport and you'll find them almost everywhere. Just be aware of your banks out of network fees and daily limits.

 

If you need more then a couple hundred, say a thousand or more for private tours, I'd swallow the additional exchange fees from the local banks and order them before you go. Yes the rate isn't as good, but for such a large sum you simply don't want to be making multiple ATM stops when time is such a premium on the cruise.

[slidergirl]

When I did my first trip to Europe post-Euro introduction, I bought 100EU here in the US. That way, I had money right from the start in case I wanted to get something to eat or drink or catch a cab before I could get to an ATM. I always bring about 100 EU home with me so that I have that "first cash" available for the next time. Once I'm there, I just hit the ATMs as needed.

Something else to recommend a few Euros beforehand: This last time I went to Spain and Italy, we twice found the ATMs at the airport and train station (Barcelona and Pisa) not functioning for us and the folks behind us - either out of cash or out of order. Since I had some Euros, we could just go on our way and find an ATM later.

[CathyCruises]

Just an add-on to Cruise Mom's comments--when we arived in Pisa, there were NO ATM machines anywhere in the airport! Had to go to one of those horrid money exchange places so DH could get enough money to pay for the cab to our hotel.

 

That is the only time I have ever had difficulty with an ATM--normally they are everywhere. Leave it to me to fly in to the one place without one.

[euro cruiser]

Cathy, how long ago did that happen? Your post caught my attention because I'm bringing a group of 39 into the Pisa airport in October and I've been telling them not to worry about cash, that they can use the ATMs at the airport.

 

I just checked the Pisa airport web site, and they say there are a few ATMS there now (http://www.pisa-airport.com/aeroporto_di_pisa_114.html):

 

Banking services

 

Cassa di Risparmio di Pisa

The bank, a branch of the Cassa di Risparmio di Pisa, is located on the first floor of the terminal building.

• The bank is open from Monday to Sunday, from 8.30 am to 7.30 pm.
  

A cash dispenser is avaliable on the first floor of the terminal, next to the bank.

Another cash dispenser and a currency exchange machine are also available at the arrivals terminal, next to the Post Office.

Finally an other ATM machine inside the car rentals terminal.

You can call the bank at 050 41288.

 

[caripoo]

Don't leave home without some!!!! If you arrive and the ATM machines are busy and you need a few euros for tips or cabs you will have them already. I keep an eye out for the exchange rate and buy them in the US before we leave. I never exchange them back, always knowing I can use them for my next Europe trip. When euros were 119.00 in early July I purchased more for our upcoming celebrity cruise in Sept.:cool::cool:

[goose30]

Oh yes there are thousands upon thousands of dollars in transaction fees at stake here. So be sure to spend as much time as you can looking for the best rate.

 

Seriously unless you are dealing in currency exchange it makes very little difference fee wise when you get your Euros. Do what makes you comfortable.

 

Just don't get them from the guy on the corner with the sunglasses on.

[CathyCruises]

Cathy, how long ago did that happen? Your post caught my attention because I'm bringing a group of 39 into the Pisa airport in October and I've been telling them not to worry about cash, that they can use the ATMs at the airport.

 

I just checked the Pisa airport web site, and they say there are a few ATMS there now (http://www.pisa-airport.com/aeroporto_di_pisa_114.html):

 

Banking services

 

Cassa di Risparmio di Pisa

 

The bank, a branch of the Cassa di Risparmio di Pisa, is located on the first floor of the terminal building.

• The bank is open from Monday to Sunday, from 8.30 am to 7.30 pm.
  

A cash dispenser is avaliable on the first floor of the terminal, next to the bank.

Another cash dispenser and a currency exchange machine are also available at the arrivals terminal, next to the Post Office.

Finally an other ATM machine inside the car rentals terminal.

You can call the bank at 050 41288.

 

 

Well, we were there in January and looked everywhere for one--no luck. I think we may have arrived after 7:30, can't remember exactly. DH sat with the luggage while I walked through the airport. It's possible I missed one but we were on high alert. We decided to go on the trip last minute and left from California; too bad that we had a stash of euros from previous trips in our home in Idaho! Won't make that mistake again!

 

So DH just withdrew money on his debit card at the exchange place; I think we got 50 euros just to get into town and find a place to cash in!

[euro cruiser]

Hmm...thanks. A new worry! Oh well, we change planes in Rome and have nearly two hours, if everything is on time, so I guess I'll encourage everyone to use the ATMs at FCO so we won't have to worry about it.

[CathyCruises]

Exactly--we had a long layover at CDG and should have done it then. Don't know what we were thinking. . .

[slidergirl]

I didn't see any in Pisa, except the one at the car rental building. That was the one that didn't work for 4 of us in a row. As far as FCO goes, I saw exchanges, but no ATMs. Be aware that there are ATM-looking machines there, but they are exchanges.

[euro cruiser]

FCO has several ATM machines and I've used them many times.

[UKBayern]

If you need more then a couple hundred, say a thousand or more for private tours, I'd swallow the additional exchange fees from the local banks and order them before you go. Yes the rate isn't as good, but for such a large sum you simply don't want to be making multiple ATM stops when time is such a premium on the cruise.

 

It is extremely unwise to walk around with thousands in cash! Even if only in the airport, etc..... What good is saving a few bucks on ATM-charges if you end up being pickpocketed out of your life savings?

[cruisemom42]

I didn't see any in Pisa, except the one at the car rental building. That was the one that didn't work for 4 of us in a row. As far as FCO goes, I saw exchanges, but no ATMs. Be aware that there are ATM-looking machines there, but they are exchanges.

 

 

:confused::confused: I have used ATMs in FCO airport many times.

[euro cruiser]

:confused::confused: I have used ATMs in FCO airport many times.

Me too Cynthia. I wonder if people are missing them because they're looking for something that says "ATM" rather than "Bancomat"? FCO has one in the luggage claim area as well as in the duty free shopping areas in each terminal and in the arrivals hall.

[notentirelynormal]

It is extremely unwise to walk around with thousands in cash! Even if only in the airport, etc..... What good is saving a few bucks on ATM-charges if you end up being pickpocketed out of your life savings?

 

It isn't always a matter of "saving a few bucks". I need a large amount per day for our private tours, more then my daily withdrawal limit. I also don't want to spend my short time every single day looking for an ATM - my choice. I prefer to have the cash on hand and not worry about it. I will take the proper precautions and hope I'm not "the one" targeted. If the money they take is my "life savings", then I shouldn't have been spending it all on a cruise anyway.

[FKGirl]

There are definitely ATMs in the Pisa airport. More than one, in fact. you do need to go up the escalator to get to them, but the airport is so small it is no problem at all. Always go the ATM route. It is easy, fast and the cheapest way to get cash.

 

For most things, though, I use my capital one credit card - widely accepted, I get miles, and the exchange rate is favorable.

 

http://www.FloridaKeysGirl.com

[cruisemom42]

As far as obtaining euros, everyone should just figure out what works best for them. However, do understand that for the convenience of obtaining euros in advance, you will pay more for them.

 

I'm a little skeptical of the argument against "spending time" searching for ATMs. I've found ATMs to be plentiful in virtually any reasonably populous location. I've used them in locations ranging from large cities to small towns in Europe, Africa, Asia, and Central America. Hotel clerks, shopkeepers, waiters, and tour guides are all happy to point out the nearest ATM. I don't think it's ever taken me more than 5-10 minutes to locate one. And on the rare occasion when one didn't work, for any reason, another one is always nearby.

 

I don't like to "spend time" packing either, but it's a necessary part of travel -- just as using an ATM is, for me.

 

Withdrawal limits can be raised by speaking with your bank. You can always lower them again after your trip if you're worried about fraud or loss of your ATM card.