Bringing Euros to Rome

[kidoctr]

Is there a limit to the amount of Euros that we can bring in to Italy from the US? I'm planning on buying Euros from my home bank (a free service!) and bringing them with us rather than exchanging through an ATM. I realize it's a bit risky to carry that much cash but we'll be rushed to get to the port from the airport and won't have time to get to an ATM. I'm trying to maximize our "ROI" by buying from our bank. I remember when you have to fill out the immigration form, it always asks about cash that you're bringing in. Anyone know if there's a "limit"? Thanks ~ Eve

[kasi1979]

In all European Countries whose currency is the euro, you should face no problems bringing your money for vacation. The only amount I´m aware of is 10000 Euro or more, which will raise questions due to our regulations to prevent money laundering.

[Jetdriver787]

No there isn't, however (just as in the US) to comply with anti money laundering regulations you must declare any cash or negotiable instrument in excess of 10,000 euros or equivalent ( e.g travellers checks, foreign currency etc.) If you do, you will be given another form to fill in.

 

Presumably you will only be carrying a sensible amount of cash and well below this figure, in which case you needn't worry nor make a seperate declaration. There are ATM machines everywhere, and as always you are safer carrying your funds in card form or travellers checks. In the case of the latter you might find it less easy to spend them as you would in the US, although changing them at banks, exchange facilities and some hotels shouldn't present too much of a problem.

[rebeccalouise]

There is no sense in bringing too many Euros. Use your credit cards where necessary. Let your credit card company know that you plan to be in Europe- otherwise your purchases may be declined. Make sure to bring the phone number for outside the US in case you lose your card or have questions.

[chipmaster]

Is there a limit to the amount of Euros that we can bring in to Italy from the US? I'm planning on buying Euros from my home bank (a free service!) and bringing them with us rather than exchanging through an ATM. I realize it's a bit risky to carry that much cash but we'll be rushed to get to the port from the airport and won't have time to get to an ATM. I'm trying to maximize our "ROI" by buying from our bank. I remember when you have to fill out the immigration form, it always asks about cash that you're bringing in. Anyone know if there's a "limit"? Thanks ~ Eve

 

There is NO limit from the US but you need to declare anything above 10,000 US. In this day of the lower dollar that ain't too much Euros :mad:

 

http://help.cbp.gov/cgi-bin/customs.cfg/php/enduser/std_adp.php?p_faqid=447&p_created=1043364939&p_sid=yLrhg*6j&p_accessibility=0&p_redirect=&p_lva=&p_sp=cF9zcmNoPSZwX3NvcnRfYnk9JnBfZ3JpZHNvcnQ9JnBfcm93X2NudD02MzMsNjMzJnBfcHJvZHM9JnBfY2F0cz0mcF9wdj0mcF9jdj0mcF9zZWFyY2hfdHlwZT1hbnN3ZXJzLnNlYXJjaF9ubCZwX3BhZ2U9MQ**&p_li=&p_topview=1

[Susan-M]

I'm planning on buying Euros from my home bank (a free service!) and bringing them with us rather than exchanging through an ATM.

 

Although your bank is providing Euros with no service fee, is their exchange rate favorable? A good place to check current rates is: http://finance.yahoo.com/currency?u

[stever]

Susan-M brings up a good point. My bank said no fee but they want $1.68 US for $1 EUR. That is about 8% over the current exchange rate of 1.55. They claim all banks are charging this rate.

[kidoctr]

Thanks for the info everybody! Our bank says it uses current exchange rates. I plan on waiting until August when the USD value is predicted to be slightly better than it is right now. :rolleyes: I don't think we'll have an issue with the 10,000 Euro limit. ;) Almost all of our privately booked tours require cash Euro payment. I know that my bank does charge a service fee for foreign ATM withdrawals and I'm sure there's a daily limit. I just think it's going to be such an aggravation using ATMs when we hit ports - either finding them or fighting the masses to use them. I don't want to be the one holding up the tour waiting for the ATM. :o Thanks again for sharing your knowledge!

[Susan-M]

Our bank says it uses current exchange rates.

 

When a bank refers to "the current exchange rate" if often means the rate that they set for buying and selling foreign currency.

[Jade13]

There is no sense in bringing too many Euros. Use your credit cards where necessary. Let your credit card company know that you plan to be in Europe- otherwise your purchases may be declined. Make sure to bring the phone number for outside the US in case you lose your card or have questions.

 

 

????

 

We brought all cash EUR last year and plan to do the same this year. All of the private tour companies were cash only, as was the company that did our transfers. We paid cash at our hotel as there was a 10% discount.

 

I only used my credit card twice. Once to buy Mallorca pearls on a HAL excusion to the factory, and of course to pay my ship bill in US dollars.

[lisiamc]

There are ATM machines everywhere, and as always you are safer carrying your funds in card form or travellers checks. In the case of the latter you might find it less easy to spend them as you would in the US, although changing them at banks, exchange facilities and some hotels shouldn't present too much of a problem.[/quote]

 

We had huge problems cashing ours in Italy a couple of years ago. Nobody really wanted them, and the fees reflected this (and they were Euro cheques, so no exhange rate to worry about.) Also be aware that banks often keep shorter hours than in the US.

 

ATMs work best for us, along with a "starter" wodge of cash because I've had problems getting to a working ATM twice now.

 

Lisa

[cruisemom42]

When a bank refers to "the current exchange rate" if often means the rate that they set for buying and selling foreign currency.

 

 

Agreed.

 

I suggest you find out what your bank's exchange rate is today, for example, and compare to the official rate.

 

This has been discussed at length on other threads and, once prompted to check, most people realize that the bank service isn't exactly as "free" as it appears...:cool:

[kidoctr]

Thanks for the tip. I'll check with the bank and see what today's rate is...

[kidoctr]

Yup, checked with my bank today and their "current rate" is $1.6584 with the market exchange rate at $1.5588. :rolleyes: The minimum is $250 otherwise there's a $10 service fee. So, if I buy $250 at their "current rate", the difference is $10....just like a $10 service fee. LOL. Thanks for the heads up!

[whogo]

Yup, checked with my bank today and their "current rate" is $1.6584 with the market exchange rate at $1.5588. :rolleyes: The minimum is $250 otherwise there's a $10 service fee. So, if I buy $250 at their "current rate", the difference is $10....just like a $10 service fee. LOL. Thanks for the heads up!

It is more like a $15 service fee.

$250/1.6584 = €150.74

$250/1.5588 = €160.37

 

€160.37 - €150.74 = €9.63

 

€9.63 = $15.01

 

Your bank will most likely sell only round amounts and not provide coins.

 

Or did you mean that you are buying €250? That would bring a $25 fee.

 

$1.6584/€ X €250 = $414.60

$1.5588/€ X €250 = $389.70

$414.60 - $389.70 = $24.90

 

$24.90 is a little over 6%, in line with most US banks.

[kidoctr]

Ahhh..you're right - that's 10 Euros, not $10 USD. I'll bring at least some Euros with us (based on your calculations, probably buy about 160 Euros) and probably end up getting the rest via ATM. I really wanted to avoid having to do that but....what can you do? :(

[NAS-KARR]

Whenever I go over, I leave home with about 3-400 E's in my pockets.

CIAO,:D

[cberge]

Whenever I go over, I leave home with about 3-400 E's in my pockets.

 

CIAO,:D

I see you back posting..I assume you have done your cruise..welcome back.HOW did YOU do??? Hope you had a blast!!!