Exchanging Euro's in Rome (Small Denominations)

[oshawa]

Unfortunately, my bank in Canada was only able to provide me with 2 E500 notes. I did have a few Euro's on hand to manage for a day or so but will need to exchange the larger notes for smaller denominations. Where could I exchange these? Would |I have to go to a bank or is there a currency exchange at the airport that would accommodate me?

 

Need your help!

[cruisemom42]

I would go to a bank, especially if you don't need to exchange them the moment you land. You'll find plenty of banks in Rome.

 

Another good reason to just use an ATM to get euro (IMHO).

[Keith1010]

If you are staying at a hotel before the cruise, the ask at the hotel. If not, a bank.

 

Keith

[HeinBloed]

Unfortunately, my bank in Canada was only able to provide me with 2 E500 notes. I did have a few Euro's on hand to manage for a day or so but will need to exchange the larger notes for smaller denominations. Where could I exchange these? Would |I have to go to a bank or is there a currency exchange at the airport that would accommodate me?

 

Need your help!

 

Many outlets do not accept 200 EUR and 500 EUR bills.

 

Some banks refuse to change it for non-customers.

 

Due to national law

 

Banca di Italia (Italian Central State Bank)

 

must change if you present the bills.

 

Here you find their address:

 

http://www.bancaditalia.it/bancaditalia/organizzazione/filiali/elenco/Lazio

 

You can try to pay with the 500 EUR-bills but as said before:

 

many point of sales do not accept them.

 

Regards

HeinBloed

[riffatsea]

IF you still have time before you leave I'd go back to YOUR bank because they may have gotten some smaller bills since you last visited. 500e notes are really quite useless! I don't even like to take 100e notes when I get a few ahead of time from my bank here in the USA.

[Keith1010]

Why don't you call the bank and ask to speak with the bank manager to see if they can help you with this.

 

Keith

[ab0si]

I would not take the 500 euro bills with me. They are a PITA. That said ...

 

If you are arriving by air, there is a full service bank in terminal 3 -- that's the terminal for long haul flights.

[hkto]

Unfortunately, my bank in Canada was only able to provide me with 2 E500 notes. I did have a few Euro's on hand to manage for a day or so but will need to exchange the larger notes for smaller denominations. Where could I exchange these? Would |I have to go to a bank or is there a currency exchange at the airport that would accommodate me?

 

Need your help!

 

Do not accept 500 or 200 notes; many place in Europe refuse it; even 100 are not the best unless you are making a big purchase. Go to another bank; there is more than one bank even in Oshawa

[hubofhockey]

I was glad that my bank did give me fives. I asked for 20 of them. I wish I had asked for more. They wouldn't give me one or two euro coins and I tried to conserve them during the cruise as I accumulated them. 100s are okay if you are doing private excursions. Next time around, I'll get enough to hold us over for a couple of days (in case of unexpected problems) but hit an ATM after we check in at the hotel or have them hold our bags.

[cruzgryphon]

Hi,

Agree with the other posters - especially if you're dealing with one of the big six - they can order Euros in smaller denominations - might take about a week (depending on where the branch is located).

 

One other possibility that I recently found out about. There is a group of banks (some banks in US, Europe and one Canadian bank) that got together and formed "Global ATM Alliance" - you can google it for more information. If you use the Canadian bank that's in the alliance, you have access to certain European Bank ATMs with lower fees in Europe.

 

Another possibility would be CAA (if you're a member) or there are a couple of Foreign Exchange stores in downtown To - along Yonge St. I think.

 

Cheers,

CG

[Hlitner]

This is just one more reason why we often suggest here that folks simply wait until they get to Europe to get Euros. ATMs are everywhere and will almost always give you the best rates. If your bank charges a fee for using ATMS (mine charges no fees) then it makes sense to make fewer withdrawals and get larger amounts. Most systems will limit your daily ATM withdrawals to 200-300 Euros. You should have a 4 digit PIN and know the PIN in numbers (not letters) since most European ATM keyboards do not have letters. You should also notify your issuing bank (before you leave on your trip) of your itinerary to avoid any possible security issues.

 

Hank

[Susan-M]

Most systems will limit your daily ATM withdrawals to 200-300 Euros.

 

We discovered that the limit per transaction is often that amount, but if we needed more, we could simply do another transaction at the same ATM. The daily limit is the one set by our bank ... i.e. if it's $1000 here, it's the equivalent amount in other currencies. The only negative is the extra ATM charge for doing a second transaction.

 

If you have a low daily limit on your card, it could be too restrictive for your needs on vacation, so it's a good idea to either have your limit increased if possible, or have cards from two accounts.

[Keith1010]

This is just one more reason why we often suggest here that folks simply wait until they get to Europe to get Euros. ATMs are everywhere and will almost always give you the best rates. If your bank charges a fee for using ATMS (mine charges no fees) then it makes sense to make fewer withdrawals and get larger amounts. Most systems will limit your daily ATM withdrawals to 200-300 Euros. You should have a 4 digit PIN and know the PIN in numbers (not letters) since most European ATM keyboards do not have letters. You should also notify your issuing bank (before you leave on your trip) of your itinerary to avoid any possible security issues.

 

Hank

 

I agree. If someone would have asked I would say use the ATM. It works like a charm for us.

 

Keith

[riffatsea]

Definitely, ask your bank to raise your ATM limit.

I have had no trouble getting 500e at a time. There is a place on the ATMs(bancomats in Italy) where you can put in "other amount" and not just use the quick amounts already written.

[KirkNC]

I agree about the ATM's, they work the best but another option that may work is to exchange them on the ship. When we withdraw euros from the ATM's, sometimes they give us 100 euro notes which we exchanged on the ship with no problem.

 

Kirk

[Ferndale Girl]

This question is a little different and you'll probably think I'm REALLY stupid but.....can you only use an ATM card for a checking or savings account or can you use them with a credit card? I very seldom use my ATM card and have never been to Europe to need euros. I'm just very afraid that we'll get over there and not be able to get any cash. I guess I'll have to check with my bank to see how it works - I assume I can get one for the savings account and won't need to transfer money to the checking.

[riffatsea]

The ATM/debit card takes money from your primary account which in Europe is usually your checking account. It is much safer to move money to your checking account to use to withdraw in euros than to have it access your SAVINGS!!

You will not be given a choice at the ATM for which account money should come out of like here in the USA.

I also don't use my ATM/debit card at home but for travel it is the thing to have.

You do NOT want to use a credit card at an ATM because that will come out as if you have asked for a cash advance loan and the charges will be ENORMOUS(20%+) In order to use a credit card you'd also have to have a pin no.

Please inform all your banks(credit cards and ATM/debit cards) that you are traveling.

 

[Ferndale Girl]

The ATM/debit card takes money from your primary account which in Europe is usually your checking account. It is much safer to move money to your checking account to use to withdraw in euros than to have it access your SAVINGS!!

You will not be given a choice at the ATM for which account money should come out of like here in the USA.

I also don't use my ATM/debit card at home but for travel it is the thing to have.

You do NOT want to use a credit card at an ATM because that will come out as if you have asked for a cash advance loan and the charges will be ENORMOUS(20%+) In order to use a credit card you'd also have to have a pin no.

Please inform all your banks(credit cards and ATM/debit cards) that you are traveling.

 

 

Thank you SO MUCH for the info. We don't go until next May but this money thing has given me nightmares. I certainly wouldn't want a cash advance with a big fee. I'll just do like you said and transfer money to my checking before we go and will contact the banks letting them know we will be over there. I just hope and pray that the ATM card works!!! We'll be on five independent tours and four of them have to be paid in euros (I don't blame them.)

[maryann ns]

I'm totally in agreement with riffatsea. Put money into a checking account with a debit card. Fly to Europe, go to a bank machine at the airport and get cash. It is very simple. I have been to Europe many times and this is by far the simplest way to handle money.

[D4]

... I just hope and pray that the ATM card works!!!...

 

It's also a good practice to have ATM cards for different accounts. We set up a 2nd checking account so we'd have another ATM card with a different bank to use when we travel in Europe. You can run into a situation where cards from one bank just won't work.

 

That was helpful on our first trip because an ATM machine ate my card at our 2nd port in Greece. (I had taken precautions and written down each card number along with the international numbers to call in case of loss/theft.)

 

When we were there in May, I decided at the FCO airport while waiting for our flight home to withdraw more Euros to have for the next trip (since it was at a pretty good exchange rate.) One set of our ATM cards would not work in the airport, but the ones from the other bank did. I had no idea why because we'd mainly used the first set in Rome. (We hadn't withdrawn from an ATM the previous day, so I knew we weren't over our daily limit.)

[chipmaster]

ATMs are great and I agree once you land they are everywhere, but I needed something like 5000+ euros, with a stretch where I needed 1000/port for 4 ports straight. I don't care how elegant and common they are with best fees but after doing those crazy private tours ( crazy only in the sense of how much we saw ) I was very happy I sucked my local bank exchange fee and less then best exchange rate. I did manage to hit up ATMs in a few ports but again it was only because I had time in port and not because I had to. Sometimes as nice as ATMs sound it isn't the soundest strategy if one has a busy port schedule.

 

 

 

This is just one more reason why we often suggest here that folks simply wait until they get to Europe to get Euros. ATMs are everywhere and will almost always give you the best rates. If your bank charges a fee for using ATMS (mine charges no fees) then it makes sense to make fewer withdrawals and get larger amounts. Most systems will limit your daily ATM withdrawals to 200-300 Euros. You should have a 4 digit PIN and know the PIN in numbers (not letters) since most European ATM keyboards do not have letters. You should also notify your issuing bank (before you leave on your trip) of your itinerary to avoid any possible security issues.

 

Hank

[cruisemom42]

ATMs are great and I agree once you land they are everywhere, but I needed something like 5000+ euros, with a stretch where I needed 1000/port for 4 ports straight. I don't care how elegant and common they are with best fees but after doing those crazy private tours ( crazy only in the sense of how much we saw ) I was very happy I sucked my local bank exchange fee and less then best exchange rate. I did manage to hit up ATMs in a few ports but again it was only because I had time in port and not because I had to. Sometimes as nice as ATMs sound it isn't the soundest strategy if one has a busy port schedule.

 

I can understand the "need lots of euro at once" factor. If you are the family bank, you probably do want to start out with some euro.

 

What I have a hard time getting behind is the "I can't take the time to find an ATM" rationale. No one has port days more packed than I do. And yet I always manage to find an ATM. Most of the time I don't have to walk more than 5 steps out of my way, even. I don't think I've ever spent more than 5-10 minutes looking for a machine (with guidance from a local if needs be).

 

Saying there isn't time is sorta like saying you can't find the time in your busy day to go to the bathroom....:eek:

[KirkNC]

Thank you SO MUCH for the info. We don't go until next May but this money thing has given me nightmares. I certainly wouldn't want a cash advance with a big fee. I'll just do like you said and transfer money to my checking before we go and will contact the banks letting them know we will be over there. I just hope and pray that the ATM card works!!! We'll be on five independent tours and four of them have to be paid in euros (I don't blame them.)

 

I work at a bank so I can give you some insight. Most banks setup ATM cards to NOT work internationally. This is to minimize fraud. You should contact your bank and instruct them to allow it to do international transactions. The second item to look at is your daily and weekly limits. Banks like to set these lower (again a fraud issue) but they should honor your request to raise them (to a reasonable level). Mine are set at $500/day and $2,500 per week. As others have said, we also take a second card tied to an account at my wife's bank with the same setup I outlined above as a backup. Your Armageddon backup can be your credit card cash advance (but you will get hammered on fees).

 

If for any reason your bank will not do the above, find another bank, you are the customer ;).

 

Kirk

[Ferndale Girl]

Thank you to all of you.....all your advice really helped. Now I should be able to sleep at night!!!

[iancal]

We NEVER buy or sell currency at the bank...their rates are not competitive. They never seem to have the right denominations and sometimes it takes time for them to order it in. We always use of foreign exchange store. Last week we purchased $4000. USD. We saved just under $120. by walking across the street and buying there instead of at the bank. When we travel in Europe, we take 1000E or so with us. For the rest we use ATM. Check in your area, youi just may have one nearby.