FCO ATM's

[TMaine]

Are the ATM's at FCO still in place and functioning?   It has been a few years (pre covid) so wanted to double check that detail.  Thanks! 

[CruiserBruce]

I am sure they are. It would be better if you could get Euros somewhere else...in town, at an actual bank ATM. Better rates.

[euro cruiser]

Yes, there are.  Be sure to use a bank ATM, there are some in the hallway where you exit from baggage/customs in Terminal 3.

[cruisemom42]

Many airports have replaced bank ATMs in part with ATMs operated by Travelex, the same people who run the foreign currency kiosks at airports.

 

Travelex ATMs offer a worse rate of exchange, so its recommended to avoid using them and use an ATM that is branded with a local (or European) bank to ensure the better exchange rate and less likelihood of extra fees tacked on.

 

So, if you see these, avoid them unless you're desperate:

 

 

[Hlitner]

Perhaps this is a good place to again mention the trend (worldwide) of "Dynamic Currency Conversion."of DCC.  This can apply to ATMs and credit cards (MC and Visa).  I will start by saying it is simply a legalized scam or con! 

 

Often, when you use an ATM/Debit card (including at the best bank ATMs) you will do the usual process, enter your PIN, and indicate that you want cash and how much (in the local currency).  But than you may get a screen that offers you a specific conversion rate.  That screen will be designed to enourage you to immediately "Accept" the rate!  Somewhere on the screen there will be a place where you can "Decline" or say "No.!"   You should always decline or say no.  At that point the transaction will normally proceed like a normal transaction, you will get your cash, and your card.  The internatonal ATM system (usually run by Visa International) will later convert your transaction to your own currency (i.e. dollars) at the best rates (up to 10% better than the rate you were offered earlier on the screen) and add a 1% banking fee (hidden in the rate).  Depending on your own bank's ATM rules, you may or may not be charged another withdrawal fee by your own back.  We only get ATM cards that are "fee free" but that is another story.

 

DCC can also happen when you use a credit card at any merchant or restaurant.  If they hand you a device that shows a currency conversion rate and asks if you want the charge done in your own currency, say NO!  All these offered "conversion deals" are bad...usually taking 5-10% of your money.

 

I always end this lecture by telling folks to simply Google "Dynamic Currency Conversion" and read some of the articles (Wikipedia has a pretty good explanation).

 

Hank

 

Hank

[TMaine]

Thanks for the tips!

[Girr]

If you don't need Euros immediately use the Italian post offices (Poste Italiane) ATMs in town.  There's no fee and the exchange rate is excellent.  The downside is you're limited to 200 Euros at a time, but I've always been able to make two withdrawals at a visit.  

[CruiserBruce]

1 hour ago, Girr said:

If you don't need Euros immediately use the Italian post offices (Poste Italiane) ATMs in town.  There's no fee and the exchange rate is excellent.  The downside is you're limited to 200 Euros at a time, but I've always been able to make two withdrawals at a visit.  

Most ATMs in Europe don't charge a fee. It's your US bank that might.

[Girr]

35 minutes ago, CruiserBruce said:

Most ATMs in Europe don't charge a fee. It's your US bank that might.

Sorry for not being clearer - my USA banks don't charge a fee for using the post office ATMs.  

Also, (slightly off subject) banks in Spain do charge fees.