[bmwturbopower]

I will be going to Italy here soon and will be going all over Europe. This is the first time I'm going to heading out of the country. My question is, What is the best way to handle money? Should I notify my CC companies that I will be going over there? And did you carry cash or travelers checks? Thanks for any help.

[boymonkey]

For how long?

[bmwturbopower]

Originally Posted by boymonkey

For how long?

I'll be there for 9 days

[TurboFan]

You can usually change money at the airport, but you may pay a stiff penalty. If you just need euros, do it in advance, and know the market rate. Negotiate with the bank, and see if there is a break point for fees. Some will waive fees if you change a certain amount, like $500. I think AAA is free too if you change over $500. Shop around, see who has the best rates, but check the WSJ to see where the market is.

I carry cash in Africa when I go, but that's me. I keep a stash safe in my room or in a vault and carry maybe the equivalent of $100USD. Tell your credit card companies you are headed abroad, and find out the fees. My MasterCard rapes me, My Amex rapes the merchant. So determine what your transaction fees will be ahead of time. Don't buy something only to find out your MasterCard has a 3% ForEx fee.

Lastly, blend if you can. As a big white guy with blond hair, I don't blend well in Africa, but as long as I don't open my mouth, they don't know I'm American. I get Dutch or German a lot. I've heard the trains and public transit in Europe are a hot place to steal from backpacks, so keep it in front of you. Also, leave the nice jewelry at home. Remember, you are in a foreign country and you are an easy mark. It may seem like a good area based on your experiences at home, but you aren't "in Kansas anymore" and you can't accurately asses your situation like you can at home.

In Europe, if you are traveling extensively, I'd consider travelers checks. Remember to keep a record / receipt stashed somewhere safe along with credit card numbers and customer service lines and a copy of your passport.

[Red Bread]

You don't really need to notify your cc companies. If your contact info with them isn't to your cell phone, you might change that. I used to work in Germany any only got a call once, and I'd been in four or five countries in a just a few days.

More than anything, just get Euros out at an ATM once you get there, preferably not at the airport, where the exchange rate will be a little higher, but in a city center, etc. You won't be able to use your credit card very often, so cash is king. However, when you can use your credit card, do, as the rates are a little better than the rate you'll get on cash.

If you're going to Switzerland, England (not Ireland) or most of the Eastern Bloc, you'll need to deal with other currencies, but if you're staying in the EU, you'll only need Euros, and you won't have to deal with customs or border crossings unless you fly. Enjoy your trip.

[boymonkey]

I usually use a combination of cash and credit card, but mostly cash.

I find the best rate I can get, and exchange the cash here. This helps to save a few bucks.
(US Dollar is more common and easier to exchange. With my Canadian dollars sometimes it's a bit of work to find a bank that will exchange it when I'm in another country. That's another reason why I do the exchange before I go.)

[drift90]

Its a lot easier just to use credit card down there... rather dealing with a shit load of cash in the pocket.. pay for your crap down there.. and pay it off when you get home..
-the taxes and credit charges.. i guess its good for convenant

[EINSER M]

MOST credit card companies will charge you a "conversion" fee that could be obscene if you dont pay attention (call before you leave to see what your cc charges). i use capital one when in the EU only because it is one of the rare companies that does not surcharge every transaction. keep a small stack of cash for day to day expenses and charge the rest! have fun!

[TurboFan]

Watch the ATM. I use a large regional bank, and their ATM card does not work where I go.

[BMW F22]

It's recommended that you notify your CC company. I've heard stories of those that had their cards froze by the company because they thought it was unauthorized usage.

[TurboFan]

Originally Posted by BMW E90

It's recommended that you notify your CC company. I've heard stories of those that had their cards froze by the company because they thought it was unauthorized usage.

yep, happened to me once, and I even called in advance.

[bmwturbopower]

Thanks for all the responses!

[Heinzftw]

When I went to France for 15 days, I came back to find out I had racked up $150 in conversion fees. Hope all goes well Italy!

[Comet]

I'm a frequent flyer (too much for my own good)
As a person who is used to living out of their suitcases for months on end, I usually take a sum that I doubt I'd be able to spend.. I leave it in the little safe in the hotel room.
my CC company knows where I am in case I need to use it.

carry your money in small batches as you always do..
I once lost my wallet in germany with 1500 euro and it was returned to me without a penny missing!!
A lot of places in Europe have a finders fee so if you lose your wallet, notify your hotel to tell the police. Chances are very high that it ends up there..

I've never used Traveler's Checks. I'd assume a lot of places don't accept them.

[Maestro]

Italy is loaded with pick pockets, beware of carrying too much cash and do not use a traditional wallet, one inside your shirt is best. The pick pockets are mostly kids and girls they bump into you in crowed places.

I carry some cash, either exchange it at the airport or the hotel, usually better hotels will exchange it for you or do a cash advance off your CC. I also get cash from ATMs there using both my CC and Debit cards this worked the best, Also the transaction fee the CC charge varies about 2 to 3% of the transaction on cash advances. Most do not charge you a fee for purchase so I tend to use CC as much as I can to make direct purchases. Some CC give you the most favorable exchange rates unlike the exchange service which markup the exchange rate and charge a transaction fee. Do not over exchange because you loose again exchange it back later to dollars.

[.:bHd:.]

I actually just got back from italy. Make sure you convert your dollars to euro over here because it's is wayyy to expensive to do it there. Pick potters weren't that much of a problem to me.. wear a pouch if you're too concerned. Try to do all your transactions in cash and leave the credit card as a last option. If you're gonna be in Florence make sure to go to Sienna. It's only an hour bus ride away. I think it was the most beautiful city from all my trip. Have funn

[doubled24]

If youre in northern italy check out lago di garda or lago como ... Also go to a central bank here and change your $ for euros then i only carry what I need for the day and try to lock the rest up in hostel/hotel.

have fun

[UncleWede]

Definitely notify your CC compnay. Went south for my brother's wedding. Ended up having to pay for my dad's room on my CC becuase they locked it when he tried to use it in the hotel. We called on the other one for him so I didn't have to pay for the wedding dinner

[GreenThree]

Change all pocket money before you go at a bank. (keep in mind that most places will take credit cards. But others wont.) For all other transactions use your credit card. Good exchange rate. And recordable in case something happens.

Italy is amazing. Have fun

[TurboFan]

One more thing - keep your money in your hip pocket, or a zipped cargo pocket. Never carry your wallet in your back pocket. Consider a very low profile moneyclip / card carrier that you can tuck in your hip pocket or a belly band. Your back pocket is so easy to pick.