Foreign currency exchange tips

Foreign currency exchange tips

While visiting Italy you will need to buy foreign currency at some point of your vacation. Foreign currency, especially smaller amounts can be an expensive activity.

So, here are some advices for getting euros and spending money in Italy.

  1. Leave the traveler’s checks at home. As a rule they’re waste of time and money as you will stay in long lines at slow banks and pay different fees to get them and to cash them. ATMs are much better choice.
  2. Avoid or minimize cash exchange. You should know that you will lose money each time you change it. On average, at a bank you lose 8 percent when you change dollars to euros or another foreign currency. When you use currency exchange booths at the airport, you lose around 15 percent. If you must change cash in Europe, the postal banks inside post offices usually have the best rate.
  3. Figure out currency conversions. Local currencies are all logical. Examine the coins in your pocket soon after you arrive, and in two minutes you’ll be comfortable with the nickels, dimes, and quarters of each new currency. You don’t need to constantly consult a currency converter. While you can do real-time conversion with a Smartphone app. You just need to know the rough exchange rates.
  4. Assume you’ll be shortchanged. In banks, restaurants, at ticket booths, everywhere — expect to be shortchanged if you don’t do your own figuring. Foreign currency exchange tipsSome people who spend their lives sitting in booths for eight hours a day taking money from strangers have no problem stealing from clueless tourists who don’t know the local currency.
  5. Get back to your national currency at the end of your trip. If you have foreign cash left at the end of your trip, change it into your country’s currency at the European airport or simply spend it at the airport before you fly home.

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