best way to change dollars to Euro in Italy

I have followed several threads on this subject, but I still can't
decide the best way to go. I thought I would use ATM machines, until
I learned yesterday that my bank's exchange rate (Amsouth/Regions in
southern US) is about ten percent higher than the regular rate.

Then I decided I would use my Capital One card, which does not have a
transaction fee, to get cash advances. I thought if I had a credit
balance, maybe I would not be charged interest on the cash advance.
Now I've read that they charge 3% on cash advances.

I've read not to change dollars (actual cash) because of the bad
rates, and not to take travelers checks for the same reason.

Do some US banks not charge these outrageous amounts to covert money
where I might could open an account? Any other ideas? Thanks,

Edward

Edward ha scritto:

> I've read not to change dollars (actual cash) because of the bad
> rates, and not to take travelers checks for the same reason.

Normally I use ATMs to change from EURO to other currencies, when I
travel abroad, but my bank has exchange rates not to high, luckily.
Here in Italy also Post Offices also foreign currencies, and normally
they have exchange rates better than banks.
Maybe they can be a solution for you...
If you want, I will go in the US next August, and I need few hundred
dollar cash...
If you come in Italy before, and near me (Modena, near Ferrari factory:
north), we can do the business.... :-).

Ciao, Piero.

On Jun 22, 12:02 pm, Edward <ewm...@> wrote:
> I have followed several threads on this subject, but I still can't
> decide the best way to go. I thought I would use ATM machines, until
> I learned yesterday that my bank's exchange rate (Amsouth/Regions in
> southern US) is about ten percent higher than the regular rate.


That's outrageous. Tell them you are changing banks, and do so right
away. Check out a local S&L.


>
> Then I decided I would use my Capital One card, which does not have a
> transaction fee, to get cash advances. I thought if I had a credit
> balance, maybe I would not be charged interest on the cash advance.
> Now I've read that they charge 3% on cash advances.
>

Even with a credit balance? Again make sure that's the case. In my
experience I don't think so.


> I've read not to change dollars (actual cash) because of the bad
> rates, and not to take travelers checks for the same reason.
>
> Do some US banks not charge these outrageous amounts to covert money
> where I might could open an account? Any other ideas? Thanks,
>
> Edward


Check out some online banks, your local S&L, etc.

Edward wrote:
> I have followed several threads on this subject, but I still can't
> decide the best way to go. I thought I would use ATM machines, until
> I learned yesterday that my bank's exchange rate (Amsouth/Regions in
> southern US) is about ten percent higher than the regular rate.
>
> Then I decided I would use my Capital One card, which does not have a
> transaction fee, to get cash advances. I thought if I had a credit
> balance, maybe I would not be charged interest on the cash advance.
> Now I've read that they charge 3% on cash advances.
>
> I've read not to change dollars (actual cash) because of the bad
> rates, and not to take travelers checks for the same reason.
>
> Do some US banks not charge these outrageous amounts to covert money
> where I might could open an account? Any other ideas? Thanks,
>
> Edward

you will get the best exchange rate in Post Offices
their rate is fixed and so are commissions.-
Banks are free to make an exchange rate for Banknotes
and to decide their charges
another advantage
Bank are open int he morning and then from 15.00 to 16.00 in the
afternoon.. ( depending on the bank and on the town.. )
post offices in major towns are open till 18.00 at least.
Normally for cash adcance Credit cards charge 4%
and ATM just a token commission..
pls check with yr bank again

"PeterL" <po.ning@> wrote in message
news:1182573642.259543.308590@j4g2000prf. ...
> On Jun 22, 12:02 pm, Edward <ewm...@> wrote:
>> I have followed several threads on this subject, but I still can't
>> decide the best way to go. I thought I would use ATM machines, until
>> I learned yesterday that my bank's exchange rate (Amsouth/Regions in
>> southern US) is about ten percent higher than the regular rate.
>
>
> That's outrageous. Tell them you are changing banks, and do so right
> away. Check out a local S&L.
>

Or a credit union. On a recent trip to Britain, my credit union charged only
1% conversion fee on ATM withdrawals, the same on credit card charges.

Marianne

B Vaughan wrote:
> On Sat, 23 Jun 2007 10:14:43 GMT, "tile" <supertile@libero.it> wrote:
>
>> you will get the best exchange rate in Post Offices
>> their rate is fixed and so are commissions.-
>
> However, it's very unlikely that the rate will be better than a
> withdrawal from an ATM, provided you have a reasonable bank rate.

edward was asking.. bst way to change dollars..
he was stating that his bank charges him 10% for ATM withdrawals

On Jun 22, 9:02 pm, Edward <ewm...@> wrote:
> I have followed several threads on this subject, but I still can't
> decide the best way to go.

No problem.
Just send all the money to the following bank account: 14000032154 of
Monte dei Paschi Bank, and I'll mail you back the Euros directly at
home with a super convenient exchange rate!

:)

ciao, U.