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Banking & Exchange Rates

ATMs

There are ATMs (known as bancomats) from various Italian banks located throughout Florence and Italy, including one on campus.  In addition, there are ATMs practically everywhere in Europe, and most students find this to be the easiest way to get cash.  However, before you leave, speak to your bank about (1) the high fees they may charge for overseas use and (2) not flagging your account as fraudulent due to the overseas use.

Tips

  • To counter large transaction fees some students take out large amounts of cash at one time. If you choose to do that be careful with your cash (watch out for pickpockets)!
  • Sometimes by the end of the week the Bancomat on campus runs out of money. Get your money early in the week, especially if you know you will be traveling on the weekend.

Credit Card

Western & Northern Europe: Used in most places.

Eastern & Southern Europe: Many places do not accept credit cards. Those that do more widely accept MasterCard and Visa than AMEX.

  • Some students come with them as backup for their cash and credit cards.
  • If you lose them or if they get stolen, report it to your bank immediately. 

 Traveler's Checks

  • Some students come with them as backup for their cash and credit cards.
  • Do not rely on them as they are not always accepted.
  • If you lose them or if they get stolen you can put in a claim for your money.

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Exchange Rate

as of February 2014

$1.37 = Euro €1

Exchange rates change daily, so for the most accurate information look at: http://www.xe.com.


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