The Budget-Friendly Tip For Withdrawing Cash In Italy Tourists Need To Know

Strolling through ancient ruins, sipping espresso in quaint piazzas, and indulging in pasta that would make Nonna proud — nothing says "la dolce vita" like a sun-soaked vacation to Italy. However, whether you're dreaming of finding the best gelato in Italy or looking for ways to hit up some of the best underrated destinations throughout the country, the reality is that you're going to need at least a couple of Euros in hand to make all of those "wants" come true.

But here's the thing ... trying to get your hands on cash when you're in a foreign country can be a hassle — especially if you're not sure how currency exchange rates, international ATM fees, or dynamic currency conversion even works. After all, one wrong move at the airport currency exchange desk or at a sketchy ATM in a tourist hotspot, and you're sure to be losing out on more than just a few coins for your next cappuccino.

So, what's the secret to making sure you're not left with empty pockets? It all boils down to a simple word: "Bancomat." Marked with a blue sign and generally located outside of a bank, these ATMs are typically a more budget-friendly way to withdraw money and not get fleeced by the USD to EUR exchange rate you'll see at those tempting tourist-trap exchange kiosks.

When it comes to withdrawing cash from a Bancomat, the process is fairly straightforward. Once you've found the ATM you want to use, simply insert your card into the slot, choose your preferred language, and then follow the instructions on the screen. The only difference you might run into that wouldn't normally happen back home is that the ATM might prompt you about whether you'd like to accept or deny the conversion, which is called a dynamic currency conversion. As a pro tip, you're always going to want to hit that "deny conversion rate" button. Don't worry, though, this doesn't mean that you won't get your money. It simply means that you'd rather let your bank back in the U.S. take care of the conversion for you, which will usually lead to a better rate.

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Another thing worth researching before you jet off are any potential fees that your local bank might charge when you withdraw money abroad. Also known as foreign transaction fees, these generally vary between 1% and 3% and can quickly add up. However, there are ways to avoid breaking the bank with every withdrawal. If your bank charges a flat fee, you can minimize this expense by simply taking out larger amounts less frequently, rather than making multiple small withdrawals throughout your trip. Most Bancomats typically have a per-transaction limit of 250 euros — approximately $270 at the time of writing — which will give you the freedom to balance how much to withdraw at your own pace.

While using Bancomats wisely can definitely save you money while traveling through Italy, there are several other strategies you can use that'll help stretch your euros even further. For starters, one of the most important tips to keep in mind when paying for your food, souvenirs, and even accommodation abroad is to always pay in the local currency when prompted by the payment terminal. Although seemingly insignificant in the moment, this simple choice can actually help save you up to 6% in added fees (per CNN) — a big difference when shelling out large sums.

Another money-saving hack to consider is applying for a travel-friendly credit card that offers both no foreign transaction fees and good exchange rates no matter where you go — basically the unicorn of credit cards for travelers everywhere. Ideally, you'll want to opt for a Visa or Mastercard — two of the most widely-accepted cards throughout Europe and the rest of the word — as well as an option with little-to-no annual fees that won't end up burning a hole through your pocket in the long run. What's the benefit of going through the hassle of applying for a whole new card? Well, in most cases, these cards tend to come with their own set of perks: from travel insurance to rental car coverage, as well as access to airport lounges at select destinations, bonus points on travel purchases, and even free checked bags with certain airlines.