Going to Italy. Buy Euros in AU or Wait

I'm travelling to Italy from 18/09 to 06/10. Price of euro pretty expensive in AU at the moment. Am I better off changing money at a bank in Italy, or will I get the best rates here. I live in Brisbane. I don't have 28* cc, however I do have citibank plus account.

Comments

  • +3

    You'd get the best rate using your Citibank plus debit card in an ATM at the airport you arrive at. Aim for a local bank ATM or Citibank ATM, not the Travelex/International Exchange machines that try and charge ridiculous fees.
    Good write-up under the International ATM section: https://whirlpool.net.au/wiki/citibank_plus_transaction_acco…

  • +4

    Nobody knows what is going to happen with the exchange rate in two-three weeks.

    Therefore, it is up to you.

    However, withdrawing money from a citibank plus account via an ATM overseas will always give you a better exchange rate than changing money at a local bank.

  • +3

    If we knew the answer to this question, then we wouldn't need to be using OzBargains.

  • +1

    the euro is going to drop by 28% - buy now.

    or it might rise. or stay the same. I don't know. no one knows.

    if your going to hire a car and your going to leave Italy then buy your fuel outside of italy as italy imposes a huge fuel tax. fuel is excessive in comparison to the res of europe.

  • Exchange rate will go up and down daily. Nothing you can do about that, and mostly unpredictable. A$ is quite low at the moment.
    Best way I believe is to pay with 28 degrees, but many places in Italy will not accept credit cards especially for small purchases.
    I am in Brisbane too and have some euros left from my last trip. I am happy to sell them to you and give you a better deal that the best exchange you can find in Brisbane at the time (for cash notes that is). PM me is you are interested.

  • Thanks all. I didn't mean to sound like I was asking what the future holds for the AUD or the Euro. I meant to ask if all things equal, would I likely get a better rate in Australia or in Italy?

    I'll try ATM withdraw from Italy.

    Do I select "credit" option when I withdraw from ATM?

    • +2

      If using Citibank plus card, yes select credit to withdraw. Don't withdraw from 28degrees card… it's expensive (cash advance rate).

  • Can I assume 0% currency conversion fee with Citibank Plus when I'm travelling? I'm using this site for currency exchange calculation http://usa.visa.com/personal/card-benefits/travel/exchange-r…

    Ignore fees charged by foreign atm for the moment.

  • Any ideas?

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