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Changeing Money in Florence

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Chicago, Illinois
posts: 2
Changeing Money in Florence

Please list best places to change money. The Commercial money changers near the Ponte Vecchio charge particularly high Commissions - up to 19.9-% unless you make a big stink about it.

NOT Clearly marked ! Advise of best places please !

Melbourne, Australia
posts: 1,151
reviews: 8
21. Re: Changeing Money in Florence

I will look into it. Like anything, there is a risk in that you lock in exchange rate (is that right?).

Friends of mine have recommended the Travelex cash passport, but obviously Citibank offers a better exchange rate. However, if the exchange rate offered is close to the wholesale rate, they must be making their profits via other means (I read somewhere that if you overdraw on the card, you are charged interest immediately - not that I plan to overspend anyway...).

Sydney, Australia
posts: 19,463
reviews: 52
22. Re: Changeing Money in Florence

zomp, I keep data to check on costs from time to time. This using the 28 degrees overloaded with cash and then the cash withdrawn OS

The last withdrawal of $500usd on 5/12/12 when the interbank rate was .95425 should have cost me $477.13 aud but instead cost me $478.97 which is hugely closer than your amounts above, about a 0.38% charge compared with about 4.6% for the PO card today.

Perth, Australia
Destination Expert
for Zadar
posts: 844
reviews: 2
23. Re: Changeing Money in Florence

I just used the Citibank account as a normal bank account that I would have at home. Had all my money in there and used the card as a normal debit card to withdraw money. We also used it as a credit card to pay for the hire car and a few things in Dubai. The money for the credit just came out of our account. I am not sure how they make their profit but yes, make sure you don't over spend.

We also took our ING debit card with us as a back up.

Sydney, Australia
Destination Expert
for Train Travel
posts: 59,466
reviews: 11
24. Re: Changeing Money in Florence

The Citibank card is a debit card: you cannot withdraw more money than is in your account. I think this account offers fee-free overseas withdrawals as a means of attracting customers.

If you withdraw cash against a 28 Degree card, that is a cash advance and (unless the account is in credit) it immediately attracts interest at over 20%. The same applies if you do not pay off any debit balance in full by the due date.

Melbourne, Australia
posts: 1,151
reviews: 8
25. Re: Changeing Money in Florence

I have looked into this but I may not pass the credit check as I am a PhD student (though am debt free).

26. Re: Changeing Money in Florence

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