8/13/2023 0 Comments Low rate card machines![]() ![]() Euronet will often exchange your currency at an even weaker rate. Many Italian ATMs at banks will exchange your currency at an exchange rate around 1% weaker than the real mid-market rate. Instead, they may do the math at a rate of 1% or 3% higher than the market rate. The local provider - who is taking your pounds, for example, and giving you back Euros - will rarely use this rate. using your debit card linked to your British (£) bank).Īt any given time, there is a so-called “ mid-market exchange rate” - this is the real exchange rate that you can see on Google, xe.com, or here on Monito. The exchange rate margin is a hidden fee that applies when travellers spend with non-local currency (i.e. While these ATMs are a better option for getting euros in cash than a bureaux de change at an airport, Euronet still remains near the bottom of the totem pole of recommendations by Monito experts.Ģ - Currency Conversion Fee, or ‘Exchange Rate Margin’ They also lure their users into hidden exchange rate margin costs, which we will discuss how to avoid later in this article. While convenient, these ATMs are notorious for charging higher usage fees than banks. To find ATMs in Rome, ATMs in Florence, and others across the country, have a look at these locators:Įuronet is a widespread ATM network throughout Europe that often places its ATMs in city centres and near touristic areas. For example, Unicredit is an international bank, active in 13 countries, that may offer privileged ATM access to non-Italian Unicredit customers. Check if your home bank is connected to a bank network in Italy. Other Italian banks will charge cash withdrawal fees to tourists and other users outside their ATM network. ![]()
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