Even the small shops are fairly expensive. An expensive bank might charge 3% over the current exchange rate. It's not unusual to see people complaining about those small shops charging more then 20% all in.
Bad exchange rate plus the fixed fee adds up.
Seriously? Watch any of the threads started by people that have done exactly what you're suggesting. I just glanced at one large F/X company. There online rate is about 10% worse then the current exchange rate for USD/EUR. The walk up rate at the company's shop would actually be worse.
Yes, seriously. Please read my post: I said small offices. These are the lifeline for expat workers, especially those that send home remittances. These businesses make their money in turnover volume rather than from single transactions. Even here in Geneva, one of the most expensive cities in Europe, the small, family-run businesses clustered around the central railway station provide excellent rates. Likewise, from my own experience, do similar businesses in Budapest.
No one gets the online rate shown on xe.com, a fact acknowledged by the website itself.
I fly into Firenze, Italia.
I have no experiences of Firenze, so perhaps one of the other contributors to this thread can advise you on local practicalities. This might help:
As you may have gathered, you should change just enough cash at the airport as you will need for immediate expenses, such as transport to the city. If you are arriving late at night, you may also need enough to pay for a meal. But ask your hotel for advice on the best place to change currency, or go scouting to find some options during business hours.
Incidentally, why did you decide to travel with cash? Even if you have to pay ATM fees, that is worth the peace of mind for not having to find a secure place to stash your loot every day. The pickpockets on Italian metros are infamous for their skills.
It's not unusual to see people complaining about those small shops charging more then 20% all in.
It's not my experience either ... we've used hole-in-the-wall guys in many places, including here in Elizabeth Street Melbourne. Their rates are good, even for small amounts, and there is no commission ... and much better than airports, and probably ATM bank rates, and travel money cards too.
Don't believe me google something like
exchange rate rip off Florence italy
or just
exchange rate rip off Italy
Exactly. Those places exist everywhere.
As with any purchase, it pays to shop around. Buyer beware. On the other hand, if you can't be bothered to compare your options, and you take the first available offer, then don't complain when you find better prices elsewhere.
It's all a matter of your own priorities. We have yet to hear from the OP what those are.
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