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MBA Programs > Traveling & Living Abroad - Degree Program > Money & Banking - Degree Program |
Money & Banking |
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ATMs are widely available and easy to use. ATM cards from bank accounts in the U.S. and other countries can be used to obtain cash in Euros. Generally, the exchange rate is similar to the posted stock exchange rate. Similarly to using an ATM that is not from your bank, a small fee will be charged. ATMs are by far the easiest method for obtaining cash abroad. Before leaving home, make sure to check that the ATM card and pin number will work in Europe. Generally, the card will be accepted if it carries the CIRRUS or PLUS logo on the back. Know the numerical equivalent for the PIN as many international ATMs do not have letters on the key pads. Also, many banks now require their customers to complete authorization requests in order to use their ATM card overseas. This is a measure to help combat fraud. Make sure to check with your bank before leaving to ensure that you can obtain funds in Europe and/or the US.
Most banks now offer on-line banking. This can be particularly useful for students. On-line banking can provide relatively current transactions, bill-paying services and balance transfers. Checking particular transactions can be helpful so that you know exactly what you are spending with the exchange rate and view any fees that have been charged to your account. You should also find a non-800 telephone number for your bank because 800 numbers to the US from Italy usually do not work.
Credit cards are good for emergencies or major travel expenses. Many places in Italy accept credit cards; however, Italians do not charge minor expenses like people do in the U.S. Even if credit cards are accepted, they may not be for small purchases. Cash is the most dependable method for payment when abroad. |
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