Travel Money
The amount of spending moneyyou’ll need duringstudy abroad in Rome will be depending on your travel plans, eating preferences and other personal expenses. You should expect to spend extra on meals and basic expenses during your first couple of weeks in-country as you settle in and purchase necessities like toiletries and household supplies. Since all student apartments have full kitchens, it’s easy to save money by shopping at the local markets and supermarkets and cooking on your own. A budget of about $10 a day if cooking all of your meals should keep you well-nourished.If you plan to eat out every meal,you might plan to spend between$25 to $30 dollars a dayon food. Rome is easily navigated by foot, and local transportation in Rome is relativelyinexpensive. Depending on how long you’ll be studying here,you may choose tobuy a monthly Metro passes (called a “tessera” or “abbonamento”) for €35, or individual tickets can be purchased for €1.50. Weekly costs for postage, laundry, local phone calls and other miscellaneous expenses can run $30-40 a week. Entertainment (e.g., movies, museums, live music) can add another $30-40 a week. Weekend excursions are likely to be your most expensive cost, especially depending on how far you go and for how many days your travel. If you plan to travel,be sureto budget for accommodations, meals and transportation and other personal expenses while you’re on the road.
Debit & Credit Cards
In Italy, cash is still preferred in most restaurants, cafes and other establishments, although credit and debit cards are becoming more widely used throughout Italy and are an increasinglyconvenient way to pay for things. Visa and Mastercard are widely accepted, although American Express is not. Be sure to report your travel plans to your bank and credit card companies in advance of your travels, as cards are often blocked for security reasons following unusual account activity (e.g., purchases and cash withdrawals made outside the US). Also be sure youunderstandthe fees and daily withdrawal limits of your cards, and make sure that your cards are on the Visa/MasterCard circuit and NOT the Cirrus/Maestro circuit as some ATMs do not accept the latter.
Either exchange some eurosprior to your arrival in Rome or use an ATM at the airport in order to have some cash on you when you arrive. Drawing money directly from ATMs associated with an official bankis normally the best way to ensure a good exchange rate. You will find plenty of banks around the city center with ATMs. If you plan to exchange US dollars upon arrive, note that Currency Exchanges are often not open late or on holidays, and that their exchange rates will likely not be as good. Also, if you exchange dollars for euros, do not accept bills larger than €50 as larger bills as it may be difficult to find a vendor willing to accept them.
Write your credit card numbers and credit card company contact information in a safe place so that you have them in the event your card(s) are stolen. In the event that you need emergency cash, we recommend using Western Union. A Western Union location is a short 5 minute walk from the UWRC.
FAQs
Using a Debit Card on Vacation
Your debit card rarely carries with it any surcharges or merchant fees, and the money comes directly out of your checking account, so there will be no surprise bills waiting for you when you get back home.
Is it worth getting a travel money card? ›
Travel cards offer several advantages that a credit card can't compete with, including the ability to load multiple foreign currencies, secure PIN protection, locked-in exchange rates, no foreign transaction fees, online account management, and the option for emergency assistance.
What are the cons of prepaid travel cards? ›
There are also some drawbacks for you to consider, like: Fees and charges - Prepaid cards can come with lots of fees which vary from card to card, so be sure to read the terms and conditions carefully before you choose. Some cards even charge a monthly fee, and fees for every transaction, which can soon mount up.
Can I use a travel money card as a debit card? ›
Think of a travel money card as a debit card that uses local currency. Before you use a travel money card, you'll preload a set amount of a specific international currency onto the card at the day's exchange rate.
Should you carry cash when traveling? ›
While it might be a good idea to carry some cash, carrying large amounts of cash is never a good idea. Pros: - You can make purchases even when the vendor does not accept debit or credit cards. - Sometimes you can haggle the price for a better deal.
Do you get charged for using a debit card abroad? ›
Visa exchange rate
This might not be the same day when the transaction took place. A 2.99% fee charged by us for using your debit card abroad when making purchases, withdrawing cash or for refunds.
What is the best card to use while Travelling? ›
Best Travel Rewards Credit Cards
- Chase Sapphire Preferred® Card: Best Travel Credit Card for Beginners.
- Capital One Venture Rewards Credit Card: Best Flat-Rate Rewards Credit Card for Travel.
- Wells Fargo Autograph Journey℠ Card: Best Travel Earnings Without a Portal.
No fee for moving money between wallets. Foreign exchange rate applies, varies each day. No fee for paying with your card, whether at retailers or online. Some retailers may charge their own fee.
Which multi-currency card is best? ›
6 best multi-currency cards in Singapore
| Available currencies |
|---|
| Revolut card⁵ | 30+ supported for holding and exchange Spend globally |
| Instarem Amaze card⁷ | Top ups only in SGD, 9 other for holding and exchange if converted from SGD Spend globally |
| DBS multi-currency card⁸ | 13 supported for holding and exchange Spend globally |
3 more rowsThe 10 best prepaid debit cards you can get without a credit score
- Best overall prepaid debit card: Greenlight Prepaid Mastercard.
- Best for overdraft protection: Netspend Prepaid Card.
- Best for receiving federal benefits: Direct Express Prepaid Debit Mastercard.
- Best for no fees: Cash App Card.
Disadvantages. Pre-paid debit cards do not help you build credit. Many pre-paid debit cards charge fees before you even start using them. There is usually a monthly fee and fees on common transactions such as ATM withdrawals, card replacement, direct deposit, and reloading the card.
Why are prepaid cards not accepted? ›
Prepaid cards can be declined because you don't have sufficient funds in your account, the card hasn't been activated, the merchant doesn't accept the network's cards, or you have exceeded your spending limits. Any information you provide to the merchant must also match what's on file with the prepaid card issuer.
What is the disadvantage of a travel money card? ›
Drawbacks of a travel money card
Even though you might save on ongoing currency conversion fees, be mindful of the other fees associated with the card, such as purchase fees, ATM withdrawal fees, or inactivity fees.
Should I travel internationally with a debit card? ›
Whether you should use a debit card for travel depends on your own circ*mstances. For instance, you should avoid using a debit card in another country if you'll be hit with high foreign transaction fees and ATM fees.
What is the best card to travel overseas with? ›
We selected the cards based on features and costs relevant to travellers and they are ordered by the lowest annual fee.
- Bank First Visa Platinum Credit Card. ...
- HSBC Low Rate Credit Card. ...
- ING Orange One Rewards Platinum. ...
- American Express Platinum Edge. ...
- Commbank Ultimate Awards credit card. ...
- American Express Platinum.
Credit cards often offer better fraud protection
With a credit card, you're typically responsible for up to $50 of unauthorized transactions or $0 if you report the loss before the credit card is used. You could be liable for much more for unauthorized transactions on your debit card.
What is the best way to pay when traveling abroad? ›
One of the forms of payment you bring with you abroad will likely be your home bank ATM/debit card. It provides a convienient way to withdraw money from your home bank account while you are aborad. Be sure to talk to your bank before you leave and let them know you will be abroad and plan to use the card.
Is it best to pay with credit card for flights? ›
Yes, it's better to use a credit card for flights, particularly if you have a travel credit card that offers bonus rewards and airline-related perks. Using a credit card rather than a debit card or another payment method makes it easier to book flights and can save you money with rewards.
