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MAYMESTER MONEY MATTERS Program Cost:
"How Much Money Do I Need To Take With Me?"
Estimated Additional Necessary Finances: $1,250 - $2,175 (excluding personal purchases and independent travel) It is recommended that you bring small denominations of Euros with you for use immediately upon arrival. It is difficult to cash travelers checks, particularly in Rome. Be sure to check the currency exchange rate from U.S. dollars to Euros before you leave the U.S. because everything you buy in Italy will be in Euros. Currency & Banking: It is not recommended that you bring the entire amount of money you expect to spend in cash. You will not need a large amount of money with you when you arrive in Rome or Cortona if you have an ATM or credit card. If you want to bring the entire amount of money you will need for the Maymester, bring it in the form of travelers checks. Be sure to keep a list of your traveler's check numbers in a secure place separate from the checks themselves in case they are lost or stolen. Before your trip it’s a good idea to inform your bank of the dates that you’ll be traveling abroad. We recommend that you take a small amount of U.S. cash with you when you travel to Italy and exchange it in the airport or train station as soon as you arrive. You can also exchange dollars to Euros in Athens or at the Atlanta airport before you leave the U.S. After you arrive in Rome or Cortona, we suggest you cash travelers checks as needed weekly at the local bank or use your ATM card to obtain cash from automated tellers. Credit cards (American Express, Visa and MasterCard) are honored in most places throughout Europe. They are not a substitute for cash, but using them gives you the advantage of the best exchange rate when you are billed by the credit card company. It is highly recommended that you bring a credit card in your name, signed on the back to be used in case of emergencies. Before your trip it’s a good idea to inform your credit card company of the dates that you’ll be traveling abroad. Exchange rates at banks are generally better than exchange rates at a cambio. Also, a cambio in a train station or airport will usually have a less favorable rate than one in a more business-oriented district. Frequently hotels will exchange money or travelers checks, but the rate is much less favorable than at a bank. When cashing travelers checks, you must present your passport. The exchange procedure can take up to half an hour, so it is a good idea to cash enough travelers checks to last you for about a week at a time.
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