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Mestro train station exchange outlet, Venice

1.0 stars


Changing money in Venice….

Travelers Cheques… Sometimes good sometimes bad, but if you can get a good rate not always a bad way to go. I have a friend that works in finance who got me a really good rate on Euro travels cheques, and for the most part this was a good thing.
This is likely not specific to Venice but when I cashed some TC's at the Mestro train station exchange outlet the woman working there didn’t tell me about all the service fees. She pointed to the top of a sign that said 2% for cashing travelers cheques but mentioned nothing of the additional 12% for same currency trade. Obviously these places make their money on the spread for doing the exchange however a travelers cheque is as good as cash and Euro TC's can be cleared through a regular Euro bank account, so I was a little upset when I realized that I was paying twenty eight euros in service fees. The woman would not reverse the transaction either, so it was an expensive mistake on my part.
I later found out that the place I was staying at would cash them for 2%. So I learned three things from this: Always keep a 50 tucked in someplace so if you run out of cash you have it – this came in handy on a night train leaving Venice; always ask the place your staying if they will cash them for you, and finally Always ask when cashing them how much money you’ll get back before handing them the travelers cheque. [more ]

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