Should i open a bank account in Milan, Italy for a year student exchange ?
I am from London, UK. I am was born in England so yes i qualify as an EU Student, just to get that out of the way lol. I would like to know should i open an Italian account while i am on my year long exchange or should i stick to my home bank account [Lloyds TSB] Would it be more useful and cheaper [no international fees from home bank lol] to just open an Italian account? Any information you might be able to give would be appreciated thanks!
Personal Finance - 1 Answers
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1 :
YES it will be cheaper. I recently discovered (after traveling a year) that each ATM machine was charging me $7.49 USD to make a withdrawal PLUS a $19.50 currency exchange fee. Open an Italian account, wire the funds you need and have them available to you locally at a better price.
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