Italy is home to the Bank. The modern Bank institution as we know it was invented in Italy in the 14th Century. While we are talking about history, the oldest bank ever is called Monte dei Paschi di Siena and is based in Siena, Italy.
When visiting Italy as a tourist you know things will be expensive, but you were also hoping you could save some money on International ATM access fees from Italian banks. Fortunately the one thing you that might save you is the Global ATM alliance between banks all the way around the world. So depending on the country of your home bank will depend on the alliance of that bank with banks in Italy.
If you are from the United States of America and thinking of traveling to Italy, then the Bank of America has a global ATM alliance with BNL. This allows you to use the BNL ATM in Italy without incurring a US$5 International ATM fee. (Please note however that other fees such as foreign exchange and international transaction fees may still apply)
For Australians, Westpac bank is a part of the Global ATM Alliance and has an agreement in place with Deutsche Bank, so using their ATM’s in Italy will ensure that you won’t pay the International ATM access fee. Rather only the Westpac foreign transaction fee which is generally applied to all transactions in a foreign currency. This fee can range from 2%-3%.
For Germans that have a BNP Paribas bank account can access the ATM’s of BNL Banca Nazionale Del Lavoro in Italy and enjoy the same benefits of all Global ATM alliance customers world-wide.