I exchanged USD400.- into Euro in Maccorp Italiana S.p.A. in Pisa train station. They charge me 19.9% service in addition to a Servizio Fisso of Euro3,90. I think that is unreasonably high. The buying rate was already high at 1.69397.
I want to lodge a complain, anyone knows the Authority that supervise money exchanger?
Unique Suggestions: Although in the web-site of Maccorp Italiana, it is stated that no commission charge for money exchange, they charge an excessive rate. So pls ask and check before the transaction.
You think exchanging money at Foreign exchange businesses IN ITALY is safe business? Think again!
From experience here in Italy, you may be robbed and not even know it.
We went to Maccorp Italiana S.P.A (Roma Ottaviano – C.F. e P.I. 12951210157) to exchange USD $ 300 (the rate for the time was 1.55978).
Commission (their servizio) was 17.90 % (+) a EURO 3.90 (servizzio fisso) fee.
In conclusion, we were charged over USD $ 50 worth of fees and walked out with only EURO 154.00.
At an honest place for money exchange in Italy, we would have walked away with at least EURO 189.00 (after all fees).
We asked the rude guy why he was charging so much and informed him we would like our USD back (as he was protected behind a bullet proof glass shield).
Yet unfortunately he did not cooperate and we walked away to avoid issues with him.
Unique Suggestions: AVOID GOING TO:
Maccorp Italiana S.P.A (Roma Ottaviano – C.F. e P.I. 12951210157)
Fun Alternatives: Go to banks, it is far safer and you get better rates.
Also, before handing over your money, ask exactly what they service fees consist of and how much you are getting in return after all their fees.
Beware of some places that charge you a commission for changing dollars to euros. It may be as high as 13.5% plus a fixed expense. I was caught at a neat place in the middle of Termini station. They show you the normal exchange rate in big letters and the commission charge is almost hidden at the bottom of the board. I recommend changing money 1 block before the Amex offices on your way to Piazza di Spagna along Via Propaganda. Good exchange rate and 0% commission. Even American Express will charge you with 1.5% commission. By the way, exchange rates are far better in Rome compared to Florence and Venice.
Unique Suggestions: Ask them first to show you in writing how much they will pay you net after commission. They use the language barrier on their side to create confusion and make you fall in their trap. Don't hand in a bill until you're not completely sure.