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The nearest bank in Riva is a Swiss bank chain called "Raiffeisen". It is a 4 minute walk from the Villa Maderni. It has a 24 hour ATM that gives good rates on most withdrawals, especially from TechFCU. Check cards and credit cards normally have success at the ATMs in the area and Riva, but some ATM cards WILL NOT WORK in certain machines. Therefore, it is recommended to bring a card with ATM privileges that draws from a checking account.
Bank Timing:
Mon. - Wed. 8:30 a.m. - 11:45 a.m. / 2:00 p.m. - 5:00 p.m.
Thurs. 8:30 a.m. - 11:45 a.m. / 2:00 p.m. - 6:00 p.m.
Fri. 8:30 a.m. - 11:45 a.m. / 2:00 p.m. - 5:00 p.m.
* The bank in Riva offers fair exchange rates to the dollar but better to the Euro and will exchange traveler’s checks, (however we do not recommend students to rely on traveler's checks but to plan for an ATM card with checking account draws).
* Always try to spend all of your coins. It is difficult to find places that will change coins into other currencies. The train station in Lugano will exchange coins at a very low exchange rate.
* Use a credit card whenever possible to make purchases; they give better exchange rates. However, don’t count on being able to use it everywhere, as many places only accept cash.
* Avoid making cash advances with your credit cards because they are costly. It should be your last resort. There are a few banks that will allow you to take out cash advances without a PIN number.
* There is a Western Union at the Lugano and Mendrisio train station. However, you must pay a wiring fee as well as your train ticket to Lugano to collect your money. Transactions are expensive, this system is only to be used in case of emergency (lost ATM card, credit card, etc.).
* If you have an ATM card, you will use it often to get cash. However, withdrawals may cost you anywhere from $1-$5. There is an ATM machine in Riva across from the Denner. When traveling, don’t rely on this method as your only means of getting money, because the computerized links may go down.
Management Entity: Office of International Research, Education, and Development,
Virginia Tech, Blacksburg, VA - 24061-0334