Art, culture, heritage, history, architecture, island coast and gastronomical paradise. Italy is one of the most popular tourist destinations with an estimate of 50 million tourists visiting each year. If you are planning on traveling to Italy, this guide will give you the ultimate tips and tricks on how to save on Italy travel money exchange.
Where Can You Find the Best Travel Money Rates for Euros?
The Internet has made it easy for anyone to compare exchange rates. This is the most time and cost effective way of comparing travel money exchange rates.Alternatively, you can choose to explore different rates and fees with the following banks and money changers here:
Find the Best Way to Exchange Currency
How Much Cash Should I Bring to Italy?
The Euro (EUR) is the currency used in Italy. Although cash is still the preferred method of transaction, Visa and Mastercard payments are accepted by most major establishment these days.
Need to make a withdrawal? Italian Bancomat (ATMs) can be found all over the country. When you make a withdrawal at the Bancomat with an ATM card, money will be dispensed in Euro at the exchange rate decided by your bank. If you want to make a withdrawal with your credit card, keep in mind that high fees of up to 4% can be imposed.
If you are travelling from Australia, apply for a fee-free ATM card before your trip. You’ll have the benefit of withdrawing money without fees at any partnering Bancomat.
It will be wise to have cash with you when you land in Italy. Locals and travelers can agree that technical failure, and in some cases fraudulent activities are common at Bancomats. Be prepared to bring more cash and avoid using Bancomats too often.
Depending on your lifestyle and budget, this Travel Money Italy guide is a good rule of thumb to follow:
|Daily Budget||Low (€100)||Mid (€100-250)||High (€250>)|
€15-30 per night
|Double room, Hotel
€110-200 per night
from €200-450 per night
|Pizza or Pasta
€25 – 50 per person
€50 – 150 per person
|Ferry to Capri
€35 round trip
|Car rental (Fiat 500)
From €105 a day
*All prices are in Euro and are an estimate
The Best Card To Use In Italy
Visa and MasterCard are both accepted by major establishments across Italy
If you favour credit cards for travel, do your research. Some credit cards are more expensive than others.
Overseas credit card use attracts additional fees and charges related to conversion rates, so speak to the card provider to ensure you understand the fees before committing.
International ATM fees can add up very quickly. It can be avoided by doing over the counter transactions. Loading up your card with your own money is another way to avoid cash advance rates but be aware that, by doing this, you may waive some of your protection against fraud.
Travel insurance is always critical so speak to your travel agent about the level of protection you need to make sure you’re covered.
Using Your Debit Card in Italy
The alternative to a credit card is a debit card you can use to make purchases over the counter or withdraw via the ATM.
There are still fees – mainly to do with international currency conversion and, with some cards, they are higher than others. Compare pricing before making your choice. Some Australian financial institutions have relationships with overseas banks and this can mean waived or reduced fees and charges for ATM use.
For up-to-date information on the best card for your European travel needs, talk to our team of currency experts at The Currency Shop for accurate advice.
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