The travel-related words below are the very important terms to know when talking about travel or taking vacations. In this post, you’ll learn about Money Matters for Tourists Travelling in Italy
BANKS
Banks in Italy are open five days a week (from Monday to Friday) from 8:30/8:45 to 14:00 and from 14:45 to 15:45. However, some banks have chosen to be open also at the lunchtime.
They are closed all day Saturday and Sunday and on national holidays.
Here a list of Top banks in Italy:
- Unicredit
- Intesa Sanpaolo
- Banca Monte Paschi di Siena
- UBI Banca
- Banca Nazionale del Lavoro
CURRENCY
Like most of the European Union, Italy uses the Euro as its currency.
The Euro is represented by both the symbol – € – and the initials: EUR.
It is issued in the following denominations:
Notes
Starting with the smallest €5, going up through 10, 20, 50, 100, 200 and 500.
The 500 note is not very common, so, if you can, choose the smaller notes.
The banknotes used in Italy are the same as those used across the eurozone. They are strikingly different colours which help differentiate them.
Coins
Coins go from 1, 2, 5, 10, 20 and 50 cents to 1 and 2 Euros.
In Europe, each coin has a common design on one side and a nationally specific design on the other.
In Italy, there is a different design for each denomination of coin, for example, a portrait of famous author Dante Alighieri, a drawing by Leonardo da Vinci, etc.
ATM – BANCOMAT
The best way to get money in Italy is to use an ATM or debit card at a Bancomat, the Italian ATM machine. They may be found in large cities and in some small towns.
If you are planning to spend your holiday in Italy in a rural village or in a very small town you could have some problem finding an ATM or a bank so make sure you carry enough cash with you.
Once you insert your card, you will be prompted to choose your language.
English will be one of the choices. Then you’ll enter your 4 digit pin number.
Most Italian Bancomats impose a maximum daily withdrawal limit of 250 euros.
It is best to use bancomats/ATMs during regular banking hours so, that if the machine malfunctions, a teller from inside the bank can assist you.
Watch for all messages written on the screen such as Fuori Servizio, which means “Out of Service.” Do not insert your card in such cases!
CREDIT CARDS
VISA and MasterCard are widely accepted. American Express is not as readily available so do not rely on that card as a primary means of credit.
Some small restaurants only accept cash as well as street markets and smaller shops so be prepared with cash.
Additional Tips
- Look into bank credit cards offered to overseas travellers with low to no conversion fees.
- Notify your bank and your credit card companies before leaving for Italy.
- It is advisable to bring two working ATM cards with four-digit numbers.
Italian Phrase for “Money Matters”
- Dov’è la banca – where is the bank?
- Dov’è la banca più vicina? Where is the nearest bank?
- A che ora apre la banca? What time does the bank open?
- A che ora chiude la banca? What time does the bank close?
- Vorrei pagare con la mia carta di credito – I would like to pay with my credit card
- Vorrei pagare in contanti – I would like to pay cash
- Accetta la carta di credito? Will you accept my credit card?
- C’è un bancomat qui vicino? Is there an ATM nearby?
- Dov’è il bancomat più vicino? – Where is the nearest ATM?
- Cambiare la moneta – make change
- Vorrei cambiare della moneta – I would like to change some money.
- Quant’ è la commissione? What is the commission rate?
- La banconota, il biglietto di banca – bill, banknote
- La carta di credito – credit card
- I contanti – cash
- La valuta – currency
- La ricevuta – the receipt
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