Currency and money
The currency in Italy is the Euro. One euro breaks down into 100 cents. As a rule of thumb the exchange rates to the euro are approximately:
- 0.70 Pounds Sterling
- 1.1 US Dollars
- 1.5 Canadian Dollars
- 1.5 Australian Dollars
The Euro is the second most common currency in the world after the US dollar, and the same banknotes are used in all the countries in the Euro-zone (each country issues different coins, but these differ only in the picture on the back, and can be used outside their country of issue). Even in the European countries which do not use the Euro as their official currency, it is still very common to find it accepted in larger shops and hotels (sometimes at a suprisingly reasonable rate of exchange). It should not be difficult to exchange into or out of Euros at currency exchanges worldwide.
Travellers Cheques:
As with the rest of Europe, travellers cheques are not as useful here as in North America. Large Hotels and stores may accept them in lieu of cash, but most places will simply direct you to a bank to cash them. Banks can charge fairly high commission for this, especially if you are converting into a different currency. It is generally cheaper (although less dependable) to get cash from a home debit or credit card using an ATM machine. If you get travellers cheques, and will be moving between countries it is probably best to get them in Euros.
ATM Machines:
Large towns and cities in Italy are not short of ATMs, and the structure of the banking system, with quite a few regionally-based banks ensures that there are branches (with ATM attached) in even quite small towns. They will pretty much all accept Visa, Mastercard and other cash networks such as Plus, Cirrus and Maestro. Be aware that if a machine retains your card you will probably not be able to get it returned to you - always try to travel with more than one card, and ideally some spare cash in case of emergency.
Credit and Debit cards:
Credit cards are fairly widely accepted in Italy. Apart from in small shops and cafes, and for small amounts, Visa and Mastercard should be accepted. American Express is also fairly widely accepted. The main issue for customers from outside Europe however is likely to be Chip and PIN, which foreign cards are often not compatible with. In theory customers should be able to sign for their purchases if this is the case, but not all outlets will allow this. In any event signatures
will be checked, and if the card
must be used only by its owner.
Shop opening
Shop opening hours may vary a little from region to region in Italy, with the northern regions more likely to adopt more Northern-European hours, however in general large town-centre shops generally open from Monday to Saturday at 9-10 am, and close in the evenings at around 8 pm. Many shops, especially smaller ones and those in the south are likely to close for a siesta in the afternoon. Opening is much more patchy on a Sunday, especially in the afternoon. In most reasonably large towns you should still be able to buy the essentials however.
Banks usually open at 8-9 am, close for the day at around 4-5 pm, often closing for an hour at around lunchtime. Some branches may open on Saturdays, though it is unwise to depend on this. With the increasing influence of foreign banks in Italy opening hours and other practices may become more flexible fairly soon. Post Offices open fairly uniformly from 8:30am to 1:30pm Monday to Saturday.