No matter what you are looking for, you can find it in Italy. From sightseeing to culture, cities, cuisine, and countryside, this country has it all. Enjoy the country’s rich culture and history or get dragged along by the frantic and multicultural pace of the pulsating cities. But in any travel, money always involved, and for every traveler, knowing their destination’s currency is important for a stress-free travel. So, if you want to know the currency used in Italy, along with other important things you need to know during your trip, this article will help you.
Italy has become a member of the Eurozone, like most countries in Europe, since it was established in 1999. Other types of currency are not widely accepted in the country, and although you find an establishment that accepts a different type of currency, except for the exchange rate to be too low.
Euro Symbols: EUR, €
1 EUR: One euro is made up of 100 cents.
Coins: Coins are available in denominations of 1, 2, 5, 10, 20, and 50 cents, and €1 and €2.
Banknotes: Banknotes available in denominations of €5, €10, €20, €50, €100, €200, and €500.
There are some tips you may want to follow in order to exchange your home currency to euros at the lowest fees possible, here are some of them.
Before changing your first dollar to euros, you have to know that you will get a lot better exchange rate when you choose to pay using a credit card than you ever will when you withdraw money from an ATM.
Depending on the current exchange rate, you can save a lot of money by traveling cashless. The definite bank-by-bank figures ranged from 4% worse than credit cards up to 14.25% worse.
But of course, you also have to keep in mind that not every establishment accept credit card, especially small stalls and services. However, you can easily use your credit card when booking plane tickets or paying for hotels and restaurants.
Like when you are traveling in any other parts of the world, there’s no better place to exchange money than a bank. Through this, you will be able to get the best rates possible by paying the lowest change fees.
If you are in a pinch and in need of local currency or traveler's checks, the best place to go is at a bank.
Many establishments that are embellished with "Exchange! Wechsel! Cambio!" are exchange booths, and each of them is offering a bad exchange rate and higher fees compared to than banks and must only be used in time of needs.
It is not a rocket science and it is obvious why not only knowing the currency used in Italy is the only thing you should be concerned about, knowing how you can save some bucks would also be important, especially if you are trying to save money.
It is worth noting that every major type of credit and debit cards are widely accepted in Italy. Normally, restaurants and shop display a sign on their door to show which type of cards they accept, but then again, asking them first would be better just to make sure.
Again, you have to remember that smaller businesses and establishments may not accept credit card or debit card as a payment, so, make sure to carry some cash with you just in case you need them. Fortunately, you will easily be able to find ATM machines all over the country, especially in the cities like Rome, Venice, and Florence.
An important thing you have to be aware of is that using a credit card or debit card abroad is something known as Dynamic Currency Conversion or DCC. So, how does it work? Well, this is when you pay and you will be asked whether or not you want to be changed using the local currency or the currency you use back home. Because the currency used in Italy is Euro, it may sound less complicated to pay in it, but this may also mean that the exchange rate would be applied to each transaction which make you pay more.
So, there you have it! Hopefully, this article helped you not only know the currency used in Italy, but also the other information that will help you save money while traveling in the country. If you have other helpful tips you want to add in this article, make sure to tell us about it in the comment box below! Make sure to also share this article with your family and friends and help them make their travel experience better and easier!