Travel money Italy 2021: How to pay & how much to bring

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Travel money guide: Italy

Ciao, amico! Traveling to Italy? Start comparing different ways to spend and prep your wallet for all of the pasta, pizza and gelato.

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The official currency of Italy is the euro, even though the country is still somewhat a cash based economy. You won’t be paying cash all of the time, as there are shops and merchants in Italy that are well equipped to accept card payments – Visa and Mastercard are more common than American Express.

Just look for a card that doesn’t charge for international ATM withdrawal, or currency conversion, and you’ll have a vacation without paying all of the extra fees in what is arguably one of the most beautiful countries on Earth.

Our picks for traveling to Italy

American Express® Gold Card logo

Our pick for travel credit card

American Express® Gold Card

★★★★★
Finder rating: 4.6/5
Transferwise Multi-currency logo

Our pick for multi-currency debit card

Transferwise Multi-currency

★★★★★
Finder rating: 4.5/5
SoFi Money logo

Our pick for 0% transaction fee debit card

SoFi Money

★★★★★
Finder rating: 4.6/5

Travel card, debit card or credit card?

Credit cards and debit cards with travel features are just as suitable to take on a trip to Italy and Europe as a prepaid travel money card. You can use your Visa or Mastercard in Italy without issue, though American Express typically has a higher surcharge and isn’t as commonly accepted. Use your card to pay for train tickets, souvenirs at gift shops, hotels, trattorias (Italian eateries), restaurants and more.

What you’ll need cash for is to pay for street food, taxis, to pay tour guides and for purchases under 10 or 20 euros. When you compare cards, look for a product that lets you forego the foreign ATM transaction fee.

A combination of travel money is the best approach for spending in Italy. Take more than one way to withdraw cash as there have been claims that Italian ATMs can be temperamental with foreign cards. You don’t want to be in a foreign country without access to money if one of your cards is lost or stolen.

Make your vacation memorable for all the right reasons and travel with peace of mind that you’re getting the most from your budget with a travel card, credit card or debit card.

These are your options for spending money in Italy

Using a credit card

A credit card like the Barclaycard Arrival Plus World Elite Mastercard will let you make over the counter purchases without paying any foreign transactions fees. Be aware when it comes to cash advances, as interest will apply immediately when you use your card at an ATM – this should be avoided unless absolutely necessary.

Some travel friendly credit cards also offer perks such as complimentary international travel insurance and purchase protection guarantees.

  • Tip: Make sure you tell your bank about your travel plans, as they may put a block on your account if they see a transaction in another country.
Pros
  • Protected by PIN & chip
  • Access to funds up to your credit limit
  • Some have no currency conversion or transaction fees
  • Interest free days when you pay your account in full
  • Perks like complimentary travel insurance and reward points
  • Emergency card replacement
Cons
  • Can charge high withdrawal and cash advance fees
  • Attracts an annual fee

Using a debit card

A travel debit card that waives the fee for currency conversion, or the fee for international ATM withdrawals, with no annual fee is ideal. Research if who you bank with is part of the Global ATM Alliance to find out if you can make cash withdrawals for free. If not, you can access cash in Italy for roughly the same price you would at home.

  • Tip: Your debit card will work in more places if it has a CHIP. A debit card with a CHIP will work at unmanned point of sale terminals such as petrol stations, ticket kiosks, toll booths and parking payment machines.
Pros
  • Protected by PIN & chip
  • Access to your own money, without needing a separate ‘travel account’
  • Cheap and convenient access to cash
Cons
  • International ATM fees and currency conversion fees
  • Foreign transaction fees
  • No emergency funds available though a cash advance facility

Using a prepaid travel card

Preload a travel card with euros and avoid the fees that usually go hand in hand with international purchases. Compare these cards by their ATM fees, initial load and reload fees. Some ATMs in Italy don’t charge an ATM operator fee, by choosing a product which waives the international ATM withdrawal fee, you should have no problem accessing your money at Italian bancomat machines.

  • Tip: A travel card lets you lock in the exchange rate when you transfer funds between different currencies. This feature can be handy if you think it will become more expensive to purchase euros during your trip.
Pros
  • Pre-load euro and spend without incurring fees for currency conversion
  • Protected by PIN & chip
  • Emergency card replacement and backup cards
  • Reloadable and keep track of your spending
Cons
  • May still be charged for ATM withdrawals.
  • Reload fees could be high
  • Foreign exchange rates are usually less competitive

Paying with cash in Italy

Cash is king. Italy is a cash based society compared to other major economies in Europe. You can still use your card in almost as many places as you would in the US and other countries; however, there’s a reluctance among Italians to let go of cash as a method of payment for things like rent, food, clothing and so on.

Pros
  • Greater payment flexibility
  • Convenience
Cons
  • Difficult to manage expenses
  • Higher risk of theft

Using traveler’s checks

Traveler’s checks have become a financial product of the past. Many banks in Italy will refuse to cash them, so don’t bother with this travel money product.

Pros
  • Secure and can be easily replaced if lost or stolen
  • Photo ID needed to cash checks
Cons
  • Not accepted everywhere
  • Can be costly with initial purchase charges

Compare travel credit cards

Name Product Welcome offer Rewards Annual fee Filter values
American Express® Gold Card
60,000 points after spending $4,000 in the first 6 months
4x at restaurants including delivery and Uber Eats; 4x at US supermarkets on up to $25,000 annually (then 1x points) and 3x points on directly-booked flights
$250
Earn up to 4x points on select purchases, a bevy of travel perks, and a welcome offer worth up to $600 with this upper-mid tier travel card. Terms apply, see rates & fees
Chase Sapphire Preferred® Card
60,000 points after spending $4,000 in the first 3 months, a value of up to $750 through Chase Ultimate Rewards. Plus up to $50 statement credit towards groceries.
5x points on Lyft, 2x points on up to $1,000 on groceries until April 30, 2021, 2x points on travel and dining and 1x points on all other purchases
$95
Earn a signup bonus worth $750 plus up to $50 statement credit towards groceries with this popular travel card.
The Platinum Card® from American Express
75,000 points after spending $5,000 in your first 6 months, plus 10x points at US gas stations and US supermarkets on up to $15,000 in combined purchases in the same timeframe
10x points at US gas stations and US supermarkets on up to $15,000 combined in the first 6 months, 5x points on directly-booked flights on up to $500,000 annually, then 1x points after that and on other purchases
$550
One of the most valuable premium travel cards, featuring two welcome offers worth up to $4,500, multiple travel credits and unrivaled lounge access. Terms apply, see rates & fees
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Exchange rate history

Predicting the movements of currency pairs is a difficult task, but you can lock in the exchange rate on a travel card if you believe euros will be more expensive to buy in the future.

Live Rate

= 0.8392

Refreshing in: 60s | Sun, Mar 07, 07:54PM GMT

Buying currency in the US

There’s no limit to the amount of foreign currency you can bring into the Italy or the eurozone. However, you’re going to have to declare your cash if you’re planning to enter or leave the country with more than 10,000 euros. You have the following options for purchasing euros in the US.

A quick comparison of bank and non bank providers shows that if you use the foreign cash services of a company like Travelex, you’ll end up with a few extra dollars. Non-bank providers like travelex have locations in major airports where you can collect your euros before you depart the country.

Italian currency

Italian 5-eurosItalian 10-eurosItalian 20-euros
Italian 50-eurosItalian 100-euros

The main banks in Italy are:

  • Unicredit SpA
  • Intesa Sanpaolo
  • Cassa Depositi e Prestiti
  • Banco BPM
  • Banca Monte dei Paschi
  • UBI Banca
  • Banca Nazionale del Lavoro
  • BPER Banca
  • Mediobanca
  • Crédit Agricole Italia

Making ATM withdrawals

The best way to get cash in Italy is to make an ATM withdrawal when you arrive. The Visa or Mastercard exchange rate applies and is better than any rate you’re likely to get exchanging currency at an exchange office or a bank.

Italian bank ATMs are called bancomats and some do not charge a local ATM operator fee – avoid using independent ATMs. These third party ATMs charge like a wounded bull, it will be obvious which ATMs are affiliated with a bank and which aren’t.

Find ATMs in Italy

Cash pickup services in Italy

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
$1 Within an hour USD 3.99 0.835 EUR 832 WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups. Go to site Show details
$10 Within an hour USD 1.99 0.822 EUR 821 Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Go to site Show details
$1 Within an hour USD 8.00 0.82 EUR 814 MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide. Show details
$1 3 - 5 days USD 20.00 0.818 EUR 802 Western Union sends money online to friends and family in 200+ countries around the world. Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How many euros do I need to bring to Rome?

The summer season premiums (late June, July and August) will add to the cost of an Italian trip – off-season, prices drop dramatically. The cost of vacationing typically depends on where you are in the country. In smaller towns, especially in the South, Italy is surprisingly affordable. In the middle of the country, the north and especially in touristic places like Rome, Venice and Milan, it can be expensive.

Find out some typical vacation prices in Rome.

A quick summary of travel money options in Italy. All prices are in US dollars.

BudgetMid-rangeLuxury
MealsTrapizzino: $4
Sandwich: $3 – $5
Dinner for two with wine
$70
5-star restaurant
$100 – $600
ActivitiesColosseum entry
$14
Rome and Colosseum half day walking tour
$60
Imperial Rome golf cart tour
$215
AccomodationCamping in Rome
$12 per night
2-star hotel in Rome
$70 – $140 per night
5-star hotel in Rome
$180 – $600 per night

Prices are for example purposes only.

Case study: Frank's experience

Frank profile photo
Frank

Interview with Frank in Italy

Do you have any travel money tips for Italy?

  • Cash prices. Frank says a price can drop if you choose to pay cash over card. It doesn’t hurt to ask how much a purchase would be if you’re paying in cash.
  • Stand to drink. Frank says stand up to drink your coffee. By taking a seat at a cafe or bar, the price can double or triple.
  • Get away from the tourist areas. Especially in Rome, the further away you are from the tourist hot spots, the less you’ll pay.
  • Train speed and prices. Fast trains between cities cost twice as much as the regular train. Frank says he enjoyed taking the slow train because it gave him time to see the countryside – it also cheaper if you book in advance.
  • Tip: Find travel insurance for your trip to Italy

It doesn’t matter how cautious you are while traveling, nobody is exempt from the risk of unfortunate losses while traveling. Travel insurance can offer financial protection against such losses as:

  • Trip cancellation charges
  • Lost or stolen valuables
  • Medical emergencies including evacuation and hospital stay
  • Car rental coverage
  • Personal liability

Compare travel insurance for your next trip to Italy

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Our latest travel deals to Italy

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2 Responses

    Default Gravatar
    AlbertJanuary 14, 2018

    What’s the most inexpensive best coverage?

      Avatarfinder Customer Care
      JoanneJanuary 15, 2018Staff

      Hi Albert,

      Thanks for reaching out.

      Here at finder we are unable to make recommendations, we can offer general advise.
      You can use the table above to compare travel insurance quotes from a range of insurers. The table should allow you to compare features between companies. Should you need additional details, you may go ahead and click on more info or go to site.

      Cheers,
      Joanne

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