All About Money and Your Italy Vacation

If you are traveling to Italy for a vacation, you need to be aware of some basics about the currency. Travelers are usually concerned with several questions. What is the currency conversion rate? Where can I change my dollars into Euros when I arrive? Can I use my travelers' checks? Are ATM machines readily available? What if I need a larger amount of cash and I need a bank? Can I use my major credit card at many places? What about tax-free shopping?

 These are all great questions to ask before you go on your Italy vacation and each one has an answer that will be addressed here. First of all it is important to know that Italy uses the European Euro. There is no "Italian currency." One dollar ($1) is equivalent to approximately 0.70 euros. The currency conversion rate can fluctuate daily so it is best that you check for a more accurate figure before you leave for your vacation to Italy. You can find the most current exchange rate at The Universal Currency Converter website.

You could always find out from your Credit Card Company or bank if their cards can be used worldwide before you leave for your vacation to Italy. Most businesses accept major credit cards in Italy and you should always look for the credit card signage stickers on doors of shops just like there are in the US. Visa is the universal credit card. Less so is Master-Card. American Express is accepted mainly in major hotels, car rental agencies and airlines. Most smaller businesses do not accept American Express. Always let your credit card company know when you are leaving the country and the amounts that you may be charging. You could easily have a large purchase denied because your credit card company suspects fraudulent use if you do not inform them ahead of time of your travel plans.

Travelers' checks are also accepted in the major cities. Beware, however, that since the advent of the ATM machine, travelers' checks are being used less and less and, in many cases, are frowned upon as a currency. Also, because they are being used less frequently, it has become much more expensive to cash travelers' checks.

Your best exchange rate will usually be with your credit card company. So charge whatever you can. Use cash only when you have to, such as for small purchases -- a cafe or a gelato, meals at small establishments that don't take credit cards, entry fees into museums and tourist sites, etc.

If you need a larger sum of cash than the bancomat will provide during your Italy vacation, you will find that there are banks all over Italy especially at the main tourist attractions. Most Italian banks close for about an hour and a half for a lunch break during the week and are closed on Saturdays, Sundays and National Holidays.

People taking an Italy vacation will be glad to find out that non-resident visitors may claim a refund for the tax they pay on many of their purchases.