NOTES ON ITALIAN MONEY, BANKS, ATM'S AND TIPPING IN ITALY
The Euro
Long-time visitors to Italy will think fondly back to the days
of the Lira, and the time when a cup
of coffee cost several thousand of the local currency. Since
January 2002, of course, everything’s gone euro, which
makes life a lot simpler for most of us. We have a simple currency
converter here, and remember that bills will be given in euros,
so remember that the $ or £ amount
that appears on your credit card bill will depend on the exchange
rate when
the
transaction is eventually settled. Should you pay cash, you
will of course get your change in euros, and if you are travelling
further throughout Europe, you can spend these anywhere in
the euro area. That comprises Belgium, Finland, France, Germany,
Greece, Austria, Ireland, Luxembourg, The Netherlands, Portugal
and Spain, though not yet the UK.
Travellers cheques, cash or plastic?
For a combination of security and access to your money, the
sensible way to travel is with a mix of cash, travellers cheques
and plastic. The biggest fear of most travellers is losing
their wallet – and thus any source of funds – miles
from home. Although the increased march of ATM's over the planet
makes it convenient to simply withdraw money as you go, using
your debit card, and thus avoid carrying large amounts of cash
at any one time, there are disadvantages. You’ll find
trips to the ATM no problem in Florence or Rome, but journeying
through rural Puglia you’re going to find yourself many
miles between cash machines. And though Visa, Mastercard and
Amex are as popular in Italy as they are at home, don’t
automatically assume you’ll be able to flash the credit
card to pay for your lunchtime pizza and beer. In downtown
Bologna yes, in a Calabrian village café, no, so make
sure you always have a day’s worth of spending cash in
your pocket.
There are other pros and cons. Lose your plastic and it can take
some time to get a replacement; lose travellers cheques, and your
issuing company should get replacements to you within 24 hours.
It obviously makes sense to use a major provider, such as www.thomascook.com or www.americanexpress.com,
who have blue riband reputations and, crucially, speak your language.
Ensure
you keep a record of your
cheque serial numbers separate from the cheques themselves, otherwise
you could lose the lot! Travellers cheques do carry a cashing charge
of course. Minimise this by taking euro rather than sterling or
dollar cheques. Encashment charges can also vary, with Thomas Cook
waiving fees for cheques cashed at its own offices, so establish
the ground rules.
If you are changing money, try to use a bank rather than a dedicated
cambio as you’re likely to get a better rate. Banks open
Monday to Friday from 8.30am to 1pm, then usually for a further
hour in the afternoon (usually 2.30 to 3.30pm). Names to watch
out for are the Banca Nazionale del Lavoro, Credito Italiano, Cassa
di Risparmio, Banca di Roma, Banco di Napoli and Banco di Sicilia.
If you can’t find a bank branch or exchange bureau, try one
of the larger hotels.
If you’re really stuck you can have money wired to you via
American Express Money gram (www.moneygram.com),
Thomas Cook (www.thomascook.com)
or Western Union (www.westernunion.com).
This is generally done bank-to-bank but beware, it is a pricey
option. It’s always
worth sitting down and making a note of your cheque numbers, the
home phone numbers for your credit card supplier and of your bank
branch, even checking out where the nearest ATM's are to where
you will be staying – your destination hotel will be able
to give you this information.
How much?
One unwelcome effect that long-time visitors will notice is that
the euro has had the effect of ‘rounding up’ prices,
and then a bit more. Italy isn’t as cheap as it was (though
still cheaper than Britain for alcohol, tobacco, eating out to
name just three). Italy is a richer country than it was, it’s
much more of a tourist pull than it was, and all these factors
tend to pull prices upward. The cities, predictably, are more expensive
than the countryside – with Venice, Rome, Florence, Milan
and Bologna being the most affluent and the most expensive towns.
The further south you travel in Italy, the cheaper things tend
to get. Holidaymakers in rustic areas of Calabria and Campania
will be amazed at how much good food and wine their euros buy them.
And even a first-rate (though still unspoilt) destination such
as Sicily offers fantastic value for money compared to the north.
Prices may seem a bit topsy turvy to visitors from Britain and
the US. A glass of beer in a café can be very expensive
(with the price going up should you choose to sit rather than stand
at the bar). By contrast, wine is cheap, while coffee and soft
drinks are more expensive than in the US but cheaper than in Britain.
Away from the centres of the big cities, eating out becomes very
cheap. And unlike at home, a tip is not expected and certainly
not demanded; service charges are built into bills, though you
can give 10 per cent if you were pleased with the service … and
why not?
Britons will find public transport surprisingly cheap – it
also tends to be clean and run on time – and using the national
rail network to explore the country is a feasible and affordable
option. Finally, and we know you know this, but we all get a little
more relaxed on our holidays – as you are travelling around,
take care of your cash. Italy is remarkably crime free, especially
compared to the US. You are unlikely to be the victim of a crime
of violence for instance, but what crime there is tends to be of
the pickpocket variety, and leaving your bag unattended on a table
or train seat is asking for it. Keep your cash, cheques and credit
cards in separate pockets, so if you lose one you don’t lose
all.
