Italian ATMs don't charge usage fees. The conversion to Euros is also worked out using the mid-market rate, so you'll get the fairest exchange rate possible.
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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.
It's always wise to carry a small amount of cash for smaller cafes and restaurants, some public transport options, and taxis who may not accept credit card payments. We once visited the same restaurant 5 years in a row, only to discover each time that their card machine was out of order!
Many Italian restaurants and shops prefer cash, making it essential that you have a little on hand as you travel. While it can be better value to buy the currency before you go (see our section on that below), you can also get currency once you arrive in the country.
It's always wise to carry a small amount of cash for smaller cafes and restaurants, some public transport options, and taxis who may not accept credit card payments. We once visited the same restaurant 5 years in a row, only to discover each time that their card machine was out of order!
In Italy, cash is still preferred in most restaurants, cafes and other establishments, although credit and debit cards are becoming more widely used throughout Italy and are an increasingly convenient way to pay for things. Visa and Mastercard are widely accepted, although American Express is not.
Bring $100-200 USD cash, but keep it stashed away and don't change into Euro. It's only to be used as a fallback if every ATM in the country is out of order at the same time. Use ATMs to withdraw Euro from cash machine in the airport upon arrival, and replenish your Euro supply at an ATM when you run low.
Using credit and debit cards in Italy is the easiest and cheapest way to get local currency. Make sure to notify your banks that you'll be traveling to Italy before you go. Be sure your PIN is both four digits long and numbers rather than letters.
Don't bring any more cash with you than you'd normally carry with you in your own country on a daily basis. Bear in mind the increased pickpocketing risk for a tourist in Rome. When you get to the airport, get one or two hundred euros out of one of the ATMs in the baggage hall just in case (they don't charge fees).
Start off with 200 or 300 Euros and then take some out as you need it from a Bancomat (bank owned ATM) and not from a money exchanger such as TravelEX. Use your credit card as much as possible for larger purchases and keep your cash (large denominations) and passport in your money belt or pouch.
Most US-issued credit cards work in Italy. It's best to use cards issued by Visa or Mastercard, rather than American Express or Discover. The latter two are not as widely accepted, except in major cities and tourist hotspots. And it never hurts to have a little cash in euros in your wallet either, just in case.
US dollars: I carry $100–200 as a backup. While you won't use it for day-to-day purchases, American cash in your money belt comes in handy for emergencies, such as when banks go on strike or your ATM card stops working. I've been in Greece and Ireland when every bank went on strike, shutting down without warning.
If you ask locals “Do you tip in Italy?”, they'll explain that while they sometimes leave a small tip, it's generally not necessary. In Italy, gratuity (or una mancia, pronounced oo-nah MAN-chah) is considered a bonus for exceptional service. And it's not often that you'll find a tip jar at a register.
The average price of a 7-day trip to Italy is $1,170 for a solo traveler, $1,859 for a couple, and $2,034 for a family of 4. Italy hotels range from $50 to $232 per night with an average of $80, while most vacation rentals will cost $150 to $420 per night for the entire home.