MONEY, EXCHANGE & CURRENCY IN MILAN

Navigating the financial landscape during your visit to Milan is essential for a smooth and enjoyable experience. Understanding the currency, exchange options, and financial services available will help you make the most of your time in this vibrant city.

Currency:

  • Official Currency: Milan, like the rest of Italy, uses the Euro (EUR) as its official currency. Ensure you have an adequate supply of Euros for your daily transactions.

Currency Exchange:

  • Banks and Exchange Offices: Milan offers numerous banks and exchange offices where you can convert foreign currency to Euros. Banks typically provide competitive rates, while exchange offices may offer extended hours for convenience.

ATMs:

  • Accessibility: ATMs are widely available throughout Milan, especially in busy areas, shopping districts, and near major attractions. They offer a convenient way to withdraw Euros directly from your bank account.
  • Currency Withdrawal: Use ATMs to withdraw Euros. Confirm with your bank about international withdrawal fees and inform them of your travel dates.

Credit Cards:

  • Acceptance: Credit cards, especially Visa and MasterCard, are widely accepted in Milan. Larger establishments, hotels, and restaurants usually welcome card payments. Ensure you notify your bank of your travel plans to avoid any issues with card transactions.

Currency Exchange Tips:

  • Compare Rates: Before exchanging currency, compare rates at different banks or exchange offices to get the best deal.
  • Service Fees: Be aware of any service fees or commissions associated with currency exchange. Some services may charge a flat fee or a percentage of the exchanged amount.

Tipping Culture:

  • Restaurants: Tipping in Milan is customary but not obligatory. It’s common to round up the bill or leave a small percentage (around 5-10%) as a gesture of appreciation.
  • Other Services: Tipping taxi drivers, hotel staff, and tour guides is appreciated but not mandatory.

Banking Hours:

  • Weekdays: Milan’s banks typically operate from Monday to Friday, with standard hours from 8:30 am to 1:30 pm and then from 3:00 pm to 4:00 pm.
  • Closed on Weekends: Most banks are closed on weekends, so plan your currency exchange accordingly.

Currency Precautions:

  • Pickpocket Awareness: Be cautious of pickpockets, especially in crowded tourist areas. Use secure wallets or money belts to safeguard your cash and cards.
  • Emergency Contacts: Keep a record of your bank’s emergency contact number and your card details in case of loss or theft.

Mobile Banking Apps:

  • Convenience: Consider using mobile banking apps for real-time account management and transactions. Ensure the app is compatible with international travel.