You may want to arrive with a small amount of foreign currency. You can exchange currency and travelers checks at exchange bureaux and authorized banks. Exchange windows at airports, railway stations and hotels will exchange currency and travelers checks, but usually at a less favorable rate.
Currency
Since February, 2002 euro has become legal tender in Italy.
Euro notes come in denominations of EUR500, EUR200, EUR100, EUR50, EUR20, EUR10 and EUR5. The euro is divided into 100 cents, and coins are available as EUR2 and EUR1 and 50, 20, 10, 5, 2, and 1 cents. The euro can be used in 11 other European countries: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Luxembourg, the Netherlands, Portugal, and Spain.
For the most favorable rates, change money through banks. Although ATM transaction fees may be higher abroad than at home, ATM rates are excellent because they are based on wholesale rates offered only by major banks. You won't do as well at exchange booths in airports or rail and bus stations, in hotels, in restaurants, or in stores. To avoid lines at airport exchange booths, get a bit of local currency before you leave home.
Bank Hours
Banks are generally open from 8:30am to 1:30pm and from 2:45 to 3:45pm Monday through Friday.
Charge Cards
Charge cards are widely accepted throughout Europe and generally offer a favorable exchange rate. Automatic teller machines may also be found in the larger cities in Europe and many accept U.S. bank and credit cards.
VAT Refunds
Most European countries levy a value added tax (VAT) on items. It is included in the purchase price of all items and can run 15 to 20 percent of the total price. Many stores will have a form that you can ask for and fill out, and you can receive the refund upon leaving the country (at the airport) or by mail. Some countries have minimum-purchase requirements. VAT rates and refund procedures vary by country.
Tipping
Tipping is at the discretion of the individual, however, in Italy it is practiced almost everywhere. The following information is given as a guideline only and is not intended to dictate what travelers should tip:
Restaurants: 10%-15%
Deluxe dining: 15% waiter, 5% captain
Taxicab driver: 10%
Hotel bellhop: $1 per 1-2 bags
Hotel doorman: $1 per taxi
Airport porters: $1 large bag, $.50 small bag
