How much money should I take to Italy?
The Euro is one of the strongest currencies in the world! It was created in 1998 and adopted by 19 European countries. Today, it is one of the most valuable currencies in the world and has unquestionably established in the international market. First of all it is necessary to know that there is a LIMIT to take money to Europe, but there is also a MINIMUM value. Confused? I’ll make it clear for you! We’re happy to present you our special post: How much money should I take to Italy? In this post we will clear your mind about this. Here at Your Travel to Italy with Ana Patricia you make the trip of your dreams!!! ALSO: see our “Accommodation in Italy – Tips for your holidays!”
1) How much money should I take to Italy? READ ABOUT SCHENGEN’S AGREEMENT
Is there a minimum amount? Yes! There is a minimum amount and is a requirement of the countries that are part of the so-called Schengen Area. But, after all, what is the Schengen Area? The Schengen Agreement is the union of 30 countries that have adopted a policy of opening borders and free movement of people between the signatory countries.
Countries that are in the Agreement
This agreement includes all the countries of the European Union and three countries that are not part of the EU, Iceland, Norway and Switzerland. In time: Liechtenstein, Bulgaria, Romania and Cyprus are in the process of implementing the agreement. Be sure to read our Special Post “What documents do I need to enter Italy?”
The agreement says that the traveler needs to have monetary resources to stay in the country during the stay, that is: there is a minimum amount of money required per day of travel; below, we can see the table defined by the Itamaraty in agreement with the Ministry of Foreign Affairs.
|Travel duration||1 person||2 or more people|
|From 1 to 5 days: total fixed quota||EUR 269,60||EUR 212,81|
|From 6 do 10 days: daily quota per person||EUR 44,93||EUR 26,33|
|From 11 to 20 days
Daily quota per person
|Above 20 days
Daily quota per person
2)How much money should I take to Italy? SEE THE VALUE VERIFICATION
They do not always verify the tourist, but I suggest you not taking risks! It is good to know that if you are approached at customs and they request this information, you need to be able to “prove” that you can maintain yourself and, therefore, have and present: international credit cards, cash, hotel reservation, invitation letter, etc. (Note: they are very specific and will ask for what they want to verify, so keep these documents always at hand!)
3) How much money should I take to Italy? VALUE OVER THE LIMIT
What if I take more money than the specified amount? You have to declare to customs authorities.
IMPORTANT: From June 2021, the European Union will authorize the entry and exit of citizens and tourists in any UE country member up to EUR 10K, with the need to declare the amount to the authorities. For more info, click here.
4)How much money should I take to Italy? AVOID A PUNISHMENT
What if I don’t declare? What can happen? It depends on the case. There may be apprehension of exceeded money, punishment according to the law in force in the country of destination and, in the “worse” scenario, even banishment. So ALWAYS TRAVEL WITH EVERYTHING IN ORDER to avoid any problem!
5)How much money should I take to Italy? SEE THE WAYS TO TAKE MONEY
How do I take money to Italy? Take part in cash and part in credit card, traveler’s check or prepaid card. For daily spending, use cash and BECOME FRIENDS with the coins! Italians LOVE coins and the changes in Italy are always VERY PRECISE! That is, if you pay something EUR 1.99 you can be sure that you will receive a penny back! Use coins to pay for public transport tickets and remember that exchange offices DO NOT EXCHANGE COINS! And coins also helpful to pay parking, gelato (!!!), and much more, so always carry coins!
- Use your credit card as less as possible! The foreign transaction fee (or international transaction fees) costs 3% of the value of what you’re paying and you pay it for EACH TIME YOU USE your credit card – in the end: it is very expensive using the credit card, so: avoid it! Reserve it only for more expensive things such as hotel payment, plane tickets (if necessary) or unforeseen circumstances! NOTE: check the rates with your bank and ask them for the fees; some of them can offer you a different card so you can pay fewer fees when you’re abroad.
- So, let’s be honest: Italy is not a cheap country! So I suggest you to calculate EUR 100.00 per day. Better left than missing!
- See the post: How much will I spend on a trip to Italy?
- Also, check with your bank if they have an international branch in the city where you are going to, or near it! Usually international banks have branches in Rome and Milan, so – if possible – you can exchange Dollars for Euros there, for example! (Before your trip, ask your bank about the fees and exchange rates they will charge you to avoid any unpleasant surprises! And make sure that your credits cards will work out of your home country!)
Watch this video and learn: What is the average cost of a day in Italy?
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How much money should I take to Italy? Do all the calculations, get organized and have a nice trip! Make a detailed plan, in our blog you will find more than 700 posts that will make all the difference in this phase.
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