About prices and money in Rome
PRICES
Rome's prices are comparable to those in other major capitals, such as Paris and London.
A 2-km (1-mile) taxi ride in Rome costs around €8. An inexpensive hotel room for two, including breakfast, is about €120; an inexpensive dinner for two is €60 in average. A simple pasta item on the menu is about €8–€12, pizzas €6–€9, a ½-liter carafe of house wine is around €6, and a cappuccino at the bar can cost €1.20. A movie ticket is approximately €8.50.
Dining out can be expensive, especially if you order multiple courses. Most restaurants have an added service fee to pay for bread and water.
Food and drinks in Rome can be tricky. The main hotel areas in the city are jammed with places well located for tourists, with English menus out front. These places tend to be noticeably more expensive and less good than their more-local counterparts, so one of the tricks for saving money is to get away from the tourist districts and explore the local neighborhoods a bit.
Clothes and leather goods are generally less expensive in Rome than in northern Europe, but pricey compared to the U.S. Public transport is one of the few things in Rome that is relatively cheap.
The attractions in Rome are quite reasonable and many of them are actually free, so this isn’t a city that will cost a fortune every time you want to go see something. The few famous ones that do charge are well worth it anyway. Some attractions, most notably the Vatican Museum tour, have very long queues, and going early in the day is recommended. If you are in a hurry then you’ll probably want to look into theRome & Vatican Pass, which allows you to skip the long queues and comes with a bus tour as well.
Though most places accept credit cards, cash is still preferred. This holds especially true for street markets and small mom-and-pop stores and restaurants.
Prices throughout this post are given for adults. Substantially reduced fees are almost always available for children, students, and senior citizens when it comes to entrances to monuments and museums.
Banks never have every foreign currency on hand, and it may take as long as a week to order. If you're planning to exchange funds before leaving home, don't wait until the last minute.
ATMS AND BANKS
ATMs are common in Rome and are the easiest way to get euros. The word for ATM in Italian is bancomat, and codice segreto for PIN. Four-digit PINs are the standard, though in some machines longer numbers will work.
Your own bank will probably charge a fee for using ATMs abroad; the foreign bank you use may also charge a fee. Some banks, such as Citibank, which has a branch in Rome (near Via Veneto), don't charge extra fees to customers who use the Citibank ATM. Other banks may have similar agreements with Italian or foreign banks in Rome where customers won't get charged a transaction fee. Check with your bank to see if they have any agreements before your trip. Nevertheless, you'll usually get a better rate of exchange at an ATM than you will at a currency-exchange office or even when changing money in a bank. And extracting funds as you need them is a safer option than carrying around a large amount of cash.
PIN numbers with more than four digits are not recognized at ATMs in many countries. If yours has five or more, remember to change it before you leave.
Another important tip: Always carry change with you! In Italian, the word is spicci. Paying for a 1 euro supplì with a 50 euro note will draw you a lot of grief, and I have seen people turned away for not having small bills.
CREDIT CARDS
Credit cards are not as commonly used in Italy as they are in other countries, like the United States, for example.
Always inform your credit card company and bank that you'll be traveling or spending some time abroad, especially if don't travel internationally very often. Otherwise, the credit-card company or even your bank might put a hold on your card owing to unusual activity—not a good thing halfway through your trip. Record all your credit-card numbers—as well as phone numbers to call if your cards are lost or stolen—in a safe place, so you're prepared should something go wrong. Both MasterCard and Visa have general numbers you can call (collect, if you're abroad) in the event your card is lost, but you're better off calling the number of your issuing bank, since MasterCard and Visa usually just transfer you anyway; your bank's number is usually printed on your card.
If you plan to use your credit card for cash advances, you'll need to apply for a PIN at least two weeks before your trip. Although it's usually cheaper (and safer) to use a credit card abroad for large purchases (so you can cancel payments or be reimbursed if there's a problem), note that some credit-card companies and the banks that issue them add substantial percentages to all foreign transactions, whether they're in a foreign currency or not. Check on these fees before leaving home, so there won't be any surprises when you get the bill.
Although increasingly common, credit cards aren't accepted at all establishments, and some require a minimum expenditure. If you want to pay with a card in a small hotel, store, or restaurant, it's a good idea to ask before conducting your business. Visa and MasterCard are preferred to American Express, but in tourist areas American Express is usually accepted. Diners Club is rarely accepted.
Some credit card companies require that you obtain a police report if your credit card was lost or stolen. In this case, you should go to a police station, there is one for example at Termini train station and the Rome's central police station is on Via San Vitale 15.
REPORTING LOST CARDS
American Express. 06/72900347; 06/72282; www.americanexpress.com.
Diners Club. 800/393939; 02/32162656; www.dinersclub.com.
MasterCard. 636/7227111; 800/870866; www.mastercard.com.
Visa. 303/967–1096; 800/819-014; www.visaeu.com.
CURRENCY AND EXCHANGE
The euro is the main unit of currency in Italy, as well as in 12 other European countries. Under the euro system, there are eight coins: 1, 2, 5, 10, 20, and 50 centesimi (at 100 centesimi to the euro), and 1 and 2 euros.
There are seven notes: 5, 10, 20, 50, 100, 200, and 500 euros, although the 500 bills will slowly disappear at the end of 2018.
Even if a currency-exchange booth has a sign promising no commission, rest assured that there's some kind of huge, hidden fee. (Oh, that's right. The sign didn't say no fee.) And as for rates, you're almost always better off getting foreign currency at an ATM or exchanging money at a bank.
CURRENCY CONVERSION
Google. Google does currency conversion. Just type in the amount you want to convert and an explanation of how you want it converted (e.g., "14 Euro") and then voila.
XE.com is a good currency conversion website.
Recap: bringing with you a small amount of cash is always a good idea in Rome since many small businesses do not accept credit card.
