Milan, a bustling metropolis in Italy, is not only a fashion capital but also a hub for art, culture, and history. If you’re planning a trip to this vibrant city, one of the practical concerns you’ll face is currency exchange. Knowing where and how to change your money can save you time and money, allowing you to enjoy your trip without unnecessary hassle. Here’s a guide to help you navigate currency exchange in Milan efficiently.
Banks and ATMs
One of the most reliable places to exchange currency in Milan is at a bank. Banks typically offer competitive exchange rates and are a safe option for tourists. Major banks like UniCredit, Intesa Sanpaolo, and Banca Popolare di Milano have branches throughout the city. They usually operate from 8:30 AM to 1:30 PM and then from 2:30 PM to 4:00 PM on weekdays. However, keep in mind that banks are closed on weekends and public holidays.
ATMs are another convenient option for currency exchange. They are widely available across Milan and offer the advantage of withdrawing cash in euros directly from your home bank account. This method often provides better exchange rates than currency exchange offices. Before using an ATM, check with your bank about any international withdrawal fees. Also, ensure your card is enabled for international transactions.
Currency Exchange Offices
Currency exchange offices are scattered throughout Milan, especially in tourist-heavy areas like the city center, near the Duomo, and at major train stations. These offices are convenient and usually open longer hours than banks, including weekends. However, they may charge higher fees or offer less favorable exchange rates compared to banks and ATMs.
When using a currency exchange office, always ask about the exchange rate and any additional fees before proceeding with the transaction. Some offices may advertise “no commission” but offer a less favorable rate, so it’s essential to compare a few places if possible. Popular exchange offices include Forexchange and Best and Fast Change, both known for their transparent services.
Airport and Hotel Exchanges
While exchanging currency at Milan’s airports—Malpensa and Linate—might seem convenient, it’s generally not the most cost-effective option. Airport exchange counters often have higher fees and less favorable rates due to the convenience factor. If you must exchange money at the airport, do so only for a small amount to cover immediate expenses like transportation to your hotel.
Hotels in Milan may also offer currency exchange services, but similar to airports, they tend to have higher fees and less competitive rates. It’s advisable to use hotel exchange services only as a last resort or for small amounts. Instead, plan to visit a bank or use an ATM once you’re settled in the city.