The new currency consists of 7 bank notes: 5, 10, 20, 50, 100, 200 and 500 Euro (dollars).
The eight coins are 1, 2, 5, 10, 20 and 50 Euro cents plus a 1 Euro (dollar) and 2 Euro (dollars). The "heads" side of the coin will display a common European Community symbol. However, the "tails" side of the coin will have a design unique to each country in the union.
100 Euro Cents = 1 Euro Dollar
Note that commas and periods are reversed when differentiating between dollars and cents and the thousands.
For example € 3.100,50 would be expressed in the US as $ 3,100.50
intending to mean three thousand one hundred dollars and fifty cents.
ATM Machines / Banco Mat
updated August 2, 2009
Many ATM machines (Banco Mat) are available for retrieving funds in Euros. Most of them will have an English menu selection. Check with your bank to determine whether there are any fees involved. Usually the exchange rate will be more favorable than using an exchange (Cambio) in a train station or airport. The more common ATM networks that we use in the United States, such as Cirrus and Plus, are also widely accepted in Italy.
Note - many ATM's in Europe only accept a 4-digit PIN number. If your PIN is more than 4-digits, check with your bank to see if you can change it to 4-digits prior to your trip
Credit Cards
Credit cards are gaining acceptance in all parts of Italy. Most of your hotels, restaurants, upscale shops, etc. in the tourist areas will usually accept MasterCard and Visa, with American Express not too far behind. Discover and Diner's Club are not as readily accepted.
Keep in mind that cash is king for some merchants. Some gas stations, for example, will only accept cash. And some hotels will even add a surcharge (usually 3 - 4%) if you are using a credit card.
Links of Interest
Venere.com - hotels, hotel reservations, discount hotels in Italy and all over Europe.
Italy Rail Pass - the best way to get around Italy and Europe.