Good to know
Good to Know
- Milan is highly card-friendly, especially compared to rural Italy. Most establishments in the city center accept Visa/Mastercard contactless payment.
- Always withdraw in euros at ATMs; decline any offer to be charged in your home currency (Dynamic Currency Conversion), as the exchange rate is unfavorable.
- Bank-operated ATMs (bancomat) generally offer better rates and lower fees than standalone airport or tourist kiosks; look for them outside banks in the city center.
- Small cash reserves (€50–100) are recommended for street food, markets, and tipping, though not strictly necessary for a city stay.
- Tipping is optional in Milan restaurants. If the bill shows 'coperto', service is already included. For exceptional service, 5–10% is appreciated but not expected.
- Contactless cards are widely accepted; the €50 limit per transaction without PIN is standard, and amounts above €50 require PIN entry.
- Public transport ticket machines at major stops accept cards (Visa/Mastercard), though bus drivers typically sell tickets for cash only.
Account Types
Resident Account (Conto Corrente per Residenti)
- Services
- Full banking services including loans, credit cards, mortgages
- Eligibility
- Full-time residents of Italy
Non-Resident Account (Conto Corrente Non Residenti)
- Services
- Limited services; allows receiving and transferring funds
- Eligibility
- Foreigners not registered as Italian residents
Major Banks Serving Foreigners
UniCredit
- Account Option
- My Genius Current Account (€4/month) or Conto di Base
- Notes
- Widespread branches, English support, non-resident accounts available
Intesa Sanpaolo
- Notes
- Digital Youth & Expats account with remote start option, 48-hour activation
Revolut
- Notes
- Digital bank, EU bank details, no residency requirement, Lithuanian IBAN
Wise
- Notes
- International transfers, low fees, European IBAN
HYPE
- Notes
- Allows access for non-residents with Italian IBAN
ATM Fees
- Typical Fee Range
- €5.00
- Fee Note
- ATM fees in Italy typically range up to €5 per withdrawal, charged by either the local ATM operator or your home bank (often both).
Withdrawal Limits
- Daily Limit
- Depends on your home bank
- Per Transaction
- €250–€1000 (varies by ATM)
How To Minimize Fees
- Use bank-operated ATMs (bancomat) rather than standalone machines at airports or tourist areas
- Use BNL (Banca Nazionale del Lavoro) ATMs if your home bank participates in the Global ATM Alliance (fee-free)
- Use Italian Post Office ATMs (Postamat) for reliable, low-cost withdrawals
- Withdraw larger amounts less frequently to reduce total fees
- Avoid Euronet ATMs (higher fees)
- Decline Dynamic Currency Conversion (DCC) offers—always choose to pay in euros
Cash Usage
- Necessity
- Optional but useful
- Recommended Amount
- €50–100 for typical city stay
- Note
- Milan is increasingly card-friendly; it is possible to get by with minimal or no cash if relying on cards and ATM withdrawals.
Key Uses
- Small purchases (coffee, gelato, street food)
- Tipping
- Local markets and vendors
- Parking meters
- City tourist tax at some hotels
Tipping Norms
- Taxis
- Round up or €1–2 appreciated; not mandatory
- Hotels
- €1–2 for housekeeping per night, left in cash
- Bars And Cafes
- Small change or €0.50–€1 is appreciated for good service; not mandatory
- Cash Preference
- Cash tips are preferred as they go directly to staff, but cards are increasingly accepted for larger tips
- General Practice
- Optional and not mandatory
Restaurants
- Typical Tip
- €1–2 for small meals; 5–10% for fine dining if service was exceptional
- Service Charge
- Check bill for 'coperto' (cover/service charge) — if present, service is already included. If not, tipping is appreciated but optional.
Card Acceptance
- Contactless
- Widely available. Contactless limit is €50 per transaction without PIN; above €50 requires PIN entry.
Major Cards
Discover
- Details
- Discover is rarely accepted in Italy, including Milan.
- Acceptance
- Rarely accepted
Visa Mastercard
- Details
- Visa and Mastercard are accepted at major retailers, restaurants, hotels, and most urban establishments in Milan. Contactless payment is increasingly common.
- Acceptance
- Widely accepted
American Express
- Details
- American Express is accepted at some hotels and major establishments but less widely than Visa/Mastercard. Not recommended as primary card.
- Acceptance
- Limited
Where Cards Work
- Hotels and accommodations (100% acceptance, card required for pre-authorization)
- Major restaurants and tourist-area restaurants (90%+ acceptance)
- Supermarkets and chain retailers
- Museums and major cultural sites
- Train tickets and public transport ticket machines (at major stops)
Where Cash Preferred
- Small cafes and bars (especially for amounts under €5)
- Street vendors and market stalls
- Traditional small groceries and local shops
- Some taxis
- Public transport (buses and trams may require cash for driver purchases)
Deposit Note
Typical range €100–€500; this stays in your account, not a fee
Process Steps
Process Steps
- Obtain Italian Tax Code (Codice Fiscale)
- Book appointment at bank (walk-ins rarely accepted in major cities like Milan)
- Prepare documents: passport, proof of address, tax code, income documentation
- In-person meeting with account manager (30–90 minutes depending on complexity)
- Sign contract and make first deposit
- Activation: 30 minutes to several hours depending on bank
- Debit card delivery within 15 days
Remote Opening
Digital banks allow remote account opening with biometric verification; traditional banks typically require in-person visit for non-residents
Setup Timeline
- Digital Banks
- Instant to 48 hours
- Traditional Banks Residents
- Up to 15 days
- Traditional Banks Non Residents
- 5–15 working days in-person
Language Access
English support is increasing but limited; not all branches offer English-speaking staff
Minimum Deposit
- Minimum Deposit
- €100
Key Requirements
Key Requirements
- Italian Tax Code (Codice Fiscale) — mandatory for all accounts
- Valid passport or EU ID
- Italian phone number (required by most digital banks)
- Proof of address (Italy or home country, depending on bank)
- Age 18+
- Permesso di Soggiorno (residence permit) for non-EU citizens
Codice Fiscale Setup
- Cost
- Free
- How To Obtain
- Apply to Italian consulate before arrival or at local tax office (Agenzia delle Entrate) in Italy
- Description
- Essential first step; required for all banking and legal transactions
AI-generated estimateData refreshed July 2026
Sources cited for this category
These are the sources cited in this money & payments research for this city. Individual figures may not each trace to one of them.
- 1.yesmilano.it
- 2.monito.com
- 3.wise.com
- 4.milanescape.com
- 5.italyplanner.ai
- 6.live-exchange-rates.com
- 7.tradingeconomics.com
- 8.esim.holafly.com
- 9.globalcitizensolutions.com
- 10.yesmilano.it
- 11.studiolegalemetta.com
- 12.idealista.it
- 13.valenteit.com
- 14.arlettipartners.com
- 15.monito.com
- 16.italiatut.com
- 17.waitaly.net
- 18.phoenixrelocationgroup.com
- 19.expertsforexpats.com
- 20.allianzcare.com
- 21.internationalinsurance.com
- 22.pacificprime.com
- 23.expatarrivals.com
- 24.mobidoctor.eu
- 25.expatarrivals.com
- 26.brokerfish.com
- 27.internationalinsurance.com
More About Milan
Data last updated July 2026 · Verify anything important.