A word of advice to Vatican visitors: bring cash.
Earlier this week, Italian authorities banned
electronic payments – including credit and debit cards – as well as most ATM
withdrawals in the tiny city-state.
to news reports, the Italian central bank, Banca d’Italia, suspended electronic payments at the start of January
because the Holy See has not yet complied with European Union (EU) regulations to
combat money laundering. As such, Italian banks, including the Vatican’s main operator,
Deutsche Bank’s Italian unit, are not authorized to transact in Vatican City.
The move has left thousands of Vatican visitors and
pilgrims scrambling to find alternate ways to pay for popular sites, including Vatican Museums, as
well as souvenirs, gifts and meals. Besides investments and donations,
memorabilia and ticket sales are the main source of revenue for the city-state;
museums and shops in Vatican City typically enjoy yearly sales of more than 76.6
million euros, and Vatican museums accounted for another 91 million euros in
sales in 2011, according to the Holy See.
In recent years the Vatican has come
under scrutiny for tax evasion and money laundering , prompting the inquiry
that resulted in this ban. The privately-held Vatican bank, Institute for Works of Religion (IOR),
located inside Vatican City, has been at the centre of several
financial scandals in recent years, and has been under investigation since
2010 for allegedly omitting data in wire transfers from an Italian account.
As a result of the investigation, Italian authorities
have pressured the city-state to enforce EU financial regulations and boost
transparency. EU officials have said the
Vatican is making progress, but until Vatican City is compliant with
European financial regulations, Italian authorities have instituted the
electronic payment ban.
Vatican authorities are working to lift the suspension
as soon as possible, but until they do, tourists, many of whom are travelling
with limited cash, are being left in the lurch. What options do travellers have
in light of the credit card ban?
• Purchase tickets online now. Tourists can buy tickets
for Vatican museums, including Pinacoteca Vaticana,
Pio-Clementino and Museo
Chiaramonti, online using a credit card until 15 January. Officials aren’t saying yet what happens after
that – if the ban is not lifted, they may extend the online ticket purchase
period or it may simply be that visitors have to pay in cash in person.
• Until further measures are taken to lift the ban,
cash is king in the Vatican. Bring cash, but for safety reasons, divide large
amounts of cash between family members and stow in safe areas, like money belts
and inside pockets.
• Though ATM withdrawals from most banks are
impossible under the current ban, cash withdrawals from machines operated by
the independent Vatican bank IOR are not affected. The Vatican operates three
IOR ATMs, the most convenient of which is located outside the main post office
in St Peter’s Square. Keep in mind instructions for all ATMs in Vatican City
are in Latin.
• Keep track of updates on the ban. Visitors can refer
to major news outlets, including Vatican News
and the Vatican
Information Service, for updates.