You should organize financial arrangements so that you will have enough money to cover living costs upon arrival.
As it can take at least two weeks to open an account and longer to process bank transfers, you are advised to make arrangements in order to have enough money to cover expenses the first weeks.
Transferring Funds, credit cards and travellers cheques
Please be aware that it is illegal in Italy to make cash payments exceeding €2.999.
Credit cards are widely accepted at many businesses and shops, with exception to government buildings and small retailers. Only some of the student residences accept credit card payment.
Travellers cheques are generally not accepted and are very expensive to exchange.
When obtaining your visa, Chinese students might be asked to enter Italy with a cheque for an indicated amount, which can cover their expenses in Italy. We have experienced that these students can have difficulties changing this cheque in Milan. The Bank of China has a Branch in Milan’s city centre. Obtaining your cheque from them, might be an easier option for exchanging it in Milan.