Currency Exchange in Europe: A Handy Guide

• Written by Farina Khan

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European trip planning is exciting and yet daunting because of the currency exchange in Europe. If you’re planning a trip to Europe and clueless about the currency exchange in Europe, believe us you’re not alone. Many travellers get cold feet when it comes to planning a trip abroad or exchanging currency in a foreign land. Without a doubt, a quick guide will definitely help!

In this blog, we will be providing you with a handy guide to currency exchange in Europe to make your journey even more exciting and smooth. So, stay tuned!

How to go with Currency Exchange in Europe? 

As you jet off, one of the important aspects often overlooked is currency exchange in Europe. While the Euro is the primary currency that is officially accepted in most European countries, several countries like Hungary, UK have their own currencies. And to avoid last minute hassles and to ensure smooth transactions, it is really important to know the best way for currency exchange in Europe.

Top Places for Currency Exchange in Europe

Experts always recommend carrying some amount of local currency of the destination country you are travelling to. However, if you still want to go for currency exchange in Europe, here we have compiled a list of some top places:

Exchange at Your Bank

If you have a bank account in an international bank and you are looking for the best possible way to exchange currency for Europe, head to the nearest branch of your bank. Most of the banks provide foreign currency exchange in Europe to their customers at very minimal fees or at no fees. So you may get the transaction fees fully waived off, if you are a high-net-worth customer of the bank.

Debit Card

Debit cards are another possible way to exchange currency for Europe. You just need to carry your international card and you can withdraw the desired amount using debit cards in Europe. The foreign transaction fees may vary from bank to bank. But be sure to inform your bank in advance to unblock international transactions, if travelling for the first time. It is a good idea to find a partnered ATM to withdraw local currency using debit cards in Europe.

Credit Card

Another amazing currency exchange tip for Europe is to withdraw cash using credit cards in Europe. ATMs are widely available throughout Europe and often provide better exchange rates in comparison to currency exchange counters. There are a lot of credit cards that offer 0% foreign transaction fees or maximum up to 3%. Be sure to ask your provider to provide you with a chip and PIN to withdraw local currency using credit cards in Europe.

Currency Exchange Counters

Another fantastic way to exchange currency for Europe is to go for currency exchange counters. These counters are often located in busy and tourist areas like airports, train stations, tram stops, and city centers. These counters offer an ideal choice for currency exchange in Europe. However, they may not offer much favourable foreign exchange rates. You may go for currency exchange in Europe from these counters, if you are in a hurry.

Airports

As soon as you land in Europe, the best reachable way to exchange currency for Europe is airports. If you need some urgent money or you want local currency at ease and convenience, airports offer an ideal choice. But, remember that the foreign exchange rates and their service fees may be at a higher side. So, if you already have some amount of local currency, try to search for some other place for currency exchange in Europe.

Online Currency Exchange Services

This is another best way to exchange currency for Europe at ease and doorstep. There are several online currency exchange services that offer competitive foreign exchange rates with doorstep services. This way of currency exchange in Europe is one of the most preferable choices by the travellers and explorers. But, be sure to check the authenticity of online services to avoid any kind of scams during currency exchange in Europe.

Ideal Practices for Currency Exchange in Europe

Here are some of the ideal practices you should follow before going for currency exchange in Europe:

• Always keep an eye on currency exchange rates.
• Be sure to use the trusted apps and authentic websites for currency exchange in Europe.
• Try to avoid dynamic currency conversion during currency exchange in Europe.
• Always opt for the local currency to avoid the hidden fees.
• Try to carry some amount of cash to avoid any extra charges.

Best Ways to Carry Fund: Cash or Card in Europe?

Worried about what to carry - cash or card in Europe? Well, with the digitisation of the world, most of the travellers prefer forex, debit, and credit cards for better exchange rates and to avoid last minute currency exchange in Europe. Here are some ways to carry money to the Europe:

• To avoid cross-currency fees and to lock exchange rates, carry multi currency travel cards.
• To withdraw easy cash in local currency, consider using debits cards in Europe.
• You can also withdraw money using credit cards in Europe, but may not be accepted widely.
• Consider carrying some amount of cash as well to avoid last minute hassles for currency exchange in Europe.

Cash and Currency Tips for Europe

Here are some important and considerable cash and currency tips for Europe:

• Be sure to carry some amount of local currency before flying off.
• Never consider airports for currency exchange in Europe. You will end up paying almost double.
• For currency exchange in Europe, look for the places that don’t charge a commission.
• Always compare the foreign transaction rates and service charges.
• Be sure that the difference between the buy and sell rates should be 10% only.
• There are post offices in some countries where you can go for currency exchange in Europe.
• Avoid spending Euros in non-Euro zone countries.
• Be sure to withdraw cash using credit cards in Europe only during emergencies.
• Always plan your cash withdrawals wisely.
• If you are a frequent traveller, go for a multicurrency account.
• Consider travelling with a travel cover.

Travel Cover for a Hassle-Free Europe Trip Planning 

In European trip planning, it is not just your money that needs protection, but your health and safety are equally important. To ensure a secured trip, consider buying travel insurance for Europe from Care Health Insurance. Known as Explore,this comprehensive trip insurance plan offers coverage for unexpected medical emergencies, trip cancellations, loss of baggage, and more, ensuring you are financially secure while travelling to Europe. Choose Explore for a hassle-free and a secure journey. Bon Voyage!

>> Also Read: How Does Baggage Insurance Work?

Disclaimer: All plan features, benefits, coverage, and claims underwriting are subject to policy terms and conditions. Kindly refer to the brochure, sales prospectus, and policy documents carefully.