Should I exchange money before I travel to Europe? (2024)

Going to Europe? You’ll need to get your spending sorted.

If you plan to spend in cash, the big question is - should you exchange money before traveling to Europe, or when you arrive?

To help you decide, we’ll give you some useful information on euros, currency exchange and cash alternatives below.

And if you’d prefer to travel cash-free, check out the Wise card for low-cost spending across Europe.

Should you bring cash when traveling to Europe?

Before you start looking into your options for exchanging money, it’s worth thinking about whether cash is actually the best choice for spending in Europe.

If you prefer dealing in cash, then by all means get some euros out before your trip. But there are alternatives available, such as debit and credit cards.

Visa and Mastercard are widely accepted in most European cities. American Express is too, but perhaps less widely.

Paying by card can be easier and more convenient. You don’t need to worry about changing money at a foreign exchange counter, or worry about security when carrying cash around with you.

The only thing to check is whether your card provider charges any fees for spending abroad.

Should I exchange money before I travel to Europe? (2)

Safe, convenient and low-cost travel spending in Europe with the Wise card

Cash can be a hassle, whether it’s the inconvenience of converting currency or the safety risks of carrying it around.

So it could be a better idea to use a travel card instead. The Wise card is a great alternative to cover your needs when traveling to Europe. It’s contactless and works in 150+ countries, including the UK and across the EU.

Order your Wise card for a one-time fee of $9 and you’ll get:

  • Your dollars automatically converted to EUR at the mid-market exchange rate whenever you spend. There’s just a small conversion fee, or there’s no charge if you already have the currency in your Wise Account.
  • Fee-free foreign ATM withdrawals up to $100 a month (ATM operators may charge their own fee).
  • A Wise Account which lets you send money to and from Europe for low, transparent fees
  • EUR bank details, so you can receive euro payments for free while in the US.

Wise is a money service business, offering a multi-currency account, international money transfer services and a debit card.

Get a Wise Account today

Please see Terms of Use for your region or visit : Only Pay for What You Use for the most up-to-date pricing and fee information.

So, should you exchange money before traveling to Europe?

If you’d like to get some EUR ready for your trip, it could be an idea to buy your travel money in advance - before you fly.

This is because you have more time to compare commission fees and exchange rates. You could even be super organized and set a rate alert, so you can buy at the very best time.

You’ll have the choice of the whole market, made up of lots of different foreign exchange providers. With time at your disposal, you’ll be able to see exactly what the fee and rate is, and how many euros you’ll get for your dollars.

It’s possible of course that you might get a better deal when you land in Europe. It may well be the case that fees are lower and exchange rates better. But this leaves you with uncertainty, which is never good when you’re dealing with money.

You’ll also have to spend the first few hours or days of your trip trying to find the best place to exchange money. This is dead time when you could be out sightseeing.

Why you should avoid exchanging money at the airport or your hotel

If you do want to wait until you arrive in Europe to get your euros, a word of caution. It’s not usually a good idea to exchange currency at the airport, or even at your hotel.

These places are definitely convenient, but you’re likely to pay a premium for it. Commission fees can be high and exchange rates unfavorable. So, it’s worth avoiding it unless you’re really stuck.

Bottom line

It’s completely up to you whether you exchange money before you travel to Europe, or get your euros when you arrive. The only thing to bear in mind is that you have more control and more choice if you do it in advance.

Or for a hassle-free option, why not take the Wise card with you on your trip? No cash required, although you can use it for ATM withdrawals if you need to.

Learn more about Wise

Frequently asked questions

How much cash should I take for Europe?

It all depends on where you’re going and what you plan to do during your trip. Some European cities are cheaper than others.

As a general rule though, it’s a good idea to budget at least $100 a day for your vacation. This is just spending money, as hotel costs are likely to have been either paid in advance or settled by card when you check out.

You should budget for food and drink, travel (including the cost of airport transfers) and entry fees for any attractions you want to visit.

How much cash do I need to bring to a 3-week trip in Europe?

If you’re flying to Europe all the way from the US, it’s unlikely that you’ll be staying just a couple of nights. If you’re planning a 3-week break, a good starting point to calculate how much spending money you need is the $100-per-day rule of thumb.

So for a three-week trip, you’ll be needing over $2,000. But it really does depend on where you’re traveling to and what you plan to do, eat and drink while you’re there.

How much cash can I take on a trip to Europe?

You might be focused on how much money you actually need to cover your spending on a European vacation.

But there’s another factor to consider - how much cash you’re actually allowed to take out of the US and into Europe.

You can legally take up to $10,000 out of the US without having to declare it.¹ Similarly, you can bring up to €10,000 into the EU without notifying customs authorities.²

If you need to take anywhere near this much cash with you, security will be a concern. A card could be a safer bet.

If you need this much money because you’re staying in Europe for a while, you might want to consider opening a European bank account instead.

Sources used for this article:

  1. U.S. Customs and Borders Protection - How much currency/monetary instruments can I bring into the United States?
  2. Eurostar - Customs Information

Sources checked on 15-Aug-2023.

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

Should I exchange money before I travel to Europe? (2024)

FAQs

Should I exchange money before I travel to Europe? ›

Avoid (or at least minimize) cash exchange.

Should you convert money before going to Europe? ›

While it's not strictly necessary to exchange money for euros before traveling to Europe, it's generally recommended to have some euros on hand for your trip.

Why is it important to think about exchanging your money before you travel? ›

Because of high currency exchange fees, you should exchange currency before traveling and know where to go to save on the fees once you are abroad. Read the tips below so you can exchange your money at the best rates while saving money on your international trip.

Should you convert US dollars to euros? ›

It's generally a good idea to exchange currencies before traveling to ensure that you have some money available when landing in a different country.

Is it worth bringing cash to Europe? ›

If you prefer dealing in cash, then by all means get some euros out before your trip. But actually, you'll find that debit and credit cards are widely accepted in most European cities. Paying by card can be easier and more convenient, without the potential security risk of carrying cash around you.

Is $100 a day enough for Europe? ›

If you budget $100 per day, you can visit most places in Western Europe. Of course, it's easy to spend more in the major cities. If you know what to look for, you can still have an affordable trip to some of the most iconic destinations in the world! Again, this is all about how you like to travel.

Is it better to get euros in US bank or in Europe? ›

Is it better to exchange U.S. dollars to euros while still in the U.S. or when I actually go to Europe? I always recommend to my clients that they exchange dollars into euros while in Europe. Use the ATM machines, found nearly everywhere. The exchange rate will be less than going to a bank or exchange service.

What is the best way to pay for things in Europe? ›

Should You Use Cash or Credit When Traveling to Europe? Most international travelers will end up using a combination of cash and cards when visiting Europe. While credit cards are accepted in most situations, currency can be more convenient for public transportation and small vendors.

How much cash should I take to Europe? ›

Consider carrying between $50 and $100 a day on average, but remember that cash can bring fees and thieves along with it. Payment cards often have lower fees and are far easier to carry with you while travelling.

Is it better to exchange money before travelling? ›

It's not always better to exchange before you fly

In many countries, you're likely to get more for your home currency once you arrive – just make sure you avoid airports and unreliable vendors and choose somewhere trustworthy, such as a bank.

How much is $100 US in euros? ›

US Dollars to Euros: exchange rates today
USDEUR
100 USD91.87 EUR
250 USD229.68 EUR
300 USD275.62 EUR
500 USD459.37 EUR
8 more rows

What is the cheapest way to convert USD to euros? ›

Exchange at your bank before your trip: Exchanging currency at your local bank is likely the most cost-effective way to convert currency.

What is the cheapest way to convert dollars to euros? ›

The best place to exchange foreign currency in the U.S. is at your local bank or credit union before you leave for your trip.

How much cash should I bring on a 2 week trip to Europe? ›

The amount of money you should bring on a trip to Europe for two weeks can vary depending on your travel style and destination. However, a general rule of thumb is to budget around $100-150 per day for transportation, accommodation, food, and activities.

Should I use cash or card in Europe? ›

Because merchants pay commissions to credit-card companies, small European businesses (B&Bs, mom-and-pop cafés, gift shops, and more) often prefer that you pay in cash. Vendors might offer you a discount for paying with cash, or they might not accept credit cards at all.

How much euro should I bring to Europe for 2 weeks? ›

Here is an overview of what two weeks in Europe on a high budget may look like: Accommodation: 200 Euros per night for 14 nights = 2,800 Euros. Food: 80 Euros per day for 14 days = 1,120 Euros. Transportation: 30 Euros per day for 14 days = 420 Euros.

Is it better to exchange money before you travel? ›

Before your trip, it's best to exchange money at your bank or credit union, which likely offers better rates and fewer and/or lower fees. Your bank or credit union may buy back leftover foreign currency in exchange for dollars when you return.

Should you exchange money before traveling internationally? ›

Ordering currency from your bank before you travel is almost always better than using the airport currency exchange. Sally French is a travel rewards expert who joined NerdWallet in 2020. She previously wrote about travel and credit cards for The New York Times and its sibling site, Wirecutter.

Is it better to exchange money or use ATM in Europe? ›

This is because ATMs in Europe typically offer better exchange rates than exchanging foreign cash in your home country, and also because withdrawing cash from an ATM is usually more convenient than carrying around a large amount of foreign currency.

Where is the best place to exchange currency before going to Europe? ›

Head to your bank or credit union before you leave to avoid paying ATM transaction costs. You may even receive a better exchange rate. Credit unions and banks will exchange your dollars into a foreign currency before and after your trip when you have a checking or savings account with them.

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