Cash And Currency Tips In Europe

Europe’s good for money right, with cash machines and the widespread use of one single currency, making it easier for people to get their money in the region. The days of having to head for the bank in your hometown in order to deal with travelers’ checks or foreign currency, of having to go through exchange bureaus at the borders or currency exchangers like Knightsbridge FX in order to make sure you have the right cash.

If you’re looking to travel to Europe, here’s some tips to make sure you get the most out of your money.

Don’t buy currency before going on your trip.

A few tourists, when they’re headed to another country, buy foreign currency before they even set foot on their destination. Sure, it’s being prepared, but in Europe, where airports are stuffed to the gills with ATMs for your withdrawal needs, it’s just wasteful. See, what you gain in convenience, you end up paying for, quite literally, with bad exchange rates.

Avoid traveler’s checks.

They’re not worth it. They have long lines at slow banks to get, so they waste time, and they have fees to get them and to convert them into cash, so you’ll end up losing what you might’ve had. Best to just head for currency exchanges like Knightsbridge FX with some cold hard cash.

Use local cash.

This one sort of goes without saying, but it bears saying anyway. Use the local currency. If you’re paying with dollars, what you don’t realize is that you lose money thanks to the store’s own currency exchange rate.Basically, if you buy something with dollars, you’re changing money at a bad rate. This also applies to the Euro, at least in certain countries like Switzerland, as they have their own currency that takes precedence over the Euro.

The credit card is a last resort.

On the off chance you lose your debit card, you can use your credit card to get yourself a cash advance at an ATM. But here’s the thing, you not only have to know your PIN, you’ll be charged a fairly hefty cash-advance fee, meaning you’ll lose some money if you resort to it.

Plan your withdrawals.

Again, this one should go without saying. Just as how you spend cash wisely, you should also withdraw wisely. If you’re looking to cross borders between countries with different currencies, best to have as little unused currency as possible, which is not only convenient, it’ll also help cut down on withdrawal fees.

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