Travel Tips for Foreign Currency + Euros - Skip high fees in Europe

For as long as I know I’ve been travelling for work and pleasure around different parts of Europe and beyond. For me exchanging Foreign currency and finding the best deal is part of my planning. However recently I have discovered new ways to keep the fees to an absolute minimum.

I´m sharing my travel tips for travelling to destinations that don´t use your regular currency. Hopefully it helps you save on your next trip too!

For travelling almost anywhere with a different currency to your own, here are my strong recommendations.

Managing your Money in Europe

Recently I travelled to Prague, Czech Republic (Czechia) even though I have accounts in Pounds Sterling and Euros. For this specific trip, I needed to find alternative as the local currency there is Czech Koruna (CZK). So I looked into different possibilities to see how I could keep the comissions for the exchange to a minimum.

My top currency tips:

1) Get a multi currency account with wise this is the single thing that most reduced commissions on my recent trips to UK and Prague.

2) Then open part of your account with that currency before you travel. For me that was Czech currency. But for you it might be British pounds, Euros for Italy or Spain for example.

Then estimate the amount you would need for the food, transport etc in the country. (Add a bit extra for incidentals and emergencies) Then put the relevant amount into the balance.

So you can pay from your Wise card all the Hotel accommodation, Meals, Activities and Shopping in local currency. (at the end of the month you even get a cash back payment!)

3) Another good idea is when you arrive to the country, withdraw a small amount of cash. An amount such as $200 in local currency (depending on the length of your trip) for incidentals. Important: Do make sure to withdraw money from an ATM of an actual bank. Use this cash for tips, small items that card payment isnt possible and machines that need coins.

A Bank that operates in that country

in Spain Banco Sabadell, La Caixa or ServiCaixa and BBVA
in Italy Intesa Sanpaolo, Cassa Depositi e Prestiti and UniCredit
Deutsche Bank are German but have branches across Europe
SocGen or Societe Generale and Credit Agricole are important French Banks

4) DO AVOID any ATM that says Euronet or cashzone. This type of ATMs have extremely high commissions. Can be in the region of 13 – 20% !!!!

Usually these ATM´s are small and set into the side of shop, restaurant etc. Right at the centre of tourist areas or at stations or airports. If you are travelling for several weeks these commissions will make a dent in your holiday budget.

Foreign Currency Leftover coins holiday money by piccavey

5) Towards the end of your trip spend the cash in local currency pay the last items of your stay by card.

6) Remember when you paid by card to choose local currency. The card machine will usually ask Do you want to pay in USD or EUROS? Choose LOCAL CURRENCY always. Its much cheaper.

7) I find that it helps me to print out a small cheat sheet to pop in your wallet. So I can quickly scan the amount I am going to pay for something.

With 1 dollar, 5 dollars, 10 dollars, 50 dollars, 100 dollars etc.. in the currencies you are going to need.

8) Other things to consider to help with fees in Europe would be an eSim to keep data roaming fees low. Also recommendable is a good travel insurance in case of cancellations, delays, weather incidents or healthcare issues while travelling.