Currency Exchange Tips

An important aspect is your security – when it comes to cash, the risk of crime is increased. Choose authorized exchange offices or reputable institutions such as banks. Even in hotels or at the airport the change is possible without danger, but then mostly in connection with higher fees. But not every hotel offers the possibility.

Since the fraud rate in some countries is very high, you should never exchange the entire travel budget at once. It is better to divide it between several exchange offices. If you fall victim to a fraud in spite of all caution, with this method the complete money is not lost after all.

Furthermore, the exchange of money on the street is not only illegal in many countries, but also associated with dangers. You should always refuse this and prefer an authorized institution. And also there applies: Caution is better than indulgence. Let us show you in advance how much money you will get for your stated value and only then put the Euros on the table. Once you’ve disappeared over the counter, you probably won’t get them back.

Tip: Any money left over should also be exchanged at the destination. As with importing cash, you may be surprised by strict export regulations. This is the best opportunity to quickly treat yourself to a souvenir or get one or two bargains in duty-free.

Further tips

Whether in Germany or at your holiday destination: sometimes you don’t have to change money at one place or the other. Alternatively, you can simply withdraw money with your credit card or bank card in the destination country. Depending on your bank, this may even be free of charge. We have summarized the most important tips for you:

Currency exchange

If you have a choice at the machine, make sure that you settle in the foreign currency and do not carry out a currency exchange. Surcharges of up to ten percent are not uncommon when billing in euros! Even if you tend to choose the currency you know, you will still get a lower rate in this case.

Withdraw money

In contrast to exchanging money in exchange offices, you should withdraw money less often and get higher amounts instead. This will save you any fees per transaction. You don’t have to carry the cash around with you all the time, you can deposit it safely in the hotel safe.

However, you should pay special attention to a few things when withdrawing money. In dark alleys or dubious areas you’ll be reluctant to withdraw money in Germany. In the destination country this aspect becomes even more important. Pickpockets are often lurking in tourist areas. Which is also self-evident: Withdraw money only if no one is watching you or could see your secret number.

Credit card

Another alternative is to pay by credit card abroad. This is sometimes even mandatory: some car rental companies insist on depositing the money, and some even insist on paying by credit card. Even if you have enough cash with you, sometimes you can’t get around the card.

Don’t you have a credit card yet? Then compare in advance on the Internet, which is inexpensive or even free of charge and abroad with few fees. Sometimes you can also get a free credit card directly from your house bank in addition to your current account. Ask if and to what extent there are any costs for the assignment abroad! By the way: VISA cards are most likely to be accepted in general.

In many countries of the world you can pay almost everywhere by credit card and are not dependent on cash. This includes Europe, Australia, North America and some Asian countries. With a credit card on holiday, you are independent of the opening hours of banks and exchange offices and only have to make sure that you find a suitable machine in the vicinity of your hotel. Read more at for more details.

It’s the mix that does it!

Are you confused as to which option is the best for changing money on holiday? Then rely on the proven mix that many experts recommend: A small part of the travel budget is exchanged in advance in Germany for the destination currency in order to be provided for taxi rides, among other things. Another part can be changed on the spot at an exchange office or bank. You should also bring your EC or credit card with you – if you run out of cash or the fees at the ATM are lower than those at the exchange office, it will benefit you.

As an exception to this rule of thumb, you should only see countries with poor ATM supplies. Here it’s worth calculating in advance exactly how much cash is needed on holiday – and to exchange it in Germany.

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