Europe is one of the favorite places in the world to travel and thanks to the universal adoption of a single currency it is never been easier to travel.
If you are planning your trip to Europe, Make sure you get some spending money before you begin packing. In Australia, you might use your debit or credit card for everything, but in other regions of Europe, cash is still the primary form of payment.
When converting your money into Euros, consider these five currency conversion tips:
1-Cash is the king
In terms of cashless payments, Australians are one the leaders of the world. Just consider how often you go shopping or to a restaurant using only your debit or credit card. However, in Europe, cash is always preferred.
A 2022 German payment report states that 58% of consumers still make purchases with cash. Many eateries, sights, shops, and services don’t take anything but cash when you travel. Thus, it’s a good idea to carry euros around at all times to prevent unpleasant surprises.
Cash can also act as a safety net in the unlikely case that your card becomes lost, stolen, or isn’t accepted in the first place. Having cash on hand in such circumstances can offer priceless piece of mind.
2-Europe is not always the same as Euro
Before you exchange your money, make sure you check the currency of each country you are visiting. It’s best to steer clear of unpleasant surprises and incorrect currency exchange.
For instance, did you know that nine EU member states do not adopt the Euro as their official currency? Bulgaria, Croatia, Denmark, Hungary, Poland, Romania, Sweden, and the United Kingdom are the nations in question.
Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain are the 19 nations that use the Euro, according to the European Union.
3-take smaller note
The euro banknotes that are legal tender throughout the euro area comprise the following denominations: €5, €10, €20, €50, €100, €200 and €500. €500 banknote has no longer been issued since 2019 but they are still legal tender. We recommend not to take 500 notes with yourself if you are going to holiday.
Unless you try to pay for a €3.50 cappuccino with €100, merchants will rarely refuse large denominations (€100 or under). Before your departure, you can head to a currency exchange office to get an assortment of bills of €5, €10, €20, €50 or €100.
4-Don’t keep the coins
Banks and exchange offices don’t always take change once you leave Europe. Use all of your coins to purchase a souvenir or a snack before you depart. Alternatively, you could save the remaining travel funds for your next vacation.
5- Be Aware of Charges and Fees
Currency exchange services usually advertise attractive rates, but they may have hidden costs that you are unaware of. These could be commission costs, transaction fees, or service fees. These additional costs can quickly mount up and deplete your available funds.
Because of this, it’s critical to consider these possible expenses when selecting a currency exchange provider. Here, transparency is crucial. There won’t be any unpleasant surprises because a trustworthy service will be honest about any related expenses.
Here’s where SnapMoney really excels. We take pride in our “no fees” policy. We are committed to providing you with the best rates, so there won’t be any unexpected or hidden fees.
When you exchange your AUD to Euros or any other of the 30+ currencies we offer, you know exactly what you’re getting. Try using our Currency Calculator to calculate exactly how much it will be.
With our Place order, you can plan your currency exchange in advance. Select from our wide range of over 30+ currencies and ensure that your currency needs are sorted before your trip even begins.
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