Money Matters

Tips for getting the most bang for your buck in Europe. At least we don't have to worry about Traveler's Checks anymore!

• Credit Cards

  Determine if your credit cards charge foreign transaction fees. Plan to use the card that charges the lowest. Call your bank or use their app to let them know what countries you will be going to and when.

  
  

• Say NO to DCC

  Dynamic Currency Conversion will give you a worse rate. If the ATM or Credit Card receipt asks if you want to pay in USD or local currency, always choose local currency.

• Currency Exchange

  If you do exchange USD for Euro at a currency exchange, ensure they don't charge a fee and confirm the rate prior to the transaction. You will need to show your passport. Avoid airports where exchange rates will not be in your favor.

  
  

• ATMs

  An ATM may be the easiest way to get the best rate at your location. Look for an ATM that is operated by a bank, not an independent one. Know your daily withdrawal limits.

  
  

• Exchange before you leave home

  Many people (myself included) like the peace of mind to have currency of the destination before the trip. However, experts advise against this as most banks charge a fee and may not give you the best exchange rate.

• Bring a back up!

  Have a variety of options. (Credit cards, debit card, cash, etc.) Many places in Europe, similar to the US, are moving away from cash. Small coins and bills are helpful when buying small souvenirs or paying to use a restroom. Some stores aren't able to make change from large bills.

• Calculator App

  If you have an I-Phone, you can easily convert back and forth between Euro and USD. From the calculator app, select the calculator icon in the lower left corner and toggle to Convert. Here you can select USD and EUR.

  
  

• Tipping

  Tipping in Europe is typically much less than in the US.

  • Restaurant - Round up to about 5%

  • Taxis - 1 or 2 Euro per person, more if you have a lot of luggage

  • Hotel - 1 Euro per bag and small tip for housekeeping is appreciated

  • Tours/Excursions - 2-5 Euro per person for larger groups, a little more if it is a smaller group or private tour