Should You Exchange Money Before Traveling to Europe?

2023 is here and I’m excited! 🍾 Let’s get it!

If you ever run out of cash, currency is your lifeblood. Your trip will be over in more ways than one if your wallet is empty so I get asked about currency exchange a lot.

Traveling to Europe is excellent right now that the U.S. dollar is so strong. Everything is cheaper!

Reminder: Europe is credit card friendly, so make sure your credit card doesn't have foreign transaction fees.

TLDR: Exchanging money before a trip is not necessary. Just use an ATM.

Preferred Choice: Find an ATM

ATMs offer the best exchange rate, are easily accessible and are the best places to get foreign cash so look for these first.

Things to Know When Using the ATM:

Tell your bank about your travel plans by calling them or notifying them online.
Check for foreign transaction fees! Some banks charge an extra 5 dollars for any cash withdrawals or purchases made with a debit card. Find a bank that waives these fees because fees suck.
Do Not Accept Automatic Cash Conversion! This is another trick that companies use to get you a less than desirable exchange rate. Don’t fall for it.
Avoid going to sketchy ATMs if possible. Personally, I like going to official bank ATMs, not the ones in the back of convenience stores or dark alleyways…some of these ATMs have card readers that steal your identity.

Do Not Use Exchange Services at the Airport

You are guaranteed to get the worst exchange rate in addition to any other fees. Better yet, don't use any exchange kiosks. Don’t do it bruh!

If You Insist on Having Cash Beforehand

It’s not necessary, but If you really want to feel comfortable, ask your bank for a monetary exchange beforehand. If you’re unfamiliar with your bank’s exchange program, do a Google search on your “bank’s name + currency exchange” ➡️ “PNC bank currency exchange.” Depending on your bank, you may not get the best exchange rate and/or may be hit with additional fees.

As scary as it sounds, most of the time you don’t need cash when you get off the plane. Ride-sharing services like Uber are usually available and if you’re taking public transportation, the kiosks typically take credit card payments. In Sweden, for example, I didn’t need cash because everything was cashless.

What To Do With Extra Cash

Please don’t exchange your currency for dollars back at the airport. You won’t get a great exchange rate because they know that you’re going back home. You should save your foreign currency because you’ll probably visit Europe again. Also, having cash in different currencies is cool and makes me feel like a spy. I recommend using your money to buy overpriced magnets like I do sometimes.

P.S. If there are any international sugar mamas out there looking to get their groove back in 2023, my services are available. Requirements: you must be 60+ and can’t be friends with my mom.