Travel Money Guide: Europe

Planning a Euro trip? Discover how you can get the most out of your travel money here.

Which option is right for your next trip?

ANZ Travel Card

The ANZ Travel Card is a prepaid card that can be loaded with up to 10 currencies to make purchases overseas at over 38 million merchants and over 2.3 million ATMs worldwide.

• Lock in your exchange rates and know how much money you have to spend
• No transaction fees for electronic purchases when using foreign currency
• Multiple reload options - online, over the phone or in person
• Manage your money online or over the phone 24/7
• Spare card if in case one is lost or stolen

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Compare travel cards for Europe

• Prepaid Travel Money Cards
• Travel Credit Cards
• Travel Debit Cards

Rates last updated July 21st, 2017

		Available Currencies	ATM Withdrawal Fee	Reload Fee	Initial Load Fee
	ANZ Travel Card	AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD	AUD 3.50, USD 2.50, GBP 2.00, EUR 2.20, NZD 4.50, CAD 3.00, HKD 20.00, SGD 4.00, THB 95, JPY 260	1.1% of the value purchased	$0	Go to site More
	Qantas Cash	AUD, AED, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD	AUD 1.95, CAD 2.00, EUR 1.50, GBP 1.25, HKD 15.00, JPY 160, NZD 2.50, SGD 2.50, USD 1.95, THB 70.00, AED 6.50	$0	$0	Go to site More
	Velocity Global Wallet® Card	AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD, ZAR	AUD 0.00, CAD 2.00, EUR 1.50, GBP 1.25, HKD 15.00, JPY 160, NZD 2.50, SGD 2.50, THB 60, USD 1.95, ZAR 20, Other than above: AUD 1.95	$0	$0	Go to site More
	NAB Traveller Card	AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD	Overseas: $0 per withdrawal via international ATMs Domestic: $3.75 fee applies	$0	$0	Go to site More
	St.George Global Currency Card	AUD, HKD, USD, SGD, GBP, JPY, EUR, THB, NZD, ZAR, CAD	AUD 2.00 USD 2.00 GBP 1.50 EUR 2.00 NZD 3.00 CAD 2.50 HKD 15.00 SGD 3.00 JPY 200 THB 75.00 ZAR 20.00	$0	$0	Go to site More
	Westpac Global Currency Card	AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD, ZAR	Non-Westpac Group ATM in Australia / non-Global Alliance ATM overseas: AUD 2.00, USD 2.00, GBP 1.50, EUR 2.00. NZD 3.00, CAD 2.50, HKD 15.00, SGD 3.00, JPY 200, THB 75.00, ZAR 20.00 Over 50k ATMs (Global ATM Alliance network & Westpac): $0	Transferring through another financial institution (BPAY) may attract a transaction fee.	$0	Go to site More

Rates last updated July 20th, 2017

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Name	Product	Foreign Currency Conversion Fee (MC)	Foreign Currency Conversion Fee (VISA)	Overseas ATM Withdrawal Fee	Overseas Cash Advance Fee	Annual fee	Product Description
Bankwest Zero Platinum Mastercard		0% of transaction value		$0	The greater of 2% or $4.00	$0 p.a.	An introductory offer on balance transfers, plus complimentary travel insurance & access to a 24/7 Concierge service.	Go to site More info	Compare	loading Fetching your data...
Bankwest Qantas Platinum Mastercard		0% of transaction value			2% or $4.00, whichever is greater	$160 p.a.	Enjoy a high credit limit with complimentary travel insurances and earn 0.5 Qantas Points per $1 spent on eligible purchases.	Go to site More info	Compare	loading Fetching your data...
Bankwest Qantas World Mastercard		0% of transaction value				$270 p.a.	Earn uncapped Qantas Points per $1 spent on eligible purchases and receive complimentary travel insurance.	Go to site More info	Compare	loading Fetching your data...

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Rates last updated July 21st, 2017

Monthly Deposit

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		Monthly Account Fee	Debit Card Access	ATM Withdrawal Fee	Fee Free Deposit p.m.	Details
	Bankwest Qantas Transaction Account $0 Overseas ATM withdrawal fees charged by Bankwest. Third party ATM fees and international transaction fees may still apply.		Mastercard	$0	$2,000	$0 account keeping fees when you deposit at least $2,000 into your account each month. Otherwise, a $6 monthly fee applies. Unlimited Free withdrawals at Bankwest and CommBank ATMs in Australia.	Go to site More
	Westpac Choice $0 Overseas ATM fee when you withdraw from the Global ATM alliance network. International transaction fee still applies.		Mastercard	$0	$2,000	$0 account keeping fees if you deposit at least $2,000 per month. Otherwise, a $5 monthly fee applies. Unlimited free withdrawals at St.George, Westpac, Bank of Melbourne and BankSA ATMs.	Go to site More
	St.George Complete Freedom Account $0 Overseas ATM fee when you withdraw from the Global ATM alliance network. International transaction fee still applies.		Visa	$0	$2,000	$0 account keeping fees if you deposit at least $2,000 per month. Otherwise, a $5 fee applies. Unlimited free withdrawals at St.George, Westpac and BankSA ATMs.	Go to site More

How much Euro do I need to bring?

Wondering how much money to take to Europe? How long is a piece of string. Like anywhere, prices in Europe are varied. Countries like France and Germany are a touch more expensive than places like Greece, but no matter where you are in the Eurozone, your trip is going to be as cheap or expensive as you let it be. For example, shop at Franprix for cheap cheese and wine in France, a delicious baguette is just over 1 euro in price. Alternatively, you can easily spend a couple of hundred euros on dinner for 2 on the Champs Elysée.

Some basic prices across Europe

When it comes to food, if you’re eating in a restaurant, prices will be higher than grabbing a bite on the street, i.e. Gyros in Greece, Trapizzino in Rome or a jambon et fromage baguette (ham and cheese sandwich — far better than it sounds) in France are all less than €5 in price. In most European countries you can expect to pay anywhere from €10 - €30 for a meal in a mid-tier restaurant. Once you hit 5 star restaurants, price is likely to be less of a concern. Prices for staple goods in Western and Central Europe (rice, potatoes, pasta, etc.) are comparable if not cheaper than Australia.

• Tip: If you’re at a restaurant, the ‘plat de jour’ (plate of the day) will be one of the cheapest and best tasting dishes on the menu.

Accommodation is likely to be your greatest expense when you’re visiting Europe. We’ve included a snapshot of some prices for budget, midrange and top end hostels and hotels in different European countries below.

	Greece (Athens)	Germany (Berlin)	France (Paris)	Italy (Rome)
	Hostel $15 per night	Hostel $15 - $20	Hostel $30 per night	Camping $12 per night Hostel $20 per night
	Gyros (street) $3 Small beer (supermarket) $1 - $2	Currywurst (street) $3 Beer (supermarket) $2.00	Baguette (supermarket) $1.50 Cheese (supermarket) $3 Average wine (supermarket bottle) $2 - $7	Pizza (restaurant) $5 - $10 Wine (restaurant) $5 - $10 per glass
	Walk around the Acropolis and Parthenon (pay $30 to go inside or enjoy the spectacular view from the outside for free)	Walking tour of Berlin Free (although it’s polite to tip the guide a couple of euros at least)	Get the food items mentioned above and camp at the Champ-des-Mars for a view of la Tour Eiffel.	Walking tours of Rome Free (plus a tip for the guide)

*Prices are approximate and based on summer seasonality and are subject to change.

Exchange rate history

It’s very difficult picking the future movement of currency pairs. The European Debt Crisis saw the Aussie dollar rise against the euro in 2012. Since then, the euro has regained its value. 1 euro has been worth about $1.4 - $1.6 Aussie dollars for the past 3 years.

_{This table is a general summary of the travel money products in the market. Features and benefits can vary between cards.} 

Travel card, debit card or credit card?

This all depends on where you’re travelling. A prepaid travel card can be a good idea if you’re staying within the Euro financial zone and the United Kingdom. If you’re travelling to another destination like Croatia, the Czech Republic, Sweden or Hungary, for example, you’re better off using a debit card which waives the fee for currency conversion (ATM fee waivers are a bonus too). While there are travel cards which don’t charge you for currency conversion, the back end fees, exchange rate margin and extra account management make a travel friendly debit card such as the Citibank Transaction Account a better option if you’re moving in and out of the Euro Zone. This is in addition to a credit card, which can be a travel essential if you want greater financial security and flexibility.

Travel money options for Europe at a glance

Have a look at how these different types of travel money product will work in Europe.

How do travel cards, credit cards, debit cards and more work in Europe?

Using a travel prepaid card

A travel card can hold multiple international currencies. The main value proposition: use a travel card to spend in a currency already loaded on the card and you save on the fee for currency conversion. You can load Euros and GBP on most travel cards, but few other European currencies will be supported.

If you’re travelling to one of these European countries, consider using a debit card or credit card rather than a prepaid travel card. A currency conversion fee applies if you’re spending in a currency not loaded on the card. In most cases, the conversion fee is almost double the charge than on debit and credit cards. There are less than a handful of countries in Europe that have not adopted the Euro.

Although the United Kingdom is not a part of the Euro Zone, all travel cards let you load pounds sterling. Preload both euros and pounds and you can use the one card to spend like normal on both sides of the English Channel.

Using a debit card

Visa and Mastercard branded debit cards will work throughout Europe without problem. There are fees that come with international debit card use — mainly currency conversion fees and ATM fees — these charges can be avoided by taking the right debit card on holiday to Europe. Debit card providers such as Bankwest and Citibank waive international ATM fees. Unlike in Australia, you’ll find most European banks don’t charge a local ATM operator fee. Westpac also have deals with major European banks allowing cardholders to make cheap ATM withdrawals.

• Tip: European bank ATMs do not charge a local ATM operator fee when you make a cash withdrawal. Only the international ATM fee and currency conversion fee applies when you withdraw cash with an Australian card.

Click here if you wish to learn about Citibank ATMs

• ATM partners — why not withdraw for free?
  If you’re a Westpac Group customer, that’s Westpac, St.George, Bank of Melbourne and BankSA, you can avoid the international ATM fee by making withdrawals at Westpac Global ATM Alliance partners.
• Westpac ATM Alliance partner banks
  

  Country	Bank
  France and Italy	BNP Paribas
  Germany, Spain and Poland	Deutsche Bank
  UK	Barclays Bank
  Ukraine	Ukrsibbank - Private Bank

Using a credit card

The cards listed below are among the cheapest credit cards to use in Europe, or anywhere in the world for that matter. This is because they do not charge a ‘currency conversion fee’. This is a charge of 2 - 3% (depending on the card provider) charged when you carry out a transaction in a currency other than Australian dollars.

Credit card providers such as Bankwest waive international ATM fees (operator fees may still apply); however, using your credit card to withdraw cash will incur cash advance fees and interest as well as ATM fees. You may be able to avoid the cash advance fee and interest charges if you preload your own money onto your credit card. The rules are different for each provider. The catch: you’re waiving certain anti-fraud guarantees when you preload your own funds onto your credit card.

FAQs on our travel money page

Using a traveller's cheques

It is not necessary to take travellers cheques with you on your trip to Europe. Financial institutions offer money back guarantees if you’re the victim of fraud, and there’s a limited number of places where you can cash your cheques.

Paying with cash in Europe

Although the Euro was officially introduced in 1999, European citizens didn’t start to see the new notes and coins till sometime in 2003. The notes are all different colours and feature different architectural designs from different eras.

There are places where you’ll need cash; however, card payments are the norm throughout Europe. Contactless card payments are common in places like France and Germany, but cash is necessary if you’re heading off the beaten track — places like smaller Greek islands predominantly use cash.

Buying currency in Australia

You won’t need euros to pay for your visa when you arrive in the European Union, Australians get an automatic 90 day visa on arrival. If you really want to buy euros before you leave Australia, consider non-bank foreign exchange providers such as Australia Post or Travelex. Travelex lets you order cash online and pick it up at the airport before you leave. These providers don’t charge a commission like the banks; but they do make a small profit by applying a margin to the exchange rate. You can make an ATM withdrawal when you arrive; ATM fees aside, Visa and Mastercard offer some of the best rates for everyday consumers.

Finding cash and ATMs in Europe

Why you’ll need a combination of travel money options

Never put all your eggs in one basket. A credit card and debit card combination is a good mix to use to access cash and make purchases. A credit card is a must: interest free days give you time to pay back your purchases, some cards offer free travel insurance and credit cards give you peace of mind through access to emergency cash. Don’t use a credit card for cash withdrawals. It’s almost too expensive to justify. Use a debit card or prepaid travel card to withdraw cash.

Travel insurance for Europe

Euro-trips and gap years are almost a compulsory rite of passage for young Australians, but don't let your revelling get you in trouble. Covering your European vacation with travel insurance is imperative to ensuring you are financially protected against unexpected travel expenses. Travel insurance may include cover for:

Compare travel insurance policies for Europe today, and find a policy to suit your specific needs.

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Compare travel insurance for Europe.