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Travel Money Guide: Europe

Compare prepaid travel cards, debit and credit cards to find the right one for your trip to Europe.

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Jeremy Cabral
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Heading to Europe? Despite Europe being made up of many different countries, most use the Euro which is convenient for travellers. You can compare a range of travel money options in this guide to spend like a local while you're in Europe, while avoiding unnecessary fees and charges.

Plus, we've outlined how much you can expect to pay for everyday items while you're in Europe to help you plan your budget.

Compare travel cards for Europe

Data updated regularly
Name Product Available Currencies ATM Withdrawal Fee Initial Load Fee Reload fee
Cash Passport Platinum Mastercard
Cash Passport Platinum Mastercard
AUD,USD,CAD,EUR,GBP,HKD,JPY,NZD,SGD,THB,AED
USD $2.50, EUR €2.50, GBP £2.00, NZD $3.50, THB ฿80.00, CAD $3.50, HKD $18.00, JPY ¥260.00, SGD $3.50, AUD $3.50, AED 10.00
$0
$5
Up to 11 currencies on 1 card locked in exchange rates and no load fees.
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Name Product Foreign currency conversion fee Interest-free period Purchase rate Annual fee
humm90 Mastercard - Balance Transfer Offer
humm90 Mastercard - Balance Transfer Offer
0%
Up to 110 days on purchases
23.99% p.a.
$99
Get 0% interest on balance transfers for 36 months, with no balance transfer fee. Plus, up to 110 days interest free on purchases.
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Bankwest Zero Platinum Mastercard
Finder Award
Bankwest Zero Platinum Mastercard
0%
Up to 55 days on purchases
14.99% p.a.
$0
Get 0% p.a. on balance transfers for 26 months (with a 2% BT fee), ​an ongoing $0 annual fee and 0% foreign transaction fees.
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Coles Rewards Mastercard
Coles Rewards Mastercard
0%
Up to 55 days on purchases
19.99% p.a.
$0 annual fee for the first year ($99 p.a. thereafter)
Get 40,000 bonus Flybuys Points or $200 off a Coles Supermarket shop, a $0 first-year annual fee and a 14-month balance transfer.
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Bankwest Breeze Platinum Mastercard
Bankwest Breeze Platinum Mastercard
0%
Up to 55 days on purchases
0% p.a. for 15 months, reverts to 9.9% p.a.
$0 annual fee for the first year ($69 p.a. thereafter)
Get 0% interest on purchases and balance transfers for 15 months, a $0 first-year annual fee and no foreign transaction fees.
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NAB StraightUp Card
NAB StraightUp Card
0%
0% p.a.
$0
Save with 0% interest charges and 0% foreign transaction fees. Plus, $0 monthly fees when you don't use the card or carry a balance.
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Data updated regularly
$
Name Product Card access ATM Withdrawal Fee Monthly Account Fee Internatonal ATM Fee Foreign transaction fee
HSBC Everyday Global Account
Finder Award
HSBC Everyday Global Account
Visa
$0
$0
0%
Special offer: $100 cash bonus for new HSBC customers.
Earn 2% cashback on tap and pay purchases (T&C's apply).
Enjoy no minimum ongoing balance or transaction requirements and the flexibility to hold up to 10 currencies. Apple Pay and Google Pay available.

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Great Southern Bank Everyday Snap Account
Great Southern Bank Everyday Snap Account
Visa
$0
$4.50
2.95%
Refund of international ATM withdrawal fees and international card transaction fees (conditions apply).
$0 monthly account fee. Unlimited fee-free everyday transactions.
Apple Pay, Google Pay and Samsung Pay available. Savings Top Up tool automatically transfers to linked savings account.
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Citi Global Currency Account
Citi Global Currency Account
Mastercard
$0
$0
0%
Earn up to 0.75% p.a. interest on your AUD balance.
$0 monthly account fee.
Enjoy one linked debit card to hold up to 10 currencies and receive foreign currencies for free.
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Data updated regularly
Name Product Minimum Order Amount Maximum Order Amount Delivery/Pickup Method Commission Fee
Foreign Xchange Travel Money
Foreign Xchange Travel Money
$0
$9,999
In Store,Home Delivery
$0
Order multiple currencies in one transaction and have it delivered directly to your door anywhere in Australia. No delivery fee for orders over $1,000. A $10 flat fee applies to orders less than $1,000.
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FURTHER INFORMATION ON TRAVEL MONEY GUIDE: EUROPE

europe-flag

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 biggest 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
eatGyros (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
seeWalk 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.

YearConversion rate history from AUD to EUR
20120.806041
20130.728778
20140.679508
20150.677914
20160.672243
20170.690959

*Exchange rates are accurate as of 3 September 2017

Today's exchange rate AUD to EUR

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 tighter financial security and flexibility.

Travel money options for Europe at a glance

  • Prepaid travel cards
  • Credit cards with no foreign transaction fees
  • Debit cards with no foreign transaction fees
  • Taking local cash
  • Travellers cheques

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

Travel Money OptionProsConsiderations
Travel prepaid cards
  • Multiple international currencies load Euros and GBP on most travel cards
  • Currency conversion may apply
  • Conversion fee is almost double the charge than on debit and credit cards
Debit cards
  • A chance for waived international ATM fee
  • No ATM operator fees on European bank ATMs for cash withdrawals
  • International ATM fee and currency conversion fee applies when on withdrawing cash with an Australian card
Credit cards
  • A chance for waived international ATM fee
  • Operator fees may apply
  • Cash advance fees
Travellers cheques
  • Acceptance
  • Security
  • Can be costly with initial purchase charges
  • Not all merchants accept travellers cheques
Cash
  • Payment flexibility
  • Convenience
  • More difficult to manage expenses
  • Higher risk of theft

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

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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.

  • Latvia
  • Lithuania

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.
  • 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
    CountryBank
    France and ItalyBNP Paribas
    Germany, Spain and PolandDeutsche Bank
    UKBarclays Bank
    UkraineUkrsibbank - 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 Latitude, 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.
european-banknotes

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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.

Read our complete guide to buying euros online before you leave

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.

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Interview with Marc Terrano about short-term travel money options for Europe

marc-terranoWhere did you visit in Europe?

Marc visited: London, Paris, Rome, Prague, Split, Amsterdam, Munich, Barcelona and Switzerland. He stayed on the continent for a month.

What cards did you take with you?

Why did you take these cards with you?

Marc took the Citibank Plus Transaction Account as his primary travel account to use in Europe. He applied for this account specifically for his trip. He used the Citibank Plus for ATM withdrawals and in-store purchases. Marc had no problems using his card and he used European bank ATMs so he could avoid the local ATM operator fee too. Marc notes that the Citibank Plus card did not have a CHIP (recent issues of this product do have a CHIP), so he was conscious of not using his card to withdraw cash at dodgy looking ATMs. Marc is back in Australia and continues to use his Citibank Plus Account for day to day spending. He likes the fact that the account is low on fees. He'll be using the Citibank Plus Transaction Account when he goes back to Europe too.

Marc used the Commonwealth Bank Smart Access as a backup card. The Commbank Smart Access account was Marc's main account in Australia before he went to Europe. Marc was topping up his Citibank account from his Commonwealth Bank as he needed more money. He kept the Smart Access card in his passport in case he lost his Citibank card.

What about ATM withdrawals?

Marc withdrew $300 - $500 Australian dollars in Euros each time. Citibank didn't charge Marc an international ATM fee, and Marc doesn't remember paying too many local ATM operator fees either.

Could you use your card everywhere?

Marc could use his Citibank card everywhere. He was given the option of paying in Australian dollars in a few places, but he chose to pay in Euros instead. The exchange rate is more favourable paying in the local currency.

What do you think is the best way to travel with money in Europe?

If you're like Marc and you don't have a credit card, Marc recommends the Citibank Plus Transaction Account. He also advises that everyone to take a backup. Whether it's a travel card, another debit card, traveller's cheques or a credit card, Marc says it's important to have options.

What are your travel money tips for Europe?

  • SMS alerts. You're required to confirm transfers between some accounts by entering a SMS verification code. This can be a problem if you're using an international SIM. Marc spoke to the Commonwealth Bank directly to disable this function while he was overseas.
  • Call your bank. Marc says it only takes five minutes to tell your bank about your travel plans. This stops your bank from blocking your account when you make a purchase or withdrawal.
  • Tipping. Tipping varies depending on what country you're in. In some countries and in some restaurants the tip is worked in as an automatic 'service fee', especially in Italy. Always read the bill to avoid paying two tips! Marc was told to tip 10% if he wanted to, but the service is shocking in some European restaurants so he didn't always follow this rule.
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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:

  • Cancellation
  • Lost or stolen luggage
  • Emergency medical and dental
  • Repatriation
  • Evacuation
  • Personal liability

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

warning Finally, some good news! Domestic travel is picking up, so some insurers have started offering cover again 🦘
Just remember, you won't be covered for any pandemic related claims if you do take out domestic travel insurance.
International travel insurance is limited and sometimes unavailable at this point.

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Other topics you may be interested in:

Europe is a diverse continent rich in culture and natural beauty. Travel for an hour and the people speak a different language, the food is different and so is the architecture. If you'd like more information about taking travel money to specific European countries, have a look at our location guides.

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25 Responses

    Default Gravatar
    LouisaSeptember 10, 2016

    Hi!

    I’m travelling to UK and Europe at the end of the year, and am considering applying for a Citibank Plus Transaction Account. I’ve noticed when I search for ATMs using the Citibank’s ATM locator (online) there don’t seem to be all that many ATMs in UK/Europe!

    Just wondering if Citibank ATMs are the only ones I can use to withdraw cash abroad (without incurring fees) or whether Citibank has an alliance with other banks which would allow me to use their ATMs.

    If so, which banks/ATMs are these?

    Thanks!
    Louisa

    Reply
      Avatarfinder Customer Care
      MaySeptember 12, 2016Staff

      Hi Louisa,

      Thank you for your question.

      Unfortunately, Citibank does not have a bank or ATM partner in the UK and Europe. However, please note that there are no currency conversion fees nor international transaction fees applicable when using the Citibank Plus Transaction account overseas. Citi will also not charge you ATM fees when using any ATM in the world. If you use overseas non-Citibank ATM for withdrawal, the third party ATM operator may charge a fee which Citibank cannot control.

      Cheers,
      May

      Reply
    Default Gravatar
    GregFebruary 16, 2016

    Hi Everybody,
    I’m planning a trip from Australia to six countries in Eastern Europe and only one country on the list accepts Euros. What’s the best cash travel card to withdraw local cash from ATMs?
    Thanks

    Reply
      Avatarfinder Customer Care
      SallyFebruary 16, 2016Staff

      Hi Greg,

      Thanks for your question.

      Australian travel cards mainly support Euros, but you probably won’t find a card that supports some of the currencies you will need in Eastern Europe. If you make a purchase in an unsupported currency, your Euros will be converted into the local currency and you will be charged a currency conversion fee. You might want to select a card that doesn’t charge foreign currency conversion fees. The Commonwealth Bank Travel Money card doesn’t charge currency conversion fees on supported or unsupported currencies. However, this card does charge ATM fees.

      You can compare card ATM fees on our travel money guide, though you will find that most cards charge an ATM fee or currency conversion fee when withdrawing funds in an unsupported currency. As such, you’ll want to compare the fees and at least try to find one that’ll charge you the least.

      Please ensure to read through the relevant product disclosure statement and terms and conditions of the card to ensure that you got everything covered before you travel.

      I hope this helps.

      Cheers,

      Sally

      Reply
    Default Gravatar
    BennyJanuary 4, 2016

    hi there!
    i am really thinking about moving to Berlin to live.
    I have applied for my british passport.
    What long term solutions for money are recommended?
    I have had friends say to get the citibank card and others say maybe get a HSBC account which is international…

    I would like some tips if im thinking of moving there at least 6 months to a year or longer but would also like to travel around europe whilst over there.

    Cheers!

    Reply
      Avatarfinder Customer Care
      SallyJanuary 5, 2016Staff

      Hi Benny,

      Thanks for your question.

      Your ‘best’ option will depend on your financial situation, travel plans and spending habits. If you’re interested in either a Citi or HSBC account, you would benefit from comparing the two side by side and considering the fees, benefits and features of each account to weigh up which one you can both afford and receive the most value from.

      Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered on your transactions.

      I hope this has helped.

      Cheers,
      Sally

      Reply
    Default Gravatar
    chiMarch 24, 2015

    My daughter is going to Europe for first time with packaged tour for four weeks, mainly currency is euro, except Czech republic. What is the best way to manage her spending ?

    Reply
      Avatarfinder Customer Care
      ShirleyMarch 24, 2015Staff

      Hi Chi,

      Thanks for your question.

      The information on this page outlines a range of suitable options to take and suitable products for Czech Republic travel money guide. Your daughter may choose to take multiple products with her to manage her spending. It is always a good idea to have more than one travel money option, so you might want to consider a credit card that is designed for overseas expenses for emergencies and big purchases and a debit card or prepaid card and cash for everyday expenses.

      Cheers,
      Shirley

      Reply
    Default Gravatar
    cybeleJanuary 15, 2015

    rite of passage (not right of passage)

    Reply
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