Check currency and money exchange before your trip

• Your destination and transit countries determine which currencies you will need along the route.
• The exchange rate, fixed fees and any additional charges together determine the final amount.
• The first exchange should cover foreseeable expenses and journeys at the start.
• Keep your receipt, cash and a second payment option separate.
• A small reserve in the local currency can help with minor expenses or technical problems.
• A reference rate is useful for comparison; the actual transaction is based on the rate and fees offered at the exchange office, ATM or terminal.

Start by considering your entire route. If you have a stopover, are taking a round trip or will continue your journey, you may need several currencies. For border crossings, entry requirements and documents are part of your travel preparations; getting there and transport link the different stages of your route. Your cash needs depend on which currency you will use for everyday expenses at your destination and which payment methods are available there.

Also take into account the first leg after arrival. You may need small amounts for local transfers and public transport before you reach your accommodation or a larger provider. If you have a long onward journey, additional costs for long-distance buses and ferries and train travel and stations add to your daily cash needs.

An exchange rate is a comparison value between two currencies. The European Central Bank’s euro reference rates are generally published on working days at around 4 p.m. CET and are for information purposes only, not for use as transaction rates. The amount offered at an exchange office, ATM or for a card payment may differ. What matters is the rate displayed, any fixed fee and whether an additional charge is included in the amount paid out.

Read the entire display before confirming an exchange. For cash, check the amount paid out and the fee shown; for a card, your provider’s subsequent billing also comes into play. For a payment, check the rate offered and the fees; money and payments are part of the same cost decision. You can then use your daily budget to assess whether the amount exchanged will cover your planned stay.

An exchange office with a clear display and receipt makes it easier to check the transaction. At an ATM, the currency and amount displayed, as well as any additional fee, determine the final amount. If a terminal lets you choose between the local currency and conversion to your own currency, the final amounts offered will differ; use the amounts and fees shown to make your decision.

Don’t exchange your entire travel fund at once. It is easier to keep track of a limited amount for your first journeys and small expenses; you can exchange more later as needed. Keep different payment methods available separately; store your card, cash and second payment option separately. As a precaution in case something goes missing, also prepare emergency funds, contacts and a Plan B.

After exchanging money, divide your cash between safe, separate places. Keep a small daily reserve accessible, while storing another amount somewhere you won’t need to open every time you make a purchase. Keep receipts if the amount is unusually high or you may need to verify a transaction later. Deposits and extra services for rental cars, accommodation or ferry trips affect how much money you actually need. Rental car costs should therefore be included in the same calculation as the amount exchanged; accommodation costs at your destination are additional.

Make a note of the currency used and the purpose of any larger exchange, especially if you are travelling with others. This makes it easier to compare expenses with your second payment method and daily budget. You can also save important receipts or contact details with your digitally backed-up travel documents, without immediately throwing away the paper receipt.

Is the reference rate the amount I will receive?

No. The reference rate is for guidance. An exchange office, bank, card provider or ATM may apply its own rate or additional fees.

How much cash should I exchange?

That depends on your route, the length of your stay, payment acceptance and your first planned expenses. A limited amount to start with, plus a reserve, is usually easier to manage than one large amount.

Why is a receipt important?

It shows the amount applied and the fee charged. This makes it easier to check the transaction if you have a query or need to verify it later.

Is there currently an ECB reference rate for the Russian ruble?

No. The European Central Bank last published an EUR/RUB reference rate on 1 March 2022 and suspended it until further notice because of current market conditions. This ECB rate is therefore not a basis for calculating a current exchange amount for a trip to Russia.