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What currency should I use/take?

Travel Forums Europe What currency should I use/take?

1. Posted by dsguasc (Budding Member 27 posts) 9y

I'm coming from australia and wanted to know how I should work my money... I'm flying to vienna... should I change some of my money to euro's now? or should I wait until I get there? and I end up in London... A bit of advise would be great!!

2. Posted by Jase007 (Travel Guru 8870 posts) 9y

I usually get a little spending money in cash before I leave, the rest of the time i use my credit card for purchasing and debit card for getting local currency (nationwide in the UK has a free withdrawal policy).

Use the net to have a look at buying exchange rates for the Aus$ to Euro or Pound.
A lot depends on how long you intending on traveling for, how much you want to convert.

Have a look at Currency exchange for an idea on what rates to expect when changing within the UK. Remember to take into consideration some companies charge fees whilst others may just give you a lesser rate.

3. Posted by Mel. (Travel Guru 4567 posts) 9y

Hello Dsguasc:)

I dont think there is any need to change any now.
All international airports have foreign exchange booths.
If u want u could check the internet for the official exchange rate, and then if your bank offers u a good rate then change some before u go. Also watch the commission. Sometimes u pay less commission if u change more at a time. Also some places dont charge any commission, so those are better places to change cash.
And Australian dollars should be exchangable all over Europe, so just take those.

Mel

[ Edit: Edited on Sep 28, 2007, at 4:31 AM by Mel. ]

4. Posted by Hien (Moderator 3906 posts) 9y

I agree with Jase on getting a little bit of your destination's local currency before leaving. I wouldn't change currencies at airport unless really necessary as they usually don't give good rates.

5. Posted by aharrold45 (Travel Guru 1281 posts) 9y

You should definitely change money before you go. In Australia the best place to get your money from is the Commonwealth Bank. They do have an AUD8.00 fee for changing money up to the equivalent of AUD800.00, but if you change more than about AUD300.00 it works out better as they have a far better exchange rate than any of the other banks or exchange places.

With banks in Australia what you should also do if possibly is apply for a Wizard Clear Advantage Mastercard before you go and load that up with most your money. That has no cash advance fees (as long as you only withdraw your own money) and also has no currency conversion fees. To make it even better the exchange rate they give you when withdrawing the cash is also only slightly worse than the internet rate (only a few cents difference over a few hundred dollar withdrawal or purchase). That creditcard also has no annual fee. Just make sure though that you never use the banks money (through a cash advance) because when you do that you'll pay huge amounts of fees and extreme interest on it. It'd be fine using it for normal creditcard purchases like say going to the supermarket etc but when you get cash in your hands that is the banks money and not yours then it's costly. Most banks in Australia charge a $5.00 withdrawal fee whether you withdraw $20 or $1000 from the ATM but some also have a certain percentage currency conversion fee (especially creditcards except the wizard clear advantage one) which works out rather costly.

Those places you may see that claim to not charge commission always have a bad exchange rate. I worked it out in Nice/France at one place and it would have cost me over 10 Euros more using the no commission place than the place that charged commission. If you opt for what I said above (assuming you are a permanent Australian resident and over 18 so it is open to you), well you will be far better off. I am as much of a scruge with my money as they come so I have checked every possible way to save even 5 cents.