Paying abroad

In short: Abroad you pay most cheaply with a card without a foreign currency fee and in the local currency. Cash is useful as a reserve.

In more detail: In the euro area there is no currency conversion. Outside the eurozone fees often apply and vary widely by card.

In detail

• Always pay in local currency: When asked “euro or local currency?” choose local currency, otherwise the merchant or machine converts at a poor rate (dynamic currency conversion).
• Withdrawing cash: Often cheaper at machines of bank partner networks. Mind the machine operator’s fees.
• Cards: Credit and debit cards (Visa, Mastercard) are widespread. Some accounts and cards have no foreign fee.
• Contactless and phone: Payment by smartphone is on the rise worldwide.
• Security: Block cards immediately if lost (emergency number 116 116 in Germany), cover your PIN.
• Cash reserve: Some for tips and small amounts.