Depending on the purpose for your travels in Europe, it may be important, if not absolutely necessary, to buy euros. Mom-and-pop shops still run brick-and-mortar businesses that will not necessarily accept payment by card. If you are unsure exactly how to go about buying euros, the airport is a good place to start. In accordance with the ever-increasing utilization of air travel, as well as the international significance of the euro, most international airports accommodate travelers by providing solutions for the purchase of Euros.
The first thing to consider when buying euros at the airport is the current exchange rate. Exchange rates are calculated based on the current world market demand of the two currencies being exchanged. Currency exchanges at airports may boast that they offer the most frequently updated exchange rates; however, they are businesses, and may therefore have skewed exchange rates to profit their operation. That being said, these currency exchange practices are necessary costs for the purchase of euros.
Commission at the Currency Exchange
When exchanging cash at the airport, you may notice a currency exchange advertising a low rate of commission. Because of the market risk of foreign currency exchange, most cash exchanges charge some sort of commission to make a base profit on the exchange. To avoid unexpected fees, it is important to know the rates of commission and exchange offered by specific currency exchanges. However, many major airports provide 0 percent commission rates to encourage tourism and expenditure within their country. Find out if your departure or arrival airport offers this service by contacting them directly.
International Cash Withdrawal
These days, most banks will allow international transactions on credit, ATM or debit cards. This affords you the opportunity to make withdrawals of euros with your ATM or debit card at international ATMs at either your departure or arrival airport. Note, though, that a charge will be attached to the transaction. Banks decide the exchange rate and the charge for the transaction, so the overall purchase may be more costly than anticipated. Your personal bank can provide all of the information regarding its coverage and charges of international transactions to help you mediate convenience and cost.
Because you can purchase euros at both your departure and arrival airport, it may benefit you to first research which airport will yield better rates, thus more euros. Find out which method of exchange or purchase will benefit you the most. For example, some banks charge a flat fee for any international transactions; in this case, purchasing a large amount of euros in one transaction would be most cost effective. Otherwise, exchanging a lump sum of domestic cash may be more cost effective.