If your trip goes to a destination where they use currencies like EUR, USD, SEK, NOK, GBP, you can often switch to your own bank. However, if you need a larger amount of currency or more exotic currencies, you should always contact your bank and hear if they are negotiating the currency you want to exchange and make sure to order it in good time.

Switch money from home

Switch money from home

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It costs money to exchange money in a bank, and often it can also be relatively expensive. The price depends on the following:

  1. The exchange rate which is the price of the currency you are switching to.
  2. The fee the bank takes to exchange for you.
  3. How much you change.

The advantage of switching from home is that you know both the exchange rate and the fee and thus the total price. In addition, you also have to run around and look for an ATM during the first days of your holiday. The disadvantage of having currency with you from home is, on the other hand, that you do not know how many cash you really need, as you can increasingly use your payment cards at holiday destinations. It can therefore mean that you have excess currency with you home, which you then have to pay to get exchanged back to Danish kroner.

Raise money at the destination

“ In addition, you also have to run around and look for an ATM the first few days of your holiday.

In most countries, ATMs that easily accept credit cards such as Visa, Mastercard, Eurocard or similar are easily accessible. But is it better than having currency with you from home? As a starting point, it is cheaper to raise cash on the journey than to switch from home. But keep in mind that it pays to raise fewer but larger amounts as you pay a fee each time you withdraw. The fee varies depending on which payment card you use and your bank.

Also, beware of local exchange agencies, where you often experience a worse exchange rate compared to raising money in an ATM. Then check out the exchange rate before using a local welfare agency.

Pay with cards in the stores

Pay with cards in the stores

As a rule, the cheapest option is if you use your VISA card or some other type of credit card when you, for example, must pay in a store or in a restaurant. The exchange rate is, as a rule, the same as if you withdraw from the bank, but you do not receive the raise fee in return. However, there may be a fee of 1-2 percent depending on which credit card you use and which bank you have. Check the price list at the bank. The advantage of paying by credit card is that of course you don’t have to spend too much cash on you.

Bring extra payment cards on the journey

It is always a good idea to have more than one payment card when traveling on vacation. Should you be so unlucky to lose your primary card, it’s nice to have an extra card at hand. It is also wise to keep your cards and any cash separate so that you do not lose everything if you are theft.

So what’s the right solution

So what

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The best solution when going on holiday is actually a combination of the above options.

  1. Raise some money from home so you have some cash when you arrive at your destination. There is nothing worse than starting the holiday by looking for an ATM at the airport because the taxi does not accept cards.
  2. Use cards whenever possible – especially in shops, restaurants, etc., which do not charge for the use of credit cards.
  3. Always bring an extra credit card so that you still have access to money if the primary card is damaged, disappeared or the consumption limit is reached.

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