Getting your euros without paying for the privilege
The rate on the board is not the cost. The cost is the gap between that rate and the real one, and it is largest exactly where it is most convenient to buy.
How you actually pay
Most travel money is sold with no commission, which is true and irrelevant. The charge is in the spread: the difference between the rate you are given and the real interbank rate. A bureau advertising “0% commission” can still be taking a double-digit percentage.
To check, look up the interbank rate for your pair on any currency site, then compare. That comparison, not the word commission, tells you what the transaction costs.
Ranked, worst to best
| Where | Typical cost | Use it when |
|---|---|---|
| Airport bureau, walk-up | Worst available | Never, unless it is an emergency |
| Hotel reception abroad | Very poor | Same |
| High street bureau, walk-up | Mediocre | Small amounts, last minute |
| Ordered online, collected | Reasonable | When you want physical cash and planned ahead |
| Fee-free debit card at a bank ATM | Close to interbank | Getting cash abroad |
| Fee-free card, paying directly | Close to interbank | Almost everything |
Airport bureaux are not being unreasonable. They pay airport rents and serve people with no alternative. Knowing that does not make it cheaper.
Which card
The thing to look for is a debit or credit card that charges no foreign transaction fee and uses the network rate. Several UK app-based banks do this as standard, and a few traditional cards do too. Check three things before you rely on one:
- Is the foreign transaction fee genuinely zero, or zero up to a monthly limit?
- Are ATM withdrawals free, and up to what monthly ceiling?
- Does the rate change at weekends? Some providers add a markup Friday to Sunday.
Take two cards from two different providers and keep them apart. A blocked card on a Sunday evening is a much smaller problem when there is another one in the safe.
How much cash to carry
Card acceptance across Spain, Portugal, Greece and Turkey is now close to universal in tourist areas, but cash still wins in specific places: small taxis, beach bars, market stalls, tips, and the occasional rural restaurant with a machine that is permanently broken.
A sensible starting point is enough for the first day plus a taxi, then top up from a bank ATM at the destination. Use machines attached to actual banks rather than the standalone ones in tourist strips, which charge their own fee on top of everything else.
Coming home with currency
Bureaux buy back notes at a worse rate than they sold them, and nobody changes coins. If you are likely to return within a year, keep the notes. If not, spend down to coins at the airport on the way home rather than changing a small amount twice.
Frequently asked questions
Is it cheaper to use cash or card abroad?
Card, if it has no foreign transaction fee. The exchange rate a card network uses is far closer to interbank than anything a bureau offers.
Should I tell my bank I am travelling?
Modern fraud systems rarely need it, but app-based banks often let you flag a trip in a couple of taps. It costs nothing and prevents a decline at a petrol station.
What about Turkey?
The lira moves a lot. Convert small amounts as you go rather than buying a week of spending at once, and pay by card where you can.
Are prepaid travel cards worth it?
They are useful for budgeting and for locking a rate, but the rate you lock is rarely great. A fee-free debit card usually beats one on cost.
General information, not financial advice.