Cheapest way to buy Euros

Written by daniel westlake | 13/05/2017
Cheapest way to buy Euros
Euro coins (Jupiterimages/Photos.com/Getty Images)

The new currency in Europe has been a success since its creation and now has fluctuating exchange rates like the other major world currencies. However, there are cheap ways to buy euros, based on different strategic approaches you take to getting the most bang for your euro while in Europe.

Fees

Cheapest way to buy Euros
Shop around for the best exchange rate (Adam Gault/Digital Vision/Getty Images)

Wherever you get your money exchanged, the company that will be exchanging it for you will undoubtedly charge a fee. The best way to initially save money when buying your euros is to shop around and find one that will charge you the lowest fee. While you may not always have this luxury, local, slightly less trustworthy exchange establishments will generally offer a lower fee for doing this, while the larger, international and more trustworthy companies will generally be more expensive.

Different Values per Country

Cheapest way to buy Euros
The Euro is valued differently from country to country (PhotoObjects.net/PhotoObjects.net/Getty Images)

While the euro is the generally accepted currency around Europe, it doesn't mean it is valued in the same way from country to country. What could buy you a meal in Spain may be a few euros short of the same meal in the Netherlands. The individual economies of each of the European nations effects the cost of things within that nation. This means, simply, that more can be bought for 10 euro in a country like Spain or Portugal than 10 euro could buy in a country like France or Belgium.

Direct Debit Credit Cards

Cheapest way to buy Euros
The best way to save money is a direct debit credit card (Comstock/Stockbyte/Getty Images)

One of the simplest ways to save money on the euro exchange and the ever fluctuating euro values, is a direct debit credit card--it's cheaper to spend with them than withdraw cash, as they cover interest rates and currency rates from country to country. You will get the best foreign exchange rate possible on these cards as well. According to moneysavingexpert.com, the best credit cards of this type to use is the Santander Zero credit card and the Post Office credit card. These have high rates for cash withdrawal but the solution to that is simple: just don't withdraw cash.

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