The most economical way to spend money in different currency zones?

acequion

Registered User
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I'm fairly traditional when it comes to money and mainly travel in the euro zone. However I will soon be going on a short break to Copenhagan where the currency is the Danish krone and I occasionally pay a trip to the UK. When in the UK I mainly pay everything with my Irish BOI debit card. Is it ok to do the same in Copenhagan or is there a more economical way to get the best conversion rate? Revolut perhaps? Or is it even worth doing anything differently for a very short break and the perhaps once yearly trip to the UK? Thanks for any advice /opinions?
 
is it even worth doing anything differently for a very short break and the perhaps once yearly trip to the UK?

I have just come back from a weekend in England. Many of the ATMs there charge you to withdraw money, so when you draw cash you are not just paying BOI and their high exchange rate, but other UK fees.
When you use your Irish debit card, the business you are purchasing from will use their own unfavourable exchange rate.

I don't know how much you spend on your trips, but if you are paying hotels, transport, refreshments etc while abroad the savings will be worth getting a multi-currency card.

I travel as often as I can, within Europe and beyond. For many years I have held a Wise debit card, which does not charge an annual fee, and when used to cash withdrawals or purchases abroad enables me to choose the more favourable local currency option rather than bank or merchant exchange rate.
I am notified every time a transaction is made, so would notice a scam instantly, but have never had a problem.
It is very easy to transfer funds from my Irish current account, so you do not need to keep a high balance there if not needed.
 
When spending on card in a currency different to the card, never accept the "pay in card currency" option as this is where both the retailer and the card merchant processor add fees of up to 5% in addition to their exchange rate.

So in the UK, always select sterling and in Denmark, always select DKK and you will get visa/MasterCard official exchange rate and your own bank fee. (Usually about 1.5%)
 
Revolut and N26 are good.
I also have a curve card. I don't use this much but it is good to have as a back up. It acts as a cover card so you can use it to cover your Irish bank card. Effectively you are then drawing money from your Irish card, but getting a very good foreign currency rate.