Currency exchange while traveling: why do some still carry wads of cash?
FR

Translated into English.

MA Masterpo Globetrotter ·
I went to Prague for two days (after Budapest and before Magdeburg) two years ago. I didn’t exchange a single cent—everything was paid with Apple Pay. In fact, I didn’t exchange cash in Budapest either. I don’t even know what a forint or a Czech koruna looks like.

I don’t know much about the surrounding areas, but I have great memories of Karlštejn Castle.
TA Tatra Globetrotter ·
Hey there....

I spent the summer between these two countries—actually, more than one summer—and I can confirm that in most cases, you don’t need cash. That said, I’ve never understood visiting a country while depriving yourself of contact with the local currency, the money itself, and everything tied to it, like how people count and the value scale. A 100 HUF coin for a shopping cart, a 200 CZK bill for a small restaurant, and above all, the images, the language, the values.

Michel
MI MirandaMouse Globetrotter ·
Well, I’m not a big fan of handling money, counting it, etc., to begin with. I’m absent-minded—I’ve already lost money that way. And with foreign currency, finding the right coin and all that...

Plus, in my case, my travel payment card is a bit special—I get charged more if I make withdrawals. I could use another card in a pinch, but I prefer to spend the money on this one (I won’t go into details, it’s not interesting).
MA Masterpo Globetrotter ·
I’ve never understood visiting a country while depriving yourself of contact with the local currency, the money itself, and everything tied to it—like how people count and the value scale.

From a distance, it seemed like just a simple decimal system, so I didn’t think it was worth looking into further.

A 100 HUF coin for a shopping cart, a 200 CZK bill for a small restaurant, and above all, the images, the language, the values.

Okay for the images, but I don’t see the connection with the language or values (except for the ones on the bills). With quite a few Hungarian stamps in my youth, I only managed to learn two words: Yo, poste and hongroise. If it’s just to add banque…
HE Henon21 Veteran ·
Hello, Everyone has their own way of traveling, and their own way of paying. Except that often, circumstances dictate the rules. In April 2024, I was in China, and I’d been warned that those old payment methods (bank cards) were already outdated—and that’s true. Even in small villages, you only pay using apps with QR codes, with the vendor themselves having their own QR code. For cash, even in a village in Fujian, when I bought a bottle of water, the shopkeeper checked an old coffee tin to see if she had change to give me!! On the other hand, I always carry local cash in other countries like Vietnam, Cambodia, Indonesia, and Africa, for example, because in remote areas, there isn’t always electricity, so no card payments. And tourists are forced to turn back. Plus, I can confirm that paying in the local currency gives you a better exchange rate. It’s glaringly obvious in Cambodia. Like Manon, I travel with cash, and my bank card is really just for emergencies. And it’s helped me avoid hassles on off-the-beaten-path routes. Everyone has their own travel style. The important thing is to come back fulfilled.
MA Masterpo Globetrotter ·
Then, in my case, my payment card for abroad is a bit special—I get charged more if I make withdrawals.

That’s more or less the case with all cards. They either allow a few free withdrawals (e.g., 3 with Bourso) or a fee-free amount (e.g., 200 € with Revolut), but after that, it’s pay-to-play. Still way cheaper, though, than traditional bank cards.

(I won’t go into details, it’s not interesting)

Oh, but there are people here who *love* this stuff.
TA Tatra Globetrotter ·
From a distance, it seemed like a simple decimal system to me; I didn’t think it was worth looking into further.

I’m not talking about that. When you use a different currency, you realize there are symbolic values—everyday reference points. A particular coin or bill becomes tied to specific uses or exchanges in daily life. Cash isn’t just about arithmetic. But hey, if you’re only there to "visit" this or that thing, this or that monument without diving deeper into the culture or society, then sure, you can skip caring about it.

With a bunch of Hungarian stamps in my youth, I only managed to learn two words. Yo, post and Hungarian. If it’s just to add bank...

No, you’re still missing the point. You don’t just "translate" like that, mechanically—especially not with a language like Hungarian.

Anyway, we won’t see eye to eye; we don’t have the same expectations when approaching a country or culture.

Michel
TA Tatra Globetrotter ·
Hi Miranda,

Yeah, I’m not a big fan of handling money, counting it again, etc., to begin with. I’m scatterbrained—I’ve already lost money that way. And with foreign currency, finding the right coin, etc.

I always bring back a little money anyway—coins, a few bills—as a souvenir. Plus, I always keep a small stash. Right now, I’ve got forints, Turkish liras, Romanian lei, and yen. I take them along from trip to trip if the country is more or less on the way, or as a currency reserve (like with the yen).

For cards, I often assign a specific bank card to a currency during a trip: Fortuneo for forints, Boursobank for Czech korunas, Axa for online purchases and bookings without payment, and Monabanq for euro expenses.

There you go—you’ve got the details 😏.

Michel
MA Manondugard Regular ·
Hello, Everyone has their own way of traveling and their own way of paying. Except that often, circumstances dictate the rules. In April 2024, I was in China, and I had been warned that these old payment methods (bank cards) were already outdated, and that’s true. Even in small villages, you only pay using apps with QR codes—the merchant has their own QR code. For cash, in a village in Fujian, to buy a bottle of water, the shopkeeper checked an old coffee tin to see if she had change for me!! On the other hand, I always carry local cash in other countries like Vietnam, Cambodia, Indonesia, and Africa, for example, because in remote areas, there isn’t always electricity, so no card payments. And tourists are forced to turn back. Plus, I can confirm that paying in local currency gives you a better exchange rate. It’s glaringly obvious in Cambodia. Like Manon, I travel with cash, and my bank card is really just for emergencies. And it’s helped me avoid hassles on off-the-beaten-path routes. Everyone has their own travel style. The important thing is to come back happy.

Hello everyone, I’m genuinely happy when I return from my trips and see on my bank statement that absolutely no fees have been charged. And for good reason—I pay for everything in cash, which isn’t really the French way when you see that in Italy you can pay in cash up to 5,000 € (and in Germany, you can even buy a house paying entirely in cash 🤑).
MA Masterpo Globetrotter ·
I’m genuinely thrilled when I get back from trips and see that absolutely no fees have been deducted from my bank account. And for good reason—I pay for everything in cash

Well, obviously there aren’t any fees deducted from your bank account, since the exchange fees and commission are taken when you convert the €! It’s like saying that thanks to payroll withholding, you no longer pay income tax…

But with a BEL bank card (not a traditional bank), there are no exchange fees or commissions—before, during, or after. Plus, the card is free.
TA Tatra Globetrotter ·
... Just a tiny bit, actually, but banks like Fortuneo explain it for every transaction. Every time I use my Fortuneo card outside the eurozone, I get an email like this within a minute:

Authorization of 3,070 HUF, which is 7.84 € with your Fortuneo bank card 51XXXXXXXXXXXXX. Mastercard exchange rate applied: 1 € = 391.6 HUF (0% compared to the ECB reference rate of 1 € = 394.5 HUF), resulting in fees of about 0.1 € or 0% of the total estimated transaction amount (0 Fortuneo fees).

Michel
MA Manondugard Regular ·
I’m genuinely thrilled when I return from trips and see on my bank account that absolutely no fees have been charged. And for good reason—I pay for everything in cash.

Well, obviously there are no fees taken from your bank account since the exchange fees and commission are deducted when you exchange the €! It’s like saying that thanks to payroll withholding, we no longer pay income tax...

However, with a BEL bank card (but not from traditional banks), there are no exchange fees or commissions, whether before, during, or after. Plus, the card is free.

I think there’s been a misunderstanding. When I travel to any country, I always bring euros and exchange them at banks offering the most economical rates. Best regards,
HE Henon21 Veteran ·
Hi there, Of course, no commissions or exchange fees, but it all depends on the rate applied. They still need to cover their costs and make a profit. Same in Vietnam at small exchange offices or jewelry shops—low operating costs mean better rates than banks or ATMs. A long time ago in Hong Kong, street exchange rates were much better than the official rate. They preferred to exchange at a slight loss but had cash to lend to local street soup vendors at 10% daily interest!!! That’s where the real profit was. Eric
MA Masterpo Globetrotter ·
Just a tiny bit, actually

Yeah, we agree—just a tiny bit. For example, Revolut charges 3070 HUF at 7.81 € (right now), while XE lists them at 7.77 €. Yes Change, on the other hand, asks for 8.13 € (on their site, maybe less in person).
MA Masterpo Globetrotter ·
We didn’t understand each other.

This time, *I’m* the one who doesn’t get how this sentence is put together…

Since I always bring euros when I travel, no matter the country, I exchange them at banks that offer the best rates.

Even the cheapest cash exchange is still pricier than using a card like Fort7neo, Boursobank, Revolut, N26, etc.
MA Masterpo Globetrotter ·
In Hong Kong, street exchange rates were significantly better than the official rate.

Of course, the black market is, by definition, more attractive than the official rate.

I fondly remember pre-Gorbachev USSR, where you could get twice as many rubles on the street as in exchange bureaus. Though afterward, the problem was spending them...
HE Henon21 Veteran ·
Hi there, we couldn’t buy anything with it.

I remember back in 1979 in the USSR, street exchange rates were even more than twice as good!! But afterward, you could only spend rubles on street ice cream, metro tickets, or a few rare items at the "Goum" on Red Square. Everywhere else, you had to pay in foreign currency... and you couldn’t exchange them back before heading home.
MA Masterpo Globetrotter ·
Indeed, I remember back in 1979 in the USSR, street exchange rates were more than twice as good!!

Yes, exactly. Twice was the initial rate you could get—30 rubles for 100 FF instead of 15. But quickly, after some haggling, it went up to 50, then 60, and even a bit more toward the end.

And afterward, you could only buy ice cream on the street, metro tickets, and a few rare items at the "GUM" on Red Square with rubles. Otherwise, you had to pay in foreign currency everywhere... and it was impossible to exchange them back before going home.

We’d have caviar & vodka evenings!
AT Attila Globetrotter ·
The cheapest exchange rate is still more expensive than the rate you get with cards like fort7neo, Boursobank, Revolut, N26, etc.

You’ll never convince a believer they’re wrong. 😉

There’s no logic in dogma.

That said, once in a blue moon, you might stumble on a good deal and save 2 or 3 euros... out of 1000...
MA Manondugard Regular ·
We didn’t understand each other.

This time, I’m the one who doesn’t understand how this sentence is constructed...

Since I always bring Euros when traveling to any country, I exchange them at banks that offer the most economical option.

The cheapest exchange rate is still more expensive than using a card like Fort7neo, Boursobank, Revolut, N26, etc.

Could you specify which card—Revolut, Fort7neo, Boursobank, or N26—so we can actually have this conversation? I still insist that exchanging my Euros in a city exchange bureau abroad all at once for an entire stay is cheaper than using a card, because the larger the amount exchanged in one go, the lower the fees. No specific card example = no way to compare. Best regards,

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