Should i pay in euros or dollars
It is always better to pay in local currency. Even if your bank does not charge fees, the bank of the shop is making a profit by setting an unfavourable exchange rate. Ask how much they would charge in € and how much in $ and than do the math which is better for you.
Is it cheaper to pay in euros?
“When asked, always pay in euros (or the local currency). “If you pay in pounds the overseas bank/store will do the conversion, and their rates tend to be awful. “Pay in euros is far safer as your bank will do the exchange – and that is usually at least as good if not better.”
What is the best currency to pay in when abroad?
It is one of the most frustrating traps holidaymakers face when using their debit or credit cards abroad. The correct answer is always to choose the local currency of the country you are in — so euros if you’re in the Eurozone, dollars in the U.S. and so on.
Should I pay in foreign currency?
Typically you are better off opting to pay in the local currency, rather than converting to Sterling as you make the purchase. If you pay using the local currency, the transaction will then be converted into Sterling at the Mastercard, Visa or Amex own rate.
Should I pay in sterling or euro?
When you choose to pay in euros your bank or credit card company work out the currency conversion for you. If you opt to pay in the pound then this calculation, known as the dynamic currency exchange, is left up to the foreign bank, shop or restaurants bank. It means you could end up paying a much worse rate.
Should I pay in local or foreign currency?
Always pay in the local currency
Always choose to pay in the currency of the country you’re buying from — in this case USD. If you choose to pay in your home currency and let the merchant convert it, you could be paying a 8% Dynamic Currency Conversion (DCC) fee.
Is it cheaper to exchange money at home or abroad?
Although this depends on many factors, including which currencies you want to convert and which country you are travelling to, generally speaking exchanging your money AFTER you travel will provide you with a more favourable exchange rate. The rule is simple: the more common the currency is, the cheaper it will be.
Can I pay in euros on my credit card?
It’s mostly legal. The practice is called “dynamic currency conversion,” and it is not your friend. It works this way: You go to pay your dinner check in, say, France. The merchant asks whether you would like to pay in euros or dollars.