Exchanging foreign currencies into euros.

Perhaps your trip abroad has just ended and you still have some banknotes and coins in foreign currency lying around that you would like to exchange into EUR. Or maybe you have sold a house abroad and now want to convert the proceeds.

In this article, you’ll learn how to exchange foreign currency into EUR - which options are available and what are the costs involved. You’ll also learn more about Wise as a low-cost option for international transfers.

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The best ways to exchange foreign money into euros

There are several options available for exchanging foreign money into EUR. What is the best option for you mainly depends on whether the money is held digitally in an account or in cash.

If you have cash, you can exchange it in the following ways:

💡 Bank branches:

Almost all bank branches buy foreign currency. However, the purchase rates are usually significantly below the real mid-market exchange rate, as the bank has to cover the effort of storing and reselling the foreign currency.

In some cases, this service is only available to the bank’s account holders, or an additional fee is charged. Not all foreign currencies are always accepted either. For example, Sparkasse KölnBonn only buys USD, CHF, and GBP, and the service is only available to customers.¹

💡 Reisebank:

Reisebank is a bank that specializes in handling foreign currencies. One of its services is exchanging foreign currencies into EUR. There are over 80 branches available across Germany.

Reisebank also offers a Premium Money Back Guarantee, which allows you to exchange your money back at the original rate without fees if you had previously exchanged between 400 EUR to 1.000 EUR into foreign currency within the last 30 days.²

However, depending on the currency, Reisebank may apply higher or lower markups on the exchange rate.

💡 Currency exchange offices abroad or at airports:

Finally, exchange offices at airports or abroad are also an option for converting foreign currencies into EUR. However, you may not be able to exchange coins and the exchange rate is often unfavorable.

If instead your foreign currency is held as a bank balance, there are other options:

💡 Transfer to your domestic bank account:

You can usually choose whether the sending bank transfers the money in foreign currency or in EUR. You should decide based on which bank offers the better exchange rate.

💡 Specialized providers such as Wise:

With a specialized provider like Wise, you can also exchange foreign currencies into EUR. You usually benefit from lower fees and faster processing than with a traditional international bank transfer.

Fees and exchange rates: what you should pay attention to

In general, exchanging money into another currency always involves costs.

If you’re looking to exchange foreign money into EUR and a provider advertises zero fees, you can be sure they make money elsewhere — through a markup on the exchange rate.

That’s why you should look beyond the stated fees when comparing options. The fees shown are often relatively low, for example, Reisebank caps them at around 10 EUR. However, it’s more important to calculate the final, actual amount you will receive.

Also pay attention to whether you receive a constantly updated exchange rate or whether the rate is fixed once per day — the latter is common practice at banks.

The real exchange rate without markup is called the mid-market exchange rate and roughly corresponds to the rate you see on Google when you look up, for example, USD to EUR exchange rate.

Comparison: traditional currency exchange vs. using Wise

Below is a comparison of different ways to exchange foreign currency into EUR. Transfer conditions at Wise are compared with the currency purchase conditions (cash) of Kreissparkasse Köln and Commerzbank.³⁺⁴

• Prices and fees as of 11 June 2025.

As you can see, Wise gives you more EUR for all currencies compared to Kreissparkasse or Commerzbank. However, the comparison with the banks’ cash exchange costs is not entirely fair, as you cannot deposit cash with Wise.

Ideally, you should therefore convert your cash into digital money while still in the respective country — for example, by giving it to someone who transfers it to your Wise account — so that you receive the best possible exchange rate.

Wise optimizes your international payments

With Wise, you can save money on international payments.

One reason is the multi-currency account, which allows you to hold, send, and exchange money in over 40 currencies and receive money in more than 20 currencies. This makes it possible to receive money directly in foreign currency without needing to exchange it.

Even when a conversion is necessary, costs remain low and transparent. With Wise, you always receive the mid-market exchange rate and pay only a fee starting from 0.47%. The exact fee is shown before every transfer.

With the Wise debit card, you can also make card payments online and in stores — including via Apple Pay and Google Pay. Payments in foreign currency directly from the respective foreign currency balance are free.

You can also withdraw up to 200 EUR per month (or the equivalent) in cash in a maximum of two withdrawals at no cost. After that, a fee of 1.75% plus 0.50 EUR per withdrawal applies.

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How to register with Wise

Registering with Wise is simple and straightforward. Here's how it works:

Step-by-step to your Wise account

💡 Open our website or app:

Whether on your laptop or mobile phone - start via Wise.com or directly in the Wise App.

💡 Choose account type:

Private or business - decide directly or later. Many use both, neatly separated.

💡 Register:

With email and password or via Google, Apple or Facebook. Entirely as you prefer.

💡 Verify:

Upload a valid identification document. For business accounts, additional company information is required.

💡 Confirm address:

Via electricity bill, tax assessment or bank statement - the main thing is: clearly legible and current.

💡 (Optional) Order Wise card:

Directly in the Wise App - physical or digitall. Perfect for travel, online shopping or spontaneous foreign currency expenses.

💡 Our tip:

Immediately set up a few currencies, test the Wise App, and receive your first payments. An account that thinks globally also opens up new possibilities.

Exchanging foreign money into euros: save smart with Wise

There are many ways to exchange foreign money into EUR. If you have cash, you’d usually need to visit a bank branch or an exchange office. In most cases, you’ll receive less money when you exchange cash than if you would convert the money digitally.

If you hold bank balances in another currency, Wise can help you get significantly more EUR when exchanging from a foreign currency. With the multi-currency account, you can receive payments in over 20 currencies and then exchange the money at the mid-market exchange rate, with fees starting at 0.47%.

Start now with your personal Wise multi-currency account 💡

FAQ

Which bank exchanges foreign currencies?

If you want to exchange foreign money into EUR and have cash, it’s usually possible to exchange the money at your local bank branch or at Reisebank branches. Electronic money can be exchanged via transfer at any bank or you can use a service like Wise.

Where can I exchange foreign banknotes into euros?

Foreign banknotes can usually be exchanged at bank branches. However, many banks do not accept all currencies, and sometimes the service is limited to customers only. It’s best to contact the branch in advance.

Can you exchange foreign money at Sparkasse?

Yes, in principle, you can exchange foreign money at Sparkasse. To find out whether non-customers are eligible and which currencies are accepted, it’s best to contact the bank directly.

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Sources used (as of 11.06.2025):

1. Sparkasse KölnBonn – Schedule of fees and services
2. Reisebank – Easily and safely exchange foreign currencies into euros
3. Kreissparkasse Köln – Counter exchange rates for banknotes as of 11.06.2025
4. Commerzbank – Foreign currency rates