Best places to exchange currency in Berlin

Germany’s capital, Berlin, caters to a varied range of interests, from art and history to culture and nightlife. No matter what you’re planning on doing in Berlin, you’ll need some euros in your pocket.

To get your travel cash you could either exchange dollars to euros in a physical store in Berlin - or grab a handy travel money card like the Wise card, which you can use for ATM withdrawals on arrival.

This guide covers both the best places to exchange USD to EUR in Berlin - and how a travel card can help make spending overseas easier and cheaper.

Where to exchange money in Berlin

Every currency exchange place will charge a fee either upfront or hidden in their exchange rate. Check the live mid-market rate and compare this to tourist rates on offer to determine the fairest deal.

Or pick up a travel card like the Wise card to make life even easier. Below are some in-person exchanges in Berlin that you could choose if you’d prefer to carry and exchange cash to Germany.

Before you exchange money in Berlin

1. Make sure you know the actual exchange rate

It pays to do your homework before you travel, to refine your understanding of exchange rates. The important rate to grasp is the mid-market exchange rate.

This is the rate which you’ll find on Google® or Xe.com®. Unfortunately, you’ll not be offered this rate at an exchange bureau. Typically, they advertise their own exchange rates which are lower than mid-market.

You can check the offered tourist rates against the mid-market rate using an online currency converter. This’ll help you calculate the hidden fees, which you can combine with any upfront fees to calculate the true cost of your exchange.

Remember - exchange rates always change

Exchange rates can fluctuate constantly, with popular currency routes usually changing more frequently. Rates can be affected by economic or political decisions as well as other external factors.

Keep an eye on exchange rate trends using a rate tracking tool, so you’ll know how the market is moving at the time you want to buy EUR. With this knowledge, you may be able to choose a favorable time to exchange your money.

2. Learn about your bank’s partnerships before you leave the US

Find out if your bank has an international partner operating in Berlin. If they do, you may be able to withdraw money from the partner bank’s ATM for free or at a discounted fee.

Check this with your home bank before you leave and be sure to advise them you’ll be traveling and using your card overseas.

An ATM is a convenient way of accessing your money while in Berlin. You’ll usually get a fairer rate than is offered at an exchange bureau, but bear in mind you’ll still be charged a fee for each withdrawal.

So plan ahead and make one or two larger transactions instead of many smaller ones, as long as you’ve got a safe place to keep your cash, like a hotel safe.

3. Always choose to be charged in the local currency to avoid DCC

When withdrawing cash from an ATM, always choose to be charged in the local currency. Selecting the alternate option (being charged in your home currency), means you are allowing the ATM to apply its own exchange rate to the conversion.

This rate is usually not in your favor and you’ll likely also be charged an extra fee for this service. Opt instead to be charged in EUR, without any conversion by the ATM, to ensure you save on fees.

4. Avoid airport and hotel currency exchanges as much as you can

Avoid exchanging money in airports and hotels. They are servicing a captive market, and their high fees and poor exchange rates reflect this.

If in need of immediate cash, change what you require to get by until you have access to more centrally located tourist bureaus. The competition in these areas will usually drive a fairer deal. Alternatively, withdraw EUR directly from an ATM run by a trusted operator.

5. Try to spend your money before leaving

Budget well for your trip so you can calculate how much money you’ll need to convert. If you have leftover Euros and change it back to your home currency, you’ll be paying conversion charges twice.

Spend the cash instead, especially the coins, or keep the money for your next trip into Europe.

Exchange money in just a few clicks with Wise

Wise can help you get a better deal on currency conversion in over 40 currencies, with the mid-market exchange rate and low fees from 0.41%.

Open a free personal Wise account online or in the Wise app, and order a linked debit card for spending and withdrawals in 150+ countries.

There’s no fee to spend any currency you hold, and no foreign transaction fee to worry about.

Use your account when you travel or shop online in foreign currencies, send payments to 70+ currencies, and get your own local account details to get paid from 160+ countries.

Say goodbye to overcomplicated currency exchange.

Say hello to Wise

If you plan to convert cash at an exchange bureau in Berlin, be sure to check the tourist rate against the mid-market rate. Add the exchange rate markup to any upfront charges advertised to determine the fairest deal.

Better yet, use Wise and get a Wise card for spending and to make low or no cost withdrawals at ATMs on arrival.

Not only does Wise use the mid-market exchange rate to convert your money, you can also get 2 ATM withdrawals monthly to the value of 100 USD for free before Wise’s low withdrawal fees* kick in. That can mean you’ve got more to spend on exciting experiences during your trip to Berlin.

Wise will not charge you for these withdrawals, but some additional charges may occur from independent ATM networks