Financials
Both Germany and Austria have strong cultural preferences for cash, but card usage is increasingly growing and are common in large cities.
We recommend keeping about €50 in cash on your person including small coinage (50 cents to €1) for public restrooms.
Small shops and stalls will likely prefer cash as well.
Do not recommend:
Airport kiosk exchange
Paypal
Cash advance on credit cards
non-bank/third party ATMs
just anywhere on the streets
These tend to not give good consumer rates.
Banks
Check with your bank and order currency in advance for the best exchange rate. They will also let you specify small or large bills!
Other articles state that this gives less favorable than just using ATMs abroad.
Credit cards
Most banks prefer that you give notice of when and where you travel so that your transactions are not flagged or blocked.
Ask them about foreign transaction fees and exchanges, we hear there are plenty of good travel cards offered.
Pay in the local currency when asked.
ATMs
Check with your card-issuing bank for any fees they may charge for withdrawals of foreign currency or using an ATM.
Always decline conversions and withdraw only in euros.
Use bank owned ATMs and avoid third party machines.
Wise
Christina here, and I have been personally using Wise to hold multiple currencies with the lowest fees and best exchange rates.
You can directly link your debit account to exchange. Wise can even issue you a digital debit card that you can add to ApplePay!
This is also a good way to save up over time by taking advantage of good exchange rates and converting your USD to Euros.
Other popular and similar options in the fintech world are: Remitly & Revolut.
Use this link since it will give me some kickback for 3 signups!
Financial etiquette
When using card, please specify the card type: Visa, Mastercard, etc. (American Express is less common and not as widely accepted in Europe)
Tipping culture is not as egregious here as in the USA, but a little something is always appreciated!
In Germany, when paying with card, state the total amount you wish to pay or leave the tip in cash.
In Austria, rounding up or adding 5-10% is customary although not mandatory.
Examples:
Total = 42.50, Give 45.
Read more on this travel blog article.
