Before leaving on a trip, many of us wonder whether we should carry cash or use our cards. And if we are travelling to a country that does not have the euro as its official currency, the question arises as to which is the best option to get the best exchange rate. Sara Casals, junior product manager at 11Onze, answers these questions.

The custom and ease of paying by card or directly from a mobile phone are part of our daily lives thanks to the digital revolution of recent years. Even so, not all countries follow the same pace of development as our financial system, and we may find that the country we are travelling to does not have an extensive network of cash machines or the same facilities for paying with a card in all commercial establishments.

As Sara Casals points out, “you have to bear in mind that in many countries, card payment is not so widespread, and you won’t find a cash machine on every corner“. On the other hand, there is also a security issue, “the practice of stealing bank card data is widespread depending on the country”, says Casals.

Before making a currency exchange, you have to remember that it is not the same to make the change by withdrawing money from your bank as from a cash machine in the country of destination, or changing currency at the airport. As Casals explains, “the exchange rate offered by our banks is extremely abusive, and the same happens if you change money at the exchange bureaux at the departure airport“.

Therefore, the best thing to do is to change money at your destination. But where do I change it? The 11Onze product manager recommends “avoiding airport exchange offices” and looking for establishments that offer a more favourable exchange rate and lower commissions. Even so, she warns us that some exchange houses advertise that they have no commissions, but then offer a less favourable exchange rate.

11Onze is the community fintech of Catalonia. Open an account by downloading the super app El Canut for Android or iOS and join the revolution!