Money Matters

Money Matters

Picture showing a wallet | © photocase

Source: Picture showing a wallet | © photocase

Currency, Exchange Rates and Means of Payment

The ''Euro'' is the official currency in Germany as well as 16 other European countries including: Austria, Belgium, Cyprus, Finland, France, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Spain, and, as of January 1, 2011, Estonia. Thus, for trade and travel between these countries currency exchange is no longer necessary.

The European Central Bank (ECB) publishes Euro foreign exchange rates daily on its website. With the help of several online tools, you can also convert Euro amounts into other currencies and vice-versa.

Major credit cards are widely accepted at tourist destinations displaying the cards' logos. Additionally, an extensive network of ATMs is available, which usually accept at least VISA, Mastercard, Maestro and ec-cards. Traveler's Cheques are less common, but they can be cashed at banks and exchange offices. Travelers from EU countries can also profit from the simplified payment and transfer procedures in place in the Single European Payment Area.