Jazmin Li
Munich Airport is the second busiest airport in Germany, serving millions of travellers from around the world each year. Travellers can exchange currency at the airport in several ways. Currency exchange bureaus, such as Travelex, Reisebank, and Sparkasse, are available at the airport and offer a convenient option for exchanging money. However, these bureaus often charge higher fees and may not provide the most favourable exchange rates. ATMs are also available at the airport, and withdrawing cash in the local currency from an official bank ATM can be a better option to avoid dynamic currency conversion and excessive fees. Additionally, travellers can consider exchanging currency at banks or currency exchange locations outside the airport, such as Money Exchange Germany GmbH, to potentially find more competitive rates and lower fees.
| Characteristics | Values |
|---|---|
| Currency exchange options at Munich Airport | Sparkasse, Reisebank, Travelex, ATMs |
| Recommended options | Official bank ATMs, partner banks, credit cards |
| Options to avoid | Exchange bureaus, dynamic currency conversion |
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What You'll Learn
Currency exchange at Munich Airport ATMs
Munich Airport has several currency exchange options, including ATMs. Germany is an EU member country, and its currency is the Euro. When you arrive at Munich Airport, you will find currency exchange bureaus at both the airport and Munich Heimeranplatz station. However, it is advised to compare the offered exchange rate against the current mid-market rate before exchanging your currency.
ATMs often provide a more favourable exchange rate than exchange bureaus, which typically disguise extra commission in their rates. Using an ATM, you can withdraw cash in the local currency, avoiding the higher fees associated with dynamic currency conversion, where you opt to be charged in your home currency.
The Sparkasse branch at Munich Airport offers currency exchange at reasonable rates, along with other financial services. Their ATMs are located on Street Terminalstr. Nord and are open Monday to Friday from 7 am to 7 pm and on weekends from 9 am to 12:30 pm and 1 pm onwards.
Another option is Reisebank, which provides a range of banking services, including foreign exchange and international money transfers. Their ATMs are located on Street Terminalstr. West, Nord, Nord 1, and Süd 1, and they are open daily from 6:30 am to 9 pm.
Additionally, there are ATMs located in the Munich Airport Center (Lvl 03), in both the pre-security and post-security zones, which are open 24 hours a day, seven days a week. These ATMs provide services such as cash withdrawals and bank statements.
When using ATMs at Munich Airport or elsewhere in Germany, always be mindful of your surroundings and take necessary precautions to ensure the security of your cash withdrawals.
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Currency exchange at Munich Airport banks
Currency exchange bureaus at airports often disguise extra commission into their exchange rate, so it's worth checking how far their offered exchange rate deviates from the real mid-market rate. If you want to avoid this, it's recommended to withdraw money from an ATM or visit a bank.
Munich Airport has several banks that offer currency exchange services, including:
- Sparkasse: This branch offers currency exchange at reasonable rates, as well as cash withdrawals, travellers' cheques, travel insurance, and more. You can find them at Terminalstr. Nord, open Monday to Friday from 7 am to 7 pm, and on weekends from 9 am to 12:30 pm and 1 pm to 6 pm.
- Reisebank: This bank offers foreign exchange and international money transfers. They also handle sales tax (VAT) refunds for Tax-Free Planet / Tax Free Germany / innova Tax Free. They have several locations, including Terminalstr. West, Terminalstr. Nord, and Terminalstr. Süd 1, open daily from 6:30 am to 9 pm.
- Deutsche Postbank: This bank has an ATM located at the Munich Airport Center, Level 3, in the public area of Terminalstrasse. The ATM is accessible 24/7.
- Deutsche Bank: This bank has an ATM in the public area of Terminal 2's post-security zone and Terminal 1's Module E, at Level 3.
- VR-Bank: This bank has an ATM at the MUC Center in the public area of the pre-security zone (Level 3) and is open 24/7.
- HypoVereinsbank: This bank has an ATM at the Munich Airport Center in the public area of the pre-security zone, Level 3, and is also available 24/7.
In addition to these banks, there are currency exchange kiosks at Munich Airport, such as ReiseBank, which offer currency exchange services at competitive rates. These kiosks may charge a commission for their services, so it's important to compare their offered rate with the current mid-market rate.
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Currency exchange at Munich Airport bureaus
Currency exchange bureaus at Munich Airport include Travelex, Reisebank, and Sparkasse. Travelex operates two stores and ATMs at non-Schengen areas of Terminal 1. Meanwhile, Reisebank has branches in both Terminal 1 and Terminal 2. However, some travellers have noted that the exchange rates at Reisebank are not favourable. Sparkasse also provides currency exchange services at reasonable rates, in addition to other financial services.
When exchanging currency at Munich Airport, it is important to be cautious of high exchange fees. Exchange bureaus may charge hidden commissions, resulting in unfavourable exchange rates. Thus, it is recommended to compare the offered exchange rate against the current mid-market rate to ensure you are getting a fair deal. Additionally, consider using an ATM to withdraw money in the local currency, as this can often provide a better exchange rate than exchange bureaus.
If you are looking to exchange a large amount of money, it may be worth checking if your home bank has branches or partnerships with banks in Munich. Partner banks may offer special benefits, such as waived withdrawal and foreign exchange fees. Alternatively, you can wait until you reach your destination and use a local ATM to withdraw cash in the local currency. This can help you avoid the high fees associated with airport currency exchanges.
Overall, while currency exchange bureaus at Munich Airport offer convenient options for travellers, it is important to be mindful of potential fees and unfavourable exchange rates. Comparing rates and considering alternative options, such as using ATMs or partner banks, can help you make the most of your money during your trip.
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Currency exchange rates
Munich Airport has several currency exchange services available, including:
- ReiseBank: Located at Terminal 2, Levels 3, 4, and 5, ReiseBank offers foreign exchange and international money transfers. They also handle sales tax (VAT) refunds for Tax-Free Planet / Tax Free Germany / innova Tax Free. Their daily operating hours are from 6:30 am to 9:00 pm.
- Sparkasse: Located at Terminalstr. Nord, Sparkasse offers currency exchange at reasonable rates, cash withdrawals, traveller's cheques, travel insurance, and other financial services. Their opening hours are Monday to Friday from 7:00 am to 7:00 pm, and Saturday to Sunday from 9:00 am to 12:30 pm and 1:00 pm onwards.
- Munich Airport Center: Located at Level 03, Terminal 2, Arrival area, Munich Airport Center provides currency exchange, foreign currency withdrawal, traveller's cheques, cash transfers, tax and cash refunds, travel insurance, and phone cards. They are open daily from 7:00 am to 9:00 pm.
ATMs are also available at Munich Airport, including Deutsche Postbank and Deutsche Bank ATMs, which offer 24/7 service. Using an ATM can be a good option to obtain local currency, but be aware of any dynamic currency conversion fees, where you are charged more than necessary for the conversion.
To get the best exchange rates, it is recommended to plan ahead and only exchange the cash you need. Additionally, consider using a service like Wise to transfer money ahead of time to a EUR bank account in Munich, as this can help you avoid international bank fees and utilize the mid-market exchange rate.
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Avoiding high exchange fees
Currency exchange at airports can be expensive, with high fees and poor exchange rates. It is recommended to avoid airport currency exchange unless it is absolutely necessary. Here are some tips to help you avoid high exchange fees:
Compare Exchange Rates
Before exchanging your currency, it is important to compare the offered exchange rate against the current mid-market or interbank rate. Exchange bureaus usually advertise rates that are lower than the mid-market rate, as they often include additional commission in their rates. Therefore, even if a bureau claims to have "no commission", be cautious and check how their offered rate deviates from the true mid-market rate. You can find the mid-market exchange rate online or through currency converters.
Use ATMs or Banks
Instead of exchanging large amounts of currency at once, consider using ATMs or banks to withdraw money in the local currency. ATMs typically offer better exchange rates and help you avoid unnecessary fees. If you have access to a EUR bank account in Munich, you can use services like Wise to transfer money ahead of time and take advantage of the mid-market exchange rate. Additionally, check if your home bank has branches or partnerships with banks in Munich, as partner banks may offer waived withdrawal and foreign exchange fees.
Plan Your Cash Needs
It is common for tourists to return home with unused foreign currency, resulting in paying unnecessary exchange fees twice. To avoid this, plan ahead and only exchange or withdraw the amount of cash you need. Additionally, try to spend any coins you receive, as coins cannot be exchanged once you return home.
Avoid Dynamic Currency Conversion
When using your credit or debit card overseas, avoid dynamic currency conversion. This occurs when you opt to be charged in your home currency, resulting in higher conversion fees. Always choose to be charged in the local currency to get a better exchange rate.
Explore Other Options
If you have time before your trip, explore other currency exchange options beyond the airport. Your hotel or nearby areas may have banks or ATMs that offer better exchange rates and lower fees. Additionally, consider creating an account with a service like Wise, which allows you to spend, send, and convert money like a local in multiple countries with transparent fees.
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Frequently asked questions
There are several options for exchanging currency at Munich Airport, including:
- Travelex, a foreign currency exchange company with stores and ATMs at non-Schengen areas of Terminal 1.
- Reisebank, which has branches in both Terminal 1 and Terminal 2. However, be aware that some users have reported bad exchange rates and high fees.
- Sparkasse, which offers currency exchange, cash withdrawals, travellers' cheques, and travel insurance.
- ATMs, which can provide access to local currency without the high fees of exchange bureaus.
Exchanging currency at the airport is convenient, especially if you need cash immediately after landing. It can also be a good option if you want to avoid the potentially high fees of withdrawing cash from an ATM overseas.
Exchange bureaus at airports often have unfavourable exchange rates and may charge hidden fees. It is generally recommended to compare the offered rate against the current mid-market rate to ensure you are getting a fair deal.
Yes, you may find better exchange rates and lower fees by exchanging currency at a bank or ATM in the city. Some travellers also recommend using a credit card or withdrawing local currency from an ATM upon arrival, rather than exchanging cash.
