Best Place to Buy Euros in the UK: Insider Tips for Exchange, Fees & Ordering Euros Online in 2023
Guide
A writer and editor at Monito, Jarrod is passionate about helping people apply today’s powerful finance technologies to their lives. He brings his background in international affairs and his experiences living in Japan to provide readers with comprehensive information that also acknowledges the local context.
Reviewer
Monito's Managing Editor, Byron has spent several years writing extensively about financial- and migration-related topics.
Links on this page, including products and brands featured on ‘Sponsored’ content, may earn us an affiliate commission. This does not affect the opinions and recommendations of our editors.
Read moreLike the United Kingdom, the EU has transitioned to cashless payment systems. While you may need cash for small-town bus systems, corner stores, or tipping, most vendors of all kinds across all sectors in the Eurozone accept digital payment.
This is why our reviewers here at Monito will explain why going digital is the best way to buy euros in the UK before your holiday. You can say goodbye to traditional euro cash changers like the post office euro exchange, Tesco, M&S, and Sainsbury's, who advertise zero commissions but charge high hidden exchange rate margins.
We think Starling Bank is the best way to buy Euros in the UK. As one of the best-known, licensed digital banks in the UK, Starling Bank offers multi-currency accounts in GBP and EUR, which are perfect for currency exchange, travel, or making international transfers. You can digitally access your euros and Pounds on your desktop or smartphone or with a physical debit card (with no foreign transaction fees when you're spending abroad)!
We will find that Starling Bank is not only one of the cheapest option to buy foreign currency, but also one of the most convenient ones. And if you still want to buy euros in cash before your flight, then we offer other euro exchange alternatives with euro rates that are superior to the high street.
How to Buy Euros in the UK
- 01. The best way to get the best euro exchange rate
- 02. Where's the best place to buy euros before my trip?
- 03. Compare the best euro exchange rates from leading providers
- 04. How can I order Euros online in the UK?
- 05. How do I sell back my leftover euros?
- 06. FAQ about the best place to buy euros online
Heading to Europe soon? Don't forget to check the following list before you travel:
- 💳 Eager to dodge high FX fees? See our picks for the best travel cards in 2023.
- 🛂 Need a visa? Let iVisa take care of it for you.
- ✈ Looking for flights? Compare on Skyscanner!
- 💬 Want to learn the local language? Babbel and italki are two excellent apps to think about.
- 💻 Want a VPN? ExpressVPN is the market leader for anonymous and secure browsing.
How Do I Get the Best Euro Exchange Rate While On My Trip?
Many British travellers enjoy holding cash euros in hand while in the United Kingdom prior to their flight to Europe. Whether you exchange your pounds for euros at a high-street bank, online money changer, or bureaux de change, these methods are actually neither the most cost-effective or most convenient ways to get euros.
Spend With Cards, Not Cash
Credit and debit cards that charge no foreign transaction fees are by far the cheapest ways to spend while you travel. This is because the exchange rate that MasterCard or Visa applies to your card purchases is negligibly small — about 0.2% weaker than the real mid-market exchange rate.
In contrast, if you had spent cash euros that were exchanged with the post office euro exchange rate or the euro exchange rate at Tesco, M&S, Travelex, or Sainsbury's, then you may have suffered from an exchange rate around 5% weaker than the real exchange rate.
Get Cash Euros From ATMs in Europe
By the same token, take out cash euros at ATMs with a card that waives foreign transaction fees if you need cash. The minor inconvenience of paying €2 to €5 in ATM withdrawal fees is better than getting hit with hidden fees from UK money changers.
Here are a few UK debit cards that will lower the costs when you need to take out cash with ATMs in Europe:
Starling Bank
Starling Bank's debit card is an excellent choice for a travel card, not only because card payments are widely accepted across the Eurozone. Starling Bank also waives all foreign ATM fees. You may still be charged by the local ATM provider, but at least Starling Bank will never hit you with its own fees for using ATMs abroad.
Moreover, you can open a Euro currency account for free and access your Euro balances from the debit card. Starling Bank never charges monthly fees or fixed fees for currency exchange. You will always get the real mid-market exchange rate applied to your transfers and will pay an excellent 0.4% markup (as of May 2023). Even better, you can receive Euros for free with this account too.
Monzo
Monzo's coral debit card charges zero foreign transaction fees. For international ATM withdrawals, Monzo gives you a free limit of £200 every 30 days but charges you 3.00% of the amount withdrawn afterwards.
What's the Best Card For Getting Euros in the UK?
Compare UK debit cards Starling Bank and Monzo, which have no foreign transaction fees, with multi-currency cards Wise and Revolut, which allow you to hold multiple foreign currencies on one debit card.
Best Way to Get Euros in the UK Before Your Trip
While travel debit cards that offer no foreign transaction fees are the most cost-effective way to spend abroad, Monito has found multi-currency cards to be far and away the best way actually to hold euros. Keep euros in your online multi-currency account and spend them in the Eurozone like any other local.
This can be done in the comfort of your home. Wise and Revolut are among the best in their industry and are both available to customers in the United Kingdom.
How the Revolut Multi-Currency Card Works
The Revolut Multi-Currency Card offers multi-currency debit cards to customers when they sign up. Your card should be shipped to you within 7 business days, so plan this ahead of your trip if possible:
- Link your UK bank account details to the multi-currency account;
- Top up Pound sterling into the account online or by mobile app;
- Convert your pounds into euros for an industry-low exchange rate margin;
- Pay zero fees per conversion (under the fair use limits);
- Use your card in the Eurozone with no foreign fees.
Avoiding Fees When Buying Euros in the UK
When you convert your pounds into a foreign currency, such as the euro, foreign exchange service providers will charge you two kinds of fees:
- Exchange Rate Margin: Providers apply an exchange rate that is poorer than the true "mid-market" exchange rate. They keep the difference, called an exchange rate margin.
- Commission Fee: This fee is usually a percentage of the amount converted, which is charged for the service provided.
Even if you have a travel credit card that charges no foreign transaction fees, Visa and Mastercard's exchange rate does not perfectly match the mid-market rate. Each time you spend money abroad, you will not be spending as efficiently as if you were holding actual euros.
We recommend using these cards at point of sale at restaurants and other purchases. If you really need cash, try to stay under their monthly free ATM withdrawal allowance.
Revolut
Revolut is an excellent choice for a multi-currency card because it also applies an industry-low euro exchange rate. However, it adds a markup on weekends. Commission-free conversions are limited to £1,000 for Standard and Plus plan customers. A 0.5% fee will be applied for the amount exceeding the limit. That allowance increases if you upgrade memberships.
Revolut allows you to withdraw up to €200 per month from ATMs without imposing their fees. After that, there will be a 2% fee per withdrawal.
Wise
Unlike banks, credit unions, airport kiosks, and foreign ATMs, Wise is transparent about never charging a hidden exchange rate margin when you convert your pounds into euros (and 51 other currencies). The live rate you see on Google or XE.com is the one you get with Wise. An industry-low commission fee will range from 0.35% to 2.85%. GBP to EUR transfers generally incur a 0.6% fee.
Wise allows you to withdraw €200 per month from ATMs. After that, they will charge 1.75% per cash withdrawal.
Best Euro Rate on the High Street?
As you might have guessed, there really is no "best" Euro rate on the high street once you've seen the world of better options. While getting euros in cash is cheapest if you use your debit card at an ATM in Europe or open a multi-currency account with Revolut, you have several options to get euros in the UK before your trip.
1. Money Transfer Services
If you prefer cash pickup and cash delivery, then have a look at Transfergo and Paysend. They both ranked as the top two cheapest options for GBP to EUR exchanges from August 2021 to August 2022, according to Monito's comparison engine.
Money transfer services often offer cash pick-up and cash delivery so that you can hold physical euros before your trip. They may charge commission fees and exchange rate margins when converting pounds to euros. However, these specialists will almost always be cheaper than converting currency at a high-street bank or an airport bureaux de change:
TransferGo
Small World
2. GBP-EUR Exchange Rate at the Post Office or a High-Street Bank
Despite commonly heard advice, the post office and the high street have become outdated money transfer providers. New companies are offering innovative ways to obtain foreign money cheaply and digitally.
We found that UK Post Office was converting £1 GBP into €1.139 EUR even though the mid-market exchange rate was at £1 GBP = €1.184 EUR*. That's 3.8% weaker than the mid-market.
*Exchange rates recorded on 25 August 2022 11:15 CEST.
3. Airport Bureaux de Change
Bureaux de change at airports in the United Kingdom is convenient for last-second exchanges before you head off on your travels. They charge huge exchange rate margins and hefty commission fees. We've seen margins exceeding 10%. Airport kiosks should be avoided at all costs.
If you need euros in cash for your travels, Monito recommends that you withdraw cash from an ATM in Europe with a card that charges zero foreign transaction fees. The exchange rate margins will almost certainly be smaller, and the cash withdrawal fee charged by the ATM should amount to a minor inconvenience of €2 to €5.
How To Order Euros Online for Delivery in the UK
The multi-currency account offered by Starling Bank remains the best way to convert your Pound sterling into euros and hold euros digitally for your travels.
However, foreign exchange services do run online platforms, which you may use to purchase Euros. Some offer travel cards while others offer cash pickup or delivery.
Money Changers: Tesco, M&S, Travelex, Sainsbury's, etc.
UK money changers often advertise their zero commission fees, which is a real plus. However, the exchange rate they use to buy your pounds and sell you euros will be weaker than the mid-market exchange rate.
While the Post Office's 3.8% margin is average, these companies may take more. Their rate schedules will fluctuate day by day.
You can usually order euros with money changers in one of three ways:
- Order euros in-store;
- Buy euros online and collect them the next day;
- Same-day collection.
One such brick-and-mortar provider is Travelex, a worldwide bureaux de change found in airports worldwide, which we have reviewed on Monito. The pound-to-euro exchange rate is usually better online, giving you more euros for your pound sterling. They have a travel card, which you can use to hold several currencies simultaneously.
Change Group
With Change Group, you can order euros online and pick them up at the airport, train station, or a Change Group branch just before you leave for Europe. A few pick-up locations include:
- London centre (multiple locations),
- Glasgow centre,
- Oxford centre,
- Luton Airport,
- Gatwick Airport,
- St. Pancras Station.
Although its exchange rates aren't quite as good as using a low-fee debit card like Starling Bank or Revolut, Change Group's GBP-EUR rate of around 2% to 3% is still a lot better than you'll get if you exchange your sterling for euros at the bank or at a touristy bureau de change in the middle or Paris or Prague. In short, if you're looking to buy a wad of physical euro banknotes, then there are few better options than Change Group!
How to Sell Your Leftover Euros
If you have leftover physical euros, you can always store them up for your next trip to Europe or you can sell them back to banks and money changers in the UK. However, the rate that these money changers will use to buy back your euros will be much weaker than the real mid-market exchange rate. And they don't always buy back loose change, such as if the amount is under €100.
Holding too many euros at the end of your trip often happens because you overestimate how much you need when you order cash online. If you use a foreign transaction fee-free card or a multi-currency card to make purchases instead, then you'll never have to worry about carrying idle change.
That's why in the few cases that you need cash for tipping or for bus rides, we recommend using travel debit cards that offer fee-free monthly allowances for ATM withdrawals. Take out €100 or €200 in cash at a time, but rely on digital card payments for the rest of your holiday.
If you do come home with leftover euros, Change Group, which we looked at above, also offers a buy-back guarantee, letting you sell your euros to them at decent (although not great) exchange rates.
A great feature with multi-currency accounts like Starling Bank, Wise, and Revolut is that any leftover euros you have at the end of your trip can be converted online to any other currency you want at the real mid-market exchange rate, minus an industry-low fixed fee. That money will still be accessible from the very same card.
FAQ About Where to Buy Euros in the UK Online
Where should I buy Euros in the UK?
The experts at Monito recommend that travellers use debit cards without foreign transaction fees, like Starling Bank or Monzo, to get cash from ATMs in Europe.
Multi-currency travel cards are a great alternative too. These cards, offered by companies like Wise and Revolut, allow you to convert your pounds into euros in the UK at or near the real market rate. Hold those euros on a card so that you can spend like a local in Europe.
How do I get the best euro exchange rate?
Experts at Monito recommend that you consider Starling Bank. Convert your pounds into euros digitally at a very low euro exchange rate and access the euros with your card.
Since European vendors have widely transitioned to cashless payments, multi-currency options are booming in popularity over cash exchange.
Is the Post Office euro exchange rate good?
The post office euro exchange rate is generally stronger than the euro exchange rate offered by high street banks, Tesco, M&S, and Sainsbury's. However, multi-currency accounts like Starling Bank, Wise and Revolut are unmatched because they often use the real mid-market exchange rate to change your pounds to euros.
Is it better to buy euros in the UK or Europe?
The experts at Monito recommend travellers purchase euros with Starling Bank, which applies the mid-market rate, regardless of if you are in the United Kingdom or in Europe.
Foreign exchange services, banks, and airport kiosks markup their rates without a transparent schedule. You will lose money if you present your pounds to either a bank in the UK or a bank in the Eurozone.
Can I get euros at a UK Bank?
Yes, you can but this is one of the most expensive and inconvenient ways to get euros in the UK. Banks and bureaux de change apply very weak exchange rates on your pounds. The experts at Monito recommend you use a debit card without foreign transaction fees and no ATM fees, like Starling Bank or Monzo, during your trip instead.
If you need to hold Euros prior to your trip, then consider a digital multi-currency card like Wise and Revolut.
How do I get euros before I travel?
- Open an account with a multi-currency card like Starling Bank, Wise or Revolut;
- Top up pounds on your account;
- Convert your pounds into euros;
- Spend like a local with your card during your travels.
Since much of Europe runs on cashless payments these days, you may also want to consider debit cards that waive foreign transaction fees like Starling Bank or Monzo. This is much more convenient than using cash because you do not need to bring home excess foreign cash. Plus, the exchange rate that Visa and MasterCard uses is much stronger than the rate that a UK bank will give you.
Where can I use my euros?
The following countries accept the euro:
Austria
Belgium
Cyprus
Estonia
Finland
France
Germany
Greece
Ireland
Italy
Latvia
Lithuania
Luxembourg
Malta
Netherlands
Portugal
Slovakia
Slovenia
SpainIs the euro exchange rate at Tesco, Sainsbury's, and M&S good?
Not usually. Purchasing euros online with supermarkets and exchangers like M&S may be convenient ways to get cash delivered to you, and will be cheaper than banks and airport kiosks.
But the best way to ensure you get the best deal for your exchange is to check the mid-market exchange rate, which is the one you see on Google or XE.com. Then, use Monito's comparison engine to compare money transfer services that have the best euro exchange rate in real time and the lowest fees.
When is the best time to buy euros?
The answer will always depend on your relative timeframe. August 2022 was an excellent time to buy euros because the pound was nearing a 5-year high against the euro. However, if you compare the pound - euro rate of August 2022 to August 2015, then it was relatively unfavourable because the pound's 10-year high was in the summer of 2015.
Instead of trying to time the market, get the best euro exchange rate when you spend in Europe by using a debit card without foreign transaction fees, like Starling Bank or Monzo, or a multi-currency travel card like Wise and Revolut.
Other Monito Guides on Travel Money in Europe
References Used In This Guide
1. Cash Withdrawals. Starling Bank. Accessed 25 August 2022.
2. Wise Calculator. Wise. Accessed 22 June 2022.
3. Revolut Calculator. Revolut. Accessed 22 June 2022.
4. Visa Exchange Rate Calculator. Visa. Accessed 22 June 2022.
5. MasterCard Exchange Rate Calculator. MasterCard. Accessed 22 June 2022.
Why Trust Monito?
You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.
Monito is trusted by 15+ million users across the globe.
Monito's experts spend hours researching and testing services so that you don't have to.
Our recommendations are always unbiased and independent.