Best places to exchange currency in Amsterdam

03.04.17
4 minute read
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There are many faces to Amsterdam which will entice visitors of various tastes. There’s plenty to keep you entertained; from strolling the enchanting canals and admiring the creativity of the house boats, to sampling the local Dutch cuisine and hiring a bicycle, to venturing into the red-light district. Regardless of your reason for visiting, you’ll be needing some euros to get by. Here’s our guide to the best places to exchange money in Amsterdam.

Things to know before exchanging your money

Know the actual exchange rate

There’s a lot to organise and remember when you’re going on holiday, even if it's only a weekend break. But it pays to be well prepared. Don’t just explore the guidebook; remember to research how exchange rate works. The important rate to know is the mid-market exchange rate, which falls between the buy and sell rate of any currency. This rate is the real currency value and knowing it helps you to understand which currency exchange offers you the best deal. Our currency converter can be used as a benchmark to compare against other tourist rates on offer.

Remember - exchange rates always change

Many factors can affect exchange rates, such as political, economic and other external influences. Be sure to keep updated on both global and local news before and during your trip to Amsterdam, as this can affect the value of your currency. If you wish to be sent rate alerts according to your currency preferences, you can sign up for our rate tracker tool.

Research your home bank’s partnerships before you leave

If your bank has an international partner you should be able to withdraw money for a reduced fee, or even no fee, when using their ATMs. Check before leaving for your trip, whether your bank operates in partnership with any local banks in Amsterdam. Also be sure to notify them if you plan to use your card overseas, to avoid your card being blocked due to suspicious activity.

Always choose to be charged in the local currency

When withdrawing cash from an ATM, choose to be charged in the local currency. The other option, being charged in your home currency, means the ATM will convert your money at its own rate. This rate is usually lower and they’ll charge an extra fee for the service. To save on fees, choose instead to be charged in EUR, without any conversion by the ATM.

Avoid airport and hotel currency exchanges

Buying anything at the airport can be more expensive than buying it elsewhere. This is because airports, and to some degrees hotels, cater to a captive audience. So avoid exchanging currency at either. The fees are usually higher and rates poorer at both the currency exchange booths, even if no commission is quoted upfront.

Spend your money before leaving

Re-exchanging currency costs money too, so changing back to your home currency means you're charged twice. If you budget well then you should be able to calculate exactly how much you'll need for your stay. Spend leftover cash, especially coins, or set them aside for your next trip into the EUR zone.

Where to exchange money in Amsterdam

We’ve compiled a list of currency exchange bureaus you could consider for changing your cash. It’s important to remember that all the services mentioned will charge you fees, regardless of whether commission is advertised upfront. Extra fees are usually hidden in their offered exchange rate, so be aware of this.

Currency Bureau Address Contact Information
Sunro Change BV Damrak 17 II, 1012 LH Amsterdam, Netherlands +31 20 626 5156
Pott Change Damrak 95, 1012 LP Amsterdam, Netherlands +31 20 626 3658
Lorentz Company Damrak 31, 1012 LJ Amsterdam, Netherlands +31 20 420 6002
GWK Travelex Kalverstraat 150, 1012 XD Amsterdam, Netherlands +31 20 627 8087

The bottom line

Be sure to refine your understanding of exchange rates. Compare any offered tourist rates with the live mid-market rate to determine the fairest service for converting money. For a better exchange rate, withdraw EUR directly from an ATM. It’s important that you choose to be charged in the local currency, and avoid having the ATM decide the exchange rate for you. As you’ll be charged a transaction fee each time you use an ATM, make one or two larger withdrawals instead of multiple smaller ones.

Better yet, if either you or a friend have access to a EUR bank account in Amsterdam, use TransferWise and make the transfer ahead of time. Not only does TransferWise use the real mid-market exchange rate to convert your money (which almost always beat the banks), but since your currency is received and sent via local banking systems in both your home country and in Europe, all those nasty international bank fees magically disappear.

TransferWise is the smart, new way to send money abroad.

Find out more