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    Should I pay in euros or my home currency in Finland?

    How dynamic currency conversion works and what to compare.

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    Short answer

    You can choose. When a terminal or ATM offers to charge you in your home currency, it is called dynamic currency conversion. Under EU Regulation 2019/518 the charges must be shown as a percentage markup over the latest European Central Bank rate before you pay, and you have the right to refuse and pay in euros. Your own bank then converts the amount at its rate.

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    Why

    1. Regulation 2019/518 requires the conversion charge to be shown as a markup over the ECB rate.
    2. The payer can refuse the conversion and pay in the currency of the payee.
    3. The information must be given before the payment is made.

    Details

    Compare the markup shown on the screen with your bank's foreign transaction fee. Whichever is lower is usually the better choice.

    Tip

    If you are not sure, choose euros. You avoid the extra conversion and your bank applies its usual rate.

    What may differ

    Bank fees for card use abroad vary a lot. Some cards charge no foreign fee at all.

    Common misconception

    Paying in your home currency always saves money.

    What actually happens

    The conversion includes a markup. Paying in euros and letting your bank convert is often no more expensive.

    People also ask

    • Do ATMs charge fees in Finland?
    • Can shops charge a card fee in Finland?
    • Where can I exchange money at Helsinki Airport?

    Sources

    This answer is for reference only. Payment rules and fees change, so check the official sources or your bank before you pay.

    Practical: communication, money, services
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