Nuremberg

Local Currency in Nuremberg, Germany

1. Type of Currency Used

The official currency in Nuremberg, as in the rest of Germany, is the Euro (€). The Euro is divided into 100 cents, and the following denominations are in circulation:

• Coins: 1, 2, 5, 10, 20, and 50 cents, as well as €1 and €2 coins.
• Banknotes: €5, €10, €20, €50, €100, €200, and €500 (though €200 and €500 notes are less commonly used in daily transactions).

2. Exchange Rates

Exchange rates fluctuate daily, so it’s important to check the current rate before exchanging money. As of recent trends (October 2023), €1 is approximately equivalent to:

• 1.05 USD
• 0.87 GBP
• 1.50 AUD
• 7.80 CNY

For the most accurate and up-to-date rates, consult a reliable currency converter or your bank.

3. Where to Exchange Money

• Banks: Most banks in Nuremberg offer currency exchange services. Popular banks include Deutsche Bank, Commerzbank, and Sparkasse. Banks typically have better exchange rates than currency exchange offices but may charge a service fee.
• Currency Exchange Offices: These are available in the city center and at Nuremberg Airport. While convenient, they often have higher fees or less favorable rates compared to banks.
• ATMs: Withdrawing Euros directly from an ATM using your debit or credit card is often the most cost-effective way to get local currency. However, be aware of potential foreign transaction fees (see below).
• Avoid Airport Exchanges: Currency exchange counters at airports, including Nuremberg Airport, tend to have the least favorable rates and higher fees.

4. Availability of ATMs

ATMs (called Geldautomaten in German) are widely available throughout Nuremberg, including at banks, train stations, shopping centers, and major tourist areas. Most ATMs accept international cards with Visa, Mastercard, Maestro, or Cirrus logos.

• Transaction Fees: Your home bank may charge a foreign transaction fee (typically 1-3%) and/or an ATM withdrawal fee. The local ATM operator may also charge a small fee, which will be displayed before completing the transaction.
• Tips for ATM Use:
  • Choose to be charged in Euros rather than your home currency to avoid unfavorable exchange rates.
  • Withdraw larger amounts at once to minimize fees, but keep safety in mind when carrying cash.

5. Credit Card Acceptance

• Widely Accepted: Credit and debit cards (Visa and Mastercard) are accepted at most hotels, larger restaurants, and retail stores in Nuremberg. However, American Express and Diners Club cards are less commonly accepted.
• Cash-Preferred Culture: Germany is still a cash-oriented society, and many smaller businesses, cafes, bakeries, and local markets in Nuremberg may only accept cash. Always carry some Euros in cash, especially for small purchases or when visiting local establishments.
• Contactless Payments: Contactless payments via card or mobile apps (e.g., Apple Pay, Google Pay) are increasingly common, especially in urban areas like Nuremberg.

6. Cost of Common Items and Services

Here’s an approximate guide to the cost of everyday items and services in Nuremberg:

• Cup of coffee: €2.50–€4.00
• Bottle of water (0.5L): €1.00–€2.00
• Meal at an inexpensive restaurant: €10–€15
• Three-course meal for two at a mid-range restaurant: €40–€70
• Beer (0.5L, local): €3.50–€5.00
• Public transport ticket (single ride): €3.30
• Taxi start fare: €4.50, plus €2.00–€2.50 per kilometer
• Loaf of bread: €2.50–€4.00
• Cinema ticket: €10–€15

7. Tipping Practices

Tipping in Nuremberg follows general German customs:

• Restaurants: It’s customary to tip 5-10% of the bill, or round up to the nearest Euro. For example, if your bill is €18.50, you might round up to €20.
• Bars and Cafes: Rounding up the bill by €1–€2 is common.
• Taxis: Round up to the nearest Euro or tip 5-10%.
• Hotels: Tip €1–€2 per bag for porters and €1–€2 per night for housekeeping.
• Tour Guides: A tip of €5–€10 per person for a guided tour is appreciated but not mandatory.

When tipping, hand the money directly to the service provider or tell them the total amount you wish to pay (including the tip) when giving cash.

8. Practical and Cultural Considerations

• Cash is King: While card payments are becoming more common, many smaller businesses and local markets still prefer cash. Always carry some Euros, especially coins, for small purchases or public transport tickets.
• Exact Change: Germans value efficiency, so try to have exact or near-exact change when paying in cash.
• Keep Small Denominations: Many businesses may not accept large bills (e.g., €100 or €200) for small purchases.
• Receipts: In Germany, receipts are often provided automatically, even for small transactions. Keep them for your records, especially if you need to return an item.
• VAT Refunds for Tourists: Non-EU visitors can claim a VAT refund (usually 19%) on purchases over €50 if they take the goods out of the EU. Ask for a Tax-Free Form at the store and present it at customs when leaving the EU.

9. Advice for Visitors and Immigrants

• Open a Local Bank Account: If you’re planning to stay in Nuremberg long-term, consider opening a German bank account. This will save you from foreign transaction fees and make it easier to pay for rent, utilities, and other services.
• Use Public Transport Apps: Apps like VGN (Verkehrsverbund Großraum Nürnberg) allow you to purchase public transport tickets digitally, reducing the need for cash.
• Beware of Scams: Be cautious of anyone offering to exchange money on the street or in unofficial locations. Always use banks, ATMs, or reputable exchange offices.
• Plan for Sundays: Most shops and businesses in Nuremberg are closed on Sundays, so plan your cash needs accordingly.

By understanding these financial practices and cultural nuances, you’ll be well-prepared to handle money efficiently and confidently during your time in Nuremberg.