Lisbon

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Currency Exchange

Sections

Currency Exchange in Lisbon, Portugal

Currency

  • Official Currency: Euro (€)

Where to Exchange Currency

  1. Banks: Most reliable option. Major banks include:

    • Caixa Geral de Depósitos
    • Millennium BCP
    • Banco Santander Totta
    • Banco BPI
    • Hours: Typically Monday to Friday, 8:30 AM - 3:00 PM.

  2. Currency Exchange Offices: Found in tourist areas, airports, and train stations. Examples:

    • Travelex: Available at the airport and major tourist spots.
    • Cambio: Various locations in the city.
    • Hours: Often longer hours, including weekends.

  3. ATMs: Widely available and often provide competitive rates. Use a debit or credit card for withdrawals.

Best Places/Services to Use

  • Banks: Generally offer the best rates and lower fees.
  • ATMs: Preferable for convenience and competitive rates.
  • Avoid: Street vendors and unofficial exchange services due to high fees and potential scams.

Typical Exchange Rates and Fees

  • Exchange Rate: Rates fluctuate; check online for current rates (e.g., XE.com).
  • Fees: Banks may charge a small fee for currency exchange (1-3%). ATMs may charge a withdrawal fee, depending on your bank.

Procedures and Documentation Required

  • Identification: Generally, no ID is required for exchanges under €1,000. For larger amounts, a passport may be requested.
  • Documentation: No specific documentation needed for currency exchange, but keep receipts for large transactions.

Safety Tips

  • Use Reputable Services: Stick to banks and well-known exchange offices.
  • Avoid Carrying Large Amounts of Cash: Use ATMs to withdraw smaller amounts as needed.
  • Be Aware of Your Surroundings: Especially in crowded tourist areas.

Cultural/Local Considerations

  • Language: While many locals speak English, knowing basic Portuguese phrases can be helpful.
  • Tipping: Not mandatory, but rounding up the bill or leaving small change is appreciated.

Exchange Before Arrival vs. In Lisbon

  • Before Arrival: Consider exchanging a small amount for immediate expenses (transportation, food).
  • In Lisbon: Generally better rates at banks and ATMs. Avoid exchanging large sums at the airport.

Recommendations for Avoiding Scams or Unfavorable Rates

  • Research Rates: Check current rates online before exchanging.
  • Avoid Street Exchange: Do not engage with individuals offering currency exchange on the street.
  • Use ATMs Wisely: Choose ATMs located in bank branches for added security.

By following these guidelines, you can navigate currency exchange in Lisbon effectively and safely.