banking
Sunday May 17th, 2015

Citystay Hostel Travel Tips: Banking in Berlin

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Need Euros? Read on for Citystay Hostel’s in-depth guide to everything you need to know about where to change your local currency to Euros and banking in Berlin!

Banks usually charge high fees for cash exchange and foreign coins are not accepted. The best option would be to withdraw cash from the ATMs (geldautomaten). There are plenty of ATMs throughout the city—look for the ones with an EC sign, denoting that they accept credit cards (though beware the high fee for credit cards). Though there is a small fee of about 1-2 euros, you’ll be able to get the best exchange rate. The second best option would be in the exchange offices (called wechselstuben), but make sure to go to a reputable dealer and not just any on the street. There are many banks and exchange offices in main train stations such as the Hauptbahnhof, Bahnhof Zoo in Charlottenburg and around Alexanderplatz in Mitte, as well as in airports and post offices.

For most banks, morning hours are Monday-Friday 9 am-1 pm. Afternoon hours vary.

It is always wise to keep cash on hand and though many establishments do accept credit cards, it is advisable to ask first.

Traveller’s Cheques are uncommon in Berlin, even if they are denominated in euros. The best places to change them would be directly in a bank, such as the American Express Bank in Bayreuther Strasse 37 (Phone 2147-6292, M-F 9 am to 7 pm, Sat 10 am to1pm) or the branch in Friedrichstrasse 172 (Phone 2017-800, M-F 7 am to 8 pm, Sat-Sun 8 am to 8 pm).

 

Other notable currency exchange locations are:

Cash Express, Bahnhof Friedrichstrasse (train station) (Phone: 2045 5096, M-F 7 am to 8 pm, Sat-Sun 8 am to 8 pm).

Reisebank, Bahnhof Zoo (train station) (Phone: 881 7117, M-F 7am to 10 pm)

Reisebank, Ostbahnhof (train station) (Phone: 296 4393 M-F 7 am to 10 pm,

Sat-Sun 8 am to 8 pm)

Thomas Cook/Travelex, Friedrichstrasse 56 (Phone: 2016 5916; 9 am to 6.30 pm, Mon-Fri, Sat 9.30 am to 1pm)