In this guide we review :
- Travelling in Austria - Practical tips
- Buying Euro Cash Online - Travel money for Austria
- Euro (EUR) - Currency Market News
- Sending Money to Austria - Save on Euro bank transfers
- Euro Exchange Rates - Latest info & charts.
Austria Travel Practical Tips
The capital city of Austria is Vienna and has a population of around 1.7 million. Austria has a very high standard of living and is one of the richest countries in the world. The majority of the population speak local Bavarian dialects of German as their native language, and Austrian German in its standard form is the country's official language. Getting around Austria is not a problem as the local transport infrastructure is very good and inexpensive. Taxi drivers usually expect a 10% tip.
Austria is located in the Alps and is a largely mountainous country. For skiers Austria now represents better value for money than the French Alps, everything from basic holiday costs to lift pass, ski school, eating out and partying usually costs less.
Travel Money for Austria - Buying Euro (EUR)
Save money and time by Ordering your Euro Online from Travelex, you get better rates and can pick up the EUR cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Euro otherwise you may get much worst exchange rates.
Austria Trip Checklist
- Compare EUR Travel Cash Rates - probably why you are here!
- Hotel Deals - Save on your accomodation in Austria
- Travel Insurance - for those unexpected travel adventures...
- Lonely Planet - Travel Guide 3 for 2 offer
Euro (EUR) - Currency Market News
In mid-October, the euro was floating around 1.18 against the dollar, having pulled back from September’s long-term highs close to 1.21.
Against the British pound, the euro stood at 0.897. It had been as high as 0.9306 in August – a level that hadn’t been achieved since 2009.
Speculation surrounding the end of the ECB’s quantitative easing program has driven euro appreciation this year. For the first time since its introduction, the central bank will discuss tapering QE at its meeting on October 26th.
In September, Dutch bank ABN Amro predicted EUR/USD would rise to 1.3 by the end of 2018. As reasons for the pair’s climb, ABN cited “strong conviction” on future US dollar weakness and less stimulative ECB policy.
In September, HSBC cancelled its forecast for the euro to rise to parity with the pound. HSBC’s revised year-end forecast now places EUR/GBP at 0.893.
A divergence in the paths of monetary policy between the ECB and the Swiss National Bank will lead to EUR/CHF climbing to 1.18 in the medium term, from October's rate of 1.154, according to a prediction by Credit Agricole.
Bank of America Merrill Lynch go one further on EUR/CHF. The bank has a “minimum target” of 1.20 by the end of 2018. BAML says that EUR/CHF “looks cheap relative to its longer-term moving averages.”
Sending Money to Austria
When sending money to Austria it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a provider (id docs may be required)
- You specify the local or Euro amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted EUR amount will be transfered to the recipient account you specify in Austria.
You can save around 5% and maybe more - end result is more Euro deposited into the recipient bank account in Austria and less margins and fees kept by the banks!Compare Transfer Exchange Rates to Austria