Payment cards are the principal means of spending for international travellers in Europe. Card-based payments present convenience and cost advantages, but they also expose users to specific operational and criminal risks. This article examines the threat environment, payment-rail characteristics that matter for travel, and practical controls a traveller can deploy before and during a trip. Sources cited are primary industry reports and widely used product pages so that statements about fraud prevalence, exchange mechanics, and product features remain verifiable.
The risk picture: what the data shows
Recent industry data places payment fraud among the material hazards for cross-border activity. The European Banking Authority and European Central Bank reported that payment fraud reported across the EEA amounted to €4.3 billion in 2022 and €2.0 billion in the first half of 2023. The same report states the value of card fraud using EU/EEA-issued cards amounted to €633 million in the first half of 2023, with card fraud accounting for a significant share of fraud volumes. (European Banking Authority +1)
Merchants or terminals will sometimes offer the option to convert a sale into the traveller’s home currency at the point of sale. This process, known as dynamic currency conversion (DCC), can produce markedly worse exchange rates. Consumer advocacy reporting contains documented instances of very large seller-side markups; one MoneySavingExpert example cited a case where an 18% markup was applied relative to the expected local-currency price. For card users that want to avoid such markups, prominent consumer experts have urged selecting the local currency at the terminal. A MoneySavingExpert guidance note states: “If using a card and you’re asked whether you want to pay in pounds or pay in local currency (eg, Euros) ALWAYS say the local currency.” (MoneySavingExpert.com) (MoneySavingExpert.com)
Product-level comparisons show a market divided between bank-issued travel credit cards, fintech multi-currency debit cards, and prepaid travel cards. Providers such as Wise advertise a multi-currency card that “gives you the exchange rate you see on Google” for spending in 40+ currencies; comparator sites often recommend Revolut or Wise as leading travel-focused debit/prepaid options in Europe. These product types change the practical exposure to exchange margins and certain operational risks. (Wise) (Monito)
Practical controls before travel
The following preparation steps reduce both fraud exposure and the operational disruption that follows a stolen or blocked card.
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Select card types to match the itinerary. A multi-currency travel card or a low-fee foreign-spend debit card reduces conversion margins for small, frequent purchases. Compare providers across effective exchange rate, ATM withdrawal limits, and fee schedules using current travel card comparison Europe guides. (Wise) (Exiap)
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Keep at least two independent payment instruments: one primary (chip & PIN card or fee-free travel card Europe) and one backup (a second card or a prepaid travel money card). Store the backup separately.
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Record issuer emergency numbers and the card PAN suffix (last four digits) in a secure place. Use issuer apps that permit rapid blocking and temporary freezes.
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Pre-authorise mobile wallet use. Many travel cards support tokenisation (Apple Pay, Google Pay). Tokenised cards mitigate skimming risk because the device provides a per-transaction cryptogram. Check the card’s site or travel money card reviews to confirm wallet compatibility. (curve.com) (Wise)
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Understand the fee schedule for ATM withdrawals and out-of-network spending. A Europe travel expenses card should be assessed for monthly free ATM allowances and mid-market conversion policies.
Controls during travel
Operational behaviour matters. The following actions are short, repeatable, and effective.
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Always select the local currency at a merchant terminal when presented with a choice. The cardholder’s issuer typically offers a superior rate compared with DCC. The guidance above has been repeated by consumer advisers and public commentators. (MoneySavingExpert.com)
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Use ATMs that are visibly attached to a bank and avoid unbranded walk-up machines. When withdrawing, cover the keypad. If a terminal prompts to convert the transaction into the home currency, decline.
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Prefer contactless for small purchases when the terminal is your own bank’s or a trusted retailer’s. Contactless reduces PIN entry exposure for petty theft situations. For larger amounts, use chip & PIN.
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Monitor transactions in real time. Mobile notifications and the issuer app permit fast detection of small unauthorised charges; early detection materially increases the probability of full reimbursement. Many fintech cards provide instant push alerts and in-app blocking. (Wise)
Technical and organisational mitigations
Beyond individual behaviour, travellers should use available technological and organisational tools.
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Activate strong authentication on issuer apps and email accounts. Use unique passwords and two-factor authentication (2FA). If credentials are compromised, attackers frequently pivot to the most liquid assets—payment cards and stored-value instruments.
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Set spending controls and daily limits in the card app. Many prepaid travel card Europe products permit per-transaction and daily caps that minimise the exposure from a lost or skimmed card. (curve.com)
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Use EMV-compliant terminals and chip cards for in-person purchases. EMV architecture makes counterfeit-card fraud commercially more difficult than magnetic-stripe cloning. The principal fraud vectors shift to card-not-present channels; travellers should therefore prefer in-person payments and guard CNP credentials. (European Banking Authority)
What to do if a card is lost, stolen, or skimmed
Preparation reduces the time to remediation. Issuers’ dispute processes still require timely notification.
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Immediately freeze or lock the card using the issuer’s app. If the app is unavailable, use the emergency phone number or the issuer’s global service line.
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File a local police report if theft is involved. Some issuers require a police report for certain types of reimbursement.
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Use the backup card or a prepaid alternative while awaiting replacement. For urgent liquidity, providers of travel card offers Europe sometimes provide emergency cash or rapid card replacement services; check the issuer’s terms before travel.
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Check statements for small recurring charges; fraudsters often test cards with low-value transactions. Report such items promptly.
Vendor and card selection checklist
When comparing products use these objective criteria. This list supports an evidence-led travel card comparison Europe exercise.
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Exchange-rate policy: mid-market or marked spread.
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Foreign transaction fee: explicit percentage or “no conversion fee” claim.
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ATM withdrawal rules and fees beyond free allowances.
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App features: instant lock, transaction alerts, per-merchant controls.
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Refund and chargeback policies for lost or fraudulent transactions.
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Accepted networks and local support in destination countries. Providers that advertise themselves as a multi-currency travel card frequently disclose the exact currency coverage and conversion method in their product documents. (Wise)
Evidence-based product guidance
Industry comparisons and consumer sites regularly refresh rankings. Reviews commonly make these points: Revolut and Wise have been prominent in many travel money card reviews for mid-market conversion and app controls; Revolut often rates highly in comparative summaries and Wise highlights transparency about its exchange rate policies. For travellers seeking a fee-free travel card Europe experience, the low-fee fintech debit products frequently outperform traditional bank travel cards on small purchases, subject to ATM limits and premium account tiers. Users should consult up-to-date travel card offers Europe and recent comparison pages immediately before applying. (Monito) (Wise)
Security tradeoffs and cost tradeoffs
No single product is universally optimal. Credit cards with comprehensive chargeback and travel protections may carry foreign-transaction fees. Fee-free debit and prepaid options reduce exchange costs but may provide weaker chargeback protection. Travellers focused on the lowest day-to-day spending cost should prioritise near-mid-market conversion and low withdrawal fees. Travellers valuing post-loss protection should prioritise issuer dispute rules and global service desks. Selecting the best Europe travel card 2025 requires matching personal priorities with current product terms; lists of the top travel cards Europe vary according to weighting of cost versus protection. (Exiap) (Monito)
Quick checklist for a trip
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Carry two independent cards; split locations of storage.
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Enable notifications and 2FA on issuer apps.
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Decline DCC; choose local currency on terminals. (MoneySavingExpert.com)
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Use tokenised mobile payments where possible.
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Preload a small amount on a prepaid travel card Europe if immediate cash is necessary.
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Review recent travel card comparison Europe pages and trusted travel money card reviews for final selection before departure. (curve.com) (MoneyHub NZ)
Final Considerations
Payment cards remain the efficient default for paying in Europe, provided travellers match their product selection to use patterns and implement basic operational security. Public reporting shows that payment fraud is a material issue for cross-border payments, concentrated in value in cross-border flows and visible in card transaction fraud figures. Effective risk reduction combines a measured product choice—multi-currency or fee-free cards where the itinerary is currency-diverse—with disciplined in-trip behaviour: decline dynamic currency conversion, use bank-branded ATMs, monitor transactions, and use issuer apps for immediate control. Consumers who combine these steps will reduce exchange costs and improve the probability of rapid remediation if an incident occurs. (European Banking Authority) (MoneySavingExpert.com)
Selected sources and further reading
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EBA and ECB, Report on payment fraud data, August 2024. (European Banking Authority)
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MoneySavingExpert, Using plastic overseas? Always PAY IN EUROS. (MoneySavingExpert.com)
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Wise, Travel Money Card product page. (Wise)
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Monito, Best travel money cards compared. (Monito)
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MoneySavingExpert, Avoid holiday rip-offs by ALWAYS keeping hold of the card… (DCC examples). (MoneySavingExpert.com)