Choose local currency abroad
When you pay by card abroad, it pays to choose the local currency. You will get the best exchange rate, even though you also pay a currency conversion fee.
Why choose local currency abroad?
When you pay by card abroad, you are often asked whether you want to pay in Norwegian kroner or in the local currency. It will pay to choose the local currency.
- If you pay in Norwegian kroner, it is the shop you are purchasing from that determines the exchange rate. They often set a high currency conversion fee on the exchange, so that they can earn extra from your purchase.
- If you choose the local currency, it is Visa or Mastercard that exchanges for you. They work actively to have the best exchange rate in the market, which makes it cheaper for you – even including the currency markup.
Rule of thumb: Say NO to NOK
Make sure you are given the choice of which currency you want to pay in, and always choose the local currency or "No conversion" as it often appears on card terminals and in ATMs (cash machines).
See what the item costs abroad
Use a currency calculator to see what you actually pay for an item abroad.
Useful tips for your trip
Get more good financial travel advice before your trip abroad.
What is a currency conversion fee?
Currency conversion fee is a charge you pay when you use a bank card abroad. All Norwegian bank cards have a currency conversion fee, regardless of bank and whether you use a debit card or credit card.
- When using a card abroad, the amount is converted to Norwegian kroner. The exchange rate is set by Visa and Mastercard, plus a currency conversion fee which at DNB is 1.99%.
- Despite the currency conversion fee, it is usually always most cost-effective for you to pay in local currency when you use a card abroad.