Best ways to take money to Estonia - 2024

Debit cards can be issued by a bank or specialist provider. Your card will be linked to an account you need to top up before you can spend.

Spending and making cash withdrawals with a travel debit card in Estonia can be convenient, and if you pick a low cost provider, it could be cheap too. Generally using a debit card cuts out a few common fees compared to using credit cards, but you’ll need to have money in your account before you travel as there’s no credit facility with this option.

Ideal for: Low cost spending and withdrawals when you’re in Estonia, particularly if you choose a flexible card which has good exchange rates when you spend in EUR

Prepaid cards are often issued by specialist providers, although some banks do also offer this facility.

With a prepaid card you’ll need to add money to a digital account before you can spend. The features and fees of prepaid cards can vary quite widely - some are designed for overseas use, while others may have pretty high fees when you’re overseas. Comparing a few will help you pick.

Ideal for: Setting your travel budget in advance, and then spending and making withdrawals as you travel in Estonia

With a credit card you’ll be able to spend to your credit limit and then repay your bill later - fees apply if you don’t pay in full and on time.

Credit cards can come with a few extra fees compared to debit and prepaid cards, such as interest, penalties and cash advance costs. However, they’re still an attractive option if you have a travel optimised card which lets you earn rewards as you spend, or if you need a card to act as a payment guarantee when you hire a car or check into a hotel.

Ideal for: Spending now and paying back later - you may also earn rewards or cash back spending on the card you pick

There are likely to be times in Estonia when cash is handy - for smaller purchases, tipping and taxis for example. Having some cash in your pocket is also reassuring in case your preferred payment card isn’t available or can't be accepted for some reason. Carrying too much cash is a security risk, so do be careful as tourists are often prey to opportunist thieves  - in Estonia and the world over. Take out cash from ATMs little and often if you can.

Ideal for: Those times when only cash will do - market purchases, tipping and taxis for example

How much cash should I bring to Estonia?

The budget you need to set for your trip depends a lot on what type of trip you’re expecting – you may be travelling or a shoestring, or you might be all up for a big blow out, with the very best of everything available in Estonia. In either case you can avoid spending money unnecessarily with a bit of advance planning, booking accommodation online before you travel, and looking out for deals and offers.

How much money do I need per day in Estonia?

While the amount of money you need depends a lot on the type of trip you’re taking, there are some things pretty much all travellers need to consider, including:

• Accommodation

• Meals

• Transportation

• Entry to tourist locations

• Activities and entertainment

• Tips and discretionary spend

• Any tourist taxes or visas that apply

You can start to set your budget for different spending types long before you travel - it’s also worth taking into consideration less obvious costs like the fees you’ll pay for currency conversion.

The exchange rate between the MYR and Euro changes all the time, but getting a better rate means your money goes further when you’re in Estonia. Right now, 1 MYR/EUR = 0.21275. Get familiar with the exchange rate by using a reputable online currency converter, so you know what to expect.

In Estonia, the average accommodation typically costs around 415 MYR per night, offering a wide range of options from cozy hostels to luxurious resorts, ensuring there's something to suit every traveler's budget. Local transportation, like buses, trains, and trams, provides convenient and affordable ways to explore the cities and other areas, with an average price of 113 MYR.

Dining experiences in Estonia offer many options, from fresh seafood to multicultural cuisines, with meals averaging around 158 MYR. For people seeking hassle-free adventures, organized tour packages are readily available, showcasing the country's iconic landmarks, wildlife encounters, and cultural highlights, with prices starting from 68 MYR.

Is Estonia expensive?

The amount of money you’ll spend in Estonia depends a lot on the type of travel you like - whether that’s low cost or luxury. You can always make sure you stick to your planned budget by booking accommodation well in advance, and looking for great local places to eat rather than sticking to tourist hotspots where the prices tend to be cranked up. There are loads of great, and up to date, online resources to help you plan your trip to Estonia which include hot tips and ways to save - do some research before you go to make your money go further.

What is the best way to pay in Estonia?

It’s worth having a mixture of payment methods with you when you’re in Estonia, including cash and cards. While cards have reasonable acceptance, it’s not universal, so carrying one or more cards, and some cash means you can combine the convenience of card payments with the flexibility of having cash on hand for situations where cards may not be accepted.

Can I use my bank card in Estonia?

Generally you can use your bank card in Estonia wherever the network is accepted. However you might find you can get a better deal with a specialist provider like Wise. Using a bank card issued in Malaysia for spending in Estonia may come with a few headaches. You might need to inform your bank of your travel plans in advance, you could run into fees such as foreign transaction fees - and there’s a good chance you won’t get the very best exchange rate available either.

Is it better to exchange money in Malaysia or in Estonia?

There’s no strict right and wrong when it comes to exchanging currency in Malaysia versus Estonia. Ultimately, the best option comes down to the exchange rates and fees you can find both here and on arrival - and the convenience. Changing money on arrival means wasting precious time looking for a good deal, but carrying too much with you when you travel might not be the safest option.

Having some cash on hand can be very useful and reassuring, as you know you’ll always be able to pay for immediate expenses, or for emergencies. It’s also a handy back up if your preferred card isn’t accepted.

Because carrying lots of cash can make you a target of thieves, be sure to use the safety box in the hotel where you can, and split funds between a few different spots in your baggage as well. No matter whether you exchange at home or abroad, it’s also a smart idea to keep an eye on exchange rates so you’ll know you’re getting the best available deal on currency exchange.

How to buy EUR on arrival in Estonia?

If you plan on changing your money on arrival in Estonia you’ll want to research currency exchange options in advance to avoid wasting time on your trip. In many cases physical exchange offices are clustered in one area of a city, such as the CBD or financial area. Compare your options based on fees and rates available before you hand over any money. It’s also worth stressing the importance of using a licensed money changer to avoid scams.

If you don’t want to waste time changing your money to Euro on arrival, consider an alternative like the Wise card. With the Wise card you can add money in MYR and tap to pay in EUR without needing to do a manual exchange. Your money is changed using the mid-market rate and low, transparent fee - with no extra foreign transaction fee to worry about.

Does Estonia accept MYR?

Generally it’s not possible to pay in MYR anywhere except in Malaysia. The official currency in Estonia is Euro - and in most cases this is the only currency you can use to pay.

Conclusion - Best ways to take money to Estonia

There’s no single best way to spend in Estonia - and for most people, having a blend of payment options gives flexibility and reassurance. Consider getting a low cost debit card from an international provider like Wise, alongside your regular bank debit or credit card, and some cash in EUR. That way you’re prepared no matter what happens.

FAQ - Best ways to take money to Estonia

What is the best way to take money internationally?

The best way to take money with you when you travel depends on your personal preferences and where you’re headed - usually having an international debit or prepaid card, alongside your bank debit or credit card and a little cash is a smart plan.

Should I exchange money before I travel to Estonia?

While you can exchange money before you travel, it’s not necessary and can eat up your precious planning time. If you don’t want to change your money in advance you can get a low cost international card from a provider like Wise, to make ATM withdrawals with low or no fees when you arrive in your destination.

Can I withdraw EUR from a local ATM?

You can’t withdraw Euro from a local ATM in Malaysia. You’ll need to wait until you arrive to make a cash withdrawal - ATMs are often found in airports, train stations and other travel hubs to make this easier.

Are debit travel cards a good way to take money to Estonia?

Generally debit travel cards are cheap and flexible for international spending and withdrawal. Pick a low cost international card from a provider like Wise, to get flexible international services and low overall fees.

Can I use cash in Estonia?

You can often use cash, but carrying a lot of cash isn’t a smart move for safety. Using a mix of cards and cash, and making ATM withdrawals as and when you need to can give you the best of all worlds when it comes to your travel spending.

Data sources & references

Data on the cost of accommodation, meals, travel and entertainment is kindly provided by BudgetYourTrip. The information is correct as of April 2024.

Note: “accommodation” refers to the cost of a double-occupancy hotel room and “entertainment” refers to outgoings on shows, excursions, etc.