Planning a trip to Finland, the land of a thousand lakes, saunas, and the Northern Lights? One essential piece of information you’ll need is understanding the currency used in this Nordic gem. Whether you’re exploring Helsinki’s vibrant markets, skiing in Lapland, or enjoying a coffee in Turku, knowing how to handle money in Finland will make your trip smoother. In this post we’ll break down everything you need to know about Finland’s currency, from its history to practical tips for exchanging and spending money.
Finland’s Currency: The Euro (€)
Finland uses the euro (€) as its official currency, which is abbreviated with the € symbol. Each euro is divided into 100 cents. If you’re travelling from the UK, you’ll find the euro familiar if you’ve visited other European countries like France, Spain, or Ireland, as Finland is part of the Eurozone, a group of 20 European Union countries that share the euro.
The euro comes in:
- Coins: 1, 2, 5, 10, 20, and 50 cents, plus €1 and €2.
- Notes: €5, €10, €20, €50, €100, €200, and €500 (though €200 and €500 notes are rare).
Finnish euro coins feature unique designs on one side, such as the whooper swan (Finland’s national bird) or traditional Finnish landscapes, while the other side is standard across the Eurozone.
A Brief History of Finland’s Currency
Before adopting the euro, Finland used the Finnish markka (FIM), a currency with a history stretching back to 1860. The markka, often called “markkaa” in Finnish, was a symbol of Finnish identity, with coins and notes featuring notable figures like composer Jean Sibelius and historical motifs. In 1999, Finland joined the Eurozone, and the euro became its official currency on 1 January 2002, replacing the markka entirely.
The transition was smooth, and today, the euro is deeply integrated into Finnish life. If you stumble across old markka coins or notes (perhaps in a flea market), they’re no longer legal tender but can be exchanged at the Bank of Finland in Helsinki for euros, though this is rare for travellers.
Why Did Finland Adopt the Euro?
Finland joined the European Union in 1995 and adopted the euro to align with its EU neighbours and simplify trade and travel. The euro makes it easier for tourists to move between Eurozone countries without exchanging money, and it stabilises Finland’s economy by linking it to the broader European market. For UK travellers, this means no extra currency conversions if you’re combining Finland with a trip to, say, Germany or Italy.
Exchanging Money in Finland
It is best to visit a Travel Cash location before travelling to get the best rates and commission free exchange. If you need to exchange further money in Finland, you’ll find plenty of options, especially in cities like Helsinki, Tampere, or Rovaniemi:
- Banks: Major Finnish banks like Nordea or OP Financial Group offer currency exchange with reasonable rates. They’re open weekdays, typically 10 am to 4:30 pm.
- Exchange Bureaus: Look for reputable ones like Forex or Tavex in city centres. Helsinki-Vantaa Airport has exchange counters, but rates are less competitive.
- ATMs: Withdrawing euros from ATMs is often the easiest option. Most Finnish ATMs accept UK debit or credit cards (Visa, Mastercard, etc.). Check with your bank for foreign transaction fees.
Pro Tip: Notify your bank before travelling to avoid your card being flagged for suspicious activity. Also, choose to withdraw in euros (not pounds) at ATMs to avoid dynamic currency conversion fees.
Using Cash in Finland
While Finland is a leader in digital payments, cash is still useful in certain situations. Small businesses, market stalls, or rural areas may prefer or only accept cash. For example, buying fresh berries at a Helsinki market or paying for a bus ticket in a small town might require euros in hand.
- Where Cash Shines: Local markets, small cafes, or remote areas like Lapland.
- Denominations: Carry smaller notes (€5, €10, €20) and coins for convenience, as some vendors may not accept large notes like €100.
- Tipping: Tipping isn’t common in Finland, as service charges are included in bills. However, rounding up the bill (e.g., €15.50 to €16) is a polite gesture for good service.
Card and Contactless Payments in Finland
Finland is one of the most cashless societies in the world. Credit and debit cards are widely accepted, even for small purchases like a coffee or bus ticket. Popular card types include:
- Visa and Mastercard: Accepted almost everywhere.
- American Express and Diners Club: Less common but accepted in larger hotels and restaurants.
- Contactless Payments: Most shops, cafes, and public transport support contactless cards or mobile payments like Apple Pay or Google Wallet.
Fun Fact: In Helsinki, you can often pay for a tram ticket with a tap of your card or phone, making public transport a breeze.
Tip: Always carry a card as a backup, even if you plan to use cash. Some places, like modern cafes or ticket machines, may be card-only.
Mobile Payments and Apps
Finland embraces technology, so mobile payment apps are popular. Apple Pay, Google Pay, and even Finnish apps like MobilePay are common, especially among younger Finns. Download these apps before your trip and link them to your UK card for seamless payments.
Note: Ensure your phone is set up for international transactions, and check for any fees with your bank or app provider.
Budgeting for Your Finnish Adventure
Finland has a reputation for being pricey, but smart budgeting can keep costs manageable. Here’s a rough guide to daily expenses (in euros):
- Accommodation: Budget hostels (€30–50/night), mid-range hotels (€80–150/night), luxury hotels (€200+/night).
- Food: Coffee (€3–5), casual lunch (€10–15), restaurant dinner (€20–40).
- Transport: Single bus/tram ticket (€2.80–3.50), daily travel pass (€8–12).
- Attractions: Museum entry (€10–20), sauna experience (€15–30).
Money-Saving Tips:
- Buy a Helsinki Card for discounts on transport and attractions.
- Eat at lunch buffets (lounas), which are cheaper than dinner.
- Use public transport or rent a bike instead of taxis.
Currency Exchange Tips for Travellers
To make the most of your money in Finland:
- Check Exchange Rates: Track GBP to EUR rates before exchanging. Use Travel Cash before travelling for the best rates.
- Avoid Dynamic Currency Conversion: If paying by card, always choose euros over pounds to avoid poor conversion rates.
- Use ATMs Wisely: Withdraw larger amounts to minimise fees, but don’t carry too much cash for safety.
- Keep Receipts: Some exchange bureaus offer buy-back programs, letting you exchange leftover euros back to pounds.
- Beware of Scams: Stick to reputable banks or bureaus. Avoid unofficial money changers.
Travelling Beyond Finland
If your trip includes other Eurozone countries like Estonia or Sweden (note: Sweden uses the Swedish krona, not the euro), you won’t need to exchange currency for Eurozone destinations. For non-Eurozone countries, plan your currency needs in advance. For example, a ferry from Helsinki to Tallinn (Estonia) is common, and Estonia also uses the euro, making it hassle-free.
Cultural Tips for Handling Money in Finland
Finns value efficiency and honesty, which extends to financial transactions. Here are some cultural pointers:
- Be Prepared: Have payment ready to keep things quick, especially in busy shops or cafes.
- Respect Privacy: Finns are reserved, so avoid flashy displays of cash.
- Digital First: When in doubt, opt for card or contactless payments, as they’re the norm.
FAQs About Finland’s Currency
Q: Can I use British pounds in Finland?
A: No, pounds aren’t accepted. You’ll need to exchange them for euros.
Q: Are ATMs widely available?
A: Yes, ATMs (called “Otto” in Finland) are common in cities and towns.
Q: Is tipping expected?
A: Tipping isn’t mandatory, but rounding up is appreciated for good service.
Q: Can I use my UK credit card?
A: Yes, Visa and Mastercard are widely accepted, but check for foreign transaction fees.
Q: What if I have leftover euros?
A: Keep them for future Eurozone trips or exchange them back to pounds at a reputable bureau.
