Estonia's capital, Tallinn, is a fascinating city with a rich history and vibrant culture. The official currency of Estonia is the Euro.
As of 2011, Estonia adopted the Euro as its official currency, replacing the Estonian Kroon. This change was a significant step in Estonia's economic integration with the European Union.
Tallinn is a popular tourist destination, attracting visitors from all over the world with its stunning architecture, beautiful parks, and lively atmosphere.
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Currency Basics
Estonia uses the euro as its official currency, commonly written as EUR or with the sign €.
One euro is made up of 100 cents, and prices are written with the currency symbol following the price and decimal commas replacing decimal points, like 10,50€.
Estonia was the first former Soviet Union Republic to join the eurozone, adopting the euro in 2011 and replacing the Estonian kroon.
You can exchange Estonian kroon banknotes and coins for euros at any Eesti Pank, free of charge, in unlimited amounts, and for an unlimited time.
Euros come in various denominations, including eight coin denominations and seven banknotes.
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Accessing Currency
You can easily buy currency once you arrive in Estonia, but it's worth considering your options beforehand to save money. Buying euros online is a good idea, especially with online money changers like S Money offering the real mid-market exchange rates.
Buying euros online can be done for delivery or in-store pick-up, with services like Travelex and Travel Money Oz available. However, be prepared for a wait of two to five business days for your currency to be ready.
If you prefer to buy currency in-store, be aware that the rates and fees can vary depending on the location. Money changers in city centres tend to be more competitive than those in suburbs.
Only change money at the airport as a last resort, as the exchange rates and fees are among the worst in the world.
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Exchange Currency Guide
Estonia uses the euro as its official currency, with eight coin denominations and seven banknote denominations available. You can exchange Estonian kroon banknotes and coins for euros at any Eesti Pank, free of charge, in unlimited amounts, and for an unlimited time.
To exchange currency in Estonia, you can buy it once you arrive in the country, but be aware that the location where you exchange it can affect the cost. You can exchange currency at Eesti Pank or other banks, but be mindful of any fees associated with the exchange.
You'll find plenty of ATMs in Estonia, thanks to the extensive bank network, and many will give you the option of being charged in your home currency. Avoid this option at all costs, as you'll likely be ripped off by a terrible exchange rate.
If you do need to withdraw cash from an ATM, opt for the local currency and let your bank sort out the rate. This will usually be a more favorable exchange rate than what the ATM provider offers.
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Buying Euros Before Travel
Buying your euros before you travel can be a great way to save money. Online money changers like S Money often have the best exchange rates.
If you choose to buy online, you can either have the currency delivered to your doorstep or pick it up in-store. Travelex and Travel Money Oz also offer foreign exchange services online, but be prepared to wait between two and five business days for your currency to be ready.
Consider buying your euros in-store if you're short on time, but be aware that the rates and fees can vary depending on the location. Money changers in the centre of main cities tend to be more competitive than those in smaller suburbs.
As a last resort, you can buy euros at the airport, but be warned that the exchange rates and fees are among the worst in the world.
Estonia and the Euro Zone
Estonia has become the 17th member of the eurozone, marking a significant milestone for the country.
The changeover from the kroon to the euro started at midnight in the small Baltic nation of 1.3m people.
Most Estonians wanted the euro, despite market pressure on the eurozone and the Greek and Irish bail-outs this year.
Prime Minister Andrus Ansip marked the event by withdrawing euros from a cashpoint, saying "It is a small step for the eurozone and a big step for Estonia."
Estonia joined the EU in 2004, one of eight former Communist countries that did so, including its Baltic neighbours Latvia and Lithuania.
Two other ex-Communist countries, Slovenia and Slovakia, are already in the eurozone.
The kroon has been pegged to foreign currencies from the start, first to the deutschmark and, in 2002, to the euro.
The rate of 15.65 kroons to one euro has never changed.
In the past year, Europe's debt crisis has hit Estonia severely, with unemployment pushing over 16%.
Estonians were able to swap kroons for euros commission-free from 1 December to avoid a last-minute rush.
Kroons will be used in parallel with the euro for the first half of January, and banks will swap Estonians' kroons for euros until the end of 2011.
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Frequently Asked Questions
Can you use US dollars in Estonia?
No, US dollars are not widely accepted in Estonia, but euros are the official currency and widely accepted. You may also use ATMs to withdraw euros.
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