Is there an exchange booth on board?

We will be going to the Mediterranean next month on the Brilliance and I am trying to figure out the best way to take money out.

I don't want to use my debit card over seas because if anything happens, this card is attached to my checking account. Credit cards have very high fees and even if you pay it off you still have to pay 30% daily interest.

So I was thinking of using travelers checks and exchanging them onboard. Is this possible?

Check at the purser's desk and I believe they can help you. The know before you go section of their website may also answer questions you might have. BTW, what kind of credit card (not debit card) do you have that charges 30% daily interest? Some may charge a 3% foreign transaction fee, but even then you usually get the most favorable exchange rate which may make up for a good part of the transaction fee. Most credit cards that I know of don't charge any interest if you pay off the total balance each month, and some have low annual fees. I'd recommend that you check these out since you have more protections if you use a credit card to make purchases, especially if you are far from home.

even if you pay it off you still have to pay 30% daily interest.

 

That is undoubtebly incorrect, but if not, you need a new credit card.

I've been on four previous European cruises on Royal Caribbean ships. Each time, they had a foreign currency exchange, either at the Purser's desk or in one of the lounges. They had specific times posted daily when the exchange was open.

I've always used US Amex traveler's checks and cashed them in to exchange for foreign currency. They will also exchange any remaining foreign currency back into US dollars. The exchange rate remains the same throughout the cruise. A few European countries (Russia, Estonia, Croatia) only permit exchange within their country, so you won't be able to get their currencies prior to your visit. However, all the EU countries use the Euro which you can purchase on the ship.

I have found the ship's exchange rate to be better than the rate you'd get in airports, hotels, or at money exchange businesses, but not as good as the rate you'd get using a credit card.

the charge is 30% annually. But the interest in cash compounds daily, as opposed to purchases, where you can pay it off that month without paying interest.

So from the moment you take out the cash until the day they receive your payment, you have to pay the interest.

We always take some travelers checks and cash them at Pursers desk for port money, tip money, etc. I divide them out into envelopes before we leave; I set aside tips in one, anticipated excursion costs and shopping money for each port, etc. I leave them in the safe and cash as needed.

I travel to Europe a good bit on business and have found that American Express does not seem to have a very favorable exchange rate for the Euro lately. I have submitted expense reports based on the exchange rate posted during my trip, only to find that when my AMEX bill arrived the charges in US$ were higher than I calculated.

In any case, if you have not been to Europe in the last year or two, be prepared for the Euro exchange rate shock. The US$ is very weak over there.

the charge is 30% annually. But the interest in cash compounds daily, as opposed to purchases, where you can pay it off that month without paying interest.

So from the moment you take out the cash until the day they receive your payment, you have to pay the interest.

Sorry, I didn't realize that you were talking about cash advances. In that instance, I would take some cash or traveler's checks with me and convert them either onboard or in the port. I would still recommend using a credit card and not cash for any purchases I made in port and would only carry enough of the local currency to pay for expenses where a credit card might not be accepted.

be very careful when using your credit card in port. last june i had my card number stolen by someone at a very good jewelry store in cozumel. i only used it once on this cruise so i know it happened there. i had a $10,000.00 charge to my credit card when we returned home to a resort in belize and st kitt. the cruise line recommended this store but was know help when this was reported to them.:eek: