Dealing with Foreign Currency

[NDRB]

We'll be on the Ocean Princess: Singapore to Beijing...

 

I know that the ATMs give the best exchange rates overseas, but there is that (roughly) $3 per transaction fee and the question of ready ATM availability outside of the airports.

 

And while credit cards may give you a decent exchange rate (USAA Visa charges only a 1% fee) and be very convenient, some vendors may not accept them or try to (illegally) charge you a fee to use them or set (illegal) minimums.

 

I'm wondering if the bank's rate here (to order currency) varies much from the ATM rate overseas? My bank can't seem to give me much of an answer, but they won't charge me a separate transaction fee the way each ATM transaction will.

 

Princess (obviously the easiest) says they'll charge a $3 fee for each currency exchange on board, but I imagine that their actual exchange rate is pretty bad?

 

It so difficult to anticipate just how much currency you need and having so many different currencies to deal with only compounds the dilemma.

 

And then, what to do with the leftover currencies? Pay the ship to change it back or try to exchange it back with money changers before getting back on the boat? It's hard to compare apples to apples as it seems as though the exchange rates chage daily.

 

Any tips would be appreciated!

 

Nina

[CtheW0rld]

i've used all the methods you've mentioned. usually, i get an assorment of currencies from my bank. i'm not a big shopper, so i usually just get $50 worht of the local currencies i need (more when i have fixed expenses, like private tours). for major expenses i use my card.

 

i don't know if princess does it, but on costa i applied my unused currencies to my shipboard account. the exchange rates were just OK, but it save some hassle. costa did not charge a fee to buy the stuff back.

[paul929207]

Princess exchange rates are preety poor. Last year, they had the dollar/euro and euro/dollar rates in the Princess Patter. I figured out that if you took $100 converted it to euros, then turned around and converted them back to dollars, you would have about $77.