currency exchange -dollars to euros

[Paulchili]

Lyn - we cross posted.

I want a CC that CANNOT be used without a PIN - just like my current ATM or debit card (I must put in a PIN to use them). That way no one but me can use the CC (theoretically).

[yorkiemomjn]

I just realized that I have been visiting the CC boards everyday for almost a week now; I am concerned about restarting my addiction! Jim, helpppppp!

 

I had noticed that, but I wasn't going to say anything......:p

[PaulMCO]

Use FX fee free ATM/Debit card for getting foreign currency at ATM machines. (WARNING: Do not use Travelex machines which look very similar to ATMs... THEY ARE NOT ATMs and you will be charged FX fees. Stay away from anything with Travelex on it.)

 

Use FX fee free Visa for purchases.

 

See this web site/chart for more information: http://www.flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange

 

FWIW, I have a Schwab ATM/Debit card which I use for cash that incurs absolutely no additional fees. Occasionally when using the Schwab Debit card at ATMs overseas, one will receive a notice that there is a fee to use this ATM, and while this fee might show up in your ATM transactions when you view your account, at the end of the month the fee is refunded back to your account. The first time this happens it catches one by surprise.

 

For CC I have a Schwab Visa (2% cash back) and Marriott Rewards Premier Visa, neither of which incur any FX fees. Word of warning, some hotels and retailers may want to charge you in dollars. DO NOT fall for their "Dynamic Currency Conversion" trick. They convert your charges to USD and add their own conversion fees. Always make sure transactions are in native currency. See this FT thread for a recent experience: http://www.flyertalk.com/forum/marriott-rewards/1232911-warning-dynamic-currency-conversion-courtyard-munich.html

 

Excellent advice -- I too always stay away from travelex.

My rules for currency and travelling are:

 

1. Always, if possible take some small amounts of currency. I have over 40 countries worth from past travels. You never know when an ATM machine at the airport will be busted or you need foreign currency to get a Visa on arrival.

2. Use an ATM with your debit card for any large transactions. Notify your bank where you may go so that it will not be blocked.

3. Get a no foreign transaction card. Why pay an additional 3%. Amex Platinum, Capitol One, Marriott Rewards Visa Premier are all in my wallet.

4. Hotels are a good source of currency if you need small amounts. YES their rate is lower but there is no lump sum commission.

5. I have found some countries where currency changers are OK. Most of the Arab countries control the fees (none) and the rate is slightly lower than the ATM with no banks fees on the other end. I always use for comparison - how much XX do I get for $100. My last trip to Abu Dhabi went to two dealers one gave me 3.62 per USD and the other 3.55. Now guess who would give me 3.55 -- Travelex. The bank rate is 3.70. The ATM fee would have been more than the difference.

6. Amex banks used to be a good source of currency.

7. Some major banks in the states sell foreign currency a good rates (Bank of America is one).

[BillPizzaiolo]

We just buy the amount of currency that we expect to use before we leave the United States and keep it in our cabin safe until needed.

 

The interest lost by withdrawing the funds a few days early is insignificant, and we do well enough on the exchange rate (versus what the ATMs' are charging) that the convenience of having the money in hand makes it a no-brainer.

 

I know that several others, whose opinion I respect, differ with my opinion on this, but when I am on vacation I am not going to take a bus or a train with my luggage, I am not going to chase down an operable ATM that likes my pin, and I am not going to fly in Coach when Business is available.

 

If I want that kind of stress, I'll stay in the office.

 

 

Hey Guys, We are with you on this topic. Vacations are for enjoying ourselves and relaxing. There is no need to get stressed out. And they can't come soon enough. Can't wait for the next one!

Bill & Jeannie

[rallydave]

Hey Guys, We are with you on this topic. Vacations are for enjoying ourselves and relaxing. There is no need to get stressed out. And they can't come soon enough. Can't wait for the next one!

Bill & Jeannie

 

As they say, different strokes for different folks. Or, in this case, different stress for different cruisers.

 

Personally and probably in conjunction with the majority on this board, gettng money out of an ATM at the airport or in the city isn't stressful at all. In fact, not getting money is pretty easy as well. We cruised to Russia, Japan, and China last year and didn't need any of their currency. Used credit cards and easily without PINs or chips. Did need some cash in China at a Dinner for an extra and US dollars were fine, they actually gave me change in Yuans!

 

I would get stressed out if I had to pay the exhorbitant charges my Credit Union negotiated with a purveyor of foreign currency. And I also would be stressed out with extra money left over that I would have to sell back again at extremely exhorbitant rates.

 

Just saying that stress is different people and getting money at ATM's is certainly less costly and less stressful to most people but, if your stress is relieved by getting cash in advance, go for it.

[Fam_Cruise]

I was thinking the same thing. Going to an ATM is very convenient and not stressful at all. Quite the opposite in fact as there is a sense of relaxed calm in knowing that I am always going to get the best FX rate and incurring no FX fees in the process and I don't have to do any math to figure out where the best deal is.

 

Of course I am a bit different than others on these board as most of my travel is land based (but I guess we are all unique in our own way). I do a cruise when it is to someplace new so I can scope out places where I might want to return to immerse myself in the culture. Needless to say, my cruise prospects dwindle with each cruise I take. I visited about a dozen countries each of the past few years, I prefer a carry-on for my luggage which isn't possible for those pesky dive and ski trips. I am not going to fly business class if first class is available (OW and *A RTW and CirPac first class tickets are the best). I am still working and telecommute, and probably will be well past retirement age. Thanks to technology I am afforded the luxury of being able telecommute from wherever I am, and I take my 4.5 lb office with me. This translates to me traveling about 4 months each year. Fortunately I do not have a stressful job so that makes things even better.

 

My key to stress free travel is take less, lighter and better. Also be flexible, prepared for the unexpected, and have a backup plan for every contingency. In my case, a lot of this is learned through decades of travel so don't think those who are new to travel will have all the answers as you won't. Now after saying all that, don't stress out over it; if something happens it will be a learning experience if nothing more. During irregular operations (delayed/canceled flights, etc.) don't wait in lines for coupons, vouchers, etc. use your phone and rebook your flight, if you're a club member go to the club and have them help you get rebooked, use your smart phone and book a hotel room, use your own money to pay for it, and then submit an insurance claim for reimbursement. All of this may sound complicated for infrequent travelers, but one learns from experience, and keeping things as simple as possible usually helps. Take those lemons and make lemonade. Embrace technology if you plan on doing a lot of international travel as something as simple as a smart phone with international service and an international data plan will make things much easier during disruptions. It is amazing how things have changed in just the past few years in this regard. Sorry for going off topic a bit.

[JimandStan]

I was thinking the same thing. Going to an ATM is very convenient and not stressful at all. Quite the opposite in fact as there is a sense of relaxed calm in knowing that I am always going to get the best FX rate and incurring no FX fees in the process and I don't have to do any math to figure out where the best deal is.

 

Of course I am a bit different than others on these board as most of my travel is land based

 

On a land based vacation, I completely agree with you, because on those trips I make my own schedule, and if one ATM is out of service, or is the wrong network, there will be another one around the corner.

 

However, when I am touring a port during a cruise, given the (sometimes) very limited time available, adding a stop at the ATM in order to chase a miniscule financial advantage (and we're talking about pennies here in most cases) simply does not compute.

 

If you choose to think the ATM more convenient, more power to you. I'll see you back on the ship, hopefully over a smart cocktail in Martinis ;)

[wripro]

I have never once in my extensive travels been in a situation where I could not almost immediately get cash from an ATM. They are at all airports and I simply withdraw cash upon landing, or at the very least from the ATM nearest to my hotel.

[Paulchili]

It certainly helps that most of (cruise accessible) Europe is now on Euros and one withdrawal is good for many countries (except Scandinavia, where one can use CCs for most things). Many other European countries not officially on Euros will gladly take them.

Asia/S. America is a different story.

[BillPizzaiolo]

I think the key is on port intensive cruises we have up to eight to ten hours of port time. Getting cash in the airport from an ATM is a no brainer, non stressful event. Wasting an hour or two running around looking for an ATM that accepts a card or is not out of service or money can be a bit frustrating. All it takes is one bad experience for the learning to take place. Money talks, be it green backs or Euros or Pounds Sterling, plastic works too in many instances. You have to be a bit eclectic in your approach and always have a back up plan.

[polecat1]

I have used Travelex here in California.

I did a perpaid card (Visa) that I could witdraw up tp 400 Eurs a day which I did. It was the cheaper then doing an exchange with them.

You have to perload the card with at least 1500.00 to get the discount. If you go to their website it explains this. Good luck as at 144 to 100 US candy may be the only thing that is cheap.

 

Paul