Currency Exchanging on Princess

[tango223]

I would like to know how the currency exchange works on a Princess ship to Europe. While I know that the exchange isn't great...just wondering if the convenience is worth it. Do you have to have cash to get the foreign currency or do you sign it on your shipboard account? Just thinking about how much cash I would need.

 

Any help would be greatly appreciated.

[paul929207]

I believe you need cash or travelers checks.

 

Their rates are poor. I figured out one time that if you converted US$100 into Euros and then immediately conerted those Euros back to US$, you would have US$77.

 

For small amounts the convienence is probably worth it, but if you need a couple of US$ converted, you do much better at an ATM or a bank

[caribill]

Here is how it worked a year ago, so the exchange rate I list is what it was then, not what it would be now. I think someone has posted that the service charge is now $4.50.

 

There was an onboard currency exchange machine that could be used to obtain Euros. This is not an ATM machine. You insert the currency you have (for example US$) to get the Euros.

1 Euro onboard costs $1.56. Also there is a service charge of $3.50 per transaction.

Rate I received buying Euros at an ATM on shore using Credit Union ATM card: $1.44, about the exchange rate at that time. (My CU charges no fees). Thus, buying 300 Euros onboard would have cost me $39.50 more than it did at an ATM machine on shore.

By the way, Princess will buy back those $1.56 Euros paying you $1.33 for each one. Again, there is a service charge of $3.50 per transaction.

[Pam in CA]

The currency exchange on the ship should be used only in an emergency or you have no other option. You can do so much better at an ATM in port.

[tango223]

Thank you all for your help. Will look to use the ATM with my debit card as my credit card will treat withdrawals as a cash advance with very high fees and interest rates.