Obtaining currency on board

[A and A]

We're going on our first SS cruise on Shadow from Tokyo to Shanghai next month. We're not sure whether to buy all our currency (Japan, South Korea, China and Hong Kong) before we go, or if we should leave some of it to buy on board. Would appreciate advice from previous SS cruisers regarding the competitiveness of the exchange rates offered on board. Thanks!

[Wellseasoned]

A and A, welcome to Silversea. But they do not do banking on the ships. They will do minor change of denominations in the same currency, if they have it, but they do not do the buying you are asking about. Do that before the cruise, at ATM's, or banks ashore.

 

Please post about your cruise. we will be aboard the Shadow for the Hong Kong to Tokyo to Seward next spring.

[Rally]

A and A, welcome to Silversea. But they do not do banking on the ships. They will do minor change of denominations in the same currency, if they have it, but they do not do the buying you are asking about. Do that before the cruise, at ATM's, or banks ashore.

 

Please post about your cruise. we will be aboard the Shadow for the Hong Kong to Tokyo to Seward next spring.

 

Best exchange is often at ATMs, usually found in or near cruise terminals.

[WesW]

We have strongly recommended our our recent (April/August) Silversea end of cruise comment cards that Silversea seriously consider offering reasonable currency exchange on board. Have also asked (via email) the President (Ellen Bettridge) of Silversea consider adopting currency exchange service on board all SS ships. Do understand this incurs a fee for Silversea to provide currency exchange on board, but IMO this is an important guest service that should be provided on board considering the per diems we pay to sail SS. We have also sailed Regent often in the last eight years, and Regent Seven Seas does provide currency exchange on board. We strongly believe this is a service SS should provide it's guests. However, agree with Dieter and Mike above, since SS does not offer this currency exchange on board, use an available cruise terminal ATM for your currency exchange needs when your on board the Shadow.

[A and A]

Thanks for all your advice, you've solved our dilemma! Now we just need to hope the next 5 weeks pass quickly so that we're on our way!

[Keith1010]

A and A, wishing you a wonderful cruise.

 

Keith

[patnlcc]

A and A, I know the rules forbid 'advertising' on here but we always get our foreign currency from a well-known British company who sell clothing and food and who have stores the length and breadth of the country! They deliver by post and make the whole process very easy.

[Merriem]

We were very surprised last year when arriving in Hong Kong, that they had no currency. We could not find an ATM but our hotel, the Mandarin Oriental paid the taxi and put it on our hotel bill. I love that hotel!

[mrscrab]

Some ports SS have reps of banks on board to change your money. Don't know if they offer a good rate or not. Its usually within 15 minutes of the ship berthing and happens near the cruise directors office.

Do be careful... we were once in Funchal and the ATM didn't work correctly so we went inside the bank to withdraw from out a/c in Australia. We didn't have our passports with us so couldn't use our a/c over the counter - a bank rule. So if you need to do any banking whilst ashore get your passport from reception beforehand.

Enjoy your cruise.

[MrsWaldo]

Just a tip for Japan.

 

 

Using the ATM is the way to go BUT....

 

you can't use all ATMs.

 

You can use the ones in 7/11 and the ones at Japan Post (look for a green sign not a red one).

 

Lots of places don't take cards so be ready with your Yen.

[duct tape]

It is easy to order on-line from Wells Fargo. Don't know if this will get past Host Dan!

[dougburns]

I think, once again, duct tape has the best idea with Wells Fargo. Travelex rate today is $1.49 per euro, BofA is $1.41(and you have to have a BofA account), and Wells Fargo is $1.407 (no account necessary). The official exchange rate is $1.33something. For our cruise at the end of Oct we need euros as soon as we get to Italy and I don't want to carry a large amount of US dollars with me to convert at an unknown exchange rate at Fumicino, nor do I want to use an ATM and pay the transaction fee on our credit card.

[Keith1010]

In the scheme of things I would not get too hung up on the exchange rates unless you want thousands of dollars.

 

For large purchases, just use your credit card because you get a very optimal rate with the credit card and ideally use one without a foreign truncation fee.

 

For cash, the ideal is to use your ATM Card in the foreign country but again don't get hung up on that.

 

Yes, Wells Fargo is an option but likely most banks are an option so just speak with your local bank. We needed a bunch of Euros, Japanese Yen and South African Rand (I think it is called Rand) and logistically it made sense for me to get it here. I spoke with my local bank and we got what we needed and in the scheme of things maybe it cost me $50.00 more than using an ATM. And maybe not because there are ATM fees.

 

Keith

[Emtbsam]

We pay no ATM fees with our card overseas, and we receive an institutional exchange rate. Our ATM card provider rebates any fees that show up on our account.

[Keith1010]

We pay no ATM fees with our card overseas, and we receive an institutional exchange rate. Our ATM card provider rebates any fees that show up on our account.

 

Who do you use?

[rallydave]

ATM's are always the best way to go. Have used my ATM card around the world and NEVER had an ATM charge on my account. Seems like the US is the only place where ATM's charge fees. Use my local Credit Union ATM card and always get the institutional million dollar exchange rate.

 

Doesn't seem to matter which bank I go to as long as they have the symbols on my ATM card and always seem to have those. Usually stop at an ATM at the arrival airport or the first back I find when getting off of the ship.

 

The last place I would want to exchange money is on board as the exchange rates are horrible. Getting money before leaving the US is bad as well as US banks are almost as bad as money changers at the airport.

 

I carry multiple ATM cards tied to different credit unit accounts in case the machine accidentally eats the card. Always use my credit card if it is accepted by the merchant as get the best rate there and make sure to use cards without a foreign transaction fee.

[Keith1010]

Again, unless you are talking about spending thousands of dollars I would not sweat this. Because it will not be possible for me to obtain the currency I needed from the in country ATM's I just picked up quite a bit of foreign currency and it cost me only $50.00 more and this was a few thousand dollars in currency.

 

Yes, credit card is the most ideal transaction as long as you have a card with no foreign transaction fees.

 

In terms of ATM always keep in mind there is a maximum of what you can pull out daily and verify that with your card company ahead of time. And all I know is that the credit card conversion rates is even better than the ATM.

 

Again, in my case I had no choice and I really was pleased with my bank. They got me the money in two business days and they could get me pretty much what I needed. And I had three choices; large bills, small bills or a combination.

 

Keith

[dougburns]

I was mistaken in my post of yesterday. You do have to have an account at Wells Fargo in order to be able to buy foreign currency.

[Keith1010]

I was mistaken in my post of yesterday. You do have to have an account at Wells Fargo in order to be able to buy foreign currency.

 

I think that is true for all banks. I know mine (not Wells Fargo) works the same way.

 

Keith

[dougburns]

Looks as if the best way to go is to wait till we get to FCO and use our debit card at an ATM. Do the ATMs give you Euros? For those currently cruising the Med what kind of exchange rate have you been getting at the ATMs? You can probably tell that I'm not an ATM type person.

[rallydave]

Looks as if the best way to go is to wait till we get to FCO and use our debit card at an ATM. Do the ATMs give you Euros? For those currently cruising the Med what kind of exchange rate have you been getting at the ATMs? You can probably tell that I'm not an ATM type person.

 

Not on a cruise at the moment but, have gotten money from ATM's all over the world and know that they give the local currency in all cases so yes, you would get Euros and in GB, Pounds, Japan, Yen, etc.

 

And I always check the exchange rate based on the dollars charged to my checking account vs. the currency received and it has always been extremely close to the million dollar institutional rate which is pretty much identical to the credit card rate, etc. Never had an ATM charge and always get a much better rate than I could get in the US or at currency change places at airports, on the street, etc.

[dougburns]

Roger! Thanks for the info; it confirms what Col Wes just told me on the phone.

[rallydave]

Roger! Thanks for the info; it confirms what Col Wes just told me on the phone.

 

Not surprised, Wes and I are good friends and usually on the same wavelength!!

[Keith1010]

Looks as if the best way to go is to wait till we get to FCO and use our debit card at an ATM. Do the ATMs give you Euros? For those currently cruising the Med what kind of exchange rate have you been getting at the ATMs? You can probably tell that I'm not an ATM type person.

 

The ATM's will give you the local currency.

 

In the case of FCO or any ATM in Italy they would give you euros.

 

Keith

[duct tape]

Dougburns, we use Wells Fargo (via Internet, credit card) and do not have a WF account.