Purchasing Euros

[LewiLewi]

Is it less expensive to purchase Euros on board or at your local bank before you cruise?

We are about to take a TA to Europe and can't decide whether or not to purchase Euros at out local bank. Any suggestions?

Thanks

[softail]

Is it less expensive to purchase Euros on board or at your local bank before you cruise?

We are about to take a TA to Europe and can't decide whether or not to purchase Euros at out local bank. Any suggestions?

Thanks

 

I would purchase from your local bank vs on the ship. Thats what ive done numerous times. Our use an ATM in Europe.

[chicagopaul]

Not sure about pulling Euros out on board the ship...from what I've heard the ships run by the American dollar so maybe the ATMs only spit out American $?

 

Either way, I recommend local bank. I imagine the fees on board, if they do change Euros, will be very high. No need to pull out too much though, just enough to get you from the ship to where ever you are going. I prefer to use ATMs in Europe. I don't get charged any foreign transaction fees from my bank so I find that is the best route to go.

[We're The Groupnors]

We have found that using an ATM with our debit card when we get on shore always works out to be the best value.

[jjikids]

We ordered the euros from our bank. You do not use them on the ship. It is good to have some when you tour on land. We used them for meals and tips. It is also good to have a credit card that does not charge any fees for overseas charges. Capital One is free and does not charge the 3% fee.

[4774Papa]

We sometime purchase a modest amount of foreign currency for the country were the cruise starts. It is nice to have some cash for taxis or whatever you need since finding an ATM is not guaranteed. Our bank charges $15 for a service charge and the effective rate is poor, as is the rate in US airports and money changing booths.

 

We have been on Celebrity ships that have an ATM that dispenses Euros, and the fee is $6, same as the ATM on the ship providing US dollars. That is far better than what I paid my local bank. Buying Euros at the service desk is not as good, since the rate is lower with a service fee, but still better than my local bank.

 

The absolute best way to acquire Euros is at an ATM in Europe. My Credit Union does not charge a fee for the exchange and ATMs in Europa don't charge fees.

 

I always take some USdollars as backup, just in case my ATM card is eaten by a machine.

[ghstudio]

Celebrity's rate to buy and sell euros is supposed to be the same as if you walked into a Bank of America branch to do the same transaction. There really is no reason to buy from your local bank...

[AZ Stan (FKA Stan in Chicago)]

DO NOT buy euros on the ship. Use your debit card and get euros from an ATM.

 

DO NOT buy euros from your US bank. Use your debit card and get euros from an ATM.

 

The cruise ship exchange rates are terrible. The US Bank rates are a bit better, but they have to pay to have the euros shipped to the US from Europe, therefore they cost more. It makes more sense tu buy euros in Europe.

 

Stan (40 years of banking experience)

[ghstudio]

There is little advantage to buying euros at your local bank before the cruise. Local banks charge the same terrible rates you get on board.

 

As far as getting euros at an ATM...if you have a card that allows you to withdraw from your bank account at official rates AND it reimburses your ATM fees, then by all means go to an ATM. (Schwab bank,...)However if like most you will pay the ATM fee..plus 3% fee on your bank card, it may just be cheaper to buy euros on the ship.

 

It really depends how many euros you are buying....

[Wine-O]

I'm with Stan (40 years of traveling to Europe). I buy my Euro when I arrive at the airport ATM. If the ATM is out of order, the taxi will stop by an ATM on the way to your hotel. He wants to get paid. :rolleyes:

[ghstudio]

I'm with Stan (40 years of traveling to Europe). I buy my Euro when I arrive at the airport ATM. If the ATM is out of order, the taxi will stop by an ATM on the way to your hotel. He wants to get paid. :rolleyes:

 

I do the same...but some want to buy in advance...and given the ATM charge and the 3% if you only want a small amount just buy on the ship.

 

If you are a relatively frequent traveller or plan to be one, just keep extra euros or uk pounds for the next trip. We have baggies of some strange currencies, just in case. We try to keep at least $50 worth of euros just in case the ATMs aren't working.

[Wine-O]

I do the same...but some want to buy in advance...and given the ATM charge and the 3% if you only want a small amount just buy on the ship.

 

If you are a relatively frequent traveller or plan to be one, just keep extra euros or uk pounds for the next trip. We have baggies of some strange currencies, just in case. We try to keep at least $50 worth of euros just in case the ATMs aren't working.

 

My bank (TD Bank) and a lot of credit unions do not charge 3%. In fact, TD Bank doesn't even charge a conversion fee. They might charge $3 for using an out of network ATM, but if you withdraw $500, that's less than 1%.

[ghstudio]

My bank (TD Bank) and a lot of credit unions do not charge 3%. In fact, TD Bank doesn't even charge a conversion fee. They might charge $3 for using an out of network ATM, but if you withdraw $500, that's less than 1%.

 

The ATM fees are charged by the bank in Europe or whatever....seems to be around $5 these days but I've seen more in South America and Asia.

[4774Papa]

The ATM fees are charged by the bank in Europe or whatever....seems to be around $5 these days but I've seen more in South America and Asia.

Banks in Europe don't charge ATM fees.

http://www.fodors.com/community/europe/do-atms-charge.cfm

 

http://goeurope.about.com/od/moneymatters/a/atm-card-fees.htm

[ghstudio]

Banks in Europe don't charge ATM fees.

http://www.fodors.com/community/europe/do-atms-charge.cfm

 

http://goeurope.about.com/od/moneymatters/a/atm-card-fees.htm

 

:). We've been cruising in Asia and South America recently so memory of Europe is fading.

[Wine-O]

Banks in Europe don't charge ATM fees.

 

 

Any ATM or conversion fees will be charged by your U.S. Bank, so check with them before you depart. European Banks don't charge anything -- emphasis on Bank. There are some store/private business ATM's that will charge you a fee. Always use a Bank ATM.

[paul929207]

I use an ATM in Europe to get Euros.

[Slwdude]

Western Europe:

Best way to get Euros is to use your US issued debit card at the ATM in Europe.

Make sure that you let your bank know in advance you'll be traveling to Europe - the security algorithm might block you, and then you'll need to call from there - never an easy experience.

Some US banks will charge a 2-3 USD convenience fee. The European banks don't charge for the transaction. Be careful that you do that in a bank ATM (not a convenience store with no branding on it).

You can pay in Europe with credit cards in most places. Some cards don't charge an exchange fees - our Marriott Chase does not. Expect otherwise a 1-2% exchange rate fee on your credit card transactions.

CEE

If you travel to Central and Eastern Europe, I would get the cash before going, or stick with good locations for the banks where you try the transaction.

We had an experience a few years back in a former Eastern block country where the ATM showed twice the transaction on our bank statement. And yes, they took the money twice from our account. We took it with the bank (USBank), and somehow one line item was refunded.

If the place is out there, I would not use a credit card, or make sure you look at your statement after.

[susanw814]

I usually get a small sum (150 Euro) from the U.S. airport Federal Express exchange office prior to departing flight that way I have enough for taxi to hotel etc but then use European ATMs during trip. Luckily I always end up with leftover Euro after a trip and pack it away with my passport for my next trip.

 

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