Changing Euros onboard

[Kineticoh20]

Thank you in advance for your awnsers. Will princess ships in Europe have any issues breaking 500 Euro notes?

[fishywood]

Technically there are no issues as the purser's desk does not handle any currency other than the US Dollar. There will be an ATM-style money-changing machine onboard for obtaining local currencies. From the FAQ: Cruise Answer Place--Onboard Experience:

 

For your convenience, Automated Teller Machines for the exchange of foreign currencies are available on vessels sailing out of European ports and on selected exotic itineraries. Use of such machines may involve transaction fees that are subject to change without notice. Please visit the Guest Services/Purser's Desk for more information.

 

I do know that Princess' corporate sibling Cunard will not handle Euro notes larger than 100, not even for making a payment on one's shipboard account at the horrid onboard exchange rate. I imagine this policy applies to all Carnival Corp lines.

Edited February 22, 2015 by fishywood

[caribill]

Thank you in advance for your awnsers. Will princess ships in Europe have any issues breaking 500 Euro notes?

 

It is unlikely that the ship will be able to break the 500 Euro notes.

 

The Passenger Services desk does not normally keep Euros available to make change.

 

The currency exchange machine mentioned in the previous post sells Euros, but does not exchange them for lower denomination notes.

 

You might be able to convince someone in the Purser's office to use some of the lower denomination notes they put into the currency exchange machine to break your 500 Euro notes, but they may say "no."

[SwissDave]

Avoid €500 notes if possible. If you are not able to change them on the ship then you will have to find a bank to change them.

Many business will not touch those notes due to forgery issues.

 

If you can bring €100 or lower notes you will have a much easier time.

[GUT2407]

I wouldn't take them with me for two basic reasons

 

You may have trouble getting them changed anywhere

 

If you exchange them on board you may well get crusified on the exchange rate. And being hit with a poor rate [say 5%] on 50 or 100 Euro is 2.50 or 5.00 on 500 it's 12.50 or 25.00.

[buchananglasgow]

we never take notes over €20, mostly 20,10,5s notes. It's easier to get change.

Not many places will take or change a note that size.

[caribill]

I wouldn't take them with me for two basic reasons

You may have trouble getting them changed anywhere

 

If you exchange them on board you may well get crusified on the exchange rate. And being hit with a poor rate [say 5%] on 50 or 100 Euro is 2.50 or 5.00 on 500 it's 12.50 or 25.00.

 

OP does not want to change them for a different currency which would have a poor exchange rate plus fees. Op just wants a 500 Euro note changed to smaller denomination Euro notes.

 

Not any different in concept than wanting a US $100 bill changed into $20 and $10 bills which the customer service desk (or casino cashier) will willingly do at no charge.

Edited February 22, 2015 by caribill

[Shogun]

Hi All

 

Why carry cash,

 

we use a pre paid euro card,

 

this can be used as a debit card for large purchases,

 

and at any ATM for taking small amounts of cash for tips, taxis etc

 

plus these types of cards have the best exchange rates

 

yours Shogun

[Corfe Mixture]

Avoid €500 notes if possible. If you are not able to change them on the ship then you will have to find a bank to change them.

Many business will not touch those notes due to forgery issues.

 

If you can bring €100 or lower notes you will have a much easier time.

 

Dave is absolutely correct in this statement. The €500 note is one of the highest value banknotes in the world but they are virtually unusable throughout Europe and very very few, if any, traders will accept them.

 

This is because, when they were first introduced, their high value quickly attracted forgers. As a result, as Dave says, you will probably only be able to exchange it in a bank, where they have the facility to check they are genuine.

 

There is also an issue to do with money laundering as their high value has enabled folks to move money around the world without it being traceable. Indeed within a very few years of them being introduced it was estimated that over 25% of all €500 notes were in that part of Spain which is a popular haven for international criminals.

 

This is not scaremongering, it is fact. I live in Europe for five months of the year and not only have I never owned a €500 note, I have never even seen one. As an amusing aside, at one time the popular term for a €500 note was a 'Bin Laden' - everyone knew they existed, but no-one had ever seen one.

 

One other general point for others, who do not live in the Eurozone but have Euro notes tucked away in the safe ready for their next trip to Europe.

 

The first series of notes is in the process of being replaced. This is a gradual process. A new design for the five euro was introduced in early summer 2013 and a new design for the ten euro note was introduced in the autumn of 2014.

 

Both the old and new design of notes are currently in use and no date has yet been set for formerly withdrawing the old notes. The way the changeover process works is that the old design will largely disappear from use simply because all notes have a limited usable life. Because it is now nearly two years since the new five euro note was introduced, we may have already reached the point where banks are no longer re-issuing any old design five euro notes they receive irrespective of their condition. Later there will be an announcement of the withdrawal of the old notes from use, at which point traders will not accept them.

 

This will not mean that the old notes become worthless, simply that traders will not accept them and you will have to take them to a bank to get them changed into new notes.

 

Although I have not had an old design five euro note for some time, there has so far been no announcement of the date for withdrawing the old five euro notes. However, as the new note has now been around for almost two years, that date cannot be too far into the future.

 

I do still have both old design and new design ten euro notes in my wallet.

 

CM

Edited February 22, 2015 by Corfe Mixture

[Corfe Mixture]

Hi All

 

Why carry cash,

 

we use a pre paid euro card,

 

this can be used as a debit card for large purchases,

 

and at any ATM for taking small amounts of cash for tips, taxis etc

 

plus these types of cards have the best exchange rates

 

yours Shogun

 

As a UK citizen, why not get either a Halifax or Nationwide select credit card, which give you commission free purchases which is a much better deal than pre-paid euro cards.

 

Earlier this week, I paid a €2217.10 euro bill using my Nationwide credit card and it got billed at £1635.03 which works out as being an exchange rate of€1.356 / £1.

[GUT2407]

OP does not want to change them for a different currency which would have a poor exchange rate plus fees. Op just wants a 500 Euro note changed to smaller denomination Euro notes.

 

Not any different in concept than wanting a US $100 bill changed into $20 and $10 bills which the customer service desk (or casino cashier) will willingly do at no charge.

 

 

I may have misunderstood them.

 

But there is a BIG difference between $100US and 500 Euro, if you don't think so I'll swap you a fist full of US$100 for the same number of 500 Euro notes. :D

[Corfe Mixture]

As a UK citizen, why not get either a Halifax or Nationwide select credit card, which give you commission free purchases which is a much better deal than pre-paid euro cards.

 

Earlier this week, I paid a €2217.10 euro bill using my Nationwide credit card and it got billed at £1635.03 which works out as being an exchange rate of€1.356 / £1.

 

Oops, it appears that there was a €2.20 credit on my account and I was actually billed for €2214.90 which works out as being a rate of 1.355.

 

Date of transaction being processed was 21st February.

 

Current best rate on pre-paid cards, according to moneysupermarket is 1.337 which would have cost me £1656.62

[Kineticoh20]

Let me qualify my question. Most of my tours require cash at completion. When including tips, incidentals, or any other fees that a credit card can not be used I will go through quite a bit of money. I thought stashing 3 or 4 thousand in 500 notes would eliminate the need for a large wad of cash.

[Shogun]

Hi

 

Still would not take cash, just take a pre loaded Euro card and draw cash as required from local ATM

 

yours Shogun

[Shogun]

Hi All

 

I C E rate is 1.33 but has 1.5% cash back

 

yours Shogun

[buchananglasgow]

what we are trying to get across to the op is that people won't except €500 euro notes, so please don't take them if that's the only cash you are intending to take. Either preload a travel card with cash or take smaller notes like 20s downwards.

[thinfool]

Let me qualify my question. Most of my tours require cash at completion. When including tips, incidentals, or any other fees that a credit card can not be used I will go through quite a bit of money. I thought stashing 3 or 4 thousand in 500 notes would eliminate the need for a large wad of cash.

 

I suggest you put the 'monkey on the back' of your tour providers. Tell them of your dilemma and see what they recommend.

 

If they want your money, they'll find a way to get it.

[Corfe Mixture]

I suggest you put the 'monkey on the back' of your tour providers. Tell them of your dilemma and see what they recommend.

 

If they want your money, they'll find a way to get it.

 

To the OP,

 

Please please, accept what SwissDave, buchananglasgow, and myself are trying to tell you.

 

The €500 note is a very rare beast in terms of common use in Europe and very few people who live in the Eurozone have ever seen one.

 

As thinfool says, 'If they want your money, they'll find a way to get it.'

 

However, be very sure that way WILL NOT include them taking the risk of accepting a dodgy $570 bill.

 

The best you can hope for is that they will give you a lift to a bank with teller facilities, but remember also that in many parts of Europe, bank branches do not have teller facilities, other than ATMs, and are set up to serve only those clients needs which can not be done at an ATM.

 

As a result, not all bank branches will be able to change your €500 bill.

 

I am speaking from personal knowledge. I have a French bank account and if I tried to pay in cash over the counter at my local brank, all they would very politely do is to take me to the ATM and help me to pay the cash into my account through the automated teller.

 

Indeed, the most cost effective manner of transferring money from my UK bank account to my French bank account is to go to the ATM, at my French bank, with my UK commission free debit card and draw out €600 euros on my card, €600 euros on my wife's card and then use my French Bank card in the same ATM to pay the €1200 into my French Bank account.

 

The bottom line is that, if the OP doesn't want to carry a wad of cash, and doesn't have a debit card which offers commission free cash withdrawals then he/she should do as Shogun suggests and get a pre-loaded euro card which he/she can then use to get cash out of an ATM. It will not only be easier, but he/she will also get a much better exchange rate.

 

Basically I would say this to the OP.

 

You have two choices.

 

Listen to those of us who live over here, or listen to folks who don't live over here but have a view on how things should be.

 

In the end it is your call.

Edited February 22, 2015 by Corfe Mixture

[Hlitner]

Hmmm. When we were recently on the Ruby Princess the only way to get Euros (onboard) was out of automatic change machines (they had one near the International Café). I do not recall that these machines would give change, but they merely exchanged US dollars for Euros (at an awful exchange rate plus fees). Personally, we just get all of our Euros out of ATMs in Europe. As to changing a 500 Euro note, maybe yes and maybe no...depending on the purser. And using a 500 Euro note within Europe will also be difficult as many merchants/restaurants are not going to want that size bill. Think in terms of how hard it would be to use a $500 bill in many So California places.

 

I would assume that you could break a 500 Euro note at most European banks...assuming they would do business with a non account holder.

 

Hank

[Corfe Mixture]

 

I would assume that you could break a 500 Euro note at most European banks...assuming they would do business with a non account holder.

 

Hank

 

Therein is the problem. With respect you are 'assuming'.

 

In the case of my bank, in France, it is not about whether or not they would deal with non account holders, but whether or not they can. If I ever found myself with a €500 note, the only way I could split it would be to pay it into my account through the ATM and then, the next day, (after the paying in envelope has been checked) withdraw €500 from the ATM which will pay out in a mix of 10s, 20s and 50s.

 

In fact, on reflection, if I did somehow find myself with a €500 note, probably the only thing I could do with it would be to pay it into my bank account.

 

Indeed, if I tried to present a note in my local restaurant, even folks who know me would wonder where I got it from as all anyone can really do with a €500 note is to pay it into a bank account.

 

Remember also, that if anyone arrives in the Eurozone carrying more than 20 x €500 notes, actually more than €10,000 or equivalent in another currency, then anti money laundering law requires them to declare it and present proof of its legitimate source.

Edited February 23, 2015 by Corfe Mixture

[SadieN]

OP---

How about a mixture of €200 and €100 notes?

Still would have a bit of a problem breaking them. I had a huge issue buying just under €30 worth of groceries with a €50 in Rome.