mermamasailsagain Posted May 27, 2015 #1 Share Posted May 27, 2015 We're on the Reflection in the Mediterranean soon and I'm wondering if anyone tried cashing travellers cheques in Euros onboard.... I understand they will do both American and Euro but is it true there is a 3% exchange rate (I'm thinking the person who told me this meant fee, maybe, as no exchange is involved?) Just like to get a little confirmation as the person I asked had to look it up and didn't have any knowledge of it in advance. Thanks Link to comment Share on other sites More sharing options...
TRAVELBABE1 Posted May 28, 2015 #2 Share Posted May 28, 2015 We're on the Reflection in the Mediterranean soon and I'm wondering if anyone tried cashing travellers cheques in Euros onboard.... I understand they will do both American and Euro but is it true there is a 3% exchange rate (I'm thinking the person who told me this meant fee, maybe, as no exchange is involved?)Just like to get a little confirmation as the person I asked had to look it up and didn't have any knowledge of it in advance. Thanks What? Traveler's checks still exist? Link to comment Share on other sites More sharing options...
mermamasailsagain Posted May 28, 2015 Author #3 Share Posted May 28, 2015 LOL!! Yes, they do and we haven't used them because they became such a pain needing a passport and credit cards were more useful, but in this case, I'd rather not use our credit card in Italy or carry too much cash and risk having it pickpocketed, yet need Euros for private tours. It could be terrific to cash onboard. Link to comment Share on other sites More sharing options...
Seenie Posted May 28, 2015 #4 Share Posted May 28, 2015 There is a bank machine onboard which will accept your debit card. The service charge is worth the convenience and the exchange rate isn't too bad. If you use the ATM, you will withdraw only what you need, and not be left with unused TCs at the end of the trip. Something else I've done is put a fat credit balance on a credit card and then get cash using it. The exchange rate on CCs is usually pretty favourable. Sent from my iPad using Tapatalk Link to comment Share on other sites More sharing options...
mermamasailsagain Posted May 28, 2015 Author #5 Share Posted May 28, 2015 Never used a debit abroad and wondering how the exchange rate is from Canadian to Euro onboard... certainly wouldn't want them converting to US$ before they converted to Euro...double whammy! Link to comment Share on other sites More sharing options...
Christine Frances Posted May 28, 2015 #6 Share Posted May 28, 2015 (edited) We're on the Reflection in the Mediterranean soon and I'm wondering if anyone tried cashing travellers cheques in Euros onboard.... I understand they will do both American and Euro but is it true there is a 3% exchange rate (I'm thinking the person who told me this meant fee, maybe, as no exchange is involved?) Just like to get a little confirmation as the person I asked had to look it up and didn't have any knowledge of it in advance. Thanks As we are from Canada, on our last cruise in Nov we took USD and Euro TC's. Worked perfectly. We exchanged both the Euro and USD TC's for cash at Guest Relations with no charge/problem. Always use TC's We only use them when we cruise as they are hard to cash in other places Edited May 28, 2015 by Christine Frances Link to comment Share on other sites More sharing options...
mermamasailsagain Posted May 28, 2015 Author #7 Share Posted May 28, 2015 (edited) Thanks, Christine! Do you recall the fee they charged you for doing this? Good news! (Oh! and Seenie! Just noticed that you were Canadian too. Do you recall fees for the ATM... I have no idea what to expect though I know our bank is fee free so it might be another option.) Edited May 28, 2015 by mermamasailsagain Link to comment Share on other sites More sharing options...
WestLakeGirl Posted May 28, 2015 #8 Share Posted May 28, 2015 Your bank might be fee free but the ATM charges $6 per withdraw transaction Link to comment Share on other sites More sharing options...
Happy Cruiser 6143 Posted May 28, 2015 #9 Share Posted May 28, 2015 If you bring the Euros you will need with you in a money belt, then you can store them in your safe. Only take out the Euros you will need for that day's tour. I usually parcel mine out in envelopes so that I have correct change for the tour operators. Linda Link to comment Share on other sites More sharing options...
sseuorosal Posted May 28, 2015 #10 Share Posted May 28, 2015 The service charge is worth the convenience and the exchange rate isn't too bad. Link to comment Share on other sites More sharing options...
Project_gal Posted May 28, 2015 #11 Share Posted May 28, 2015 (edited) I note that the OP is from Canada. Regardless of the poor exchange rate and any fee charged on board, cashing Euro Travellers Cheques on board is a bad idea. The OP will already have made a loss from the exchange rate converting Canadian Dollars into Euros and will make another loss converting the Euros into US Dollars. If the OP actually wants cash in Euros, there will be a further exchange rate loss converting the US Dollars into Euros. The ship works [in the same way as any foreign exchange counter] in a base currency of US Dollars. Any conversion from one non-US$ currency to another non-US$ currency triangulates via US$. It may be convenient to use the ship's exchange but it is a very expensive convenience. Edited May 28, 2015 by Project_gal Link to comment Share on other sites More sharing options...
BSinPNS Posted May 28, 2015 #12 Share Posted May 28, 2015 We were in South America and used the ATM. Fee was 6 USD per transaction. Transactions were posted as BB&T Miami. Link to comment Share on other sites More sharing options...
tartana Posted May 28, 2015 #13 Share Posted May 28, 2015 I'm assuming you get US dollars out of the ATM? If that is the case, it is another conversion to Euros to pay the tours. I can see the exchange rate fees/values adding up pretty fast :( Link to comment Share on other sites More sharing options...
Wiltonian Posted May 28, 2015 #14 Share Posted May 28, 2015 Assuming you can sort out compatibility issues with cards and ATMs, the cheapest way of getting cash is increasingly through debit or credit cards at ATMs. Some charge for 'foreign' transactions, but not all. Some charge for cash withdrawals, but not all. I have a credit card which charges for neither, and consistently gives me a conversion rate that betters anything you can get in banks or on board. TCs have very very few advantages, especially if using on-board facilities, which are never the cheapest. Stuart Link to comment Share on other sites More sharing options...
Pushka Posted May 28, 2015 #15 Share Posted May 28, 2015 ATM's onboard dispense Euros in the Med. Link to comment Share on other sites More sharing options...
Rufferto Posted May 28, 2015 #16 Share Posted May 28, 2015 ATM's onboard dispense Euros in the Med. I think I remember this too. I didn't use one, but I think one dispensed US$ (the one closest to the casino obviously), and there was a second one set up to dispense Euros. Link to comment Share on other sites More sharing options...
mermamasailsagain Posted May 28, 2015 Author #17 Share Posted May 28, 2015 Well I did get good responses but now I'm just confused! I will have Euro travellers' cheques so I don't see why I'd pay conversion if they give me Euros and I'd assume a 3% fee for cashing them. As for the ATM, good backup but if I can take TC's 3% is better than $6US or about $8 a shot for what I'd expect couldn't be more than the equivalent of the $300 a day withdrawal that you are allowed. Hopefully the Canadians who experienced this could enlighten me on the fees. Taking money from my credit card would be a cash advance with a huge daily rate. Link to comment Share on other sites More sharing options...
Wiltonian Posted May 28, 2015 #18 Share Posted May 28, 2015 (edited) Taking money from my credit card would be a cash advance with a huge daily rate. The cost would be high only if you didn't clear it immediately from your current/checking account. I do just that, and paid 3p (5c) interest on my last cruise. Far less than my bank would charge for a foreign transaction. Actual rates on cards can be less than TCs - nominal charges are just that! But I agree you need a low-fee card. Stuart Edited May 28, 2015 by Wiltonian Link to comment Share on other sites More sharing options...
CathyCruises Posted May 28, 2015 #19 Share Posted May 28, 2015 We just spent a month post cruise in Europe. Used ATMs everywhere for cash. Best exchange rate and our bank (Charles Schwab) has no ATM fee no matter which one you use. As far as I know, this is the cheapest way to get cash in Europe. For most purchases like meals, hotels, etc. we used a credit card with no foreign transaction fee. We have a card with a chip and it was a breeze everywhere. I like having the statement to check to be sure there are no unwarranted charges (vs using a debit card). It worked well for us, YMMV Link to comment Share on other sites More sharing options...
Christine Frances Posted May 28, 2015 #20 Share Posted May 28, 2015 I note that the OP is from Canada. Regardless of the poor exchange rate and any fee charged on board, cashing Euro Travellers Cheques on board is a bad idea. The OP will already have made a loss from the exchange rate converting Canadian Dollars into Euros and will make another loss converting the Euros into US Dollars. If the OP actually wants cash in Euros, there will be a further exchange rate loss converting the US Dollars into Euros. The ship works [in the same way as any foreign exchange counter] in a base currency of US Dollars. Any conversion from one non-US$ currency to another non-US$ currency triangulates via US$. It may be convenient to use the ship's exchange but it is a very expensive convenience. Actually there are no fees charged on board for doing this. Celebrity exchanges Euro TC's for Euro notes and US TC's for Us cash straight across (no exchange rate conversion involved) with no cost. We have bank accounts in both currencies and any unused TC are re deposited. This worked very well for us on our Med cruises. We buy both currencies over the year when we feel the rates are good. But we never buy TC's for any other purpose Link to comment Share on other sites More sharing options...
Project_gal Posted May 28, 2015 #21 Share Posted May 28, 2015 Actually there are no fees charged on board for doing this. Celebrity exchanges Euro TC's for Euro notes and US TC's for Us cash straight across (no exchange rate conversion involved) with no cost. We have bank accounts in both currencies and any unused TC are re deposited. This worked very well for us on our Med cruises. We buy both currencies over the year when we feel the rates are good. But we never buy TC's for any other purpose My mistake. It was too early in the morning. I thought that the OP asked about cashing Euros and then purchasing another currency with them. As I said, far too early ... Link to comment Share on other sites More sharing options...
mermamasailsagain Posted June 29, 2015 Author #22 Share Posted June 29, 2015 Hi I'm back and wanted to share my experience. I've also posted the same on a more recent traveller's check post. Christine, it was you here as in the last post... I hope if you are going on another cruise, you'll take back up! I appreciated your advice but it didn't work for me. Sample of another case of misinformation from Celebrity! I was very happy pre-cruise to get Christine's response about taking Euro TC onboard to cash. I even called Captain's Club to confirm and had her doublecheck....June 8th, Reflection, YES, Amber said, I'm sure you can cash onboard Euro and American traveller's checks for a 3% fee (okay..I'd heard for no charge but that was fair enough). A few days before our departure, I had my bank call 5 branches and found them downtown Toronto, spent the time going to the head branch only to find they'd used their last and got sent to yet another branch a few blocks away where after a brief conference, they found them, dusted them off and charged me a fee, which I think I'm supposed to be exempt from so there's another battle yet to follow up. First day onboard, cheery to start my journey, I went to guest relations to cash my checks where the rep told me, sorry... they don't...or, let me correct myself: they will take your Euro Tchecks and convert them to American and then back to Euros which would lose me 15%!! I'm not kidding...and don't forget to factor in that I had already converted my Canadian dollars to Euros!! I argued that Captain's Club confirmed what an Elite cruiser had told me was a sure thing. Her response was so sorry but it must be a recent policy and she was following Bank of America rules...REALLY...this policy changed within ONE WEEK? I didn't win the argument after she checked with the invisible controller in the next room.(just to add, our passports had also been kept by the ship during the cruise and though I'd heard my odds of cashing the checks weren't much better on land, we had the identification issue too) A few days later a bottle of wine and strawberries appeared in our room with apologies for my disappointment. The cruise was fantastic and the crew wonderful but this issue irked me as now I had to use ATMs (yes, I've learned they work well by this experience but this added stress at the time and I thought I already had a tried and true solution for safely carrying 'cash'), and I needed to come back to let those CruiseCritic members to whom I'd said..'wow..here's a great idea for you', that you should NOT take TCs so I wanted to understand this and I wanted to see if I got a different answer. Back to guest relations and told the story again to a new rep...this time the answer I got was that the policy had been in effect for at least two years that she was aware of....... Celebrity, I work for a large hospital with a number of sites...why can't you catch up to this century and have an intranet system where policies are updated and staff have one true source with the RIGHT and updated responses! My recommendation is not to take Traveller's checks and learn how to use the ATM. Carry cash and stash some in a security pouch so you can get through to the next port or two. Link to comment Share on other sites More sharing options...
wifeofbedo Posted June 29, 2015 #23 Share Posted June 29, 2015 Hijust to add, our passports had also been kept by the ship during the cruise and though I'd heard my odds of cashing the checks weren't much better on land, we had the identification issue too) Did I read this right? Does the cruise line take your passports on a Mediterranean cruise for the whole cruise? If so, why? I have never had this happen on any other itinerary. Link to comment Share on other sites More sharing options...
Christine Frances Posted June 29, 2015 #24 Share Posted June 29, 2015 I am so sorry for how it worked out for you:(. When we did it with no problem, it was a 28 nt B2B almost exactly 2 yrs ago (may 28/13 to the Med an Baltic's ). I feel so bad I led you astray. I thought it was a wonderful service as I had so many guides to pay. It is bad enough for us Canadians working with the different currency's to have to deal with me throwing you a curve. Link to comment Share on other sites More sharing options...
mermamasailsagain Posted June 29, 2015 Author #25 Share Posted June 29, 2015 Oh, please, Christine...not at ALL your fault. Don't forget I called Captain's Club right after you said that and she confirmed it. I just thought it was an extra 3% change. If it sounded like that in my post, I apologize. You had good advice, but it had just changed and even Celebrity wasn't 100% in their answers depending upon who you asked. I just want you to be aware and anyone else I may have led astray :) ...but don't be surprised if it works for you next time...Hahah! Just have a back up in case. Link to comment Share on other sites More sharing options...
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