Cost of euros on a ship

[peagreenid]

We opened a separate checking account with debit cards through USAA.  We have a separate bank account for our home.  We never use our home checking account for pulling money out at a foreign ATM. I don't want our home funds lost  should someone have a skimmer placed etc.   We deposit money in the USAA account we are going to travel and then that is the Debit card we use at the ATM.  We have a 1% foreign transaction fee which I feel is pretty nominal plus the transaction fee for using a bank outside of my network.  Several years ago we traveled with a lot of folks on a cruise and several pre-ordered Euros for an exorbitant price.  We withdrew Euro's from an ATM in Barcelona for $1.08 plus the 1% fee. 

I thought it was the best thing since sliced bread and we have been operating this way for travel since.  

[Booboochase]

7 hours ago, peagreenid said:

We opened a separate checking account with debit cards through USAA.  We have a separate bank account for our home.  We never use our home checking account for pulling money out at a foreign ATM. I don't want our home funds lost  should someone have a skimmer placed etc.   We deposit money in the USAA account we are going to travel and then that is the Debit card we use at the ATM.  We have a 1% foreign transaction fee which I feel is pretty nominal plus the transaction fee for using a bank outside of my network.  Several years ago we traveled with a lot of folks on a cruise and several pre-ordered Euros for an exorbitant price.  We withdrew Euro's from an ATM in Barcelona for $1.08 plus the 1% fee. 

I thought it was the best thing since sliced bread and we have been operating this way for travel since.  

Great idea.  Definitely worried about using our main account to withdraw funds at an airport. Wondering how it would work purchasing a visa gift card prior to travel, and then withdrawing funds at (Athens or Rome) Airport? Has anyone tried this?

[SCX22]

11 minutes ago, Booboochase said:

Great idea.  Definitely worried about using our main account to withdraw funds at an airport. Wondering how it would work purchasing a visa gift card prior to travel, and then withdrawing funds at (Athens or Rome) Airport? Has anyone tried this?

 

There's a Visa gift card and a Visa prepaid card. 

 

Visa gift cards cannot be used at ATMs because of money laundering concerns.  People who wanted to wash money could by a bunch of Visa gift cards and withdraw the cash from an ATM.  No identity attached to the card, so tracing the source money would be hard.

 

A Visa prepaid card can be used at ATMs.  There is an identity attached to the card and the card can be reloaded.  The account holder is loading money on to the card.  If there was any suspicion of money laundering, an institution/law enforcement can freeze the card and go after the account holder.

[Booboochase]

6 hours ago, SCX22 said:

 

There's a Visa gift card and a Visa prepaid card. 

 

Visa gift cards cannot be used at ATMs because of money laundering concerns.  People who wanted to wash money could by a bunch of Visa gift cards and withdraw the cash from an ATM.  No identity attached to the card, so tracing the source money would be hard.

 

A Visa prepaid card can be used at ATMs.  There is an identity attached to the card and the card can be reloaded.  The account holder is loading money on to the card.  If there was any suspicion of money laundering, an institution/law enforcement can freeze the card and go after the account holder.

Thank you SCX22 for clarifying!! Appreciate it!

[cruisequeen4ever]

Don’t rely on the ship to be able to exchange money for you. The Enchanted was out of Euros the entire 2 weeks we were onboard, and they don’t have a currency exchange machine like the Europe ships had pre-pandemic.

[HMSDingy]

On 7/23/2023 at 3:57 PM, Steelers36 said:

The ones in Canadian airports may as well have a gun and stick you up.  I wouldn't buy currency in an airport.  That said, it seems to me that some small foreign place we were once was okay at one location and I had read about it (a DR airport, perhaps??).  Best idea is a local bank to exchange funds.  It may have been in the DR, but I mainly used a bank in downtown Las Terrenas with the best rate.

 

I agree, the exchange booths at Trudeau Airport in Montreal not only charge ridiculous rates but they tag on an obscene fee as well. I get my euros through my son who works for RBC and he gets a preferred rate with no fee. But I will check out the ATM's during our European cruise this summer. I was going to bring a large amount of euros but have been advised not too and use cc's as much as possible.

[Kellyann]

I went to TD bank and got euros and pounds.  I didn't think the rate was a bargain plus they charged a $7.50 transaction fee for each.  If my ship, Caribbean Princess, can exchange US$'s to foreign currency on a transatlantic, can they exchange any leftover back to US$'s near the end of cruise?  Can I use euros or pounds to gamble?  To avoid taking extra US$s for gambling, can I charge the amount each day in the casino to my room and pay with credit card at the end of cruise?

[BamaVol]

I always come home with a little extra foreign currency.  I put it aside in a drawer with a note to my grandson that upon my demise, he is to return it all to the country of origin.

[ProfMHC]

1 minute ago, BamaVol said:

I always come home with a little extra foreign currency.  I put it aside in a drawer with a note to my grandson that upon my demise, he is to return it all to the country of origin.

Terrific! Now I have a note to write to put in the little wallet for my own grandson!

[BamaVol]

32 minutes ago, ProfMHC said:

Terrific! Now I have a note to write to put in the little wallet for my own grandson!

I’m sure it goes without saying that I’m leaving him enough US currency to make this an adventure instead of a burden.

[Mississippian]

Princess no longer provides currency exchange. Your best bet is to use a no-fee card to get euros. Even if the card has fees, it is still better than the outlandish fees charged by exchange booths.

 

Once upon a time it was possible to use any ATM in Europe to get a rate. No more. There are now "Euronet" ATM machines everywhere, and these machines are an absolute scam, with ultra high fees and conversion fees. Do not use them. Today, the only ATM machines you should use are those actually connected to a bank, either on an outside wall or else in the little walk-in place they provide. Even these machines will offer to charge you in your own currency, which you should decline, because your credit or debit card will always give you a much, much better rate.

 

Wells Fargo and other banks used to provide euros at fairly reasonable rates, and it can be helpful to arrive in Europe with at least a couple of hundred euros, just to pay the taxi to the hotel, etc.

[tml1230]

15 hours ago, BamaVol said:

I’m sure it goes without saying that I’m leaving him enough US currency to make this an adventure instead of a burden.

your post made me smile! what a GREAT idea!! I plan on fooling your lead with my 3 granddaughters....safe travels and thanks again for a great idea!  

 

GO GATORS !!

[Senga]

21 hours ago, Mississippian said:

Princess no longer provides currency exchange. 

When was this changed?  We bought euros with U.S. dollars on board Enchanted Princess in September and others noted above that Princess did indeed allow the purchase of euros.

[Arizona Wildcat]

On 7/20/2023 at 12:49 PM, Hello, Newman said:

Princess absolutely DOES provide this service.  On our recent transatlantic cruise on the Enchanted Princess we stopped by Guest Services and exchanged a few hundred US dollars to Euros.  

Yes if sailing in Europe you could get Euros on board.  But the 3% exchange fee charged by some DEBIT cards is far less than getting then on board, at home from your bank or using a credit card and a cash advance.

Just use a BANK ATM using a debit card when you arrive overseas. 

[artvlay]

On 7/21/2023 at 1:27 PM, JGmf said:

In Europe (like anywhere) just make sure you use an ATM that's inside a bank (or hotel), not just any random ATM in what appears to be a very public place.  I learned the hard way - my card was skimmed in Copenhagen.  That sucked.

I was told not to use ATMs in an airport as they charge higher fees and exchange rates.

Is this correct?

[Nodakrulz]

I believe in being prepared before traveling. Before we went on our cruise last summer, I ordered 300 Euros from the bank so that I wouldn't have to worry right away when we arrived in Europe.  We knew going into our cruise that our last excursion would require payment in cash in Euros (about 500 euros).  Based on the advice I read, I figured that we would just stop at ATMS while in ports to get the euros we would need.  

 

Though we didn't get currency at the airport (our flight was delayed and our ride was waiting), we started looking for ATMs a few days into our 14 day cruise.  Most of the ATMs were out of order, out of money (we had this experience in several countries), or in sketchy areas.  So we ended up visiting the ATM in the casino and then taking it down to guest services.  It was a TERRIBLE exchange rate.  I wished I had just gotten more money from the bank ahead of time to avoid the stress of the whole situation.

 

Each person has the their own situation and personality.  My type A personality likes to be prepared!

[Joanne G.]

23 minutes ago, Nodakrulz said:

I believe in being prepared before traveling. Before we went on our cruise last summer, I ordered 300 Euros from the bank so that I wouldn't have to worry right away when we arrived in Europe.  We knew going into our cruise that our last excursion would require payment in cash in Euros (about 500 euros).  Based on the advice I read, I figured that we would just stop at ATMS while in ports to get the euros we would need.  

 

Though we didn't get currency at the airport (our flight was delayed and our ride was waiting), we started looking for ATMs a few days into our 14 day cruise.  Most of the ATMs were out of order, out of money (we had this experience in several countries), or in sketchy areas.  So we ended up visiting the ATM in the casino and then taking it down to guest services.  It was a TERRIBLE exchange rate.  I wished I had just gotten more money from the bank ahead of time to avoid the stress of the whole situation.

 

Each person has the their own situation and personality.  My type A personality likes to be prepared!

I’m with you.  I like to be prepared, and I get euros and/or British pounds from my local bank before the trip.   They don’t charge a fee, and if the exchange rate is a few fractions of a percentage point more than an overseas ATM, that’s insignificant for the quantity I am getting.  I can specify some small bills which are useful for tipping tour guides.   I generally take ship-sponsored excursions on my European cruises, and I can’t count on the opportunity or time to hunt for an ATM when on a group tour.  And by getting currency before my trip, I don’t worry about my ATM card being compromised overseas.   We all manage our money in the way that works for us, and this works for me.   
 

I get a lot less currency these days than I did before Covid, as credit cards are so widely accepted, even for small purchases. 

[cruisinsince75]

17 hours ago, artvlay said:

I was told not to use ATMs in an airport as they charge higher fees and exchange rates.

Is this correct?

In Europe ATMs are called Bancomats.  At airports use one only from an actual Bank and not one attached to a currency exchange.  Use your debit card and not a credit card.  The exchange rate will be calculated by your bank and you will pay a small foreign transaction fee (generally 1-3%).  

 

At stores and restaurants, I always use my credit card that has no foreign transaction fees