Money exchange

[Utah-Tiki]

I’m not a first time cruiser, but I have a “newbie” question. Most of the ports we will be going to on our upcoming Caribbean cruise accepts US dollars, especially right by the port. However, my daughter’s favorite souvenir to receive after our trips is the local currency. She doesn’t want a lot - just like the equivalent of $5-10. How do I get this without exchanging a lot of cash or having to pay a huge fee for a small transaction? I would love any ideas.

 

thanks,

 

Tammy

[Essiesmom]

Tell her to buy a souvenir with USD and ask them to give her change in the local currency.  In the Bahamas the money is equal, so she could just give them US money and ask for the equivalent back in Bahamian dollars.  Panama’s currency is also pegged to the dollar so you might do the same.  EM

[ldubs]

I like @Essiesmom's approach.  Another is to explain to a vendor you collect foreign currency then ask  to exchange their currency for your $5 or $10.  Ask them to keep a buck for their troubles.  Might be a lousy exchange rate, but we are only talking about a few bucks.

 

Edit:  It occurs that what I'm suggesting could possibly be illegal.  

Edited June 5 by ldubs

[cruiseaholic777]

We just came back from the Bahamas and when we got our change for our drinks I ask for my change in Bahamian bills. My granddaughters loved it.

[John Bull]

On 6/6/2024 at 12:16 AM, ldubs said:

 

 

Edit:  It occurs that what I'm suggesting could possibly be illegal.  

 

Possibly illegal in Cuba when they had two currencies - the local currency CUP (Cuban peso) and the CUC (convetible peso) for non-doms eg tourists. 

But  doubt that many were thrown into jail for exporting a couple of $-worth 😏 

 

JB 🙂

[Honolulu Blue]

On 6/5/2024 at 12:03 PM, Essiesmom said:

Panama’s currency is also pegged to the dollar

Panama's currency IS the U.S. dollar.  They call it a "Balboa".

 

Another suggestion to the OP is that some vendors in some ports sell blister packs with local coins or currency.  They're very pricey for what you get, but it is an option.  I have bought a few of these over the years from various countries.

Edited June 7 by Honolulu Blue

[verviers2000]

I totally understand where your daughter's coming from – collecting local currency is such a neat thing. You could try grabbing some from an ATM around the port, just watch out for those sneaky fees some of them slap on.

[Utah-Tiki]

On 6/5/2024 at 5:16 PM, ldubs said:

I like @Essiesmom's approach.  Another is to explain to a vendor you collect foreign currency then ask  to exchange their currency for your $5 or $10.  Ask them to keep a buck for their troubles.  Might be a lousy exchange rate, but we are only talking about a few bucks.

 

Edit:  It occurs that what I'm suggesting could possibly be illegal.  

Why would that be illegal?

[ldubs]

5 hours ago, Utah-Tiki said:

Why would that be illegal?

 

Good question.  It probably isn't.  It just occurred to me gov't foreign exchange reg's or black market laws might be strict in some countries.  Or more lax.   I sure don't know and I personally wouldn't worry about it. 

[broadwaybaby123]

You could always ask where the nearest bank branch is and ask them to exchange the money.

[KBS1607]

It is not just kids. Maybe kids at heart. My husband of 40 years loved this on our Baltic cruise in 2019. 
 

He would be at the ship’s currency exchange (I know not the best place) getting each country’s currency. 

[Hlitner]

On 6/17/2024 at 12:15 AM, broadwaybaby123 said:

You could always ask where the nearest bank branch is and ask them to exchange the money.

Not always!  Many banks, especially in northern Europe, will not exchange currency for non-customers.  I have sometimes seen signs, in bank windows, making it clear they do not change currency.  There are sometimes free-standing currency kiosks, or even currency exchange vending machines, but you are not going to get a favorable rate.  The best deals are either from an ATM (which is how most folks get currency) or using a major credit card with no foreign exchange fee (i.e. Chase Sapphire, AMEX Platinum, etc).

 

As to getting Caribbean currency (for a collector) the easiest way is to buy something with dollars and ask for change in local currency.  

 

Hank

 

 

[Hezu]

On 6/29/2024 at 1:40 AM, Hlitner said:

Not always!  Many banks, especially in northern Europe, will not exchange currency for non-customers.

And at least in Finland, I think the banks do not offer currency conversion services for anyone these days and majority of bank branches do no longer handle any cash transactions even in the local currency (= euro) and if they do offer the service opening hours for the service can be very limited. I guess that is somewhat understandable as cash usage has been on decline and majority of payments are made with credit or debit cards. And the number of bank branches is also on decline as much of the banking services can be done online these days. 

[SbbquilterUT]

We have had no issues using a bank ATM throughout Europe - be sure to look carefully at the amount of currency as sometimes there are smaller amounts if you scroll further down the screen.  Also choose charge in local currency (do not convert) as your bank will give you a more favorable rate.