Exchanging Euro

[HKG]

Any advise on exchanging Euro, either in US or wait till arrive in europe by using ATM.

 

Thank you

[Essiesmom]

Using an ATM in Europe is the most economical. The ship would give you euros in a cash advance off your credit card, but charged a 3% fee, and the credit card company would charge you a cash advance fee, plus foreign currency conversion fee. They exchanged cash without a fee. I used the first ATM I came to and my debit card. I had already notified my bank I would be doing this. The bank charged a $5.50 foreign currency exchange fee, and $5 ATM fee. This was for 200 euros. EM

[Keith1010]

I too would wait till you get to Europe to use the ATM to obtain Euoros. There is a limit as to how much money you can obtain each day so be sure you know the rules before you leave so that there are no surprises.

 

You may know this already but before your trip be sure to call the ATM card provider to provide them the details on your trip including the dates and the countries to be visited. Also, be sure to do this for your credit cards. That way the companies won't think the transactions are fraud related. Right down your ATM card numbers and contact numbers somewhere just in case the card is not returned from the ATM machine. Be sure that you know how to reach each company from outside the USA.

 

Keith

[kadey]

Why not exchange US $$ for Euros at your own bank before leaving on your trip? Are the fees at our own banks higher then using the ATM machine ? Thanks-Kade

[paul929207]

We always wait until we gt to Europe. US banks don't seem to have very good exchange rates.

[navybankerteacher]

Why not exchange US $$ for Euros at your own bank before leaving on your trip? Are the fees at our own banks higher then using the ATM machine ? Thanks-Kade

 

Yes - foreign currency exchanges in US are costly - the best rate by far is through an ATM located in the country whose currency you want. Itis a good idea to have some travelers checks with you to get US dollars aboard ship, or in case of emergency. As an extra caution I always carry two ATM cards - one for my regular account and the other on my moneymarket A/C - nothing worse than having an ATM card not work for some reason when you're far from home.

[cruisemom42]

Why not exchange US $$ for Euros at your own bank before leaving on your trip? Are the fees at our own banks higher then using the ATM machine ? Thanks-Kade

 

Yes. The best rate most people will get is by using the ATM for euro.

 

Beware of banks that say they have no fee or only a small fee. They usually "hide" their fee by using a less favorable rate of exchange.

[fann1sh]

A thread on foreign exchange/saving money:

 

http://boards.cruisecritic.com/showthread.php?t=956800

 

Know the exchange rate when you leave - and there are 2 rates you should know. Today 1 Euro costs around $1.30. Also, $1 buys about .77 of a Euro. People get confused - one looks like 30% (premium), the other looks like 23% (discount)...but they're really the same rate. Know both official numbers, then you'll know how much the exchange will cost you.

 

I'm not as big a fan of ATM's as some, because of the kind of fees EssiesMom paid. I realize convenience is also worth something, as well as saved time when every minute in port in precious. But, at least ask if there's an international exchange center near the pier, as this is almost always the cheapest. Anyone doing exchange will at least charge around 1.5 - 3% extra on the transaction. Exchange is not a charitable public service, but for profit, so you're going to lose something; the idea is to keep it as tiny as possible.

[yogi2929]

Using an ATM in Europe is the most economical. The ship ..............exchanged cash without a fee. EM

 

So, in theory, I could get US$ from a slot machine, download it to my Players Club, cash out and then go to the pursers to exchange US$ for Euros. No cash advance fee.

 

Right?:confused:

[cruiselover57]

Any advise on exchanging Euro, either in US or wait till arrive in europe by using ATM.

 

Thank you

 

Change it when you're there - I was only charged a 1% fee - no other hidden fees either.

[infoprof56]

So, in theory, I could get US$ from a slot machine, download it to my Players Club, cash out and then go to the pursers to exchange US$ for Euros. No cash advance fee.

 

Right?:confused:

 

Depends on what line you're on how they charge casino purchases. When we were on Celebrity in Europe, they let you get cash (US Dollars) in the casino for no service fee on your ship board account. Since the credit card company only saw the total charge at the end there was no fee from them either (they must ahve asumed we drank a lot). At the bank desk they exchanged US dollars for Euros at a good rate for no fee also. I have read on other lines websites that they charge a fee for cash advances in the casino. But if you won the money in a slot machine it should definately work on any cruise line. Check the rules of your line before attempting this manever.

[AZjohn]

Any advise on exchanging Euro, either in US or wait till arrive in europe by using ATM.

Thank you

As you can see many here on CC will advise to use foreign ATM’s to get the “best” conversion. I personally get a better conversion getting Euros at my US bank. I get the service free and rate is good. My ATM card will get hit with fees and just the same conversion charges.

 

If you have a fear of carrying cash while flying over to Europe than maybe wait until you get there. I have more of a fear using an unfamiliar ATM at an unfamiliar location in public in a foreign country.

The ship would give you euros in a cash advance off your credit card, but charged a 3% fee, and the credit card company would charge you a cash advance fee, plus foreign currency conversion fee.

 

 

This has never been true with all the US cruise lines we have used. The credit card is charged at the end of the cruise in US dollars and never shows up as any type of cash advance.

 

Seems like a lot of people are freaked out about the 3% fee some cruise lines charge for cash advance (again, does not show up on credit card as cash advance). I personally have/will spend thousands upon thousands of dollars on a Europe flight/cruise/vacation so paying $30 in ship charges is really nothing to me. But this is me and others likely feel different.;)

 

Have a great cruise!

John

[Wants2cruise]

I called our bank to order some euros prior to my son flying to Germany. The bank informed me that they could order the money, but they would need around a week or and there would two charges. One charge for the actual exchange and an additional charge for the money to be Fedexed to the bank. The banker then informed me that the airport exchange machines are cheaper in the long run. They have a high charge for the exchange rate, but without the Fedex charge it comes out cheaper.

[Cruisenouvelle]

I called our bank to order some euros prior to my son flying to Germany. The bank informed me that they could order the money, but they would need around a week or and there would two charges. One charge for the actual exchange and an additional charge for the money to be Fedexed to the bank. The banker then informed me that the airport exchange machines are cheaper in the long run. They have a high charge for the exchange rate, but without the Fedex charge it comes out cheaper.

That's pretty much same scenario w/ our bank. it's good to have some euros when you arrive, but the airport will have machines so you'll have a few for immediate needs- taxi fare, tips and such.