$ to Euro exchange rate on ship

We are on an October '18 Celebrity Eclipse cruise out of Barcelona. We plan to do most of our own shore excursions so it is a bit difficult to predict how many Euro's we will need. If we need more Euro's is it better to exchange on land or on the ship?

This is our first European cruise so I am unclear on the economics of ship currency exchange rates. I haven't researched even if the ship provides this service. Thanks to all who comment.

I can tell you that The exchange rate on board is higher than my local bank.

The ship (claims to) convert money at the same rate that Bank America uses for it's customers. Effectively that's around a 5% commission built in.

The best way to exchange money is to use something like the Schwab Bank debit card that converts money at the official (WSJ?) published rate (almost no commission) and refunds any ATM charges....so you just go to an ATM in Barcelona and get whatever Euros you need. You also want a credit card that doesn't charge a foreign transaction fee to use at restaurants/stores, etc. The Schwab card does both but you don't get perks...so I use an airlines card with no foreign transaction fee to get the points

If you plan on doing more travel, it's worth keeping maybe $50 worth of Euros at home, saved from this trip...so you have "working money" when arriving in Europe again. We keep a few UK pounds and euros for that reason...

The exchange rate onboard is higher than a shoreside ATM. I always pre-order Euros before a trip.

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We have travelled to Europe many times. Your best exchange rate will be at a bank (not private) atm in the country you plan on using the money. We usually buy a small amount of foreign currency in the US before leaving just for incidentals or taxis from the airport to our hotel or ship.

We have travelled to Europe many times. Your best exchange rate will be at a bank (not private) atm in the country you plan on using the money. We usually buy a small amount of foreign currency in the US before leaving just for incidentals or taxis from the airport to our hotel or ship.

Get it from a bank ATM once you arrive in Europe. Get an ATM card charged to your checking account from a bank that doesn't charge ATM or conversion fees. There are some banks out there -- TD Bank being one of them who don't charge you, and you get the interbank rate for the day of transaction.

We keep a few UK pounds and euros for that reason...

I hope you haven’t kept the old paper £10 note, as it has now been replaced and it officially not legal tender ( as from 1st March 2018)

I hope you haven’t kept the old paper £10 note, as it has now been replaced and it officially not legal tender ( as from 1st March 2018)

Oops...I thought you were saying Euros and not pounds!!! You had me pretty upset for a minute or so....that teaches me not to keep extra Euros...

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Thanks for sharing this; I just lost €50....not pleased at all to learn this, as we just got them last year and thought we would use them at the end of this month! Pooh-bah!

 

 

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The screen shot refers to UK pounds £, not euros €.

The screen shot refers to UK pounds £, not euros €.

I realize that, but I misread it as Euros and thought this was deleted....I do know the difference, but assumed it was about Euros, thus the panic mode...The OP was talking about Euros and I had that in my brain...sorry!

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We have travelled to Europe many times. Your best exchange rate will be at a bank (not private) atm in the country you plan on using the money. We usually buy a small amount of foreign currency in the US before leaving just for incidentals or taxis from the airport to our hotel or ship.

We always use a bank ATM wherever we go. Preferably one in the banks lobby. We look to see that it’s a member of our network. You always get the bank exchange rate that way.

Use a secure ATM like one at a bank in the countries you are visiting with a debit card. The best exchange rate is given, and if your home bank does not charge ATM fees all the better! Some are worried about the security of using their debit card in a foreign country for some reason. It is in general no more risky than in your own country. If you worry about this, purchase pre-paid debit or credit cards before you travel with limited denominations- these are like the new version of Traveler's Checks. Or get a Travel Visa or Mastercard from Charles Schwab as previously mentioned or there are others as well. We do take a small amount of foreign currency that we purchase from our local bank just to get us started if we need incidentals.

Doesn't exactly help, but we're on the Equinox right now. I just asked guest services about their exchange rate for euros. Since we're not in Europe they are only buying euros, not selling them. Their rate to buy euros today is 1.1. So if you were exchanging euros for US dollars, they would give you $110 US for 100 euro. We'll be sailing on the Epic the end of September out of Barcelona and will be getting euros from a bank ATM. We have Capital One so no fee from them, only what the bank with the ATM charges.

If you’re a AAA member they do not charge you a service fee. I’d look into what they have to offer if you have an office near by.

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If you’re a AAA member they do not charge you a service fee. I’d look into what they have to offer if you have an office near by.

AAA is probably the worst place to get Euro. They don't charge you a service fee, but their exchange rate is ridiculous. For example and simplicity, let's say the Interbank rate for the Euro is 1 Euro for $1. The cruise ship will charge you $1.09 for that same Euro, and AAA will charge you around $1.30 or more for that same Euro. It's not a good deal. It's only a good deal if you want to spend that exchange rate to make you feel "warm & fuzzy" before you leave on your trip.

And by the way, the cruise ship overcharges for euros.

Use your ATM card and get them from a real bank ATM when you arrive in Europe. Avoid kiosks and airport ATMs, and be careful about non-bank ATMs.

... Their rate to buy euros today is 1.1. So if you were exchanging euros for US dollars, they would give you $110 US for 100 euro. We'll be sailing on the Epic the end of September out of Barcelona and will be getting euros from a bank ATM. We have Capital One so no fee from them, only what the bank with the ATM charges.

Thanks for the real time quote from Celebrity. The current Interbank exchange rate would yield ~ US$123 for €100 and Celebrity apparently would only give US$110. You are wise to use an ATM in Barcelona. ;)

Might it not be prudent to use a credit card which charges in the local currency, then just pick up the bill when getting home? A few Euros in your pocket would also be useful for small purchases, ice cream and such, coffee maybe and possibly a taxi. the rate on board will always be in the cruise line's favour as you will be captive. Buy a few from home before leaving, but pay with card when there. Some credit cards in the UK offer a no charge fee for international use. (I use one when visiting the USA from the UK from Santander called Zero)

Yes a credit card with no foreign transaction fees is what most people use when they travel for purchases. But this thread is about options for obtaining cash. If you use a credit card in an ATM to obtain cash in most cases you will pay a transaction fee to your credit card company. That is not the case with a debit card if your home bank covers the ATM fee.

If you use a credit card in an ATM to obtain cash in most cases you will pay a transaction fee to your credit card company.

And withdrawing cash with a credit card is considered a cash advance, subject to interest that accrues immediately (unless there is sufficient credit on the account).

And withdrawing cash with a credit card is considered a cash advance, subject to interest that accrues immediately (unless there is sufficient credit on the account).

Additionally, some banks charge a fee for making a cash advance. I have PINs tied to my credit cards for use only in emergencies.

Yes a credit card with no foreign transaction fees is what most people use when they travel for purchases. But this thread is about options for obtaining cash. If you use a credit card in an ATM to obtain cash in most cases you will pay a transaction fee to your credit card company. That is not the case with a debit card if your home bank covers the ATM fee.

You are indeed correct and I consider myself well and truly told!

Sail on.