Cash, Travelers Checks, or What???

[bigeagle12]

Pre-order using your CC is a great way if you don't have an ATM easily accessible on arrival or in port. The only downside and why its "free" esentaily you are giving the cruiseline a free loan so they are more than happy to give you the "credit" as they charge your credit card and they are giving the ship a free loan to you and the cruiseline so to speak. A nice loophole, have your cake and eat it too! :D

 

I order them 30 days prior .. and I am losing 1/2 of 1% interest in my checking account .. so on my $300 casino credits they are making 13 cents off my money. :D:D:D

[houch]

I used to use travelers checks but they became harder to get so switched to cash and actually prefer that. I carry the cash the same way I carried the checks and put it in the room safe while cruising. We have been doing overseas cruises lately and use our cash for the money exchange in the machine on board for the different countries. This has worked well for us. Also I like to have some cash for the casino, I have not used that new system the casinos have now, the royal was not doing that last Nov. I guess that is something new I will have to learn. I can keep track of what I spend better with cash. I use a credit for possible larger purchases on shore. I have yet to use my cash card in other countries though I do bring it along and notify my bank where I am going before I leave.

[Jamietravelstheworld]

We have been doing overseas cruises lately and use our cash for the money exchange in the machine on board for the different countries.

 

Can you explain what you mean by money exchange in the machine on board? This is first time doing a European cruise.

[houch]

Can you explain what you mean by money exchange in the machine on board? This is first time doing a European cruise.

 

On all the overseas cruises we have been on since 2007 they have a machine that exchanges dollars for euros or whatever currency the country you are going to uses. It is usually done at the most recent exchange rate. It has worked out well for us to have a small amount of the country's currency for a beverage or a snack or trinkets, etc. I have a credit card in case I might want to make a more expensive purchase.

As I recall on our Baltic cruise we had different currency for each country and having that machine made it easy for us to have some local currency each day.

[Jamietravelstheworld]

So it's basically an ATM for exchanges, and you don't have to go to pursers desk? What kind of exchange rate and fees are there, compared to home or other places? Is there a limit per day?

[cruisemom42]

So it's basically an ATM for exchanges, and you don't have to go to pursers desk? What kind of exchange rate and fees are there, compared to home or other places? Is there a limit per day?

 

Those currency exchange machines on board give you a lousy rate of exchange plus, if I recall, there is a fee charged as well. I don't think there was a limit. You put in your money and the machine gives you local currency in return.

 

I used it once back in 2005. Never again.

 

I use an ATM for local cash and a Capital One card for credit purchases. BTW, I recommend using a credit card for large purchases whenever possible. If you ever have a problem and you need to dispute a charge, it's a lot easier if you paid by credit card.

[houch]

So it's basically an ATM for exchanges, and you don't have to go to pursers desk? What kind of exchange rate and fees are there, compared to home or other places? Is there a limit per day?

 

We have always had a good exchange rate when we have used them. It was a better rate than I got at home before I left which I did as we stayed one night before the cruise and I wanted to have a bit of the local money. The fee wasn't much but we did one transaction for the 4 of us. We also liked the convenience of using it and you didn't have to go to the pursers desk. Keep in mind we only would get a small amount as we used credit cards for any major purchases. We will continue to use it on future cruises. Our experience with it was positive contrary to another poster's experience.

[caribill]

So it's basically an ATM for exchanges, and you don't have to go to pursers desk? What kind of exchange rate and fees are there, compared to home or other places? Is there a limit per day?

 

It is not an ATM as ATMs take credit/debit cards and give you cash.

 

This is, as described, a money exchange machine as you put currency in and get currency out.

 

As some others have mentioned, the exchange rate is very poor, giving you about 6% less than if you used on onshore ATM. When selling currency back, you again get a poor rate. Between the poor rate buying a currency and a poor rate selling it back plus a service charge each time, you can easily lose 20% or more of the original value of your money.

 

Actual example last spring:

Cost of Euros from an onshore ATM including any bank fees: $1.334

Cost of Euros from onboard currency exchange machine: $1.414, 6% higher. Then there was a service charge of $3.50. So the average cost of a Euro if inserting $100 was $1.465 (service chrage included), 9.8% higher than the ATM.

 

Many people feel the extra cost is worth it as you do not have to seek out an onshore ATM. Just be aware that sometimes the onboard machine will be out of order, so have a Plan B just in case that happens.

 

One poster indicated the onboard machine had a better rate than what was obtained at home. In that case, then the person was given a really bad rate at home.

[Coral]

Leave your money there and only take what you might need for the day. Casino expenses can be put on your cruise card and you won't be left w/ outdated currency like travelers checks that sit in a drawer until the next trip if you remember them. The companies that issue them make millions on those uncashed. Credit cards are still the best as you also get protection by using them. Get one w/o foreign transaction fees and they even give money back or airmiles.

 

Maybe just me - but I hate carrying around a lot of cash. I bring enough cash to get to the ship and maybe a few days more. If I need more, I cash them on the ship. Towards the end of the trip, I cash enough to get home (can always use a credit card if I run short) and then use any existing ones to pay off some towards my bill. So I never lose them. I prefer them to cash because "if I do lose them" - they are refundable. I just can't get the concept of carrying thousands in cash around - it just scares me.

 

Of course this method doesn't work in Europe but for Caribbean, Alaska, Coastal, Mexico, Canada/NE - it works fine for me.

[Minoushka]

If you must carry cash carry a moneybelt ..the kind UNDER garments .Once you reach your hotel put stuff in safe .Carry what you might need A CC is ALWAYS useful for big purchases and final payment on board.

In certain areas of the world you cannot even carry a purse without attracting negative attention ....my shoes become my wallet !!!..

Traveller's Checks were not THAT easy to cash you needed a passport each time

On ship I use my safe for valuables

In towns carry what you think you MIGHT need EXtra vigilant with CC

 

Good Luck

 

I f yoyu "borrow "for the casino on your ship card it is added on to final payment...Do be careful it adds up VERY quickly

 

Michele

[crewmom24]

Coral or others,

Why does cashing TC on board not work in Europe? Can you only get dollars when you cash them, not Euros? Do they exchange dollars for Euros at the Purser's desk? Is it possible to get Euro traveler's checks in the US and then would they give you Euros when you cash them at the Pursers? How long does it take to get a Capital One card? Sorry for all the questions, but I'm trying to figure out what we are going to do on a 12 day Med cruise where we are paying for 8 people. That is a lot of money to have to bring. Some of our private tours want USD, most want Euros and I think one wants dollars but will take credit card. We don't do the casino so don't have to worry about that.

Debbie

[caribill]

Coral or others,

Why does cashing TC on board not work in Europe? Can you only get dollars when you cash them, not Euros? That is usually the case. Then you can use the $$ to get Euros at the on board cash exchange machine with its poor exchange rate + service fee.

 

Do they exchange dollars for Euros at the Purser's desk? Not usually, They will point you to the money exchange machine.

 

Is it possible to get Euro traveler's checks in the US and then would they give you Euros when you cash them at the Pursers? I do not know.

 

How long does it take to get a Capital One card? Usually can get approval within 24 hours. If you ask them to rush the card, you may get it in about 3 days. Otherwise may take up to two weeks to arrive.

 

Some of our private tours want USD, most want Euros (will they take Euro traveler's checks? If you need to pay in cash, you may need to hit ATMs on multiple days as the amount you can withdraw each day will be limited either by your bank or by the ATM machine) and I think one wants dollars but will take credit card.

 

See above in red.

[sultan_sfo]

Caribill has replied to most of the other questions.

 

The ship's currency is only US$$. This is now clearly stated. So if one tries to cash Euro denom TC, the Purser's desk will convert it to US$ at whatever rate they use. The Purser's desk does not deal in Euros.

 

ATM's Overseas My experience:

I can never find what exchange rate the ATM will use. When I see my bank statement, I can then calculate the rate that was used. Also my bank charges $5 per foreign ATM transaction. Recently my account has been upgraded and I get 2 foreign transaction free. And remember there is a daily ATM limit about $500 (was roughly 300 euros in '09).

 

Coral or others,

...

Is it possible to get Euro traveler's checks in the US and then would they give you Euros when you cash them at the Pursers?

...

Debbie

[Coral]

Coral or others,

Why does cashing TC on board not work in Europe? Can you only get dollars when you cash them, not Euros? Do they exchange dollars for Euros at the Purser's desk? Is it possible to get Euro traveler's checks in the US and then would they give you Euros when you cash them at the Pursers? How long does it take to get a Capital One card? Sorry for all the questions, but I'm trying to figure out what we are going to do on a 12 day Med cruise where we are paying for 8 people. That is a lot of money to have to bring. Some of our private tours want USD, most want Euros and I think one wants dollars but will take credit card. We don't do the casino so don't have to worry about that.

Debbie

 

I have only cruised once in Europe (I prefer land trips there) so I am not the best to answer. My point I was trying to say is that on Caribbean, Canada/NE, Mexico, etc.... - most places on these cruises take American money. Considering many European places prefer Euros or other currencies - I was thinking it would not be as convenient. Also, if you had Euro Travelers checks, I have no clue if you could cash them on the ship.

 

Good luck in whatever you decide to do. I would use credit cards as much as possible.

[crewmom24]

Thank you so much everyone for answering my questions. I think I will get Euros from my bank before I go and get a Capital One card.

Debbie

p.s. Caribell, I used to live in Galveston, isn't that right down the road from you?

[caribill]

p.s. Caribell, I used to live in Galveston, isn't that right down the road from you?

 

30 miles from our house to the 1894 Grand

[janina]

I guess it depends a lot on where your cruise is going. I use atms a lot at ports or my credit card.:)

[caribill]

From a poster currently on the Ruby Princess:

 

On board ATM is broken most of the time and the exchange rate is somewhere about $1.50 + a service charge. You really don't want to use that at all. Exchanging back is worse, something we did once and never again.

(Note: current Euro value is about $1.25)