Credit Card, Traveller's Check, or Ca$h ???

[almostavirgin]

I'd be cruising in mid-August. For your pre and post-cruise, as well as the on-shore excursion expenses, what is the most convenient and safest way to pay for them?

 

I also need some euros for minor encumbrances like taxis, coffee, tipping. Where is the best place to exchange some dollars for euros?

 

All inputs appreciated! :D

 

-Ray :)

[BobEspungy]

Based on my experiences the currency exchange fees have gotten worse in the last few years. I get the most favorable exchange rate by using my bank ATM card to make Euro withdrawls at local ATMs in Europe. My bank(a Credit Union) charges a flat fee that is a small % of the transaction. In contrast, credit cards act similarly; but then you start to accumulate interest rate charges from the time of the transaction. Before using your ATM or credit cards outside the USA, take the following actions:

1)find out which countries your ATM card will/will not work. Also find out which network your ATM card works on. .... I was surprised a couple years ago when my ATM did not work in Spain.

2)Let your credit card company know you are travelling outside the USA; otherwise your purchases may be declined.

 

My rule of thumb is to get a few hundred Euro at an ATM or Currency Exchange outlet in the USA before flying out. The Atlanta airport international terminal has an ATM that dispenses Euro. I've also had mixed experiences with ATMs in general in foreign countries. In some countries the ATMs stop working at 10 or 11PM. Language can also be a problem. The ATM will typically prompt you using the local native language. I've always found a button someplace that converts the session to English; but it's just something to be aware of. Lastly, look for a sign on the ATM machine that indicates the machine is part of your bank network. Just because there are 4 ATMs attached to the bank you are using, not all 4 ATMs will necessarily be on the network. I have encountered this in many countries.

 

I just find it comforting to have a few hundred Euro in hand before leaving the USA. It circumvents the ATM issues I just described and removes a layer of stress from your vacation. Hope this helps.

[almostavirgin]

Based on my experiences the currency exchange fees have gotten worse in the last few years. I get the most favorable exchange rate by using my bank ATM card to make Euro withdrawls at local ATMs in Europe. My bank(a Credit Union) charges a flat fee that is a small % of the transaction. In contrast, credit cards act similarly; but then you start to accumulate interest rate charges from the time of the transaction. Before using your ATM or credit cards outside the USA, take the following actions:

1)find out which countries your ATM card will/will not work. Also find out which network your ATM card works on. .... I was surprised a couple years ago when my ATM did not work in Spain.

2)Let your credit card company know you are travelling outside the USA; otherwise your purchases may be declined.

 

My rule of thumb is to get a few hundred Euro at an ATM or Currency Exchange outlet in the USA before flying out. The Atlanta airport international terminal has an ATM that dispenses Euro. I've also had mixed experiences with ATMs in general in foreign countries. In some countries the ATMs stop working at 10 or 11PM. Language can also be a problem. The ATM will typically prompt you using the local native language. I've always found a button someplace that converts the session to English; but it's just something to be aware of. Lastly, look for a sign on the ATM machine that indicates the machine is part of your bank network. Just because there are 4 ATMs attached to the bank you are using, not all 4 ATMs will necessarily be on the network. I have encountered this in many countries.

 

I just find it comforting to have a few hundred Euro in hand before leaving the USA. It circumvents the ATM issues I just described and removes a layer of stress from your vacation. Hope this helps.

 

Thanks for the exhaustive response, Chester! You have definitely covered the nagging questions I have in my mind. I'll definitely follow your advice! I've read the euro is somewhat weaker than the dollar now, so that would mean we'll be getting more value for our dollar. Good news!

 

Your input is very much appreciated. Thanks, man. :)

 

-Ray :cool:

[jjb415]

I also use ATM's to obtain local currency while in other countries and, like Chester, have found that method to be the most convenient and that which offers good exchange rates. I would caution travelers in using airport exchanges in the US, which many times offer really lousy rates. Specifically, I am thinking of those in Washington Dulles and San Francisco. Have a good idea of the official rates of exchange before making the transaction at the US airport.

 

 

In addition to the hint about finding the English option and network ATM's, I may add that I find it helpful to look for ATM's that say something like 'MultiBank' or 'International Network'

 

Have a great trip. :)

[almostavirgin]

I also use ATM's to obtain local currency while in other countries and, like Chester, have found that method to be the most convenient and that which offers good exchange rates. I would caution travelers in using airport exchanges in the US, which many times offer really lousy rates. Specifically, I am thinking of those in Washington Dulles and San Francisco. Have a good idea of the official rates of exchange before making the transaction at the US airport.

 

 

In addition to the hint about finding the English option and network ATM's, I may add that I find it helpful to look for ATM's that say something like 'MultiBank' or 'International Network'

 

Have a great trip. :)

 

Thanks Jack for all these additional info. about ATM's! BTW, in what denominations of the euro do the ATMs dispense?

 

-Ray :cool:

[dfwguy62]

All good advice. Here's a few more tips that I use...

 

Travelers checks have become a thing of the past for the most part. Many places abroad will no longer take them. Use a credit card for purchases and use your debit card for ATM withdrawals for your cash needs. I do most purchases with my credit card if the merchant will take it and minimize my need for cash. I usually get a few hundred Euros directly from my US bank (arrange it in advance so that I have taxi and emergency money when I arrive in Europe. Depending on your status with the bank, they may offer a decent conversion rate with little or no fee. It's probably a better rate than you'll pay at an airport exchange booth.

 

Notify all your banks about your travel destination(s) and dates. Even your ATM bank. I also send myself an email with all my account numbers and international customer service numbers in it in case the wallet gets stolen or lost. I use an internet email account like Yahoo or Gmail so that I can access the information from any computer at any time. That way I can quickly call to cancel cards that may be lost and order new ones. I "encrypt" the numbers in the email in a manner that only I know just in case anyone is monitoring my emails some how. By the way, I also send myself a scanned copy of my passport and any other important paperwork.

 

Personally, I have never had any ATM not work for me in Europe. But I've only been there 5 or 6 times, I guess and have been mostly in Scandinavia and Western Europe.

 

If you have a couple credit cards and an ATM card and at least a small supply of Euros, you'll probably be fine.

[almostavirgin]

All good advice. Here's a few more tips that I use...

 

Travelers checks have become a thing of the past for the most part. Many places abroad will no longer take them. Use a credit card for purchases and use your debit card for ATM withdrawals for your cash needs. I do most purchases with my credit card if the merchant will take it and minimize my need for cash. I usually get a few hundred Euros directly from my US bank (arrange it in advance so that I have taxi and emergency money when I arrive in Europe. Depending on your status with the bank, they may offer a decent conversion rate with little or no fee. It's probably a better rate than you'll pay at an airport exchange booth.

 

Notify all your banks about your travel destination(s) and dates. Even your ATM bank. I also send myself an email with all my account numbers and international customer service numbers in it in case the wallet gets stolen or lost. I use an internet email account like Yahoo or Gmail so that I can access the information from any computer at any time. That way I can quickly call to cancel cards that may be lost and order new ones. I "encrypt" the numbers in the email in a manner that only I know just in case anyone is monitoring my emails some how. By the way, I also send myself a scanned copy of my passport and any other important paperwork.

 

Personally, I have never had any ATM not work for me in Europe. But I've only been there 5 or 6 times, I guess and have been mostly in Scandinavia and Western Europe.

 

If you have a couple credit cards and an ATM card and at least a small supply of Euros, you'll probably be fine.

 

 

Most of the younger guys here probably don't even know what a traveler's check is, LOL :D I guess my mere mention of this gives away my age! :p

 

Thanks for all the monetary advice and info., dsfwguy62, as well as the added info. about additional security concerns!!!

 

-Ray :)

[jjb415]

Funny thing in Japan at currency exchanges you get 1 or 2 extra Yen per US Dollar if you use traveler's checks.

[PROCRUISE]

All good advice. Here's a few more tips that I use...

 

Travelers checks have become a thing of the past for the most part. Many places abroad will no longer take them. Use a credit card for purchases and use your debit card for ATM withdrawals for your cash needs. I do most purchases with my credit card if the merchant will take it and minimize my need for cash. I usually get a few hundred Euros directly from my US bank (arrange it in advance so that I have taxi and emergency money when I arrive in Europe. Depending on your status with the bank, they may offer a decent conversion rate with little or no fee. It's probably a better rate than you'll pay at an airport exchange booth.

 

Notify all your banks about your travel destination(s) and dates. Even your ATM bank. I also send myself an email with all my account numbers and international customer service numbers in it in case the wallet gets stolen or lost. I use an internet email account like Yahoo or Gmail so that I can access the information from any computer at any time. That way I can quickly call to cancel cards that may be lost and order new ones. I "encrypt" the numbers in the email in a manner that only I know just in case anyone is monitoring my emails some how. By the way, I also send myself a scanned copy of my passport and any other important paperwork.

 

Personally, I have never had any ATM not work for me in Europe. But I've only been there 5 or 6 times, I guess and have been mostly in Scandinavia and Western Europe.

 

If you have a couple credit cards and an ATM card and at least a small supply of Euros, you'll probably be fine.

 

All great advice. We don't even take an ATM card. Credit cards and some Euros has worked fine for us. VERY IMPORTANT to notify your credit card company where you'll be and when. We have the "no hassle" credit card that has NO fees for a foreign transactions which is great. Spent a sizable amount of money in St. Petersburg, Russia last year and had no problems at all. Enjoy your trip!

[jjb415]

All great advice. We don't even take an ATM card. Credit cards and some Euros has worked fine for us. VERY IMPORTANT to notify your credit card company where you'll be and when. We have the "no hassle" credit card that has NO fees for a foreign transactions which is great. Spent a sizable amount of money in St. Petersburg, Russia last year and had no problems at all. Enjoy your trip!

 

I think we're allowed to say Capital One as the "no hassle" credit card with no foreign transaction fees. Getting one of their cards is on my 'list'........ :)