Buying euros for oct cruise

[ECURB1994]

We are on the 10/18/10 Nautica Cruise from Rome to Venice. We have hired several private excursions but doing the 12 day cruise mainly "on our own". I am uncertain whether or not I should purchase Euros now and/or wait or just use U.S. Dollars with cedit cards instead. What is anyone's recent experience. What are others doing for upcoming cruise in Europe that involve the Euro ? Thanks.:confused:

[LHT28]

We just returned from a European cruise ...I took Euro with us to cover the private tour guides and some coffee money.

 

You could use the ATM's in port if that is more suitable

The ship also sells Euro I did not check their rates

 

You can put any leftover Euro to pay your on board account

 

Lyn

[kreastman]

We did Rome to Venice on Regatta a couple of years ago and always used local ATM's to obtain our Euros, since we didn't want to travel with large amounts of currency. You will find them conveniently located in nearly all of the ports you will be visiting, and the rates are often better than on the ship. If you are using private guides, they will usually prefer to be paid in cash; many do not accept credit cards. Be sure to check your daily withdrawal limit with your bank before you leave; we needed to increase ours.

[Marebear]

Most places in Europe will not take US dollars. I always bring some euros with me and use ATMs all over Europe. Make sure you notify your bank and your credit card companies when you are leaving, where you are going and when you will return.

[chipmaster]

If the amount you need is small ATM after arrival at the airport or in port is always cheapest. I've always seen 2-3 ATMs at arrival / luggage and between them always been able to get a couple hundred USD equavalent of local money. But if you are funding private tours the cost can be very high. Your port day will be busy, I did see ATMs and got money in port more because I wanted to top of my money then because I needed it, but I wouldn't want to have to be looking for ATMs on a busy day in Rome for example, just to pay the guide.

 

Also remember most ATMs and US banks have daily limits so if you need a lot you'll need to have several cards/accounts and make multiple stops. Also remember avoid the small store ATMs and only use offical bank ATMs when traveling

 

No one knows if the euro will stay weak or get stronger. If you are exchanging thousand and thousands maybe get a 1/3 now and 1/3 later and 1/3 before the trip, but if only a thousand euros may not be worth 3x the exchange transaction fee.

 

Enjoy your cruise!

 

We are on the 10/18/10 Nautica Cruise from Rome to Venice. We have hired several private excursions but doing the 12 day cruise mainly "on our own". I am uncertain whether or not I should purchase Euros now and/or wait or just use U.S. Dollars with cedit cards instead. What is anyone's recent experience. What are others doing for upcoming cruise in Europe that involve the Euro ? Thanks.:confused:

[comcox]

We usually have a few euros left over from previous trips to get us through the first day and then we head for the nearest bank ATM which will give you the best exchange rates. We try to use ATMs located at banks during their open hours as AMT's usually disperse large bills which are not always accepted in small stores or by drivers. After getting money out, we go into the bank and ask for smaller bills. Occasionally you'll get turned down but most of the time they are happy to oblige. This is especially true in Turkey where no bank will offer smaller bills. If you are stuck with larger bills ask at the front desk if they will exchange for smaller bills.

 

Another trick is to ask the machine for an odd amount such as 280 euros so at least you'll get a few smaller bills. Avoid taking out small amounts as your bank or the ATM's bank may charge a fee each time.

 

Do notify your bank before you leave as to when you will be gone and to what countries. Also ask them what your daily limit is. I always thought it was a flat $200 but discovered our limit was much higher because we had been with the bank so long.

[agnesd]

Last cruise we purchased travelers checks (no fee at our bank) and cashed them on board for Euros (no fee).

[caribbeansun]

I purchased a couple thousand euro when the rates were favourable and will supplement via ATM as needed and use CC wherever possible. Most of the private tours are cash only (euros not US$) but for car rentals your CC should be fine. Your US$ will only be good while on board the ship. See you in Livorno ;)

 

We are on the 10/18/10 Nautica Cruise from Rome to Venice. We have hired several private excursions but doing the 12 day cruise mainly "on our own". I am uncertain whether or not I should purchase Euros now and/or wait or just use U.S. Dollars with cedit cards instead. What is anyone's recent experience. What are others doing for upcoming cruise in Europe that involve the Euro ? Thanks.:confused:

[ClaudiaF]

if you buy them on the ship they charge you a fee ..and if I recall kind of high

If you have American Express you can go to their website and order them on line and have them sent to you before you go ( always good to have some in advance)..

[LAexNY]

The ship charges a 5% fee. Ouch!

 

We also use ATMs in Europe. You get the best rate. Travelers' checks are iffy other than on the ship. Many places no longer take them.

Make sure your ATM card has a 4-digit PIN. And I agree, it's always a good idea to notify your bank that you will be abroad.

[digby]

For years I would always carry TRAVELERS CHECKS when going abroad, but no more. Now I rely on ATMs which seem to be everywhere. You get the BEST rate available. For any major purchases I would only use a CC for the protection they give.

[frqttrvlr09]

Depending on how far ahead some of the ports are, I usually order and purchase foreign currency through AAA at the local AAA agency (they need about 3 days lead time) before I leave, for reasons discussed in prior threads. If you are on a tour, it is not convenient or actually fair to the other guests if you are hunting around for an ATM, and in many ports, they are not nearby. In some places, they just don't work. I recall spending quite a bit of time with my private driver/tour guide or a taxi driver in a cities as big as Florence, Buenos Aires, and Rio, trying to find an ATM that worked. Many also did not work in Turkey, and surprisingly, in touristy places on the Italian coast. Some would not accept my ATM: wrong kind, whatever, and I was not the only one in my group of fellow travellers that had these problems. Beware also of counterfeit currency, especially in BA. That happened to me. The cab driver immediately recognized the money I had gotten from an ATM to pay him as counterfeit when I went to pay him near my ship, showed me why it was counterfeit, and while it was not a great deal of money ($50), it was all I had. It was not feasible to go back to the ATM, which was in a glass enclosed lobby but not part of a bank, so recovery of the money was a lost cause. I am also wary of ATMs now because of all of the stolen numbers that occurs, here and abroad. I do carry them and use them, but I now mostly take the currency I think I will need (euros, dollars, pounds) in advance and then get the rest advanced off my credit card from the ship or at a money exchange. I never use travelers checks any more. I do use credit cards where they are accepted, but am more cautious of that as well, preferring those that have hand held "at the table" ones. And yes, in Rio, for example, none of my cab drivers would accept USD; the ones the ship gave me (I was on Regent and Regent does not give passengers foreign currency; I did not know that Oceania did) were brand new, as is most ship currency, and they thought it was fake. Then you also get into issues with vendors, cab drivers, etc. when using USD over the exchange rate. So it is not worth it, most of the time, to use USD, in my opinion.

[rahrah50]

I purchase some Euros from my Bank of America-order online and then picked up at my local branch. In Italy, (Rome, Florence, Milan, and Venice) I used the ATM's with no problems. I did notify my bank and had a 4 digit pin. Again with no problems. I have also done this in Paris without problem. My Visa credit card is used for any large purchases. (Be sure to call them also). No travelers checks anymore.....Maybe I have just been lucky to not have any problems with this system but it has worked well many times.

[ClaudiaF]

re: travelers checks..they are sort of from the dark ages now..many places will not accept them / haven't for years..and if they do want proper i.d. which means.. passport to use them, and if the ship takes your passport ( as they usually do for the duration of the ship) you may have trouble using them in stores..so would suggest do not waste your time or money on them

[TKS]

Travellers checks are not accepted many places any more, due to the possibility of theft and forgery, so they are a thing of the past for me. I also don't like to use my credit cards unless I have to, and then only when I can see the vendor the entire duration of the transaction. Plus I don't like the nasty little "fees" which sometimes crop up unexpectedly on credit cards.

 

I've never encountered problems with my ATM card being accepted by a machine in Europe or Turkey, and have never really had any trouble finding operating machines. I haven't yet been lucky enough to travel to South America or eastern Asia yet, so can't comment regarding those areas. I do make sure the ATM card is a "debit/credit" card, not just a "debit" card.

 

I AM careful where I use my ATM card, as there are some places where it's not safe because of thieves "staking out" ATM customers. I always make sure the machine is readily visible to others (not in a dark corner or an enclosed cubicle where someone might hide, or where you might be cornered and unable to call for help), I prefer to have more than one person with me at the machine so one of us can watch the area while the other gets money, I use only machines at banks (not likely to get counterfeit money there, and less likely to encounter the scammers devices which are becoming more common to steal your PIN), and I always make sure I cover the pad with the other hand when I key in my PIN.

 

As a final precaution I always set up a separate ATM account with my bank before I leave, one not tied to any of my regular accounts. My bank doesn't charge a fee for this, I can contact them easily and ask for more money to be deposited if I underestimate what I will spend during the trip, and if the card or information is stolen the most the thief can get is what's left in that account. That way I don't have to worry about my regular accounts at home, which carry a higher balance of available money.

[Paulchili]

TKS,

You are very wise and a seasoned traveler. I follow all your "rules" except the separate account, which sounds like a good idea and I will look into it.

[hondorner]

That is one of the best "prevention" posts I have ever read. While I use some of your practices, I appreciate being reminded of all of them.

 

In my case, instead of a separate ATM account at my primary bank, I use a Schwab High Yield checking account which issues me a Visa debit/credit card, and I fund that account with travel cash. I also have a Schwab Savings account with a higher balance, with on-line transfers between accounts if I need mo.re money. I have also set up on-line transfers between the Schwab account and my primary accounts as an ultimate backup for funds, in the event of a medical emergency, for example.

 

The advantage of a debit card. as you said, is that there are no foreign transaction fees and no cash advance fees, because it is your own money, not an advance on a credit card, which also carries interest from the first day. It also works as a credit card for those merchants who are not set up to take debit cards, except again, it's your own money, so there are no pesky fees. The 4-digit pin is automatically part of a debit/credit card; just make sure it doesn't start with a zero. Finally, as they have been recently advertising on TV, Schwab Bank debit cards incur no ATM fees, anywhere in the world. If a third party ATM charges a fee, Schwab Bank issues a credit for the amount of the fee. What it boils down to is that we can get cash, buy what we like and never face any fee except a currency exchange rate,

 

One used to have to open a Schwab brokerage account in order to get the bank accounts, even if it never got used, but the recent TV ads make it sound like that is no longer necessary.

[DOJO466]

That is one of the best "prevention" posts I have ever read. While I use some of your practices, I appreciate being reminded of all of them.

 

In my case, instead of a separate ATM account at my primary bank, I use a Schwab High Yield checking account which issues me a Visa debit/credit card, and I fund that account with travel cash. I also have a Schwab Savings account with a higher balance, with on-line transfers between accounts if I need mo.re money. I have also set up on-line transfers between the Schwab account and my primary accounts as an ultimate backup for funds, in the event of a medical emergency, for example.

 

The advantage of a debit card. as you said, is that there are no foreign transaction fees and no cash advance fees, because it is your own money, not an advance on a credit card, which also carries interest from the first day. It also works as a credit card for those merchants who are not set up to take debit cards, except again, it's your own money, so there are no pesky fees. The 4-digit pin is automatically part of a debit/credit card; just make sure it doesn't start with a zero. Finally, as they have been recently advertising on TV, Schwab Bank debit cards incur no ATM fees, anywhere in the world. If a third party ATM charges a fee, Schwab Bank issues a credit for the amount of the fee. What it boils down to is that we can get cash, buy what we like and never face any fee except a currency exchange rate,

 

One used to have to open a Schwab brokerage account in order to get the bank accounts, even if it never got used, but the recent TV ads make it sound like that is no longer necessary.

 

Don

You do not need to open a Brokerage account for the high yield checking. At your advice I opened an account and have never been charged a fee. When I first opened the account I received numerous calls from their brokers, after too many calls I politely told them I was not interested in a brokerage account and to take me off their call lists. Never heard from them again and they were very nice about it. Deb

[Rocket4Oh]

As a final precaution I always set up a separate ATM account with my bank before I leave, one not tied to any of my regular accounts. My bank doesn't charge a fee for this, I can contact them easily and ask for more money to be deposited if I underestimate what I will spend during the trip, and if the card or information is stolen the most the thief can get is what's left in that account. That way I don't have to worry about my regular accounts at home, which carry a higher balance of available money.

 

TKS, This is great info. I've just called my bank, Wachovia, to set up the ATM account. THANK YOU.

[caribbeansun]

Interesting and excellent idea! Thank you for sharing.

 

As a side note, my bank was trumpeting their new Euro savings account BUT I can't access it at any ATM, nor a "standard" branch and I can't write cheques on it either - gee, thanks, but at least I could convert from Cdn$ at times when the rates were good and I could put away those private tour fees so it's like found money.

 

As a final precaution I always set up a separate ATM account with my bank before I leave, one not tied to any of my regular accounts. My bank doesn't charge a fee for this, I can contact them easily and ask for more money to be deposited if I underestimate what I will spend during the trip, and if the card or information is stolen the most the thief can get is what's left in that account. That way I don't have to worry about my regular accounts at home, which carry a higher balance of available money.

[TKS]

That is one of the best "prevention" posts I have ever read. While I use some of your practices, I appreciate being reminded of all of them.

 

In my case, instead of a separate ATM account at my primary bank, I use a Schwab High Yield checking account which issues me a Visa debit/credit card, and I fund that account with travel cash. I also have a Schwab Savings account with a higher balance, with on-line transfers between accounts if I need mo.re money. I have also set up on-line transfers between the Schwab account and my primary accounts as an ultimate backup for funds, in the event of a medical emergency, for example.

 

The advantage of a debit card. as you said, is that there are no foreign transaction fees and no cash advance fees, because it is your own money, not an advance on a credit card, which also carries interest from the first day. It also works as a credit card for those merchants who are not set up to take debit cards, except again, it's your own money, so there are no pesky fees. The 4-digit pin is automatically part of a debit/credit card; just make sure it doesn't start with a zero. Finally, as they have been recently advertising on TV, Schwab Bank debit cards incur no ATM fees, anywhere in the world. If a third party ATM charges a fee, Schwab Bank issues a credit for the amount of the fee. What it boils down to is that we can get cash, buy what we like and never face any fee except a currency exchange rate,

 

One used to have to open a Schwab brokerage account in order to get the bank accounts, even if it never got used, but the recent TV ads make it sound like that is no longer necessary.

Don, I like your idea very much. I'm going to check into your suggestion. Thanks. Kay

[hondorner]

I originally heard about the Schwab accounts here on Cruise Critic, and I'm just passing it forward. I opened my checking account back when they were still paying 4% on a checking account -- which is why it's called a High Yield account. I think they're down in the range of .5% now, but that's still a whole lot better than my other checking accounts now pay...

[KatieBelle]

Last cruise we purchased travelers checks (no fee at our bank) and cashed them on board for Euros (no fee).

Is this for real? Has anyone else had this experience? I assume you all were sailing with O.

[rallydave]

Last cruise we purchased travelers checks (no fee at our bank) and cashed them on board for Euros (no fee).

 

 

Maybe no fee for using the travelers checks which is the norm but, what exchange rate did you receive. Bet it was at least 10% below what you would have gotten in an ATM.

 

There is no free lunch and believe the exchange rate on the ship, in a moneychanger, at the airport is very high compared to at an ATM. Have traveled to many countries and have always gotten an exchange rate at an ATM within 1% of the published rate for a million dollar exchange on that date.

[JimandStan]

Maybe no fee for using the travelers checks which is the norm but, what exchange rate did you receive. Bet it was at least 10% below what you would have gotten in an ATM.

 

There is no free lunch and believe the exchange rate on the ship, in a moneychanger, at the airport is very high compared to at an ATM. Have traveled to many countries and have always gotten an exchange rate at an ATM within 1% of the published rate for a million dollar exchange on that date.

 

That is exactly it. There is no fee for cashing the checks, or for taking the money in Euro's, but the exchange rate is not as favorable on the ship.