Shipboard Account Currency Conversion Program

[chrisandbrian]

We are first time cruisers and are curious as to which option to take:

CREDIT CARD CURRENCY CONVERSION PROGRAM

 

 

Passenger Credit Card Eligible for Dynamic Currency Conversion Program

Princess now offers you the convenience and benefit of paying for your onboard charges in your home currency. Instead of your bank charging you and performing the conversion at an unknown rate, Princess will convert the USD onboard charges for you.

What are the benefits to you?

•You will know exactly what is being charged to your card in your home currency before you leave (it is printed on your final folio).

•No more surprises when you get the statement from your bank.

•Receive a competitive rate based on a wholesale market exchange rate (also printed on your final folio).

 

Read detailed terms of program »

I acknowledge that I have been provided the detail terms of the currency conversion program.

1. Yes, please handle the currency conversion

2. No, let my credit card company handle the currency conversion

3. I will decide at the pier

 

Thanks for all the info, what we've learned is invaluable and we're so glad we didn't have to learn anything, hopefully, the hard way. :)

[Abercrombie2007]

We have always let the ship charge our credit card in USD and let our credit card company do the conversion to CND. We did this on the advice of other Cruise Critic members.

 

The currency conversion program rates are not as competitive as my credit card company's and the conversion rate is not determined in the same way.

 

I don't think they give you the option of using the currency conversion program is you are using a CDN Am Ex card.

[Colo Cruiser]

We are first time cruisers and are curious as to which option to take:

CREDIT CARD CURRENCY CONVERSION PROGRAM

 

 

Passenger Credit Card Eligible for Dynamic Currency Conversion Program

Princess now offers you the convenience and benefit of paying for your onboard charges in your home currency. Instead of your bank charging you and performing the conversion at an unknown rate, Princess will convert the USD onboard charges for you.

What are the benefits to you?

•You will know exactly what is being charged to your card in your home currency before you leave (it is printed on your final folio).

•No more surprises when you get the statement from your bank.

•Receive a competitive rate based on a wholesale market exchange rate (also printed on your final folio).

 

Read detailed terms of program »

I acknowledge that I have been provided the detail terms of the currency conversion program.

1. Yes, please handle the currency conversion

2. No, let my credit card company handle the currency conversion

3. I will decide at the pier

 

Thanks for all the info, what we've learned is invaluable and we're so glad we didn't have to learn anything, hopefully, the hard way. :)

 

 

What currency?

[paul929207]

You do not want Princess to convert your account from US$ to your currency. Princess will charge you 3% and then give you a bad exchange rate.

[chrisandbrian]

Thanks all for the super fast responses :) We'd need them to exchange to Canadian Dollars. I was leaning towards letting the credit card company do it but wanted to ask the experts first!

 

Thanks again!! Just over a month and then we're off to the Carribean for 14 days :D

[D&N LUV 2 TRAVEL]

As Paul929207 said do not let Princess do the conversion ... they rip you off.

I am assuming you are Cdn thus I would buy US travellers cheques which you can get with no surcharge if you have a CAA card or certain banking privileges. Especially with the Cdn $ almost at par today you will pay no surcharge to Princess or your Credit Card Company for doing the converting. Make sure you settle your account on the afternoon of the last day to avoid them charging your credit card. They will not undue it if they have already processed it to your CC.

[caribill]

•You will know exactly what is being charged to your card in your home currency before you leave (it is printed on your final folio).

•No more surprises when you get the statement from your bank.

 

No more surprise when you get the statement from the bank -- true. But a big surprise when you get the final statement in your cabin on disembarkation day.

 

I do not know how it is in Canada, but in the USA, most banks charge a 3% foreign transaction fee for any charges not made in the USA, no matter what currency the charge is made in. If this is how Canadian banks do it, then after paying Princess's exchange rate and 3% convenience fee, you could still pay 3% more to your bank even though the bank did not do the currency conversion.

[brianmarx]

It happens all the time you take all the steps checking box on form putting do not convert on boarding pass They still do it Another cash grab by princess

[curlerguy]

Get a $US credit card and use it for your shipboard account. If you have a $US bank account you can pay it from that. Have your bank exchange $CAN to $US. It's a lot cheaper than Princess doing it.

Just make sure when you check in to be sure that Princess charges your account in $US. You have to check the appropriate box on the preboarding paperwork

[newport dave]

If Princess do convert after you say no, all you need to do is challenge the transaction with your credit card co. and Princess will refund the difference. Make sure to keep a copy of the paperwork where you tick to have your credit card do the transaction so you have proof to provide to your CC co.

[Johanna7]

It has been our experience that Visa credit card charges 2-1/2% for the currency exchange. This is a lot less than what the cruise lines charge. I think Master Card is about the same.

 

Best to settle the account in US$. It actually reached 'par' today.

[caribill]

Get a $US credit card and use it for your shipboard account. If you have a $US bank account you can pay it from that. Have your bank exchange $CAN to $US. It's a lot cheaper than Princess doing it.

Just make sure when you check in to be sure that Princess charges your account in $US. You have to check the appropriate box on the preboarding paperwork

 

Some posters have reported that if Princess does not follow your instructions not to convert, they will convert it to Canadian $ (with the fees to do so) based on your home address. Then your $US credit card, seeing the Canadian $ charge will convert it to US$ (with their fees to do so). But when you have to pay, you will then use your Canadian funds resulting in a third foreign currency conversion fee for the same charge.

 

Thus, you must be extra vigilant to make sure that Princess does not convert the charge drom US$.

[gunner22a]

Let them do it! You will get burnt and bad. Enough said

[Megsdad]

What currency?

 

relevance?