Traveler's Checks

[lkmamom]

Just wanted to post some info I just recieved from Princess. I had thought about taking some traveler's checks to cash onboard for our upcoming British Isles/European cruise. Well, I guess they will only exchange $250.00 in traveler's checks per cruise.

She said that Princess recommends that cruisers bring euros and pounds with them because they exchange rates are particularly high in Europe right now and we can get better prices here in the USA. Just thought that I would pass this on. I will be taking my debit card but wanted to have a back up plan in case the card got eaten or lost, that would only happen to me. We will of course take credit card but want to use that to a minimum (or so DH says:rolleyes: )

Just as a question......anyone have experiance with cashing traveler's checks in Dublin, Scotland, or Paris??Or should I just give this idea up??

Linda

[Jules1]

We're just back from the 6/11/05 British Isles sailing. We took traveller's checks with us (I wanted some just in case the debit card didn't work). I never cashed any of them. There are ATM machines everywhere and we used those for cash. We called our bank before going over and asked which banks we should use and made sure that our debit card would work. The ATM fees were only $1.00 for each of our transactions. We used ATMs in London, Dublin, Kirkwall, Edinburgh and Windsor. No problems at all - I won't even bother with traveller's checks the next time.

[Toto2Kansas]

Thanks for the info. We leave in August for the BI cruise and I would have been the one carrying a few thousand in TC's. Now I need another plan, but so glad for the warning beforehand!

[tomcarson]

Who did you hear this from?

 

We have cashed thousands of dollars in travelers checks on the ship. I wonder if this is a new policy or someone at the corporate office not knowing what is going on.

[Blackrobe]

You know the rules do change. Having said that, I have heard the same thing numerous times in the past (Princess will only cash $200.00 in travelers checks per cruise). I have never had a limitation placed on cashing travelers checks in United States currency. Like I said, the rules may have changed or the reference was to travelers checks in foreign currency but I have never been limited when cashing travelers checks in United States currency. They cash them at the Purser's Office and they gladly take them at the cashier's window in the casino. This is true of my cruises in the Caribbean, Alaska, Europe and South America.

[biomedbob]

you might try out some of the options at XE.com!

 

:cool:

[Jules1]

P.S. - the exchange rates you get onshore at the ATMs are much better than what is offered on the ship.

[lkmamom]

Thanks for all of the responses! Toto.....I had the same plan as you. We have cashed traveler's checks on Princess before without a problem but just wanted to make sure because this was a European trip.So it was a Princess rep that I called and checked with( for the person that asked where I got the info) I am so glad that I did. I will use the debit card but still thinking I will take some tc's and cash them at the airport if need be.

Linda

[cruznliz]

To summarize: There is no limit that I know of in cashing Traveler's Checks for U.S. currency onboard. The limit is in the amount of foreign currency you can purchase onboard. (You can also apply Traveler's Checks to your shipboard account). We were in Europe last Fall and this Spring and ATM's are plentiful. I would certainly not buy Euros in the U.S. Go to an ATM once in Europe and get them there. The exchange rate would definitely be better than buying them in the U.S. Also it might be easier to just use a credit card for most purchases. The problem comes in buying small items such as postcards. But most of the time postcard venders are more than happy to take U.S. dollars. We always carry lots of $1 bills. ;)

 

FYI: Be sure your ATM PIN number is 4 digits. I read on these boards that European ATM's don't like 5 digit PIN numbers. We went to our bank and easily changed our 5 digit number to 4. Better safe than sorry!

[Coral]

Doesn't Princess usually put currency exchange machines onboard? A friend used these a few years ago, she said it was convenient but I don't remember what she said about exchange rates.

 

My credit cards are now charging 3-5% on every charge I make outside of the US. I would check with your credit card before you leave on this.

[Toto2Kansas]

Oh, exchanging it for different currency I totally understand, but it just sounds strange that they would limit the amount you could cash for American Dollars. I can always cash them onboard (especially for the casino :)) and exchange more in ports for the local currency if needed.

[nho9504]

My credit cards are now charging 3-5% on every charge I make outside of the US. I would check with your credit card before you leave on this.

 

Coral,

 

The 3% service charges are always there - but in the past, the card companies hide it - they lumped it with the actual purchase charge. No one would keep track of the currency conversion rate and it is hard to know whether they use the date of charge or date of post for the conversion rate purpose. So people do not realize there is a hefty charge attached to charges incurred aboard.

 

Due to a settlement of a class lawsuit, now credit card companies are required by regulation to SEPARATELY list the 3% charges on your statement, so people KNOW they are being charged. It is there all along just that they are not shown as separate line items.

 

As far as I know, there is NO credit card that does not impose a 2 to 3% charge at least. Visa and MC themselves charge 1%, then your issuing banks tag on 2 to 3% charges minimum. MBNA used to be no charge, but they recently change to be the same as Citi and other majors. ditto CapitalOne.

 

The best way is to use ATM for your local currency needs. There is still a service fee, but some countries are less than others. Some banks are also less than others. Citi has no charge if you withdraw from a Citi ATM aboard, for example. BofA has a network of banks including Pays Paris and Scotiabank. If you withdraw from the member bank, there is no charge. However, if you withdraw outside the member bank, depends where you did your withdrawal, sometimes the charges can be hefty. I recently incurred $5.00 charge on a $75 worth Peso withdrawal at Huatulco, Mexico, using a BofA debit card. Cannot use Scotiabank as it was a Sunday and the ATM of Scotiabank is behind a locked gate which can only be swiped open using Scotiabank card.

 

I always use ATM for my local currency need, but bring some travel checks as backup. Never have to cash any travel checks though. I only use credit card for major purchases for the protection only a credit card can offer (dispute of quality of merchandise, after sales services, damages, etc etc)

[Coral]

Coral,

 

The 3% service charges are always there - but in the past, the card companies hide it - they lumped it with the actual purchase charge. No one would keep track of the currency conversion rate and it is hard to know whether they use the date of charge or date of post for the conversion rate purpose. So people do not realize there is a hefty charge attached to charges incurred aboard.

 

Due to a settlement of a class lawsuit, now credit card companies are required by regulation to SEPARATELY list the 3% charges on your statement, so people KNOW they are being charged.

 

Thank you for explaining that. I thought this was something new. I saw an article a few months ago in a travel magazine which talked about this and to call your credit card (and it listed several banks and their charges). I didn't realize that it had always been there - it just wasn't listed separately.