Euros

[SB52]

Going on our first TA cruise in November on the Silhouette. Where is the best place to get Euros for the transfer to the port? Also, do you need Euros for the shore excursions? Thanks

[Karynanne]

We order Euros from our bank in the U.S. in advance of our cruise. There is a nominal fee, but it's one less thing to worry about when we arrive in Europe.

[HokiePoq]

We use the first bank ATM we find at a real bank, not moneychangers.

What port will you embark from? Perhaps we could be more specific with that knowledge.

[vulcan1971]

I also agree that getting Euros from a bank ATM at the airport you arrive to makes the most sense and most likely is the cheapest way to go about it. I have ordered money in the past, but the extra fees I paid and poor exchange rate used didn't benefit me for the perceived convenience of having money in hand.

 

Sent from my Samsung Note 2 on the T-Mobile 4G LTE Network

[4774Papa]

We like to use ATMs when we arrive overseas, but sometimes you need some cash in advance.

Wells Fargo allows you to purchase foreign currency with a Visa or MC. The rate is not quite as good as you get at an ATM, but it is superior to what you get from the money changers at US airports. Also, Wells Fargo charges you $15 for the FedEx delivery.

[daisy-mae]

Wells Fargo allows you to purchase foreign currency with a Visa or MC. The rate is not quite as good as you get at an ATM, but it is superior to what you get from the money changers at US airports. Also, Wells Fargo charges you $15 for the FedEx delivery.

 

If the currency is purchased with a credit card, would that not be considered a cash advance? If that is the case, then you would be paying interest on the purchase as of the first day, likely at a fairly hefty rate.

[Turtles06]

Going on our first TA cruise in November on the Silhouette. Where is the best place to get Euros for the transfer to the port? Also, do you need Euros for the shore excursions? Thanks

 

Hi SB52, we are on that TA with you. In terms of shore excursions --- I always want to have local currency with me when I am off the ship for any reason. You may want to buy food or a beverage, or a souvenir -- small purchases for which you are not likely to use a credit card. Also, I try very hard to tip guides and drivers in local currency; no reason they should have to exchange money on my account. (And of course if you are talking about a private excursion where you'll be paying for the tour at the end, you'll need whatever form of payment you've agreed to.)

 

As for where to get euros for your initial expenses -- I prefer to get them before I leave the U.S., but that's a matter of personal preference as you can see from the replies above.

 

Hope that's helpful; look forward to meeting you on board.

Edited August 11, 2014 by Turtles06

[4774Papa]

If the currency is purchased with a credit card, would that not be considered a cash advance? If that is the case, then you would be paying interest on the purchase as of the first day, likely at a fairly hefty rate.

No, the purchase is considered a charge, not a cash advance.

[vulcan1971]

We like to use ATMs when we arrive overseas, but sometimes you need some cash in advance.

Wells Fargo allows you to purchase foreign currency with a Visa or MC. The rate is not quite as good as you get at an ATM, but it is superior to what you get from the money changers at US airports. Also, Wells Fargo charges you $15 for the FedEx delivery.

 

I don't bank with Wells Fargo, but that is the financial institution I used when I buy in advance. There was a $5 fee and whatever the exchange rate the bank is offering. I did the trip in person, so no cost to ship the money to you.

 

Sent from my Samsung Note 2 on the T-Mobile 4G LTE Network

[Turtles06]

If the currency is purchased with a credit card, would that not be considered a cash advance? If that is the case, then you would be paying interest on the purchase as of the first day, likely at a fairly hefty rate.

 

No, the purchase is considered a charge, not a cash advance.

 

But note this word of caution on the Wells Fargo web site as to how the credit card issuer may consider the "purchase" of foreign currency:

 

Online transactions are processed by Wells Fargo as a miscellaneous purchase, and are normally posted as a purchase on your card statement. Wells Fargo does not assess a cash advance or other transaction fee related to a credit or debit card transaction. However, your card issuer may independently assess a cash advance or other transaction fee which could be included on your card statement. Please check with your card issuer regarding any fees.

 

https://www.foreignexchangeservices.com/index.html?partnerid=FES&serviceType=help

 

As Wells Fargo cautions, anyone contemplating "buying" foreign currency with a credit card should check with the card issuer to be sure it will not be considered a cash advance and subject to interest charges (or other fees).

Edited August 11, 2014 by Turtles06

[Wine-O]

It's my understanding that anytime you get money with your credit card, it's considered a cash advance and fees and interests will apply from the date of the transaction. This is different from a debit card where the funds come out of your checking account.

 

I do have a pin associated with my credit card for emergencies only in case I might lose my debit card for whatever reason or an ATM machine eats it up. :eek: But, I am aware that it will be a cash advance if I use it.

 

I always get my Euro from an ATM at the airport. There are several there. If for some reason it is out of order, your transport company or taxi will stop by an ATM on the way to your hotel. You need to check with your bank or credit union to see what fees they charge, but Bank ATM's in Europe do not charge anything. This is the most economical way to get Euro.

 

If you need that warm and fuzzy feeling of having some Euro before you depart, by all means get some, but be aware of the extra fees charged along with the unfavorable exchange rate.

[Lsimon]

Going on our first TA cruise in November on the Silhouette. Where is the best place to get Euros for the transfer to the port? Also, do you need Euros for the shore excursions? Thanks

 

First the easy question on whether you need Euros for the shore excursions. Excursions booked through the cruise line are paid for by your onboard account, or by credit card in advance of the cruise, in dollars. This is the same as all other spending while onboard the ship as Celebrity runs the ships on US$. Every other expenditure you make in Europe, including those on land at ports of call, will likely be in Euros. Few if any places accept dollars just as the merchants in your home town probably do not accept Euros. Of course you can also use a major credit card where they are accepted.

 

As for where to get Euros: There are two lines of thought on this: Local ATM machines in Europe or buying at your local bank in the USA before your trip.

 

The vocal majority here on Cruise Critic seem to suggest using the ATM at your arriving airport to get Euros for your European stay. Indeed use of an ATM is the least expensive way of getting Euros IF (and this is a big if) your ATM card issuer does not charge a percentage fee on foreign transactions and if their other fees and the fees of the ATM machine operator are not high.

 

Keep in mind you will be subject to per transaction and daily limits by both your ATM card issuer and the operator of the ATM machines you are using. So if you plan on getting, for example, 1,000 Euros for your trip it could take several days worth of hunting down ATM's and withdrawing the max. Also, while most people have no issues using their cards in overseas ATM's you have to consider the possibility that you might have a problem.

 

If you can't tell from my "worry" points in the above paragraph, I'm of the opinion that you're best getting Euros at your bank at home before your trip begins. This is slightly more expensive than using an ATM card which charges no fees as most large banks charge their customers roughly a 5% premium over the spot market exchange rate vs. roughly 1% or less on ATM clearing networks. But I consider this a small price to pay for the convienence of not having to worry about getting to an ATM when you arrive nor having to worry about limits or network issues. I usually get the minimum number of Euros I expect to use for my trip and then supplement that with ATM withdrawals if I think I'm going to need more. When you consider that getting $1,000 worth of Euros at most large local banks where you have an account will cost roughly $50 the cost really isn't that high.

Edited August 11, 2014 by Lsimon

[north29]

Well not a real problem, so I will join the crowd that says arrive with a couple of hundred Euros. Anyway My issue is that I alway have too many euros, LOL, I was in my safe box, and found about 600 euros, that I had stashed away and forgot.

On another note:

I bank with BA and went about finding their sister bank in France. BNP to use their ATM's. A couple of years ago there was no fee to use their ATM's. This year they now charge a transaction fee, but no conversion fee.

[sewon]

I will chime in on the side of taking at least a few hundred Euros with you rather than depend on the ATMs in the port/airport. Sometimes these ATMs are empty, or not working. Here in Santa Cruz, we can use a cash exchange office in the Western Union office to get money from many countries. Yes, the exchange might not be as good as at an ATM in Europe, but our bank teller recommended it since it was better than the bank's rate, and it was better than any of the rates I saw on line. Write a check and the money is handed to you.

[4774Papa]

But note this word of caution on the Wells Fargo web site as to how the credit card issuer may consider the "purchase" of foreign currency:

 

 

 

https://www.foreignexchangeservices.com/index.html?partnerid=FES&serviceType=help

 

As Wells Fargo cautions, anyone contemplating "buying" foreign currency with a credit card should check with the card issuer to be sure it will not be considered a cash advance and subject to interest charges (or other fees).

Even if if goes through my credit union as a cash advance, I pay off my cards every month and the cost would not be significant.

[KirkNC]

Sounds like you are fly to Europe and than going to the port? If yes, just get euros from an airport ATM.

[daisy-mae]

Even if if goes through my credit union as a cash advance, I pay off my cards every month and the cost would not be significant.

 

Unlike a purchase that comes with a grace period, a cash advance begins to accrue interest immediately. Unless you pay off your balance within the first day or so, you will be charged interest on your next statement. Also, I believe that a partial payment will apply to purchases first, meaning that if the balance is not paid in full, the interest on a cash advance will continue to grow.

[crazygirl!]

We have found using ATMs in Europe easy and cost-effective. We also use a Capital One bank card that reimburses ATM fees and that we only use for travel. We keep a low amount of money in this account in case our card gets lost or stolen.

 

However, I also highly suggest having some Euros with you to start your trip, as you never know what will happen and if you might need some foreign currency quickly. Since we have been fortunate enough to travel to Europe multiple times, we always come home with a few hundred Euros to have for the start of our next trip.

[Wine-O]

We have found using ATMs in Europe easy and cost-effective. We also use a Capital One bank card that reimburses ATM fees and that we only use for travel. We keep a low amount of money in this account in case our card gets lost or stolen.

 

That was one of my major concerns, losing my ATM card and someone wiping out my checking account while I'm on vacation using the VISA portion of the card. Although you could get it all back at some time, it would be a major pain in the butt. :eek:

 

We're with TD Bank, and I have no ATM conversion or transaction fees. I disabled the VISA portion of the card, so it can only be used as an ATM card with a PIN. If I lose it, it's worthless to anyone without the PIN.

[catugirl]

We just took a Viking river cruise in France in July and a post-cruise trip to England. We got Euros and Pounds from our local bank before the trip, and we were so glad we did. That was one less thing we had to worry about in a foreign country. Anything you have left over from your trip can be converted back to dollars at your bank when you get home.

[Wine-O]

We just took a Viking river cruise in France in July and a post-cruise trip to England. We got Euros and Pounds from our local bank before the trip, and we were so glad we did. That was one less thing we had to worry about in a foreign country. Anything you have left over from your trip can be converted back to dollars at your bank when you get home.

 

If it works for you, then that is good. To me, that's a double screw job with regard to conversion rates/fees -- you get wacked on the front end then get wacked on the backside. :rolleyes:

[daisy-mae]

If it works for you, then that is good. To me, that's a double screw job with regard to conversion rates/fees -- you get wacked on the front end then get wacked on the backside. :rolleyes:

 

You can always save the foreign currencies for your next trip, which is a lot easier than trying to calculate exactly how much you will be spending in order to withdraw the exact amount, then wasting the remainder on trinkets at the airport before the flight home...

[Lsimon]

If it works for you, then that is good. To me, that's a double screw job with regard to conversion rates/fees -- you get wacked on the front end then get wacked on the backside. :rolleyes:

 

That's very true but it really depends how much currency you buy and how much is left over. Depending on the trip and excursions planned we've bought $1,000 to $2,000 of foreign currency. At our local bank's rates that's about $40 to $80 more than the cost of using an ATM if we had a card with no foreign transaction fees, no ATM charges and no cash advance fees. We do not and I really haven't had the desire to open new bank accounts for a trip we take less than once a year just to save that much money. Since I only take the minimum we expect to use, and supplement with ATM usage, I really don't have that much left over. More than half of our Europe cruises over the years have been Westbound Transatlantics and on those I just cash in the remaining Euros at the customer relations desk on board after our last port stop and have them applied to our onboard account. The extra cost of doing this is typically around the cost of a coffee or drink on board depending on how much I have left over. Not enough to get excited about.

Edited August 12, 2014 by Lsimon

[alcpa1]

If you belong to a credit union do check their offer. Ours requires two weeks notice but does not charge a fee for purchase.

Also a reminder to all for the umpteenth time, contact your credit card/debit card company before you leave so they do not flag and halt your account from foreign destinations.