Allow CC conversion by Cruiseline or Bank?

[Brainyblocks]

Hi there, sorry if this has been covered elsewhere, brand new poster! We are heading to Alaska in August for a cruise from Vancouver. Just got log in details for the Cruise Personaliser, and giving details for charging incidentals on our credit card. They are asking us to choose between the Princess charge rate and the bank rate for our onboard account - clearly the Princess charge rate is their recommended method! Is there any advice if this is actually the best method for settling the onboard account? Thanks in advance! Exchange rates are so slippery at the mo!

[OzKiwiJJ]

Hi there, sorry if this has been covered elsewhere, brand new poster! We are heading to Alaska in August for a cruise from Vancouver. Just got log in details for the Cruise Personaliser, and giving details for charging incidentals on our credit card. They are asking us to choose between the Princess charge rate and the bank rate for our onboard account - clearly the Princess charge rate is their recommended method! Is there any advice if this is actually the best method for settling the onboard account? Thanks in advance! Exchange rates are so slippery at the mo!

 

No matter what the exchange rates are at the time you will almost certainly get better from your bank than from Princess.

[Brainyblocks]

Thank you!

[paul929207]

Cruise lines give very poor exchange rates. A few years ago, Princess published the exchange rate & fees in the daily Princess Patter. If figured out that if you gave them $100US and got back Euros, and then converted those Euros back to US$, you would get about $77US back.

[Astro Flyer]

I always get the best currency exchange rate by having my bank or credit card company convert currency & have read that cruise line exchange rates are not good.

 

I've read it's best to make credit cards purchases in the local currency & have the credit card company covert it because they use the current rate of exchange. If the store does the conversion their rate of exchange is worse. I have a credit card that does not charge any foreign currency exchange rates but check for your credit card company.

 

If using an ATM to get US$, check with your bank to ask if there are any exchange fees. Even if a fee is charged it's still probably a better exchange rate than at any currency exchange business. My bank charges no fee & the ATMs we've used did not charge a fee although some might.

Edited July 8, 2015 by Astro Flyer

[Kamloops50]

Hi there, sorry if this has been covered elsewhere, brand new poster! We are heading to Alaska in August for a cruise from Vancouver. Just got log in details for the Cruise Personaliser, and giving details for charging incidentals on our credit card. They are asking us to choose between the Princess charge rate and the bank rate for our onboard account - clearly the Princess charge rate is their recommended method! Is there any advice if this is actually the best method for settling the onboard account? Thanks in advance! Exchange rates are so slippery at the mo!

 

Always use the bank. Two things one is a better rate and the second there won't be a hold on the funds.

[Colo Cruiser]

I always get the best currency exchange rate by having my bank or credit card company convert currency & have read that cruise line exchange rates are not good.

 

I've read it's best to make credit cards purchases in the local currency & have the credit card company covert it because they use the current rate of exchange. If the store does the conversion their rate of exchange is worse. I have a credit card that does not charge any foreign currency exchange rates but check for your credit card company.

 

If using an ATM to get US$, check with your bank to ask if there are any exchange fees. Even if a fee is charged it's still probably a better exchange rate than at any currency exchange business. My bank charges no fee & the ATMs we've used did not charge a fee although some might.

 

 

I agree. :)

[Tweedy]

Hi there, sorry if this has been covered elsewhere, brand new poster! We are heading to Alaska in August for a cruise from Vancouver. Just got log in details for the Cruise Personaliser, and giving details for charging incidentals on our credit card. They are asking us to choose between the Princess charge rate and the bank rate for our onboard account - clearly the Princess charge rate is their recommended method! Is there any advice if this is actually the best method for settling the onboard account? Thanks in advance! Exchange rates are so slippery at the mo!

 

 

I prefer to let my CC do the exchange rather then Princess but it really is a personal preference.

[jamiski]

I prefer to let my CC do the exchange rather then Princess but it really is a personal preference.

 

Agreed!

 

Not sure if it helps, or if you already know but if you prepay your grats they change a 10% conversion rate and will charge your card in CAD (we just did for Sept). Also, you can pre-load onboard credit at the same rate $1 USD for $1.10 CAD (at least we could this past May) for the same rate. They also charge your card in CAD so no extra fees etc...

[Kinkacruiser]

Agree. Always tick the your bank/do not convert option.

[caribill]

Also, if Princess does the conversion, they add a charge of 3% for the convenience of doing so.

 

I do not know how NZ banks do it, but most USA banks that have a 3% charge do it as an international transaction fee no matter what currency the charge is made in. If your bank has a 3% international transaction fee it would be charged in addition to the Princess 3% fee.