Credit Card Conversion

[linanles]

What are people's experiences with cruise lines converting onboard accounts to AU$ or leaving it in US$ and having your own bank convert it?

[GUT2407]

What are people's experiences with cruise lines converting onboard accounts to AU$ or leaving it in US$ and having your own bank convert it?

 

Let the bank do it, in my experience you will be better off that way.

[OzKiwiJJ]

Definitely let the bank do the conversion.

[joybook]

Not even a consideration - let your Bank do it.:)

[linanles]

Thanks for the replies.

We went on an RCI cruise a couple of years ago and nominated our bank and when we were on board found that they had elected to do it themselves and refused to change it. That and a few other things about the cruise turned us of RCI forever.

[kuldalai]

Definitely let it be billed in the on board currency and let your bank do the conversion .

 

Princess and other cruise lines push the let them do the conversion option as it is yet another avenue for the cruise lines to nickle and dime .

[MicCanberra]

Most banks will offer a better rate on exchange than the cruise line and if you have a CC with no international fees (like the 28 degrees card), that will also help.:D

[ozziepost]

What are people's experiences with cruise lines converting onboard accounts to AU$ or leaving it in US$ and having your own bank convert it?

Let your bank do the conversion for you. Have a look at this article about dynamic currency conversion and you will understand why its a bad idea to let the ship do the conversion for you.

 

https://en.wikipedia.org/wiki/Dynamic_currency_conversion

[OzKiwiJJ]

Interesting article, thanks, ozziepost.

 

I never knew the currency conversion was actually done by a third party.

 

I think I used it once or twice in France many years ago, before I realised it wasn't a good exchange rate. Now I insist on local currency.

[MicCanberra]

Let your bank do the conversion for you. Have a look at this article about dynamic currency conversion and you will understand why its a bad idea to let the ship do the conversion for you.

 

https://en.wikipedia.org/wiki/Dynamic_currency_conversion

 

Good point, thanks for the link. Even when I make purchases overseas on my CC, I ask to be charged in the local currency so that my CC can do ethe conversion.

[The_Big_M]

Good point, thanks for the link. Even when I make purchases overseas on my CC, I ask to be charged in the local currency so that my CC can do ethe conversion.

 

The only issue is when the merchant presses the conversion before passing it to you. And then argues that is the price, no other option.

[OzKiwiJJ]

The only issue is when the merchant presses the conversion before passing it to you. And then argues that is the price, no other option.

 

At that point I'd refuse to enter my pin.

[MicCanberra]

At that point I'd refuse to enter my pin.

 

Agreed. I almost got trapped once in Noumea, told them to cancel and start again or no sale.

Edited July 5, 2016 by MicCanberra

[The_Big_M]

Problem is when you have family members who don't get what the argument is about, and why you're not going ahead with buying whatever after spending time looking. The vendor plays dumb (or genuinely doesn't know as they might have been told by the shop owner and think they're doing the right thing) and the family get annoyed.

 

Another time it wasn't apparent, as the device used Asian characters and it wasn't evident what the currency was (and of course the shop assistant couldn't speak English either).

[cdwh1902]

Most banks will offer a better rate on exchange than the cruise line and if you have a CC with no international fees (like the 28 degrees card), that will also help.:D

 

You've gotta love THAT credit card - would be lost without it overseas!

[Kiwi Kruzer]

If Credit Card fees ever bother you, dwell on what it used to cost when we had Travellers Cheques.

Those fees helped cover many a Bank Building in marble....:D:D

[joybook]

Careful - I'm an ex-bankie:)

[MicCanberra]

If Credit Card fees ever bother you, dwell on what it used to cost when we had Travellers Cheques.

Those fees helped cover many a Bank Building in marble....:D:D

 

Don't worry they still get their money out of the people who do not pay the account off every month.

[lyndarra]

I have a love hate relationship with my bank (that I once worked for).

Hate the fees they charge.

Love the dividends going into my accout every April and October.