Currency

[Eric the red 63]

Hi, We are doing the Mediterranean Odyssey next October. We live in the US and I've never been to another country. So I was wondering what kind of currency we should use at the port stops. It looks like most of them use Euros but Croatia uses the Kuna. So should we get some of both for small expenditures in the cities? And would it be of any benefit to get the money before we leave home or just wait until we are there? Thanks for any help.

[Ready to Sail!]

There is a benefit to getting some Euros or other currency before leaving the US.  We always have some local currency with us when we land, enough for any needs to get to your hotel (if you're coming in a day or two early, which you should) and maybe a meal or two if you prefer using cash to cards. You will be tired and a little foggy from jet lag so best not to be trying to find ATMs.   Also, getting currency at the airport machines tend to have poor exchange, so another reason to have some with you.  

 

 

[Pushka]

The exchange rate is going to be better at the airport of the countries as you land and not in your own country. And some credit card/banking cards offer the same exchange rate as XE which is far better than Banks offer and many have no fees. Citibank is excellent. 

[Ready to Sail!]

13 minutes ago, Pushka said:

The exchange rate is going to be better at the airport of the countries as you land and not in your own country. And some credit card/banking cards offer the same exchange rate as XE which is far better than Banks offer and many have no fees. Citibank is excellent. 

I don't get our cash from a bank but from a international currency co which my Citibank accounts officer recommended before our first trip out of country.  I have never used a airport ATM but have always read/heard the rate wasn't favorable.  You could be right on that but I still say I would prefer to have cash on me when landing and not dealing with any ATMs as I am tired and trying to make my way through an unfamiliar airport.  I am also a little paranoid and don't want to be pulling out cards to use under these circumstances either.  Personally,  I would rather feel more at ease over trying to save a few dollars/euros.  Just me.

[Pushka]

14 minutes ago, Ready to Sail! said:

I don't get our cash from a bank but from a international currency co which my Citibank accounts officer recommended before our first trip out of country.  I have never used a airport ATM but have always read/heard the rate wasn't favorable.  You could be right on that but I still say I would prefer to have cash on me when landing and not dealing with any ATMs as I am tired and trying to make my way through an unfamiliar airport.  I am also a little paranoid and don't want to be pulling out cards to use under these circumstances either.  Personally,  I would rather feel more at ease over trying to save a few dollars/euros.  Just me.

 

 If you are using something like Travelex as an example, their rates are dreadful. I understand about the safety issue though, I usually have my partner stand behind me as I use the ATM. 

[Ready to Sail!]

11 minutes ago, Pushka said:

 

 If you are using something like Travelex as an example, their rates are dreadful. I understand about the safety issue though, I usually have my partner stand behind me as I use the ATM. 

I’m not using Travelex, and am getting a fair rate.  We also always use ATMs together. We have our cards in money pouches or elsewhere secure on our bodies so for us another reason not to use airport machines.   Before we went to Europe for the first time I probably read too many articles about pickpockets and may be a bit overly cautious.  We’ve never lost any money or cards but did let my guard down on a tram in France once and had my ereader taken from my bag.  

[Pushka]

Just now, Ready to Sail! said:

I’m not using Travelex, and am getting a fair rate.  We also always use ATMs together. We have our cards in money pouches or elsewhere secure on our bodies so for us another reason not to use airport machines.   Before we went to Europe for the first time I probably read too many articles about pickpockets and may be a bit overly cautious.  We’ve never lost any money or cards but did let my guard down on a tram in France once and had my ereader taken from my bag.  

You can never be too cautious when it comes to pickpockets. They are experts at their trade. 

[MarkTapley]

We were just in Europe this summer and cruised from Venice to Athens.  It’s really easy to get some Euros at an ATM at the airports.  In Croatia and Montenegro we used US dollars for small purchases;  seemed like the shopkeepers were glad to take them.  We just used the current exchange rate and rounded up the amount we offered in dollars.

[philw1776]

Just got back last week from Med Odyssey which is 80% euros.  Although I usually get local currency, I did not this time for Croatia and tipped in euros.  They take euros & dollars.  Just pay a bit extra so those you tip, etc. make out with the exchange rate.  Credit cards work well.  They are transitioning to the euro.
Did the post cruise pricey but excellent Lake Como extension. All 12 of us bonded well and loved it.

 

[Peregrina651]

 

We use the ATM at the airport. There is always one to be found and the rates are much better than buying currency in the US. Airport maps are easy enough to find and ATMs are usually marked on them. Most of the time, we have our choice. Even if we have to pay a fee, it still will be much less than whatever fees and premium on the exchange rate a travel company is charging.

 

Since we like traveling in Europe and plan to do more, we always come home with a couple of hundred euro to seed our next trip.

 

We have a dedicated ATM card for travel. It is connected to a separate account and is not linked to any of our other bank accounts; this limits our liability and if our card is stolen, the most they can take is what is in that one account and not our entire bank balance. We have set the daily limits so that it can only be used as an ATM card and not as a debit card. That means that the daily ATM amount is set at what ever the bank's daily limit or $500, which ever is lower, and that the amount of the maximum retail transaction is set at zero thus allowing no retail transactions.

 

Our credit cards are Capital One for multiple reasons. They don't charge a fee of any sort for foreign transactions. They text me and e-mail if they feel any transaction is suspect. They text and e-mail any time there is a foreign transaction made on my card. Each card holder has a separate account number thus if one of cards is stolen we are not completely without a credit card for the rest of our trip.

[Eric the red 63]

WOW! thanks everyone for ALL the great tips!