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Cash vs. cards


merrymerri
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This is our first trip to the Mediterranean, we’re spending a few days in Athens before and a few days in Rome at the end. For those of you who have traveled in Europe before do you rely more on credit cards or cash? Are bank ATM’s easy to find? Should we have some Euros on us before we leave the states? Do you tip the drivers and house keeping at hotels wait staff and tour guides? We are so excited about this trip I never thought we would see all of these places!

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For most purchases a credit card, preferably one with no foreign exchange fee  - your fellow-Americans can suggest some which don't charge a fee.

For small purchases, like a couple of coffees, cash may be better value if your card issuer has a minimum forex fee.

 

ATMs are pretty-well everywhere, though without putting your card in and starting a process it can be difficult to figure which banks are sisters of your own bank & don't charge a withdrawal fee & which charge a fee (and how much) . By which time I can't be bothered to try elsewhere :classic_rolleyes:.

ATMs detect or ask which language you want for instructions. 

During the process you'll be asked if you want your card charged in your own currency or in local currency. Choose local currency,  (probably euros) and rely on your own bank to give you the best exchange rate.

Same applies to using your credit card ashore (and your shipboard account if not a USD ship) - always but always have your card charged in local currency. 

 

So you need to check what foreign fees, if any, are charged by your bank / credit card.

And consider getting one with no forex fees, even if you only use it for foreign travel. 

 

Americans seem to get pretty poor exchange rates for foreign cash at home,  but it's not a bad idea to have some in your pocket / purse when you arrive. Mebbe $100 or $200?

 

Tips aren't the big deal that they are in the US.

Housekeeping if you want, not usual for a stay of just a day or two.

Not bar-tenders.

Taxi drivers - just round-up the fare.

Guides if they're good, ditto private transfer drivers such as airport to port. (BTW, both airports are distant from the cities & especially their ports so pre-book fixed-rate transfers or use public transport - don't simply take a taxi from the rank, very expensive for those distances)

Wait staff if there's no service charge on the bill (there usually is in tourist spots), and the service is good.

Tips are much lower than in the US - 5% to 10%.

And if you don't tip at all, nobody's going to chase you down the road - like I said, its not the big deal that it is in the States.

 

Enjoy your research & preparations.:classic_smile:

And of course your cruise.:classic_smile:

 

JB :classic_smile:

Edited by John Bull
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JB has given you good advice.  I am from the US and here is my approach.  I like to show up with a few Euros in my pocket.  But usually only about $100 worth or so.  Just enough so that I don't feel uncomfortable if I have any immediate need for cash before I can get to an ATM.  Sometimes, I have this from a previous trip to Europe and sometimes, I order it from my local bank prior to leaving.  Once in Europe, I try to use my credit card for most purchases.  I think all of my current cards have no additional fees for international transactions.  I tend to take at least 2 and usually 3 credit cards with me, just so I have options.  For casual spending money (smaller meals, beverages, incidental purchases, etc., I use Euros.  When I start running low on Euros, I hit up an ATM and use my  debit card linked to my home checking account.  I don't spend a lot of cash, so I usually just get 100 Euros at a time.  But you can withdrawal as much as you want.  You should check with your bank to see how much each transaction will cost you.  But to be honest, I don't really worry that much about these fees if they hit me.  They don't bust the bank.  I carry 2 different ATM Debit Cards with me in case something happens to one of them (i.e. the machine eats it or one gets damaged, etc.).  In the tourist areas you will be visiting, you will have no problem finding ATMs.  It seems there is almost always one within sight wherever you go.  It's very easy to deal with money in Europe.  Don't stress about it.  

Edited by MeHeartCruising
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Great advice (above).  The OP also needs to think about "back up" strategies.  Keep in mind that ATM/Debit cards can fail, or even get "eaten" by an ATM machine (this actually happened to me once in Mexico).  It is really nice if you have 2 ATM cards for separate accounts (this is pretty common with many couples).  And it is the same with major credit cards.  If you have backups you might consider leaving them locked up in a hotel or cruise cabin safe.   I know that Myheartcruising touched on this issue but we wanted to reinforce it since it can become important.  ATM machines are very common throughout Europe and you should have little problem finding a machine.  

 

Hank

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We were recently in Greece for a month.  Seldom used cash.  Always credit card and more often than not it was tap and go.  Big change from our trio three years or so ago.

 

We are in Cyprus at the moment.  Same.  We will start using cash to deplete our stash of Euros since we only have another 10 days or so before returning home.

 

We use use a credit card that does not add an uplift to the exchange rate.  We always ensure that we have multiple credit cards and ways of accessing cash and/or credit.

 

 

 

 

Edited by iancal
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For our last 10 day Mediterranean vacation, I brought €1000 Euros for my family of 4. We returned home with about €600. As mentioned above, we paid for most purchases with a credit card and only used euros for small purchases, taxis, tips, etc. I did pre purchase most activities and excursions, so that was one less thing to worry about. 

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We find that we get a much better rate of exchange when we buy foreign currency in country vs at home.  I checked prior to leaving home, then compared the rate we got from AlphaBank in Greece.  It was about four points better.   We do the same when we go to Thailand in the winter.

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We always take several hundred euros with us from home and a smattering of Kuna or whatever currency we will need. It is always good to have some local currency.  We find our bank and sometimes the local banks add on extra fees of 5 to 8$ so we take out larger amounts.  We too use our credit card as much as possible and have found the tap feature works well in Greece.  

But there is always the odd place like in Rome whose credit card machine is “broken”

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  • 4 weeks later...

I have used ATM's in Rome prior to the start of my cruises, and they are very convenient, but I usually take between 500-700 euros with me that I get in the states. That's just because while traveling, especially on a cruise where we do a lot of tours, I don't want to have to worry about finding ATM's to get additional euros if I run out. I also use credit cards, but I pay small things with euros (food, souvenirs). If I'm buying something of "value" I will use a credit card just in case I find that after I get home something is wrong with my purchase, I can dispute it easier with the bank.

 

 

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I prefer to take Euros (or local currency) with me...I get a great rate from my local bank...and pay cash for most of our needs and only use a credit card for hotels and at large establishments where I feel comfortable doing so.

 

I agree that we tend to avoid having to look for or the problems foreign ATM's can bring. Just our personal choice.

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I use my credit card as much as possible.  There is no foreign transaction fee and you will get the best exchange rate with a credit card than with any other method of payment.  I’ve never had any sort of problem using my credit card in any country in Europe.


I’ve never purchased Euros in the US but I will assume that the exchange rate is rather unfavorable. I’ll usually get a small amount of Euros from an ATM in the city center(not the airport where the exchange rate is bad). 

One thing to remember with using cash in Europe is that a lot of shops don’t like It. I’ve received more than one dirty look from the shop clerk when I’ve paid with cash. They clearly prefer payment with a card.  Cash is generally okay with a taxi however. 

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Forgot to mention that there is an AlphaBank branch in the Athens airport. Much better exchange rate those other rip off exchange offices.  We spent four weeks in Greece, two weeks in Cyprus.  We went with $1200 CAD (which we exchanged along the way) cash and 100 E.   We used an ATM once.  Took out $500E.   Came home with 150e but used up 150e in places we could have used a credit card just to get rid of some of the cash.   We were surpised at how many places accepted credit cards compared to a few years ago.

 

 

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We prefer to use cash for daily purchases and credit cards for hotels or bigger ticket items.  Both our debit card and our credit cards are without fees (auto rebate of atm fees on debit) and we have not had a problem in finding an atm yet.  We haven't had the negative reaction the previous poster did with using cash and we have been doing so extensively for the last 4 years.  Just do whichever works best for you - it will be easier than you think!

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We find credit cards widely accepted and use those for convenience.  Amex is a taken a bit less frequently than Visa/MC, but more widely accepted than some would have you believe.  In one instance in Italy, only Visa was accepted, no MC.  We use cash for smaller things like just grabbing a coffee or a bottle of water, or getting something from a street vendor.  We find an ATM upon arrival as needed; they are everywhere, although these days we find ourselves in Europe often enough that we usually just make sure to have some euros leftover when we leave that we save for the next trip.  Note:  train stations especially seem to often charge 1 euro for the restroom, so when you get euro coins as change, keep a couple handy for this purpose.

ATMs, as mentioned, are usually found easily and typically have an English instruction option when you insert your card.  We have also found that some have options of what currency to dispense.  We found some in eastern European countries, that still have their own currency, would offer the option of local currency or euros.  And some establishments in that area would accept either local currency or euros, and some in heavy tourist areas even accepted British pounds or US dollars.  Yes, I'm sure they account for a conversion fee when they let you pay in alternate currencies, but on occasion it was helpful to be able to pay with whatever currency we happened to have in excess.

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We stopped taking our Amex card when we travel.  We found too many places simply do not want to take the card.  Plus, our SPG Amex card adds 2.5 percent to each FX transaction.  Not worth the bother of having in our wallet.  Now, we use it very infrequently at home as well.

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  • 2 weeks later...
  • 1 month later...
On 11/7/2019 at 2:57 AM, sunlover12 said:

IOne thing to remember with using cash in Europe is that a lot of shops don’t like It. I’ve received more than one dirty look from the shop clerk when I’ve paid with cash. They clearly prefer payment with a card.  Cash is generally okay with a taxi however. 

 

I wonder which country in Europe you experienced this.  It is certainly has not been true in the countries I visit.  Some small businesses much prefer cash because they lose out on transactions due to bank charges.  

 

But answering the Ops question.  More than one card is important.  You do need to have some local currency to hand, but it is safer to carry a card than large amounts of cash in case you encounter pick pockets.   I have a card that carries multiple currencies.  That saves me a lot in bank charges.  It occasionally gets  turned down so it never is my only source of payment.  

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On 11/7/2019 at 1:57 AM, sunlover12 said:


One thing to remember with using cash in Europe is that a lot of shops don’t like It. I’ve received more than one dirty look from the shop clerk when I’ve paid with cash. They clearly prefer payment with a card.  

 

2 hours ago, ollienbertsmum said:

 

I wonder which country in Europe you experienced this.  It is certainly has not been true in the countries I visit.  Some small businesses much prefer cash because they lose out on transactions due to bank charges.  

 

 

That surprised me too.:classic_huh:

 

Large cash transactions arouse suspicions of money-laundering, but that only applies to very large purchases, mebbe €1,000 plus.

Or perhaps sunlover had large bills - !'m a little nervous about bills of €50 and upwards. Especially if tendered for a low -value purchase such as a €50 bill for an ice-cream, which kinda screams "forgery!" 

The €500 bills have been discontinued in most euro countries because they were associated with drug money, tax fraud, forgery etc  and few merchants accepted them.

 

JB :classic_smile:

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6 hours ago, John Bull said:

 

 

That surprised me too.:classic_huh:

 

Large cash transactions arouse suspicions of money-laundering, but that only applies to very large purchases, mebbe €1,000 plus.

Or perhaps sunlover had large bills - !'m a little nervous about bills of €50 and upwards. Especially if tendered for a low -value purchase such as a €50 bill for an ice-cream, which kinda screams "forgery!" 

The €500 bills have been discontinued in most euro countries because they were associated with drug money, tax fraud, forgery etc  and few merchants accepted them.

 

JB :classic_smile:

 

You are right to be nervous about 50 euro notes.  I always refuse them and stick to 20 euro notes which are accepted everywhere.  

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