Foreign Currency

[Grumpella]

I know everyone says you don't need foreign currency, but I'm old, lol and I like to have at least a few hundred in the local currency.

 

What is the best place to get foreign currency?  AAA?  Bank?  Online?

 

Thank you in advance for your help.

[Biker19]

Just now, Grumpella said:

AAA?  Bank?  Online?

None of those - an ATM away from the airport.

[Wineaux007]

12 minutes ago, Biker19 said:

None of those - an ATM away from the airport.

ATM for sure, but make sure it's a "bank" ATM.  Just a word of caution, ATM's now are giving you the option of doing the conversion for you.  You are best to decline and do the transaction in the local currency and let your home bank do the conversion.  This what they call a convenience service will cost you around 3%.  Most credit cards do not charge a conversion fee.  Check yours out before you leave.

[Another_Critic]

49 minutes ago, Wineaux007 said:

ATM for sure, but make sure it's a "bank" ATM.  Just a word of caution, ATM's now are giving you the option of doing the conversion for you.  You are best to decline and do the transaction in the local currency and let your home bank do the conversion.  This what they call a convenience service will cost you around 3%.  Most credit cards do not charge a conversion fee.  Check yours out before you leave.

To add ... confirm any fees accessed by your ATM card issuer (may be flat fee or % or both).

 

In my experience, most credit cards issued in the US do charge a foreign conversion fee.  Most (all?) no annual fee AMEX cards and Chase cards charge FTF.

[Grumpella]

I should have asked what is the 2nd best option, as I know the ATM is the best but I am travelling alone and will not visit an ATM alone.  Thanks.

[alfaeric]

9 minutes ago, Grumpella said:

I should have asked what is the 2nd best option, as I know the ATM is the best but I am travelling alone and will not visit an ATM alone.  Thanks.

Go in the bank, then.  And use the CC to get money- that will have most of the same fees as and ATM.

[MEOWCATS]

We preorder currency (at least Euros) from our local bank before leaving the US 

Saves us the hassle of figuring it out when we get there 

[crzndeb]

I usually go to AAA for a little cash before I go. There’s a fee, but it’s not much.

[George C]

We also went to local bank after doing some research.

[jwlane]

Where are you traveling?

 

These days, for the vast majority of transactions in Europe the debit card is preferred.

[LINDAE3213]

I recently went to my Chase bank in NJ and got currency for family traveling to Europe...there was no addtl fee.  

I also researched AAA but they had $12 fee.

[BirdTravels]

10 minutes ago, LINDAE3213 said:

I recently went to my Chase bank in NJ and got currency for family traveling to Europe...there was no addtl fee.  

I also researched AAA but they had $12 fee.

Totally depends on what you want. 
 

AAA has some of the best exchange rates and if you buy $1K free delivery. We would never exchange less than $1K. And pay our hotels, meals, and taxis in cash. 

[smokeybandit]

You don't need foreign currency. 

 

In the Caribbean, dollars are king.

 

In Europe, credit cards are king.

[PhillyFan33579]

Why would you want local currency? Every port I have visited in the Caribbean has always accepted US currency. Additionally, most places, at least in the vicinity of a port, list prices in US currency. I can’t think of one good reason to use local currency. If anything, it could become a pain in the butt if you visit several different ports that all use different currency. 

[Another_Critic]

On my last trip - 11 night cruise (three € ports) and 7 night land vacation (£), I spent £1 in cash.

 

Edited June 15, 2023 by Another_Critic

[CynBeth6]

2 hours ago, MEOWCATS said:

We preorder currency (at least Euros) from our local bank before leaving the US 

Saves us the hassle of figuring it out when we get there 

We did that for our upcoming Med cruise. We ordered over a month in advance in case it took time and got the call the next day it was in.

[Wineaux007]

3 hours ago, Another_Critic said:

To add ... confirm any fees accessed by your ATM card issuer (may be flat fee or % or both).

 

In my experience, most credit cards issued in the US do charge a foreign conversion fee.  Most (all?) no annual fee AMEX cards and Chase cards charge FTF.

My Chase MileagePlus does not charge a FTF.   AAA may not have a fee, but exchange rate is not favorable.  If you only need a small amount of foreign currency, go to guest relations and get $20-40 worth.  You will not get the most favorable exchange rate, but for that small amount, it shouldn't matter much.

[Cruise5life]

I always order some online from my bank.  And they mail it to me.   
And what I don’t use I save for the next time.   

Never have to leave my couch.   
and people that say cc is kind.  
it’s still nice to have local currency in your pocket.  

[Tree_skier]

The OP doesn't say what ports they think they'll need currency at but if it is anywhere in the Caribbean US dollar is sufficient.  

[Giantfan13]

We also bank with Chase and we always pre-order money when we will be in Europe. Saves us valuable time while in port. AND, as was said, Chase doesn't charge any fees.

 

Cheers

Len

[Wineaux007]

15 minutes ago, Giantfan13 said:

We also bank with Chase and we always pre-order money when we will be in Europe. Saves us valuable time while in port. AND, as was said, Chase doesn't charge any fees.

 

Cheers

Len

Chase doesn't charge any fees using your CC overseas, but I'm sure ordering Euro from them in the U.S. you will either pay a fee or get an unfavorable exchange rate, or both.

[njkruzer]

3 hours ago, jwlane said:

Where are you traveling?

 

These days, for the vast majority of transactions in Europe the debit card is preferred.

I don't use debit cards.  Too many problems if a mistake is made. Very hard to correct an error.

I get some cash from our bank in the denominations I want so I can have small bills for tips, etc, and don't have to find an atm when we get off a plane or in a cruise port.  

Edited June 16, 2023 by njkruzer

[HeidiHo]

When I cruise to the Caribbean I just bring USD. I visit my son who lives in Spain occasionally and then I always go to my Chase branch in advance just for a small amount of Euros and the only reason I do that is I usually take a taxi from the airport and I once was in a cab and his credit card swiper wasn't working so I was glad I had some Euros.

[ARandomTraveler]

8 hours ago, Another_Critic said:

To add ... confirm any fees accessed by your ATM card issuer (may be flat fee or % or both).

 

In my experience, most credit cards issued in the US do charge a foreign conversion fee.  Most (all?) no annual fee AMEX cards and Chase cards charge FTF.

My Chase Sapphire Reserve doesn't charge a foreign transaction fee, but it DOES charge a cash advance fee, so using the credit card to get cash out of the ATM is a bad idea. 

[ARandomTraveler]

6 hours ago, smokeybandit said:

You don't need foreign currency. 

 

In the Caribbean, dollars are king.

 

In Europe, credit cards are king.

 

6 hours ago, Another_Critic said:

On my last trip - 11 night cruise (three € ports) and 7 night land vacation (£), I spent £1 in cash.

 

This was my experience as well. I had about 800 euros for my trip last fall and came home with almost all of it.
 

Not only are credit cards used everywhere, but you don't even need the actual card because they take Apple Pay everywhere (at least in France and Italy they did).