canadians-best exchange rates

[A&S]

We are leaving on our first cruise in March with RCCL, and staying 3 days post cruise in Miami.

How much america cash should we take? And where is the best place to exchange money?

[CANBRFAN]

The amount of cash you take with you really depends on what you want to do. You don't use cash on the ship however, you can set up your personal account with cash for tips, on board spending, drinks etc. instead of using a credit card from what I understand. As for where to exchange your money, personally, I would exchange all of it in Canada probably at the bank. From experience, changing money in the US is always at a higher rate than what the bank offers. Have a great cruise, you are going to love it!

[cruisers5]

Hi, I have property both in US and Canada and have found the best rate to buy US is from Continental Currency Exchange (located in the mall) as opposed to the bank. Call around a few places, ie. Money Mart, banks and see what exchange rate is. If you use your credit card on puchases your exchange rate will be based on that day's best banking rate. From what I've found of banks in U.S. - you not only pay the exchange rate, they also charge a "service fee" to exchange it. Best if you get your money exchanged in Canada before you go. Happy cruising!

[elodie]

I can't answer the question about how much money you will need in Florida, but about changing money:

 

Another option would be to just withdraw the local currency from an ATM/cash machine when you arrive in Miami. As long as your bank card has a Cirrus, Maestro or Plus logo on the back and a four-digit pin, you can usually do this anywhere. I've used ATMS in India, South Africa, all over Europe, etc. without an issue. The advantage to taking money directly from the ATM is that you get the bank rate of exchange, which is usually much more favorable than the consumer rate. Even if your bank charges an ATM or foreign rate fee, you still usually come out ahead.

 

You won't need much money on the actual cruise, but you will want to have some set aside for time in port, tips to baggage handlers at the port, etc. My rule of thumb is generally to change $50 worth of local currency at home before I leave so I won't get stuck in the airport, and withdraw cash as needed.

[beaver]

We have found that with a credit card the cruise line calculated their exchange rate converting the US bill over to Canadian then putting this amount on your credit cared. It would be cheaper for Canadians if the card (Visa - Mastercard) could do the exchange. Our cruise last year saw a premum on our bill of 5% over the card exchange rate. We now have an american fund bank account and exchange funds when more beneficial to us.

[alfred]

When we were on RCCL last year, we used our credit card on the ship. You will have a choice if you want it left in CAD or changed by the ship to USD. Make sure you read the agreement and tick the correct box for funds.

 

As for in Miami, take USD with you......exchange it at your own bank. If you are taking a large sum, make sure your bank knows in advance so that they will have the currency on hand. For the most part, we stayed in Miami for 3 days and calculated 100$ per day. You can always use your credit card.

 

Another note, when traveling to the island, call you Credit Card centre and let them know you are going. If this trip looks odd to them, they could deny you your purchase.....thinking that someone might of stolen your card! Easy to do this, just call them to make sure.

[Sally Forth]

And if you are going to Mexico, watch for ScotiaBanks! They give great exchange rates.

 

DH and I usually use ATMs wherever we go, but we make sure it's a big bank that we've heard of. I've always thought the rates came out better than the mall currency place.

 

Viv