Credit Cards or ATM?

[terry the traveler]

We will be on a Mediterranean cruise in Oct and wondered if it is preferable to use a charge card (in port) for purchases, or find an ATM for cash? Are ATM's readily available? We heard some credit card companies charge a hefty conversion fee, anyone know? What about the exchange rates - better at ATM's?

[alinehu]

The exchange rate is much better for ATM and they are everywhere. Enjoy your cruise!!

[welove2cruise*]

Capital One is the only bank that I am aware of that has a Visa card that does not charge a foreign transaction fee. They also rebate the 1% that Visa charges back to their customers. I just purchased my Barcelona Turistic bus 2-day passes online (rate was in Euro) and the rate charged by the credit card company was exactly what the exchange rate was listed on the Google currency exchange calculator for US dollars.

 

They also provide 1% cash back on every purchase and 2% on grocery and gas purchases. I prefer to use a credit card than carry cash, but we always have an ATM that we know we can use if the need ever came up.

[texancruzer]

Call your credit card companies and find out what their fees are.

 

Most ATM cards will have a use fee - some a service charge or conversion fee or whatever they decide to call it.

 

We used credit cards, travellers checks, ATM cash - you name it - we used it !!!!

[Keith1010]

Whatever you end up doing, be sure to let your credit card and ATM companies know the dates of your travel and the countries you are visiting. This way they won't think there is fraud on your cards.

 

Yes, when you call the companies ask them what their fees are.

 

welove2criuse is correct. Capital One will not charge a fee for the credit card purchases.

 

I would convert some money as there will likely be purchases where you will not want to use a credit card and you will want to pay in cash. So, I would use the ATM's. Yes, the machines are readily available in most places. Be sure to use an ATM machine that whose symbols on your ATM card are duly noted on the machine.

 

Keith

[whogo]

The exchange rate is much better for ATM and they are everywhere. Enjoy your cruise!!

It depends on the card issuer. Most US credit cards charge 0% to 3%. ATM/debit cards used to get cash also charge 1% to 3% but add a $0 to $5 fee per transaction. None of these fees are hefty unless you withdraw small amounts of foreign cash and pay a fee each time.

 

Card comparisons and more info here: http://flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange

 

Even more good info:

http://www.ricksteves.com/plan/tips/moneytip.htm

[SomeWoman]

I am using cash just to be safe. You can get a decent exchange rate from ATMs. When we were in France a few months ago, our Visa cards did not work at all. I have since learned that much of Europe now uses chip-and-pin cards, which most American credit cards are not. I believe that American Express is the exception to this.

[travelite]

Just posted a reply under Euros (yesterday thread - ports of call - Europe - Mediterranean) It is todays statement from Bank America. It is detailed. I can't get it to attach so you will have to go to the thread and scroll down to Aug. 11, 2 p.m.

[craftymom914]

Two additional suggestions, based on our recent experience in the Med.:

 

1. When you call your bank about your travel plans ask if there is a limit for ATM withdrawals. One day we thought our cards were cut off until we realized we were asking for too much money.

 

 

2. Check if your ATM card doubles as a credit card, taking the money directly from checking (as opposed to sending you a credit card bill). If it does, ask what the fees are. (I guess it is like a debit card without the PIN.) Ours did and did not charge us any fees at all! Unlike the bank issued credit card!

 

We never ran into any problems over lack of electronic chips.

Have a great trip

[Memphis Belle]

We used credit cards, travellers checks, ATM cash - you name it - we used it !!!!

 

Did you get travelers checks in dollars or Euros, and where did you cash them? Was cashing them a hassle?

Is it possible to cash travelers checks in Euros for Euros cash on the ship?

Thanks!

[texancruzer]

Did you get travelers checks in dollars or Euros, and where did you cash them? Was cashing them a hassle?

Is it possible to cash travelers checks in Euros for Euros cash on the ship?

Thanks!

 

We ALWAYS take $1000.00 in travellers checks. We buy American Express ones in US $. We put them in the safe for emergencies and TRY not to use them. We used them on our Med cruise !!!! It was so easy to go each morning before we got off for our tours and just cash what we needed and purchase euros insteading of looking for ATMs. We also used credit cards whenever we could..... American Express first and if was not accepted we used our BOA Mastercard.

 

You can cash travellers checks in US$ or euros on the ship at the pursers desk.

 

NOW: next trip I am buying euros from my bank ahead of time. Also buying travellers checks at my bank in euros ahead of time. Just so much easier not to have to hassle with it when you get there.

 

You can cash travellers check in US$ and then purchase euros on the ship at the exchange desk (usually located right next to pursers desk).

[Travel to Ports]

The pattern repeats itself: Wise questions are asked and then folks let you know what they did. Now if you had a survey of at least N = 100, maybe you would get "the answer." One answer is to search Mediterranean for "credit card" and "ATM" as every couple of months these issues rise up and more or less wisdom is provided. Here is mine in a nutshell:

(1) Most ATMs charge a per use fee. Some banks rebate these fees.

(2) Most credit cards charge a % conversion fee on charges.

(3) Call the customer service number on back of your cards and find out what they are. When you go out of country call before for cards you may use and inform them of time period and countries to be visited, or the first time you use a card in another country it will be denied and when you are not home to accept their phone call, the card will be frozen. Better to prepare!

(4) Some cards do not charge conversion fees (Capital One), others charge 1% or even 2%! If you are paying a large bill as the alternative to carrying a lot of cash (like 4 nights hotel in Venice) you will be very unhappy with 2% fee.

(5) Some cards reimburse ATM fees. For me, this is a mystery as I'm not an ATM user. Following directions that can be found here with searches, I visited my Capital One neighborhood office and opened a checking account and requested debit cards (for both credit and debit cards, selected 4-digit pin numbers). For the account I opened, keeping a $5,000 balance gave me rebates of all ATM fees. Its important to visit your branch and see if the default maximum daily withdrawal will work for you -- if not, you can request an adjustment.

(6) Considering that I would have the need for euros immediately off of the plane and I am a professional worrier, I also purchased euros, knowing that within the purchase price of each euro is a built-in fee and that fee will be repeated if you make the mistake of changing euros back into dollars once you return home.

Enjoy the search,

Preparation is the start of the fun,

David

[Memphis Belle]

...search Mediterranean for "credit card" and "ATM" as every couple of months these issues rise up and more or less wisdom is provided.

Following directions that can be found here with searches, I visited my Capital One neighborhood office and opened a checking account and requested debit cards (for both credit and debit cards, selected 4-digit pin numbers). For the account I opened, keeping a $5,000 balance gave me rebates of all ATM fees. Its important to visit your branch and see if the default maximum daily withdrawal will work for you -- if not, you can request an adjustment.

 

We ALWAYS take $1000.00 in travellers checks. next trip I am buying euros from my bank ahead of time. Also buying travellers checks at my bank in euros ahead of time. Just so much easier not to have to hassle with it when you get there.

 

Thank you Texancruzer and David for the great suggestions!

 

I've tried numerous times to do a "search" and I always get a message saying the search engine is temporarily down. Am I missing something?

 

Jane

[Travel to Ports]

Hello,

I'll try to do this before I fall to sleep. Go to Mediterranean-Eastern & Western where there are 100s of listing of threads with the newest postings on the first page (your thread is there). Upper right corner, go to Search and click. Enter ATM credit card -- if you indicate threads, you identify 186 threads for your reading pleasure. Try it on some topic.

David