Converting Dollars to Euros on Board??

[gxchan]

I'll be on Voyager for a Med cruise next month. The excursion listing indicates you should convert your funds before getting off the ship. Do the ATMs on ships sailing in Europe dispense Euros or does the purser convert currency?

Thanks,

[KarinaGW]

From Independenttraveler.com

 

Use Credit and ATM Cards

You will almost always get the best interbank exchange rate when buying foreign currency with either ATM cards or credit cards, which will usually be 2 to 7 percent better than the rates you'll get when exchanging cash or traveler's checks. Try to use credit cards whenever possible for large purchases such as hotel bills, tickets and car rentals. However, keep in mind that most credit card companies add fees for transactions made in foreign currencies. (Capital One is one of very few U.S. credit card companies that do not.) Local vendors such as restaurants and shops may also charge a fee for credit card transactions.

 

If ATM's are easily accessible in the country you're visiting, we recommend using your ATM card for day-to-day cash needs. But again, remember that your bank (and the local bank) may charge you an additional fee for each transaction -- making it generally a good idea to take out as much money at a time as you feel comfortable carrying, rather than making multiple stops at the ATM.

 

Whether you need euros, shekels, pesos or pounds, making a withdrawal from an ATM is generally the easiest and cheapest way to get cash abroad. The biggest advantage of exchanging money with your ATM card is that all cash withdrawals, regardless of size, are exchanged based on the wholesale exchange rate, which is usually reserved only for very large interbank exchanges.

 

This rate is often 2 - 5 percent better than what you can get from exchanging traveler's checks at a local exchange counter. In addition, local banks or money change bureaus will add on transaction fees, which can easily eat up another 2 percent of your money.

 

That's not to say there aren't any fees associated with international ATM withdrawals -- see below -- but if you need cash, you will still almost always get the best exchange rate at the lowest possible cost by using your ATM card.

 

Finding an ATM

If your ATM card is linked to the PLUS or Cirrus networks, you have the option of using it to obtain cash virtually anywhere in the U.S. and in over 210 countries worldwide. Each network has over a million ATM's. The PLUS network is associated with Visa, so your Visa card will usually work at those ATM's. Likewise, the Cirrus network is associated with MasterCard, and Cirrus ATM's usually accept MasterCard for cash advances.

 

Before you leave home with just your ATM card, however, make sure that the Cirrus or PLUS networks are readily available where you're going. While PLUS and Cirrus ATM's are increasingly common overseas, they are still only available at a limited number of banks in selected countries. Each network has an online ATM locator:

 

# MasterCard/Cirrus/Maestro ATM Locator

# Visa/PLUS ATM Locator

 

Cirrus users can also call (800) 424-7787 for a current list of locations worldwide. Results are available on the phone, or you can choose to have them sent to your cell phone as a text message. The PLUS system has a toll-free ATM locator as well at (800) THE-PLUS, but it currently lists only ATM's in the U.S.

 

Using Your Card Abroad

If you want to use your ATM card overseas, keep in mind that many ATM's abroad, particularly in Europe, do not accept PIN's longer than four digits. If your PIN is longer, contact your bank to have it changed. Also, if your PIN is based on letters rather than numbers, translate the letters into numbers before leaving the country. Many ATM's only have numbers on the keypad. One more thing to keep in mind: Most ATM's abroad will only let you access the primary account on your ATM card.

 

Sudden changes in your account activity, such as frequent withdrawals in a foreign country using your ATM card, can sometimes trigger a fraud alert and cause your bank to freeze your account. To prevent being stranded overseas without a functioning ATM card, be sure to call your bank before you leave to let them know where and when you will be traveling.

 

Don't miss our tips for keeping your ATM card safe.

 

What Fees to Expect

At the very least you will probably be charged the same transaction fee, if any, that your bank charges you when using another bank's ATM. However, many banks now charge higher fees for international ATM withdrawals -- either a flat rate (typically $1 - $5) or a set percentage of your total withdrawal (usually 1 - 2 percent). Check with your bank before each trip abroad, as these fees can change often and without warning. To add insult to injury, you may also be charged a fee by the owner of the foreign ATM.

 

Because these small fees can add up quickly, you will probably want to withdraw larger amounts than you might normally do at home -- so be sure you have a safe, well-concealed place to keep your cash. (See Money Safety for more.) When deciding how much to withdraw, try to choose an uneven amount (90 euros rather than 100, for instance) so that you don't wind up with huge bills that you'll have trouble breaking.

 

Editor's Note: If your bank is a member of the Global ATM Alliance (Bank of America, Scotiabank, BNP Paribas, Barclays, Deutsche Bank and Westpac), you'll be able to access ATM's at other member banks overseas for free.

[As the ship sails]

I'll be on Voyager for a Med cruise next month. The excursion listing indicates you should convert your funds before getting off the ship. Do the ATMs on ships sailing in Europe dispense Euros or does the purser convert currency?

 

Thanks,

 

The ATM's onboard dispense US dollars. The ports that the Voyager stops at all have banks within walking distance where the ship docks. I would bring some Euro's with you from home and then you can get additional Euro's as needed from the ATM's after your first port. However depending on your banking plan at home the savings from using the ATM's may be lost due to the withdrawl fee your bank at home may or may not charge you.

 

My bank plan at home allows me to use any bank machine in the world for withdrawls for no additional fees. However many banks charge a $5+ fee for international withdrawls so I would check with your bank to see what your plan allows and any fees for such transactions.

 

Oh one more thing.......money exchange places are also within walking distance and offer good rates for exchange. If you bring US cash with you it is easy to change into Euro's in port and at a better exchange rate than at home I have found.

[gxchan]

The ATM's onboard dispense US dollars. The ports that the Voyager stops at all have banks within walking distance where the ship docks. I would bring some Euro's with you from home and then you can get additional Euro's as needed from the ATM's after your first port. However depending on your banking plan at home the savings from using the ATM's may be lost due to the withdrawl fee your bank at home may or may not charge you.

 

My bank plan at home allows me to use any bank machine in the world for withdrawls for no additional fees. However many banks charge a $5+ fee for international withdrawls so I would check with your bank to see what your plan allows and any fees for such transactions.

 

Thank you! I thought the ship's ATMs would dispense US currency but wanted to check. Fortunately my bank, like yours, doesn't charge me for out of network ATM fees, so I'll stop at an ATM when I land in Barcelona.

[gxchan]

Karina,

 

Thanks for the info. I see you are going on Explorer's 11/29 cruise. I've taken that cruise twice and loved it. Hope you enjoy it, too.

[As the ship sails]

Thank you! I thought the ship's ATMs would dispense US currency but wanted to check. Fortunately my bank, like yours, doesn't charge me for out of network ATM fees, so I'll stop at an ATM when I land in Barcelona.

 

Don't buy too much in Barcelona as the exchange rate in Italy is even better. The ATMs are not always clearly marked as to the different networks that they are attached to but if you put your card in and it doesn't work then just use the next bank.:D Also most of them allow you to select English as a language but I found the ones that didn't I could still figure out how to get my money out.:p

[AF-1]

Let me chime in here. I just returned from Voyager last week. I used the atm machine onboard. I took out $300. My total charge was $304. I then went to customer service and changed money for Euros. They did not charge any fee to exchange money. I also used an atm in Nice, France. I took out 100 Euros. I was charged $7 for the transaction. If you ask me changing money onboard was cheaper than using the atm machine. I also used an atm maching in Rome. It took my card and kept it. I ended up having to call my bank and have them put a fraud alert on my account. Good thing I carry two cards when I travel.

[As the ship sails]

Let me chime in here. I just returned from Voyager last week. I used the atm machine onboard. I took out $300. My total charge was $304. I then went to customer service and changed money for Euros. They did not charge any fee to exchange money. I also used an atm in Nice, France. I took out 100 Euros. I was charged $7 for the transaction. If you ask me changing money onboard was cheaper than using the atm machine. I also used an atm maching in Rome. It took my card and kept it. I ended up having to call my bank and have them put a fraud alert on my account. Good thing I carry two cards when I travel.

 

Personally I didn't find the exchange rate onboard to be very good. I found Italy to have the best exchange rates both at their ATMs and from the currency exchange places. My boyfriend works onboard the Voyager and NEVER exchanges money onboard as he gets a much better rate in port.

 

I've never had a problem using my ATM card internationally. It was just bad luck that you had that problem in Rome and it may have been a problem with the bank machine or your own bank may have flagged it if you didn't alert them of your travel plans. It is important to let your bank know the Countries that you will be visiting and the dates so that they are aware that it is YOU using the card otherwise they may suspect fraud and flag your card to be revoked.

[gxchan]

Let me chime in here. I just returned from Voyager last week. I used the atm machine onboard. I took out $300. My total charge was $304. I then went to customer service and changed money for Euros. They did not charge any fee to exchange money. I also used an atm in Nice, France. I took out 100 Euros. I was charged $7 for the transaction. If you ask me changing money onboard was cheaper than using the atm machine. I also used an atm maching in Rome. It took my card and kept it. I ended up having to call my bank and have them put a fraud alert on my account. Good thing I carry two cards when I travel.

 

Good to know I can exchange, if necessary, on Voyager. Sorry to hear about the machine eating your card in Rome, that would be upsetting. When you say you have two cards, do you mean you have a second ATM card for the same account? How would that work? I have two ATM cards, both for the same account, if one card gets lost both cards are blocked b/c it is one account.

[Tucker in Texas]

Maybe this has already been mentioned but always make sure whatever machine you use has a "symbol" like Pulse, Cirrus, etc. like you have on your card. If it doesn't, it is "private" and "Katy bar the door" for surcharges. We always look for one outside a bank.

 

One thing that happened to us in Tenerife was when we first used the machine, it appeared we needed a six digit PIN number--we have a four digit. They had buttons on the side of the screen to process your transaction which we had used. When it got to the final "confirm" button, it reverted back to where we put in our PIN number and blinked for two more digits. We tried adding zeros to our PIN but that didn't work. We got our card back quickly (time for transaction had expired) but no money. However, later we found there was a "bank" of buttons at the bottom of the machine. When we pressed "confirm" there, our four digit PIN number was accepted.

 

Tucker in Texas

[Seatravelers]

Just returned from Navigator on May 14 and exchanged money on the ship and also at ATM's in Spain, France and Italy. Exchange rate on the ship was the same as the going rate and purser's desk did not charge fee either. We always carry 2 atm cards from 2 different banks in case one gets zapped or eaten by the machine. Having dollars on the ship and exchanging them is easy if you're worried about your atm card. Just beware that some days they may be low on Euros. Greatest amount available when people begin to settle up. Have a great time.

[gxchan]

Tucker, I've cut and pasted your post into my Voyager info sheet--great tip on how to deal with the 6-digit request when you only have a 4 digit password. I read recently that most Eurporean ATMs use 4 digit passwords; being asked for a 6 digit one would have totally stumped me.

 

Seatravelers, thanks for clearing up the two ATM card thing!

[Studman]

Ok here's my deal....

Going on a 12 day med cruise from Rome to Venice, spending a day in Paris, 3 in Rome, and then 2 in Venice. add the 12 days on the ship and I figure I will need a good amount of of money.

I have and would like to use good old american hard cold CASH.

Do I exchange my US cash here at home to euro's BEFORE I go? OR

Do I exchange a small amount here at home and the rest as I need it?

Can I walk into a bank in Italy and exchange say 5000.00 us for euro's?

 

Everyone is saying "use the ATM" well i would like to use cash, any thoughts?

 

I know it's a waitng game with the exchange rates, but do you think I would be able to get the best rate us cash for euro's cash? Home, Airport, Big City ( either Paris or Rome), Ship

 

Oh and I know most will say I shouldn't carry that amount of cash but I really would like to use cash instead of cc's and atm's

 

any help would be great leaving in 10 days

 

Studman

[steveru621]

Maybe this has already been mentioned but always make sure whatever machine you use has a "symbol" like Pulse, Cirrus, etc. like you have on your card. If it doesn't, it is "private" and "Katy bar the door" for surcharges. We always look for one outside a bank.

 

One thing that happened to us in Tenerife was when we first used the machine, it appeared we needed a six digit PIN number--we have a four digit. They had buttons on the side of the screen to process your transaction which we had used. When it got to the final "confirm" button, it reverted back to where we put in our PIN number and blinked for two more digits. We tried adding zeros to our PIN but that didn't work. We got our card back quickly (time for transaction had expired) but no money. However, later we found there was a "bank" of buttons at the bottom of the machine. When we pressed "confirm" there, our four digit PIN number was accepted.

 

Tucker in Texas

 

I work in the ATM industry, and I think we try to make the process as mysterious as possible. :cool: Our favorite saying, "Are customers born knowing how to use an ATM?"

 

All ATMs are privately owned, some are owned by banks, others by non-financial companies. You are right to look for PLUS or Cirrus, but no matter who owns the ATM, if the ATM owner does not belong to one of the networks on the back of your card, the transaction will be rejected. There are literally only a handful of ATMs in the world that don't belong to PLUS or Cirrus, and the vast majority are connected to both. An ATM owner theoretically must follow the rules of the network(s) they have joined.

 

You should know, no network controls the surcharge. ATM owners are free to (an often do) charge whatever the market will bear.

 

A PIN can be 4-12 digits long, but not all ATMs are programmed to accept 4-12. Since the ATM owner cannot know how long your PIN is, you should need to press enter to let the ATM know you are done. I suspect 'confirm' has the same function as enter. May be a translation thing. I do know if your PIN is 4 digits, that's all that will work. Your PIN is encrypted before it leaves the ATM and 6 digits cannot equal 4. Often at your 'home' ATM you do not need to press enter, because it is programmed to know how long your PIN entry is.

 

This applies to the USA and International ATMs. I would only use an ATM owned by a bank. Some ATMs are owned by convenience store owners, that load the cash, and repair the ATM. If you have a problem and file a dispute, would you trust a regulated bank or a convenience store owner to refund your money? RCL's ATMs are owned by Bank Atlantic based in Florida.

 

ATM exchange rates are controlled by PLUS and/or Cirrus, and you are likely to get the best deal from them.

[gxchan]

Studman,

What a great vacation! I'm sure you will have a wonderful time. I was in Barcelona and then Voyager in early July for a Med cruise so I'll share what little I know about exchange rates, carrying cash (US), etc.

Since my bank doesn't charge me fees and I wanted to pay for the cab in Barcelona, among other things, in Euros when I arrived in Spain I got got 300 Euros in 20s and 10s before I left. The exchange rate was $1.45. On the ship the exchange rate is determined by Bank of America and was $1.54 per Euro and $1.57 when selling a Euro; these exchange rates were within pennies of what I found at banks in Rome, Naples and Nice. The only advantage of carrying cash I can see, as opposed to using your ATM card, is saving the out of network transaction fee, which can be hefty. I didn't check to see how much the banks would charge if I used their ATM but the ATM on Voyager charged $6 for each transaction.

I wouldn't be comfortable carrying the amount of cash necessary for such a long trip but I can appreciate one's desire to do so. May I suggest you consider using a money belt and make sure your hotels all have in-room safes.

Happy cruising.

[Studman]

Studman,

What a great vacation! I'm sure you will have a wonderful time. I was in Barcelona and then Voyager in early July for a Med cruise so I'll share what little I know about exchange rates, carrying cash (US), etc.

Since my bank doesn't charge me fees and I wanted to pay for the cab in Barcelona, among other things, in Euros when I arrived in Spain I got got 300 Euros in 20s and 10s before I left. The exchange rate was $1.45. On the ship the exchange rate is determined by Bank of America and was $1.54 per Euro and $1.57 when selling a Euro; these exchange rates were within pennies of what I found at banks in Rome, Naples and Nice. The only advantage of carrying cash I can see, as opposed to using your ATM card, is saving the out of network transaction fee, which can be hefty. I didn't check to see how much the banks would charge if I used their ATM but the ATM on Voyager charged $6 for each transaction.

I wouldn't be comfortable carrying the amount of cash necessary for such a long trip but I can appreciate one's desire to do so. May I suggest you consider using a money belt and make sure your hotels all have in-room safes.

Happy cruising.

 

Thanks so much for the info, It's exactly what I was looking for. I can't tell you how many people replyed " just use the ATM" " Why are you afraid of ATM's".

 

The thing is I HAVE CASH that I need to use. So I will exchange some here and the rest as I need it in Europe. Again Thanks

[gxchan]

Thanks so much for the info, It's exactly what I was looking for. I can't tell you how many people replyed " just use the ATM" " Why are you afraid of ATM's".

 

The thing is I HAVE CASH that I need to use. So I will exchange some here and the rest as I need it in Europe. Again Thanks

 

Glad to be of help. Have a great time.