US currency or local currency

[lithlith]

Where will I be able to spend US dollars and where will I need local currency for my upcoming cruise to Asia? (see itinerary below)

Did you purchase local currency before leaving home or did you use ATMs?

If you used ATMs, in which ports did you find it safe to use an ATM and where did you not?

If you purchased local currency before leaving home, where did you find the best deal (local bank, local coin dealer, AAA, travel agent, etc)? How much did you purchase, was the amount too much, too little, or just enough?


Itinerary: March 14, 2012 Diamond Princess
Singapore
Bangkok, Thailand
Ho Chi Minh City, Vietnam
Nha Trang, Vietnam
Hong Kong
Shanghai, China
Nagasaki, Japan
Busan, South Korea
Beijing, China

[Keith1010]

I'll comment on some of these.

Singapore used local currency and the ATM's are very safe.

Hong Kong used both local currency (ATMs are safe) and USA dollars.

Vietnam only used local dollars.

Japan, use local currency. ATM's readily available and safe.

Keith

[Philob]

Personal safety tip: Use extra caution using ATMs while in China.

Have someone literally watch your back or do what we do, stand back to back with someone from your group.

Don't dwaddle around while putting your $ away, just shove it into a pocket keeping your hand on it and secure it later on the bus or some where more private.

In another life, SWMBO was a tour guide in China.

[paul929207]

Originally Posted by Keith1010

I'll comment on some of these.

Singapore used local currency and the ATM's are very safe.

Hong Kong used both local currency (ATMs are safe) and USA dollars.

Vietnam only used local dollars.

Japan, use local currency. ATM's readily available and safe.

Keith

We had difficulty with the ATM's in Japan. Many were not connected to the international networks. For instance, in Okinawa, there is only one ATM that we could use.

[John Bull]

Check out this thread:
http://cruiseforums.cruisecritic.com....php?t=1523441

JB

[lahore]

Frankly I'm always surprised when people think they can use their own money in other countries, it doesn't work the other way around after all. But anyway, I've travelled extensively to all of these countries and also lived in Singapore and Hong Kong. If you try to use USD some people might take them, but you'll also be 'taken', losing a lot on the exchange rate. They'll think you're crazy, but whatever..... and make a profit. It's really not difficult at all to either go to a money changer or an ATM. I respect the author's opinion below about banks in China, but would add that am a solo woman when travelling there and have never hand any trouble taking (sometimes quite sizable) amounts out at ATM's.

The only one in your list where I had any difficulty was Japan, and as someone says you can't use every ATM there.

The very best hint I can give you (and this is what I did on my last Singapore to Rome cruise and will do again in my upcoming Hong Kong to Barcelona) is: I presume you are departing from Singapore? If so, go to the money changer in the basement of the Mustafa Centre in Serangoon Rd Singapore. They have the MOST incredible range of currencies I have ever seen, which reflects their extremely diverse clientele. Their rates are also good. I changed about AUD$100 for each country so I had enough to get a taxi and small things and then go to an ATM if necessary at each port. Worked perfectly and so many people envied my organization, but it was just a dead cinch.

[maryann ns]

Lahore is so right. We have always found it is better to use local currency. In Busan we found several banks near where the city's shuttle bus dropped us off.

We spent three weeks in Hong Kong and China and never had an ATM problem.

Do some homework, however, for Japan as there are some problems there. Our first port was Kagoshima and we were able to get money at the post office.

[Iluvcruising2]

I strongly suggest you use local currency for all the ports you mentioned.

[GrandmaHofmann]

I asked the guides we have in both ports in Vietnam if we could use dollars and they said they would like to be paid in dollars but that we needed Dong for the markets.

[GrandmaHofmann]

I think people are used to Caribbean ports where $ are used in addition to the currency of the island. Plus $ are accepted in many in house port stores, even in the Ukraine.

[newfarmers]

Look for atms in post offices (post office bank) and 7 11s (7 11 bank). Also Citibank machines. Every machine we used had an English button somewhere on the screen.

[Bowie MeMe]

Be sure to notify the bank that you will be traveling and give them every country that you might need to exchange money or use an ATM in. Our bank told us that policy is to block the card and flag the account if it is used out of the country without notification. The banker rather joked that if you really are traveling and your card is blocked you usually find a way to let the bank know otherwise it is considered a stolen card. This happened to our friend last trip. She claimed her bank said she didn't have to tell them where she was traveling but "It Weren't so!" and we had to loan her money for the month.

[GrandmaHofmann]

Why don't you get all your currencies from your home bank before you leave. I got seven currencies from our Chase bank at no cost, at the regular exchange rate, and it costs me nothing to return any bills I have left. They won't take change, of course. Much cheaper to do and no hassles looking for an ATM and taking chances with that when I get there.

[lithlith]

I originally started this thread, so I thought I should let everyone know what we decided.

We normally use ATMs as they always have the best rates, but when traveling to many countries on excursion after excursion, not knowing if we would see an ATM or have time to use one, we decided to purchase currencies ahead of time. (with the exception of Hong Kong where we are not taking an excursion, have been before, and will have time to find an ATM)

We researched around and chose to order currencies from Wells Fargo online. They by far had the best rates. I would have normally never looked into them, but I saw posts on Cruise Critic and Trip Advisor about them being the best, so we looked into them. We also looked into ordering currency from Bank of America, Chase, and a few other local banks. Some of them had no fees attached, but their rates were all between 10-13% for the currencies that we needed. Wells Fargo rates were 5-8% for the currencies that we needed. Wells Fargo does charge a $15 shipping fee, but that is waived if you order more than $1,000. We just received our order (we ordered Saturday night online and had it Tuesday morning) and were pleased to see that we had a variety of different denominations of each currency.

In case anyone else is shopping around for currency, you might want to check out Wells Fargo:
https://www.wellsfargo.com/foreignexchange/products

[John Bull]

Originally Posted by lithlith

I originally started this thread, so I thought I should let everyone know what we decided.

We normally use ATMs as they always have the best rates, but when traveling to many countries on excursion after excursion, not knowing if we would see an ATM or have time to use one, we decided to purchase currencies ahead of time. (with the exception of Hong Kong where we are not taking an excursion, have been before, and will have time to find an ATM)

We researched around and chose to order currencies from Wells Fargo online. They by far had the best rates. I would have normally never looked into them, but I saw posts on Cruise Critic and Trip Advisor about them being the best, so we looked into them. We also looked into ordering currency from Bank of America, Chase, and a few other local banks. Some of them had no fees attached, but their rates were all between 10-13% for the currencies that we needed. Wells Fargo rates were 5-8% for the currencies that we needed. Wells Fargo does charge a $15 shipping fee, but that is waived if you order more than $1,000. We just received our order (we ordered Saturday night online and had it Tuesday morning) and were pleased to see that we had a variety of different denominations of each currency.

In case anyone else is shopping around for currency, you might want to check out Wells Fargo:
https://www.wellsfargo.com/foreignexchange/products

Wow! Did you get Vn dong?
Outside of Vietnam, they seem to be as rare as rocking-horse manure.
Do take good care to count the noughts when handing them over, its easy to rob yourself ten-fold.
On the positive side, you'll be a mega multi-millionaire for a while

JB

[Bowie MeMe]

Thanks for that information. Another choice if we buy something on excursion though we usually just use the credit card.

My husband loves to collect a bill of the lowest denomination for each country he has gone to so that is always a major thing we try to fit in For his small bill collection, usually a guide is more than willing to trade US for local.

I have noticed in the last few years that many of our guides have asked in the negotiations for payment in US$. The countries include: Brazil,Chile, Ecuador (uses US currency), Peru, Turkey, Greece, and I'm negotiating now for China (travel agency and private guide). If local currency is subject to inflation -- they negotiate in US $ or so it seems. Most quote the price for the day the offers are made. Less risk for the operator if a future job will be paid in $.