Currency exchange rate conversion

Hi I'm just checking into my cruise and as I'm from Australia but traveling on RCCL and it's in USD as I'm putting my debit card into my check in for onboard expenses it's asking me to pick from A- using the cruise lines currency conversion with a 3 % charge or B- using my bank to convert the amount with bank fees

My question is which one do I pick?? I have no idea lol please help

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Hi I'm just checking into my cruise and as I'm from Australia but traveling on RCCL and it's in USD as I'm putting my debit card into my check in for onboard expenses it's asking me to pick from A- using the cruise lines currency conversion with a 3 % charge or B- using my bank to convert the amount with bank fees

 

My question is which one do I pick?? I have no idea lol please help

 

 

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Use the bank....their conversions result in the lowest rates vs the cruise line.

You are aware of the hazards of using your debit card for ship expenses vs. a credit card?

Use the bank....their conversions result in the lowest rates vs the cruise line.

 

 

 

You are aware of the hazards of using your debit card for ship expenses vs. a credit card?

Thank you

No what were the hazards? I thought it would be a better option.....

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Thank you

No what were the hazards? I thought it would be a better option.....

 

 

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I can only speak for the US system...ATM/debit cards are subject to 'holds' that can last for days, sometimes weeks, after a cruise, before they are released, thus tying up funds that would otherwise be available for your use.

There have been several threads on CC about this. It has caught some folks in a bit of a bind for paying bills that were due when they got home from their trip.

Credit cards can have 'holds', too, but don't tie up funds in a bank account that may be needed for more pressing things.

I suggest that you investigate the situation so that you have all the facts.

I can only speak for the US system...ATM/debit cards are subject to 'holds' that can last for days, sometimes weeks, after a cruise, before they are released, thus tying up funds that would otherwise be available for your use.

 

 

 

There have been several threads on CC about this. It has caught some folks in a bit of a bind for paying bills that were due when they got home from their trip.

 

 

 

Credit cards can have 'holds', too, but don't tie up funds in a bank account that may be needed for more pressing things.

 

 

 

I suggest that you investigate the situation so that you have all the facts.

Thank you! I had no idea I will research more.

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Firstly, as thinfool has advised, option B.

Leave your on-board account in USD - your card issuer will convert at a much better rate than the ship and better even than cash exchange bureaux.

Some cards don't charge a conversion fee - your countrymen can suggest which ones are available in Aus, or google "no overseas transaction fee credit card Australia".

Well worth getting one, especially if you go abroad a few times. We have one which we use purely for foreign travel.

Just to flesh-out Thinfool's advice on "holds".....

they don't just apply to the US - the same happens elsewhere in the world.

And it happens with hotels, car rentals, & a host of other transactions where the buyer can run up a bill for extras beyond the basic transaction - hotel meals, bar tabs, phone calls, damage, etc. And with car rentals there's fuel, parking & toll charges, speeding tickets, damage, etc.

The cruise line will reserve money on your card to be sure there'll be enough available to settle their bill at the end of the cruise. You usually won't even know about it, because the money doesn't come out of your account so doesn't appear on statements.

By rights, when your on-board account - the money you actually spent - is settled by your card at the end of the cruise the "hold" should immediately be removed. But it isn't. The cruise lines blame the banks for the delay (yes, usually a week or more), the banks blame the cruise lines. It means you don't have access to that money in your account until the hold is released.

Happens with both credit cards & debit cards.

Not usually a problem with credit cards, most folk don't go anywhere near maxing their credit limit.

But if you run a low bank balance you may find it impossible to draw cash, have regular debits like rent, mortgage, energy bills, etc dishonoured.

Hence settling with a credit card is likely to be better than with a debit card.

RCI & other US cruise lines don't surcharge for using credit cards.

JB :)

Firstly, as thinfool has advised, option B.

 

Leave your on-board account in USD - your card issuer will convert at a much better rate than the ship and better even than cash exchange bureaux.

 

 

 

Some cards don't charge a conversion fee - your countrymen can suggest which ones are available in Aus, or google "no overseas transaction fee credit card Australia".

 

Well worth getting one, especially if you go abroad a few times. We have one which we use purely for foreign travel.

 

 

 

Just to flesh-out Thinfool's advice on "holds".....

 

they don't just apply to the US - the same happens elsewhere in the world.

 

And it happens with hotels, car rentals, & a host of other transactions where the buyer can run up a bill for extras beyond the basic transaction - hotel meals, bar tabs, phone calls, damage, etc. And with car rentals there's fuel, parking & toll charges, speeding tickets, damage, etc.

 

 

 

The cruise line will reserve money on your card to be sure there'll be enough available to settle their bill at the end of the cruise. You usually won't even know about it, because the money doesn't come out of your account so doesn't appear on statements.

 

By rights, when your on-board account - the money you actually spent - is settled by your card at the end of the cruise the "hold" should immediately be removed. But it isn't. The cruise lines blame the banks for the delay (yes, usually a week or more), the banks blame the cruise lines. It means you don't have access to that money in your account until the hold is released.

 

 

 

Happens with both credit cards & debit cards.

 

Not usually a problem with credit cards, most folk don't go anywhere near maxing their credit limit.

 

But if you run a low bank balance you may find it impossible to draw cash, have regular debits like rent, mortgage, energy bills, etc dishonoured.

 

 

 

Hence settling with a credit card is likely to be better than with a debit card.

 

RCI & other US cruise lines don't surcharge for using credit cards.

 

 

 

JB :)

Explained so well thank you!

Thanks both of you it was great info

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