Princess onboard currency exchange USD to Euros. Pros & Cons? Fees & Rates?

We will be joining the Royal Princess 21 day Mediterranean cruise on May 6 2017 and was wondering the best and most cost effective way of converting US dollar to euros. There are 7 adults and will need to exchange at a minimum $4000.00 USD to Euros.

Does anyone know what Princess service fees on currency exchange are?

How much more percentage to they add to the current exchange rate or what it actually is currently?

Is it a better idea to exchange here in the states before heading to Europe?

Thanks for the help and information.

We will be joining the Royal Princess 21 day Mediterranean cruise on May 6 2017 and was wondering the best and most cost effective way of converting US dollar to euros. There are 7 adults and will need to exchange at a minimum $4000.00 USD to Euros.

Does anyone know what Princess service fees on currency exchange are?

How much more percentage to they add to the current exchange rate or what it actually is currently?

Is it a better idea to exchange here in the states before heading to Europe?

Thanks for the help and information.

Welcome to Cruise Critic.

It's a machine onboard......bad exchange rate and fees as well. Not worth it IMO.

You would be better to exchange onshore at a $$ exchange storefront in Spain/Italy.

Here is the link to the roll call for your cruise,

http://boards.cruisecritic.com/showthread.php?t=2289094

For converting that large an amount your bank at home should be willing to waive any transaction fees. Even though the rate will be slightly less in your favor than the rate credit and debit cards will use if you went purchase by purchase, it will be much more in your favor than either on the ship or at a bureau d'change in port.

Exchange rates on board any ship are notoriously poor so don't think about it.

You can withdraw euro cash using your debit card from any cash machine ashore. There are plenty around but look for one at a bank where you will get the best rates. Cash machines in shops or similar have poorer rates.

I don't know why you need €4000 cash. For any large purchases use a credit card.

I would also add my advice not to use a currency exchange shop or bureau as they don't usually give good rates.

Brian

I don't know why you need €4000 cash.

The OP said that there are 7 adults in their group that need to exchange.

That's not unreasonable. :confused:

The OP said that there are 7 adults in their group that need to exchange.

That's not unreasonable. :confused:

But as every restaurant, museum etc takes credit cards, why would you need that amount of cash?

I have been to some 'clubs' that are cash only, but have always made my excuses and left!

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But as every restaurant, museum etc takes credit cards, why would you need that amount of cash?

I have been to some 'clubs' that are cash only, but have always made my excuses and left!

The OP asked for conversion options.

I am not here to "school" the OP on whether he should or shouldn't take a certain amount of cash.

I am sure he is a big boy and can make his own decisions in that regard.

I always carry 1k to 2k in cash when we cruise/travel to Europe.

I also use my CC with no foreign transaction fees whenever possible.

Fair enough. Whenever I travel to the US I take $100 in cash. Why would I need more?

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We will be joining the Royal Princess 21 day Mediterranean cruise on May 6 2017 and was wondering the best and most cost effective way of converting US dollar to euros. There are 7 adults and will need to exchange at a minimum $4000.00 USD to Euros.

Does anyone know what Princess service fees on currency exchange are?

How much more percentage to they add to the current exchange rate or what it actually is currently?

Is it a better idea to exchange here in the states before heading to Europe?

Thanks for the help and information.

When we used the currency exchange machine on the Regal in our previous Baltic cruise, we learned that it would have been better to have exchanged more at our local bank. No regrets though as we only used it for emergency loose bills as most stores accepted US$ and credit cards.

I did 21 days on the Royal last May with one day pre and 2 post days in Athens. I am not sure where you are embarking . It was really quite easy to obtain all the currency I needed by hitting ATM's on three occasions. I walked across the street from my hotel in Athens the first nignt, stopped once while my wife was shoe.shopping along the Main Street in Cartagena and then again while we were strolling in Italy. I forget which town. I realize there are 7 of you, but I suspect 2 or 3 will each want to generate 1200-1500€ apiece. ATM's are readily available and will give you the best rates, be sure to use ones from banks, not from currency exchange centers. I generally carry 2 cards without transaction fees to have a spare available if something should happen. Know your dollar max. On a previous trip in Spain, when I was tired from a TA flight, I kept trying to get 500€ and was declined until my brain kicked in that that amount exceeded my $500 limit. You can bring money from home but you may pay a fee and that is a lot to carry. I do not know all your stops but even in the non-euro countries we were generally okay. In Turkey things were priced in all 3 currencies, so I picked what worked best. In Gibraltar the cab gave a lousy euro to pound exchange but I was prepared for that and for 2 of us on a tour it did not amount to that much. Do not forget that you will also be able to use your CC almost everywhere.

I have not exchanged onboard before and after doing some research decided my best option is to use an onshore atm. I'm sure their will be one in the airport. If you are spending time in a city before boarding their should be several banks available.

We have our Euros for our upcoming cruise. Was told the ship exchange isn't good, and the exchange businesses in ports isn't much better. We had the option at our bank of using a reciprocal bank with our debit card with no transaction fees but a 3% charge or to just order the money through our bank at 5.5%. We choose not to deal with the ATM's overseas and got the Euros in advance. Don't do it on the ship.

Order from your bank at home or get € from ATMs in Europe.

Like others, we haven't needed all that much cash on our last few trips to Europe as we find that credit cards are taken pretty much everywhere.

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We won't use our bank. Exchange rate is terrible and the fee is too high.

Only use an ATM onshore as a last resort.

We always find great rates at an exchange store.

I recommend exchanging a healthy amount at home first. Once in Europe, we did use the ship's currency exchange machines because they're far less risky than foreign ATMs. Sure we pay more, but we'd rather pay more to have less risk. The exchange rate of course varies; the fee was $10 per transaction, so try to keep your transactions to a minimum. It's located midship on Deck 4 with an ATM machine next to it.

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Why are 'foreign' ATMs risky? When I visit the US should I not use the foreign ATM'S in Boston, New York etc?

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Why are 'foreign' ATMs risky? When I visit the US should I not use the foreign ATM'S in Boston, New York etc?

No!!! :o They are foreign to you.

No!!! :o They are foreign to you.

Well, I've used mine all over the US, Europe,the Caribbean, Australia and the Far East without any problems. Not sure why Americans wouldn't want to use their cards in European ATMs?

We have an ATM card that is part of the Visa network and it has no service fees or exchange fees when using the card to get cash at ATMs. I use the Visa app on my iPhone to locate Visa ATMs near where I am. We end up getting Euros for about 0.1% to 0.2% above the current exchange rate. I only use the card at ATMs operated by one of the major banks in that country.

My ranking of best to worst options with regard to cost would be using an ATM card such ours in Europe, using an ATM card with a transaction and/or exchange fee in Europe, getting Euros from a bank at home (Wells Fargo may have one of the best rates), getting Euros at a currency exchange in Europe, and last, and the most expensive, getting Euros from the exchange machines onboard Princess ships.

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I recommend exchanging a healthy amount at home first. Once in Europe, we did use the ship's currency exchange machines because they're far less risky than foreign ATMs. Sure we pay more, but we'd rather pay more to have less risk. The exchange rate of course varies; the fee was $10 per transaction, so try to keep your transactions to a minimum. It's located midship on Deck 4 with an ATM machine next to it.

 

 

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ATM machines in other countries are no more or less risky than in the US. Have used ATMs across 6 continents and never had a problem

To each their own; we all assess our own risks. I've read lots of accounts of fraud from European ATMs, so we personally choose not to use them.

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To each their own; we all assess our own risks. I've read lots of accounts of fraud from European ATMs, so we personally choose not to use them.

 

 

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Like others I have used ATM's throughout Europe with ZERO problems. It is the safest, you do not need to carry large quantities of cash with you, as well as the least expensive means of obtaining local currency. You use ATM's at foriegn banks the same as you do at banks in the US. A wise traveler carries 1 or 2 debit cards which have no fees attached. I highly recommend the Schwab card and believe that other brokerage banks provide them as well. It reimburses all fees. Just be aware of your max withdrawal amount and ask to raise it if necessary.

To each their own; we all assess our own risks. I've read lots of accounts of fraud from European ATMs, so we personally choose not to use them.

 

 

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No more than in the US.

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It`s like making a donation to the ship. You pay with little return.

Do not exchange onboard...Fees are expensive. Do the exchange in the states.

I would also reconsider carrying that much cash as most places now take credit cards. Use a credit card with no foreign transaction fee and you are golden! Also notify all your banks and credit card companies of your travel dates so their is no issue with any holds.