euros? What do you do?

[Happy Cruiser 6143]

6 minutes ago, DENIE said:

A friend of ours who goes to Europe several times per year (some cruises, some land vaca's) advised us to go to Triple AAA ( we are members). They have a service that allows you to buy almost any currency.  At the end, if you have money left, they will buy it back.  As I understand, there are no fees.  You do have to be a Triple AAA member.

There don't have to be fees.  They'll make it up in the exchange rate they give you.  I do it at my bank with no fees either, but they are setting the exchange rate and I can assure you it's not the interbank rate.  They also will buy the foreign currency back when you return if you so desire.  Again, they set the exchange rate.  I ended up with a surplus of Norwegian Krona a while back.  Fortunately, I had a friend who was going to Norway, so I sold her the money at the spot rate--a good deal for both of us.  Euros I generally just keep.  I am a AAA member, but their local office is not convenient.  My bank is a few blocks away.  I'm all about what is easiest, even if it costs a bit more.

[ghstudio]

You have to be very careful when wading through the various marketing offers.  No foreign exchange fee does not mean no charge for foreign transactions ???  There are two things going on.....a foreign exchange fee added to the purchase price and the rate used to convert from one currency to another....and BTW, there is occasionally a fee for doing a transaction in another country which is applied even if the foreign purchase is converted to and charged in $'s (or your card currency).    If there is no foreign exchange fee but the conversion is done at an adjusted buy/sell rate (not the interbank fee) then they have just moved the fee...to allow them to claim no (explicit) foreign transaction fee.  I have seen at least one card where the issuer (bank) said they have no foreign exchange fee, but they pass on the VISA/MC 1% fee so you are still charged 1% even though you have a no foreign exchange credit card. 

 

It is almost impossible to find someone at the institution or card company who knows anything other than to repeat the words "no foreign transaction fee".  It's difficult to find out the exchange rate they are using today to compare it to today's interbank exchange fee...but if you push, they may find it for you.

 

The best way to find out...and of course it may be too late, is to charge something on your "no foreign transaction fee" card on day 1 of your trip....charges usually get posted online very quickly so you can look to see what that purchase actually cost and how much hidden fee is built in.  Alternatively, you can get advice from a friend (who more than likely has never actually checked to see if there is a built in fee) or the internet where you find all kinds of misleading information.

 

We carry three cards on foreign trips...Schwab Bank, Bank America Travel Rewards and the Costco Visa.  Schwab is used to get cash from ATM's (no fees and ATM fees are refunded); Bank America (2%+ back on any charges worldwide and no foreign transaction fees) and Costco (no foreign transaction fees and 3% back on meals worldwide).  For security, my wife and I each carry a different card, keeping the other 2 in our hotel, cruiseship/... safe.

 

I keep stressing Schwab bank which is a VISA card, accepted widely worldwide....vs the Schwab brokerage cards are American Express which is, in our experience, not widely accepted outside the US, other than expensive stores/restaurants/hotels.  

 

Note 1: you often see "when travelling, never let the store/car rental company/etc convert to $'s for you because they build in a fee in the conversion."  That's almost always the right advice EXCEPT when you are bargaining in $'s.  If you strike a deal in $'s, then charge your purchase in $'s...because if you say...no, use the local currency, they tack on the hidden conversion rate.

 

Note 2: Don't assume your airline charge card has no foreign exchange fees....here's a gottcha....MasterCard announced no foreign transaction fees..the AAdvantage Gold card is a MasterCard...put them together and you get.....foreign transaction fees are waived on the AAdvantage Platinum card, but NOT on the gold card.  I no longer carry that card when travelling...just use to book flights on American (which I try to avoid).

 

Nothing is easy....

Edited July 20, 2019 by ghstudio

[waterbug123]

On 7/18/2019 at 12:44 AM, Louhut1 said:

 I always contact our credit card.  Once I forgot they wouldn’t approve my purchase until I called them.  Not always easy when you are overseas.

 

Actually, most cell providers these days offer various international plans for relatively low cost.  And if you are in tourist areas you are almost certain to have coverage. 

 

On 7/18/2019 at 3:06 AM, GastroGnome said:

Echo that - Amex is not widely accepted in Europe. Mastercard or visa are the way to go.  You will need some currency for small purchases.  Smaller shops often won't accept cards for purchases under 5 and sometimes 10 euros.  Apple pay and the like are also not that widely accepted in smaller locations.

 

Amex is accepted less often than Visa/Mastercard, but we are finding that it is getting more and more widely accepted, particularly in hotels and large restaurants.  We've had trips to Europe where we were able to use Amex almost exclusively.

 

On 7/18/2019 at 9:19 AM, George C said:

We brought about a thousand in euros from local bank

 

As long as you're comfortable carrying around all that cash.  With the widespread availability of ATMs, we prefer to get cash as we need it.

 

On 7/18/2019 at 4:41 PM, Mike45LC said:

Many of the excursions I was looking at warn that the driver expects to be paid in cash in Euros on the day of the tour.  And the excursions are not cheap.  I ordered $2,500 worth of Euros from my bank, in mixed bills, so that I can pay for the excursions and cabs and restaurants and ….  without worrying about it. 

 

 

Just curious...what type of vendors are you using for excursions?  If booking through the cruise ship, they go on your credit card if purchasing in advance, or on your shipboard account if booking onboard.  Large excursion operators such as Viator will also typically accept credit cards.  I assume you are booking with small, independent operators if they are wanting cash on the day of?  We often book private guides and often find they will accept PayPal in lieu of cash, so that's another option.

 

[wendychloecruiser]

Don’t depend on the onboard ATM’s.  On our recent TA, both ATM’s were out of order for the entirety of the cruise.  I enquired at guest services and the purser told me that the ATM’s are independently owned/operated and on our particular cruise the machines were not serviced.   She does have access though as she said she wanted to fill them with “her” money for us guests but was turned down.  

[George C]

1 hour ago, waterbug123 said:

 

Actually, most cell providers these days offer various international plans for relatively low cost.  And if you are in tourist areas you are almost certain to have coverage. 

 

 

Amex is accepted less often than Visa/Mastercard, but we are finding that it is getting more and more widely accepted, particularly in hotels and large restaurants.  We've had trips to Europe where we were able to use Amex almost exclusively.

 

 

As long as you're comfortable carrying around all that cash.  With the widespread availability of ATMs, we prefer to get cash as we need it.

 

 

Just curious...what type of vendors are you using for excursions?  If booking through the cruise ship, they go on your credit card if purchasing in advance, or on your shipboard account if booking onboard.  Large excursion operators such as Viator will also typically accept credit cards.  I assume you are booking with small, independent operators if they are wanting cash on the day of?  We often book private guides and often find they will accept PayPal in lieu of cash, so that's another option.

 

All but one of our excursions were small private with approximately 8 passengers and for most we paid at end in euros. Most of our money stayed in safe in cabin.

[Presto2]

On ‎7‎/‎18‎/‎2019 at 5:33 AM, katiegirl1264 said:

Hi

 

We are on EDGE in August going to Italy and Greece. Do most people bring Euros with them? Or do you just use credit cards?do you contact your credit card company to tell 

them you're going abroad?

 

 

 

 

Yes to the Euros

We also take credit cards and sometimes use those

We let our credit card company know too

 

Which cruise are you on? We go on the 19th :-)

[ghstudio]

3 hours ago, waterbug123 said:

Just curious...what type of vendors are you using for excursions?  If booking through the cruise ship, they go on your credit card if purchasing in advance, or on your shipboard account if booking onboard.  Large excursion operators such as Viator will also typically accept credit cards.  I assume you are booking with small, independent operators if they are wanting cash on the day of?  We often book private guides and often find they will accept PayPal in lieu of cash, so that's another option.

 

As you travel around the world, you may run into some excursions that even require you to pay in cash in advance....using western union or paypay.  We ran into that in Vietnam...a very highly recommended tour company insisted that we pay cash in advance, in part because we would be there over the Tet holiday.  That also can happen due to local currency/tax and other laws and yes, we were a bit nervous because it was a pricey private tour in three different ports.  Turned out to be wonderful...and all the reviews were spot on....I continue to highly recommend that company.  

[capsplace]

On 7/18/2019 at 4:51 PM, Mercruiser said:

I'm an American living in Europe for a temporary job assignment. I use the Schwab no-ATM-fee checking account for all my ATM cash withdrawals. There are no ATM or other fees. I've used this debit card all over the world for ATM cash withdrawals. Highly recommended.

Ditto!  Schwab is the way to go!

[Mercruiser]

I am a bit surprised to hear about people bringing large amounts of cash with them. I have only been pickpocketed once in my life and that was last December while disembarking a European flight - in other words, it was one of my fellow passengers. Normally, I have less than 100 euros cash, but this time I had 200. Ouch.

 

This reinforces my approach to have a fee-free ATM card and only keeping a small amount of cash with me.

[Happy Cruiser 6143]

7 hours ago, waterbug123 said:

As long as you're comfortable carrying around all that cash.  With the widespread availability of ATMs, we prefer to get cash as we need it.

 

I don't carry all that cash around with me.  It stays in the safe until I need it.  On the plane, it lives in a money belt under my clothes.

[SbbquilterUT]

We use a debit card with no foreign transaction fee and get euros from an ATM once we are in Europe (not at the airport, rather at a bank).  Credit card company information can be accessed online - none of mine wanted to know we were out of country though I did notify the bank online.  Our credit card is also no transaction fee.  Suggest having at least two different cards with you in the event there is an issue with one of them.

[sscohen]

I have been a AAA member for almost 40 years.  But in foreign currency exchange they over charge.  I just started an order on AAA and BofA for $200 in Euros and $200 in Pounds.  AAA was $36 more than BofA, apples to apples order so FYI.  That's about the most I bring on trip now and get more from the ATM when needed.  So glad I don't have to carry around thousands in traveler checks anymore.  

 

I always bring 3 different credit cards.  My wife has one, I carry another and the third is stashed away as a backup.  If one of us gets robbed we always have another.  All cards we use have no fees for foreign transaction fees.

 

I want to add that we keep our cards in RFID sleeves.  One a trip in Europe a couple years ago one of our companions had their credit card number stolen from a scanner in a crowd.  They did not have another card.  They had to borrow and get money wired to them.

 

[jerseygirl74]

On 7/18/2019 at 4:17 AM, hubofhockey said:

.I don't go to US banks to get euros.  When we land at a European airport, we find an ATM and get cash.  I use a Capital One debit card as they don't charge any fees (maybe $1 for some transactions). 

Good to know...I have been pondering when to get some cash.  What about ports (Canary Islands, Spain, Portugal) do most have ATMs at the pier?  

[spencerdrivecruiser]

Have carried an NFCU Debit Card for years using it all over the world.  The surcharges seem minimal and not worth the time to research to save a few $$s.  The nice thing is I can load up the Debit Card online before each transaction.  There is hardly anything on the card when it's dormant so there is no fear if it is stolen or if I inadvertently place it in an illegal scanner at an ATM.  A very versatile card. 

[GateGuardian]

I bring Euros, but try to use my credit card as much as possible. Amex is not as widely acceptable as Mastercard or Visa. I bring cash for small purchases, street vendors, tipping the tour guide, and coins sometimes to access the washroom. That said, you don't need to bring a lot of Euro.

[TeeRick]

On 7/19/2019 at 10:09 PM, Happy Cruiser 6143 said:

There don't have to be fees.  They'll make it up in the exchange rate they give you.  I do it at my bank with no fees either, but they are setting the exchange rate and I can assure you it's not the interbank rate.  They also will buy the foreign currency back when you return if you so desire.  Again, they set the exchange rate.  I ended up with a surplus of Norwegian Krona a while back.  Fortunately, I had a friend who was going to Norway, so I sold her the money at the spot rate--a good deal for both of us.  Euros I generally just keep.  I am a AAA member, but their local office is not convenient.  My bank is a few blocks away.  I'm all about what is easiest, even if it costs a bit more.

Linda- thanks for making this comment.  I am surprised by the number of people that don't know or understand this.  Celebrity profits on the exchange rate on board.  So do local banks and travel agencies like AAA.  It is twice as bad when you exchange and the at the end of the trip exchange back.  The no-fee electronic method (like ATM debit cards) or credit cards give the best exchange rate daily.  You just need to sign up for one of these.  Several have been mentioned in this discussion.  We mostly use this method when we travel.  Of course we bring a small amount of local currency to get started if necessary.

[TeeRick]

9 hours ago, spencerdrivecruiser said:

Have carried an NFCU Debit Card for years using it all over the world.  The surcharges seem minimal and not worth the time to research to save a few $$s.  The nice thing is I can load up the Debit Card online before each transaction.  There is hardly anything on the card when it's dormant so there is no fear if it is stolen or if I inadvertently place it in an illegal scanner at an ATM.  A very versatile card. 

We also use a dedicated debit card when we travel. We use one from our bank and set it up just for travel.  We make sure we have just enough cash in this account to cover our needs.  We also make sure the overdraft protection feature from the bank is turned off.  That is important. And of course it is not linked in any way to our main account.  So we minimize our risk if we were to get hacked.  If during the trip we need more funds we can easily sign on and transfer funds to this dedicated account.  Even doing all of this, if we can prove we were hacked we would have fraud coverage.  All of this is much safer than carrying a lot of cash with us.

[ghstudio]

19 hours ago, jerseygirl74 said:

Good to know...I have been pondering when to get some cash.  What about ports (Canary Islands, Spain, Portugal) do most have ATMs at the pier?  

 

Most ports have a shopping area you pass through to get out of the port....and they often have ATM's.  Be careful...very few of those are bank ATM's...they have been set up by money exchange companies or private individuals who charge (much) more than using a bank ATM.  However, once you get out of the port and walk around (or get off the shuttle bus), you will almost always find a bank ATM.  There are a few exceptions, but if you are in the EU (spain/portugal/....) travelling to EU ports you will have the chance to change money at your arrival airport.  Even at the airport, you have to be careful that you are using a bank ATM....if you aren't sure, ask someone.  If you are arriving in the EU from a non EU port...eg. Southampton..then you can just use an ATM at the first EU port.

 

BTW...if you are from the US passing through England for a few days and have pounds left over when you get on the ship....do not change them to Euros on the ship....change them back to $'s and then use an ATM as described above. The ship charges about 8% to convert from pounds to dollars and then charges another roughly 8% to convert those dollars to euros.  Your $100 worth of pounds gets you $85 worth of euros.

Edited July 23, 2019 by ghstudio

[Happy Cruiser 6143]

2 hours ago, TeeRick said:

We also use a dedicated debit card when we travel. We use one from our bank and set it up just for travel.  We make sure we have just enough cash in this account to cover our needs.  We also make sure the overdraft protection feature from the bank is turned off.  That is important. And of course it is not linked in any way to our main account.  So we minimize our risk if we were to get hacked.  If during the trip we need more funds we can easily sign on and transfer funds to this dedicated account.  Even doing all of this, if we can prove we were hacked we would have fraud coverage.  All of this is much safer than carrying a lot of cash with us.

 

Well, this is all well and good, but there is NO WAY I would access my bank account from a public internet account.  That's what they're providing on the ship.  Or on shore, for that matter.

[TeeRick]

19 hours ago, Happy Cruiser 6143 said:

 

Well, this is all well and good, but there is NO WAY I would access my bank account from a public internet account.  That's what they're providing on the ship.  Or on shore, for that matter.

OK understood.  But you would only need to do that to transfer funds from your main account to your travel ATM account.  If funded properly in advance of the trip, no need for that step.

[MrsEmmaPeel]

21 hours ago, Happy Cruiser 6143 said:

 

Well, this is all well and good, but there is NO WAY I would access my bank account from a public internet account.  That's what they're providing on the ship.  Or on shore, for that matter.

We have a workaround for this, at least when in port or close enough to shore that our cell phones have coverage.  We always activate our cell phones for local use (we choose to buy SIMs either ahead of time or on arrival; we prefer ahead of time), so we just enable "portable hotspot" on our phone and connect to that when doing financial items.  That way, we're using the cell network, not the public wifi.  Not great for frequent use, but my wife uses it while travelling to check our financials every few days to ensure there's no odd charges, etc.

 

The other option would be to sign up for a VPN (Virtual Private Network) subscription - these encrypt your network traffic before it crosses the public wifi, and then decrypt it at a (presumably trusted) server run by the VPN company.  In that way, it would not matter if your network traffic was shown on a cable news ticker.  It is all heavily encrypted.  It is POSSIBLE that ship internet may block VPNs, but I have no experience with that as we never use ship internet.

 

Some other options...  But we also only cruise port-intensive itineraries.

 

[TeeRick]

On 7/24/2019 at 9:06 AM, MrsEmmaPeel said:

We have a workaround for this, at least when in port or close enough to shore that our cell phones have coverage.  We always activate our cell phones for local use (we choose to buy SIMs either ahead of time or on arrival; we prefer ahead of time), so we just enable "portable hotspot" on our phone and connect to that when doing financial items.  That way, we're using the cell network, not the public wifi.  Not great for frequent use, but my wife uses it while travelling to check our financials every few days to ensure there's no odd charges, etc.

 

The other option would be to sign up for a VPN (Virtual Private Network) subscription - these encrypt your network traffic before it crosses the public wifi, and then decrypt it at a (presumably trusted) server run by the VPN company.  In that way, it would not matter if your network traffic was shown on a cable news ticker.  It is all heavily encrypted.  It is POSSIBLE that ship internet may block VPNs, but I have no experience with that as we never use ship internet.

 

Some other options...  But we also only cruise port-intensive itineraries.

 

In the rare case where we need to access personal info on a cruise or trip like bank accounts, we only use cell phones on a cellular network and have them set up with two-step verification security measures.

[ShawninFL]

We've never exchanged money before we've left.  We always use our bank ATM card and withdraw cash from bank ATMs as we need it.  We also each bring our own card connected to separate accounts in case something goes wrong.  In the event a withdrawal transaction would not go through at one machine, we've just moved on to a different bank where it worked.

[tkline]

I went on a land tour to greece way back in '06, and back then, all I had to do was use my ATM card there, and it would give me euros. I didn't get any currency exchanged ahead of time. We were in Athens, Delphi and Kalambaka, and even the smaller towns we stopped in had ATMs around.

[Mike45LC]

On ‎7‎/‎21‎/‎2019 at 3:06 PM, Happy Cruiser 6143 said:

 

I don't carry all that cash around with me.  It stays in the safe until I need it.  On the plane, it lives in a money belt under my clothes.

Me too, but the TRSA screening did not like my money belt, which was almost completely cloth.  The two small d-rings on the belt were enough to trigger the sensors and earn me a pat down and swabbing.