Euros/ATM question...

[dis2cruise]

Going on the edge soon quick question about ATM machines on the ship...

Is it better to get my euros from the ships atm or go to a bank near a port.  What would give the best rate.  Also, with my debit card my bank reverses any fees I may Encounter.

[Wine-O]

5 minutes ago, dis2cruise said:

Going on the edge soon quick question about ATM machines on the ship...

Is it better to get my euros from the ships atm or go to a bank near a port.  What would give the best rate.  Also, with my debit card my bank reverses any fees I may Encounter.

It is always better to get your Euro from a Bank ATM with your debit card.  You get the Interbank rate for the time of transaction.  🍷

[Fouremco]

Definitely get your euros from a bank atm. Bear in mind that you can use your credit card for the vast majority of expenses and won't need much cash. For a two-week European cruise this summer, about the only thing we used cash for was tips for tour guides.

[Ravbo]

Ships ATM only dispenses US dollars.

[TeeRick]

On European based cruises Celebrity usually has an ATM for USD and an ATM for Euro on board.  If you use the ATM for Euro's there is no additional exchange rate fee up front- just with your own local bank at home in Canada.  This would also be the case with an ATM in port. Your debit card probably does not charge a foreign transaction fee but check with your bank.  The usual ATM  terminal transaction fees are more on the ship but if your bank reverses them anyway you are good to go.  Credit cards are a different story.  Use one with no foreign transaction fees and get the best daily exchange rate on your purchases.  But you will be charged for cash advances on a credit card.  Lastly, if you decide to exchange cash on board in Guest Services or in the casino,  it will be the most expensive option as you will be charged Celebrity's exchange rate which is not optimal.  There is another option.  Carry along a prepaid VISA card.  Like using traveler's checks in the old days.

[Fouremco]

9 minutes ago, Ravbo said:

Ships ATM only dispenses US dollars.

That's not the case for European cruises.

[Wine-O]

Just a word of caution, I've noticed that ATM's are now offering you the option to convert your Euro withdrawal into USD.  Always say NO and let your home bank do the conversion.  If you let the ATM do the conversion, it will cost you around 3.5%.  Also, on your credit card purchases, don't let them do the conversion for you.  Some merchants will ask if you would like them to do the conversion -- always say NO and let your bank/credit card do the conversion, or it will cost you around 3.5%.  Be cautions, because some merchants will do the conversion and not let you know.  It's called DCC or Dynamic Currency Conversion.  They are supposed to ask you and give you the option, but some of them don't.  Google it.  🍷

[TFree]

12 minutes ago, Wine-O said:

Just a word of caution, I've noticed that ATM's are now offering you the option to convert your Euro withdrawal into USD.  Always say NO and let your home bank do the conversion.  If you let the ATM do the conversion, it will cost you around 3.5%.  Also, on your credit card purchases, don't let them do the conversion for you.  Some merchants will ask if you would like them to do the conversion -- always say NO and let your bank/credit card do the conversion, or it will cost you around 3.5%.  Be cautions, because some merchants will do the conversion and not let you know.  It's called DCC or Dynamic Currency Conversion.  They are supposed to ask you and give you the option, but some of them don't.  Google it.  🍷

Excellent advice.  I had to figure it out some trips ago, and actually tested it to verify that the same ATM transaction costs me more if I let the local bank do the conversion, as opposed to my US bank.  The question is sometimes asked in different terms, but just remember that you always want to pay or be charged in local currency (Euros in this case) not in dollars.

 

Tom & Judy

[Jim_Iain]

10 hours ago, TFree said:

Excellent advice.  I had to figure it out some trips ago, and actually tested it to verify that the same ATM transaction costs me more if I let the local bank do the conversion, as opposed to my US bank.  The question is sometimes asked in different terms, but just remember that you always want to pay or be charged in local currency (Euros in this case) not in dollars.

 

Tom & Judy

Agree 100%.    Last cruise it showed me the amount in USD and I used Local Currency instead.   I have alerts setup on my bank accounts and within seconds I saw the transaction in USD come through my credit card.   It was about 3% better than the ATM offered.

[NantahalaCruiser]

13 hours ago, TeeRick said:

Lastly, if you decide to exchange cash on board in Guest Services or in the casino,  it will be the most expensive option as you will be charged Celebrity's exchange rate which is not optimal.

True

 

However, Guest Services is a great place to exchange any leftover foreign currency back to USD - although it's not a great exchange rate, it's easier and cheaper than trying to do so with your bank when you get back home.

[Miaminice]

6 hours ago, NantahalaCruiser said:

True

 

However, Guest Services is a great place to exchange any leftover foreign currency back to USD - although it's not a great exchange rate, it's easier and cheaper than trying to do so with your bank when you get back home.

 

Or just use it as extra tips! The crew are happy with Euros and USD.

[vickykay]

Also when using your credit card for purchases or restaurants, if they ask if you want to convert to dollars, decline as the rate usually is not very good.  

[dis2cruise]

Thanks a bunch for all your info!  

[TeeRick]

9 hours ago, NantahalaCruiser said:

True

 

However, Guest Services is a great place to exchange any leftover foreign currency back to USD - although it's not a great exchange rate, it's easier and cheaper than trying to do so with your bank when you get back home.

Easier yes- but not sure if it is cheaper than your bank at home.  But banks are different so need to check with them in advance. Celebrity charges exorbitant fees to change money both ways.  And they do not have or take all currencies.  But they will definitely exchange dollars and euros if you don't mind paying their fees.  I usually try to spend everything or I like the idea of using the extra for tips too.  With Euro's I will sometimes just bring them home and use for a future trip to Europe (my favorite option!).

[GeorgesGal]

TeeRick, that is what we always do - bring the excess home to use on the following year's fall European trip!

[ghstudio]

We keep at least $100 worth of Euros and Pounds in fact we often stop at an ATM at the last port to make sure we have enough for our next trip.  We know enough folks that travel that we can always "sell" them currency at the current published rate when they buy it. 

 

We have also accumulated $15 in Reflection casino chips and $2.50 in Constellation casino chips...but that's not intentional 🙂 

Edited August 24, 2019 by ghstudio

[TeeRick]

On 8/24/2019 at 11:01 AM, GeorgesGal said:

TeeRick, that is what we always do - bring the excess home to use on the following year's fall European trip!

Yes I always try to keep Euro's for the next trip too.  But my son has been going to Italy and other EU countries on business and knows about my stash!  He is always "borrowing" some from me.

[GeorgesGal]

2 hours ago, TeeRick said:

Yes I always try to keep Euro's for the next trip too.  But my son has been going to Italy and other EU countries on business and knows about my stash!  He is always "borrowing" some from me.

 

Tell him you'll put him up for adoption if he keeps that up!

[karli_ratte]

Don't rely on the onboard ATM dispensing Euros. We returned 2 weeks ago and I wanted to get some extra Euros for tipping our waiter in the MDR (I'm a cashless person, so I never carry much money around with me). The ATM for US$ worked just fine, but the ATM for Euros didn't. I was not happy that I had to tip in $, when the ship would be cruising through Europe for another couple of months… I'm sure staff appreciates the local currency more for extra spending money rather than having to exchange it again. 

So do get your Euros in one of your ports of call and don't rely on the ship's ATM. Also, the ATM operator double charged me, despite me selecting for my bank to convert from $ into Euros (my home currency), which my bank did. I was very disappointed that the ATM would not be better maintained on a European cruise. 

[TeeRick]

5 hours ago, karli_ratte said:

Don't rely on the onboard ATM dispensing Euros. We returned 2 weeks ago and I wanted to get some extra Euros for tipping our waiter in the MDR (I'm a cashless person, so I never carry much money around with me). The ATM for US$ worked just fine, but the ATM for Euros didn't. I was not happy that I had to tip in $, when the ship would be cruising through Europe for another couple of months… I'm sure staff appreciates the local currency more for extra spending money rather than having to exchange it again. 

So do get your Euros in one of your ports of call and don't rely on the ship's ATM. Also, the ATM operator double charged me, despite me selecting for my bank to convert from $ into Euros (my home currency), which my bank did. I was very disappointed that the ATM would not be better maintained on a European cruise. 

This happened once to me.  The ATM was down near the end of the cruise when I wanted cash for tips.  Since it was a ship ATM, I went to Guest Services and they gave me a no-fee cash advance charged on my main account.