How much currency to bring?

[ddeprez]

I know this is majorly subjective, but my husband is a huge planner, so I’m asking for a “friend”, lol.   We will be doing the Mediterranean Odyssey cruise in May, with the Madrid extension, so every country we’re visiting uses Euros.  We would use credit cards for any major purchases, meals etc., but realize we’ll need Euros for tipping guides, small purchases, etc.  Do most taxis take credit cards?  He doesn’t want to use ATM’s once we’re there, so would just like to get opinions on what’s a reasonable amount to bring for 14 days. We’ll need to order them from AAA, and they don’t buy them back, so want don’t want to have too much left over.  Appreciate everyone’s time, and TIA! 

[OneSixtyToOne]

26 minutes ago, ddeprez said:

I know this is majorly subjective, but my husband is a huge planner, so I’m asking for a “friend”, lol.   We will be doing the Mediterranean Odyssey cruise in May, with the Madrid extension, so every country we’re visiting uses Euros.  We would use credit cards for any major purchases, meals etc., but realize we’ll need Euros for tipping guides, small purchases, etc.  Do most taxis take credit cards?  He doesn’t want to use ATM’s once we’re there, so would just like to get opinions on what’s a reasonable amount to bring for 14 days. We’ll need to order them from AAA, and they don’t buy them back, so want don’t want to have too much left over.  Appreciate everyone’s time, and TIA! 

We found Europe to be highly cashless, more so than the U.S. When we were on the Mediterranean Odyssey last year, we withdrew 500€ from an ATM and had trouble using it all. Many places took no cash. Almost all our cash transactions were tips. Our tipping is typically 2-5€ for the bus driver and 10-20€ for the tour guide, depending on the quality of the tour. At the end of our cruise, we also tip generously our cabin stewards and any other staff that have given exceptional service. They usually benefit from any excess cash.

 

Edited March 20 by OneSixtyToOne

[kctwinmommy]

55 minutes ago, OneSixtyToOne said:

 At the end of our cruise, we also tip generously our cabin stewards and any other staff that have given exceptional service. They usually benefit from any excess cash.

 

Good idea! We just ordered Euro's from our bank yesterday and got 1500 worth (we'll be there a month). But, that's partially because we know we need like 500 of that to pay for an excursion in person. We wanted to have some smaller amounts as needed. I know you said many places are cashless, which is fine too. Just good to know we could use it to tip our stewards at the end as well.

[Breckski]

I know you stated that you do not want to use ATM's, but we've found that they are the most convenient way to get local currency, and we've always received descent exchange rates.  Also, most local banks will get euros for you if you want to get some in advance.  I'd imagine your local bank would be easier than going through AAA.

[SantaFe1]

31 minutes ago, mwike said:

I'd imagine your local bank would be easier than going through AAA.

And cheaper!  Especially if you have an elite account with them.

[ddeprez]

1 hour ago, mwike said:

I know you stated that you do not want to use ATM's, but we've found that they are the most convenient way to get local currency, and we've always received descent exchange rates.  Also, most local banks will get euros for you if you want to get some in advance.  I'd imagine your local bank would be easier than going through AAA.

We use a local credit union, and they no longer offer foreign currency! Crazy, huh??  

[Mich3554]

We pretty much exclusively use ATMs to get local currency.  Since we have been traveling, I have kept track of what we receive vs what the bank charges us and it is very close to what the actual exchange rate is (provided you don’t do the idiot move I did the first time and accept the ATM’s conversion rate……lesson learned!).  
 

Towards the end of the trip, we try to use up remaining cash.  We probably have about 2,000,000 rupiahs left (little over $100).  We will probably use a good chunk to help pay the hotel charges we made when we check out tomorrow.

 

As to what we take out, in Europe we usually take out 200€ for a couple weeks.  We split it between us, as we don’t always go in the same direction.

Edited March 21 by Mich3554

[sharkster77]

Also when you pay by credit card, you have a choice of paying in local currency or your own.  Always choose local---let your bank/credit card company do the conversion, they will give you a better rate than the vendor's bank.

 

We started travelling internationally 7 years ago---we find that we need much less cash on hand than when we started---COVID accelerated the move to mostly cashless societies--Europe is more cashless than here in the US.

Edited March 21 by sharkster77

[Peregrina651]

2 hours ago, ddeprez said:

We use a local credit union, and they no longer offer foreign currency! Crazy, huh??  

 

Not crazy if it saves the CU money to discontinue the service.

 

6 hours ago, ddeprez said:

so would just like to get opinions on what’s a reasonable amount to bring for 14 days.

 

Start by figuring out how much you are going to need for tips for tours. That is the minimum amount to bring. Next thing to decide is whether it is better underestimate how much cash you will need or overestimate.

 

If you are planning on traveling to Europe again, then bringing home some euro shouldn't be a problem.  We keep a minimum of 100€ on hand so that we don't have to worry about stopping in the airport.

 

I know you said no ATM but I am going to open my big mouth and make a suggestion that you are welcome to ignore. Take baby steps towards ATM usage (if nothing else, you have access in case of emergency (like cash stolen)). Go to AAA for euro but plan to make one visit to an ATM on this trip.  Call it a practice run.

 

But first, to protect your nest egg, you want a dedicated travel account with its own debit/ATM card (or better yet, a card for each of you).

 

• Open a sub-account at the CU. (I use a CU and had no trouble doing this).
• Ask that it have its own debit card that is not attached to any of the other accounts that you already have.
• Ask them to set it up as an ATM-only card. (If they can't figure it out, ask them to set the purchase limit to $0). Set the daily withdrawal rate to $150.
• Put $500 in the account.

 

When you get to Madrid, go to a nearby bank with an ATM in the lobby. Take out 50 or 100€. When you get home, you can compare the two methods.

 

And if you are staying at the Intercontinental (near the US embassy) in Madrid, go visit the Sorollo Museum. It is just around the corner and it just lovely, small and intimate.

 

 

 

[CDNPolar]

Good advice from all.

 

But... we would never use an ATM anywhere but home unless we were in dire need.

 

We calculate what we need daily for tips on excursions and take a bit above that.

 

We only take daily the tip money we need and the rest is in the safe on the ship.

 

Basically, if a credit card is not accepted we don't buy or eat there.

 

We bring nothing home with us.  We don't bring gifts for family or friends and we don't collect or buy anything for ourselves, so we don't need cash for anything other than tips.

[KBs mum]

We take £100 of local, and cards. The cash is just a backup, we usually have most of it left, so we keep it for next time or exchange it for the next currency we need. 

Can allways use a cash machine in a bank if not keen on independent ATMs. 

Lots of places now prefer cards, cash is a hassle to bank and to keep a change float. 

Don't worry about tips, most of Europe hasn't got a tipping culture, it is OK not to, if you haven't got any change or were underwhelmed. Most people on the excursions know this and won't tip

[duquephart]

Enough of local currency to offer suggested tips to local guides and drivers and maybe small incidentals. We're calling it equivalent of $10 per day.

[sharkster77]

We're the opposite of what some have described---we NEVER use an ATM at home, but have Capital One accounts with debit cards strictly to get currency abroad.  We get about 100-200 euros/pounds/etc. at the start and often get by for 10 days with just that.  If we need more we'll get a little more from an ATM.  Much easier than trying to predict from home how much we'll need for an entire trip beforehand.  As I mentioned in an earlier post, withdraw funds in the local currency--let YOUR bank at home do the conversion, usually in your favor.

 

Similarly we have 2 credit cards with no foreign transaction fees--we use these abroad, and leave any other cards at home.

[longterm]

For a cruise a few years ago, I ordered euros from our local Chase bank; not only did it take a week to become available, but the bank charged a ridiculous exchange rate and "convenience" fee. Never again.

 

Since that trip, we never get foreign currency ahead of time; when arriving in our first city, I will find an ATM at a bank--not at the airport, never a non-bank ATM--and get $300-500 in euros, which usually lasts throughout the trip. On the ship, I break the larger bills for tipping, and try to use my debit card wherever possible.

 

The other thing that I like in Europe, and which is different from here, is that when you pay with a card in a restaurant, the server doesn't disappear in the back with your card; they almost always use handheld card swipers right at the table, usually of the touchless variety, so that your card never leaves your hand. 


 

[allyg]

Our Capital One card charges a foreign transaction fee so check to see if yours does as well.  Our bank card does not so that is the one we use. I tip cabin stewards and those who have been especially helpful to us in  USD— not sure if that’s the best but assume they have the ability on Viking to change their money to what works for them— I may be wrong. So glad countries are going mostly cashless.

[LindaS272]

I don’t know if this will help the OP, but we use a Schwab Bank card for ATMs worldwide—they reimburse the onerous ATM bank fees. We will usually get local currency at the airport on arrival. We haven't purchased travel currency at our home bank in maye 35 years. 

[CDNPolar]

17 minutes ago, longterm said:

 

 

The other thing that I like in Europe, and which is different from here, is that when you pay with a card in a restaurant, the server doesn't disappear in the back with your card; they almost always use handheld card swipers right at the table, usually of the touchless variety, so that your card never leaves your hand. 


 

 

I would never let a server take my card from the table.  In Canada, the server has brought the machine to the table for years and years.  

 

I was in the US late last year and the server started walking with my card and I stopped them and insisted that if they wanted payment I was coming with them.  They did not seem to have a problem with that.

[ddeprez]

OP here- thanks to everyone for all the helpful advice! We haven’t traveled to Europe since pre-pandemic days, and those were land based tours, so a different experience from cruising. We needed to have more currency on hand for those trips, so wasn’t really sure what to expect with this. Glad to hear from everyone on how their experience has changed post pandemic, and we can plan from there. Thanks again! The CC crowd is the best!

[Breckski]

5 hours ago, CDNPolar said:

 

But... we would never use an ATM anywhere but home unless we were in dire need.

 

 

Why this mindset?  It looks like home equates to Canada.  Why are only Canadian ATM's acceptable/safe? 

 

Is it you don't trust the bank in other countries?  I would certainly trust Banco Santander as much as RBC.

 

Or you don't trust the citizens of other countries as much as folks in your area due to an increased risk of them physically stealing the cash after you withdraw the funds?

 

To me, the comment sounds like my father who lives in a rural area in North Carolina.  But he'd alter the comment to:  "we would never use an ATM".  He physically goes into the bank to withdraw $100 essentially.  The reason for him is fear of tech which is sad to me as the world is passing him by in many ways.  But I guess this will happen to most of us if we live long enough.  

 

[Breckski]

18 hours ago, ddeprez said:

I know this is majorly subjective, but my husband is a huge planner, so I’m asking for a “friend”, lol.   We will be doing the Mediterranean Odyssey cruise in May, with the Madrid extension, so every country we’re visiting uses Euros.  We would use credit cards for any major purchases, meals etc., but realize we’ll need Euros for tipping guides, small purchases, etc.  Do most taxis take credit cards?  He doesn’t want to use ATM’s once we’re there, so would just like to get opinions on what’s a reasonable amount to bring for 14 days. We’ll need to order them from AAA, and they don’t buy them back, so want don’t want to have too much left over.  Appreciate everyone’s time, and TIA! 

One other thing.  Once you start spending the euro's, covet the 2-euro coins and small notes.  In any country we travel we always hoard & cherish the smaller denominations for tipping reasons.  Most ATMs or banks we've used in the past essentially give you $20 equivalents or higher which are essentially useless for a tourist mainly using their CC.

[CDNPolar]

23 minutes ago, mwike said:

 

Why this mindset?  It looks like home equates to Canada.  Why are only Canadian ATM's acceptable/safe? 

 

Is it you don't trust the bank in other countries?  I would certainly trust Banco Santander as much as RBC.

 

Or you don't trust the citizens of other countries as much as folks in your area due to an increased risk of them physically stealing the cash after you withdraw the funds?

 

To me, the comment sounds like my father who lives in a rural area in North Carolina.  But he'd alter the comment to:  "we would never use an ATM".  He physically goes into the bank to withdraw $100 essentially.  The reason for him is fear of tech which is sad to me as the world is passing him by in many ways.  But I guess this will happen to most of us if we live long enough.  

 

 

We don't use ATM's at home except in very unusual circumstances.  We use credit cards for everything and if they vendor or restaurant does not accept credit cards, then we don't shop or eat there.

 

It is not a distrust, but we also don't travel with our bank cards.  We only travel with credit cards.  Even if we wanted to we would not have a bank card to use in the ATM.  Using our Credit Card in an ATM would constitute a cash advance where we have a charge to do so plus interest from the date of the transaction.

 

No fear of tech here.  Not only do I work with cutting edge tech daily in my job, our home is almost completely "smart" with everything voice controlled or controlled by our phones.  Tech is not the issue.

 

I just don't remember the last time I had $20 cash in my wallet.  We don't work in cash.

 

We have cash for tips but will leave the ship with 5-10 Euros in our pocket for that purpose and we buy the Euros at home from our bank before leaving.  We travel to Europe so often it is not a concern if we return home with Euros.

[sharkster77]

3 hours ago, allyg said:

Our Capital One card charges a foreign transaction fee so check to see if yours does as well.  Our bank card does not so that is the one we use. I tip cabin stewards and those who have been especially helpful to us in  USD— not sure if that’s the best but assume they have the ability on Viking to change their money to what works for them— I may be wrong. So glad countries are going mostly cashless.

Hmmm, we have a Capital One Venture card that doesn't have foreign transaction fees.  Which card do you have?

[Breckski]

6 hours ago, CDNPolar said:

It is not a distrust, but we also don't travel with our bank cards.  We only travel with credit cards.  Even if we wanted to we would not have a bank card to use in the ATM.  Using our Credit Card in an ATM would constitute a cash advance where we have a charge to do so plus interest from the date of the transaction.

 

Gotcha.  Thanks for the response.  I assumed distrust when you said that you wouldn't use and ATM away from home.  We're working with our parents on true distrust issues, or at least issues how I view things.

 

And if mainly traveling to Europe, it's much easier to get by without using an ATM.  In less developed countries, we've found ATM's are the only viable and economical option.

[CDNPolar]

12 hours ago, mwike said:

 

 

And if mainly traveling to Europe, it's much easier to get by without using an ATM.  In less developed countries, we've found ATM's are the only viable and economical option.

 

I hear you on the less developed countries and we have talked about the potential need to take our ATM cards.  

 

 

[allyg]

Capital One Quicksilver — you are right— no foreign transaction fee. Think we had a different one in the past. Although that is not the card we generally use, it’s good to know we can when traveling. Thanks.