Canadian $ Conversion Confusion

[westcoaster]

I just had a US$ charge come through on my credit card and the exchange rate (including the card's exchange fee) was 1.207, so 1.15 is a good deal right now. I don't think Princess sets fixed exchange rates on cruise pricing to make money per se. Right now, they are actually making less money off those paying in Cdn dollars than those paying in US dollars, and that has been even more the case in some years in the past. Because they put out brochures with Cdn dollar pricing, they have to forecast what the exchange rate is going to be, then lock in the pricing. Although last year's brochure rates were set using a rate of 1.25, they did actually lower their Cdn dollar prices part way through the year, and have been quoting prices using the 1.15 rate at least since November.

 

As for the shipboard accounts. I would imagine they must use a floating exchange rate for those, although I always check the box and am billed in US dollars which my credit card then converts using its rate, so I can't say for sure.

[Mitchum]

I work for one of the big 5 banks and I bought USD the other day, at my staff rate, and paid around 1.17. So 1.15 sounds ok. Mind you, then you have the 3% on top. I've read another thread a while back about this and decided at that time that I'm just going to bring cash and traveller's cheques with me and pay my account the night before.

 

I have ticked the little box on my form anyway. I've read that if you don't want to give a credit card, then you need to give them a rather large cash deposit. So I'll leave my credit card info on the form, but then just settle up in cash/TC towards the end of the cruise. If there are any incidentals the last night, it won't be a significant enough amount to make much difference...regardless of how they charge it to my card.

 

This is my first cruise, so I'm learning as I go. This forum has been an IMMENSE help!

 

Michelle

[mississauga]

I work for one of the big 5 banks and I bought USD the other day, at my staff rate, and paid around 1.17. So 1.15 sounds ok. Mind you, then you have the 3% on top. I've read another thread a while back about this and decided at that time that I'm just going to bring cash and traveller's cheques with me and pay my account the night before.

 

I have ticked the little box on my form anyway. I've read that if you don't want to give a credit card, then you need to give them a rather large cash deposit. So I'll leave my credit card info on the form, but then just settle up in cash/TC towards the end of the cruise. If there are any incidentals the last night, it won't be a significant enough amount to make much difference...regardless of how they charge it to my card.

 

This is my first cruise, so I'm learning as I go. This forum has been an IMMENSE help!

 

Michelle

 

The 15% rate is for payment for the cruise only. The 3% conversion does not apply. For on board charges, they are using whatever the going rate is plus the 3% conversion rate. I just received an email from someone who is presently on the Golden and the exchange rate is 29% :( right now. So yes, pay off your balance using your US dollars/TC or USD credit card ( while on board )