Currency exchange on board?

[moveup]

We're taking a Mediterranean cruise on MSC out of Genoa. We will need some Euros (and Turkish lira) for taxis, etc. at the ports of call. Does anyone have experience with changing money at the purser's office, and if so are the exchange rates (and any fees) fair compared to using an ATM? I've heard horror stories about ATM fees abroad, which apparently are not disclosed on the ATM so you don't know until you get your bank statement what the exchange rate and various fees were.

[paul929207]

The rates on the ship are not great. (Everything is a profit center on today's ships.) However, for small amounts, it will not make much difference.

 

For ATM's, check with your bank, they vary on charges. Generally, you want to make one large ATM withdrawal rather than a lot of small ones.

[WatchHill]

Which cruise line? We were on the Dream this month, Dover to Barcelona, and NCL charges an additional $7. per transaction fee. Best bet is to use an ATM ashore as I did, and had no problems with rates or additional fees.

 

Darcy

[wecruiz]

We were on a cruise with Celebrity this summer in the Greek Islands. I had heard the same horror stories and had gotten $$s from our bank in the US before we departed. Now I grant you that banks do not have a great reputation for easy or cheap exchange rates, but I kept checking the international exchange rates online and in the newspaper. Our bank charged $1.43 per euro + a on-time transaction fee. When we got on board the Galaxy I checked the exchange rate and it was $1.43 per euro, with no tranaction fee. That was during the Aug - Sep 07 time frame. You decide.

[I Am Canadian, Eh]

Might want to try a prepaid Travel Money card. Allows you to withdraw at an ATM in local currency, without many of the surcharges.

 

http://usa.visa.com/personal/cards/prepaid/visa_travel_money.html

 

Downside is that you have to pre-load it, but might save you some hassles...

[chasetf]

Portside ATMs are the way to go. The ships we have been on (Princess mostly) have onboard ATMs that charge outrageous rates and a fee on top. We always hit one in the airport when we arrive. Forget getting money from a US bank.... not worth the trouble as far as I am concerned.

 

Stay away from those Travelex desks too.... I have seen buy and sell rate swings of 15-20%. (plus the fee).

 

Another thing I do is keep my extra cash after the trip instead of selling it back. That way.... on the next trip I will at least have taxi fare and some money to get something to eat. ;)

 

My feeling is why get burned on the buy / sell / buy. Plus.... my euros, Canadian $s and pounds have inceased in value since I bought them. :D

[Keith1010]

This question comes up very often and you will get many answers.

 

Our expreience is that the best rate is to use your ATM card. Be sure to call your ATM company before your trip to let them know the dates of your travel and where you are going so that they don't think these transactions involve fraud on your card. Do likewise for credit card purchases.

 

As an FYI, the best card for credit card purchases aboard is the one by Capital One. They don't charge you the added fees that most other credit card companies charge related to the exchange rate.

 

Keith

[laidbackdude]

Indeed, a prepaid travel card is your best bet!