Currency Exchange Suggestions for European Cruise

[CruisingNewb]

On a multi-country European cruise, what is the best way to go about having the correct currency for port days?

We have 4 countries while cruising and 3 countries after the cruise.  We will need pounds, francs, euros.

We intend to spend no more than $200 USD per port for snacks/street food only.  Excursions are paid for.

Ship's onboard currency exchange? Local ATM? Pre-order from bank?

[smokeybandit]

I'd rely on credit cards as much as possible. Otherwise, get some euros before you leave or use an airport ATM (from a real bank).

[CruisingNewb]

13 minutes ago, smokeybandit said:

I'd rely on credit cards as much as possible. Otherwise, get some euros before you leave or use an airport ATM (from a real bank).

People are telling me that for each country and for each transaction, a foreign currency rate transaction fee applies.  I did not have this issue with Japan or Korea.  Do you know if this is different in Europe?

[Woody14]

24 minutes ago, CruisingNewb said:

On a multi-country European cruise, what is the best way to go about having the correct currency for port days?

We have 4 countries while cruising and 3 countries after the cruise.  We will need pounds, francs, euros.

I would assume that 2 of the countries you are going to are the United Kingdom (pounds) and Switzerland (francs) - Switzerland will also accept the Euro they will likely give change in francs.  I would take a few pounds for my UK section and the rest just Euro's as pretty much all the rest of Europe takes Euros.

[HeWhoWaits]

21 minutes ago, CruisingNewb said:

People are telling me that for each country and for each transaction, a foreign currency rate transaction fee applies.  I did not have this issue with Japan or Korea.  Do you know if this is different in Europe?

Typically the foreign transaction fee is less than the conversion rate difference. Anywhere that takes a card is typically the best way to go.

[smokeybandit]

22 minutes ago, CruisingNewb said:

People are telling me that for each country and for each transaction, a foreign currency rate transaction fee applies.  I did not have this issue with Japan or Korea.  Do you know if this is different in Europe?

That all depends on your bank that issued the card. Mine doesn't have any foreign transaction fees.

[teddy]

Before we went to Europe last year we asked our credit union the best way to get Euros.  We were told to use an actual bank atm when we got to Europe (ie Bancomat not Euronet).  We asked at the B&B we stayed at pre cruise and the owner gave us directions to his bank, which had an atm right outside the entrance. 
 

While I forget how much the actual fee was, I do know it was low enough that my wife didn’t raise an eyebrow.  

[ChessE4]

1 hour ago, CruisingNewb said:

On a multi-country European cruise, what is the best way to go about having the correct currency for port days?

We have 4 countries while cruising and 3 countries after the cruise.  We will need pounds, francs, euros.

We intend to spend no more than $200 USD per port for snacks/street food only.  Excursions are paid for.

Ship's onboard currency exchange? Local ATM? Pre-order from bank?

I have found that your bank's atm fee added to foreign atm fee can be as much as pre-ordering currency. So what you do will vary with quantities and type of bank account.

[whitsmom]

We pre-ordered Euros from our bank and used credit cards when possible.  Our CC company did not charge foreign exchange fees. 

[Heymarco]

9 hours ago, ChessE4 said:

I have found that your bank's atm fee added to foreign atm fee can be as much as pre-ordering currency. So what you do will vary with quantities and type of bank account.

Thats not true at all if you do it the right way. There a few things to avoid if you want to get best rate.

1. Get a card with no foreign transaction fees, very common and easy to find these days.

2. When going to ATM or swiping card at store, always select local currency and never choose USD (conversion offers are always a scam at bad conversion rate, even though is looks familiar don't do it). Your bank will convert $ as close to actual conversion rate as you can get.

3. If taking cash, never choose ATM at airport or tourist area. As others stated, seek out bank that locals use. When withdrawing cash, don't forget tip #2

[Pattycruise]

I did this for 2 different trips

Bank for one trip

AAA for another.  I don’t recall why but I think AAA was the better buy.

[Traveling Mike]

This is what I did to make my travels easier... I am not saying it is for everyone or you should do it.

1. I opened a Charles Schwab Investor Checking account.  It comes with a high interest checking account and a brokerage account.  I use both of these to keep my vacation funds.  As long as there is money in these accounts I can vacation.  The checking account comes with a Visa Debit card that can be used at any ATM in almost any country.  Any ATM fees are automatically reimbursed to my account.  This allows me to get foreign currency when I get to any new country.  I can use the Visa card with no foreign fees.
2. I changed my phone to T-Mobile Magenta Max 55+ plan.  This gives me free Data and Text in almost any country.  I have not found a country that I do not get the data and text.  This allows me to use my phone for maps and google translate as soon as we hit a port or I land at the airport.