P, E, O, P, L, E - LET'S CONTINUE WITH PREPARATION-
CURRENCY, CREDIT & ATM BANK CARDS
OBTAINING LOCAL CURRENCY & USING BANK CREDIT AND ATM CARDS
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People frequently ask questions about how much money to bring with them when they travel, how to obtain foreign currency and about the use of Credit and ATM Cards.
We believe that it is best to error by having too much money on-hand rather than too little should an emergency come up.
The good news is that on-board your cruise the cruise lines pretty much work with a cashless system is that pretty much all of your purchases are charged to your shipboard account which, in turn, is charged to your credit card which is on file with the cruise line.
In terms of cash for the actual cruise, you will need some local currency for the porters who take your luggage when you arrive to the cruise ship terminal as well as cash for the porters should they assist you with your luggage on the day you disembark the ship and have to take your luggage from the cruise ship terminal to the transportation which will take you to wherever you are going at the conclusion of the cruise. Should you wish to give a cash tip while on the cruise you can use money from your own home country but tipping is mainly done via the shipboard account other than maybe a cash tip for room service. Of course you might need cash for tips at the hotel you are staying at and or purchases in port at places where you don't want to charge them on a credit card. You might also need cash for any private tours you've booked unless you have already paid them in advance or can pay them with a credit card.
There are different ways to obtain foreign currency but these are the three most popular methods.
To keep current with local conversion rates we use an exchange rate calculator. This is one that is available via the internet: http://www.oanda.com/currency/travel-exchange-rates
You can also obtain it as an app for your Smart Phone.
If you need foreign cash as soon as you arrive to a country and are concerned with getting to an ATM or to a Money Exchange Store you can obtain foreign cash from most large banks in your own country. It usually takes two to three business days to obtain the money. The rates are not as optimal as obtaining the cash in-country but in the scheme of things if you are only talking about a few hundred dollars it's really not a big deal.
Another method is to obtain the money at say an airport money exchange store. Again the rate is not optimal but it is convenient. Likewise, you can wait till you arrive to the country and obtain it from their airport money exchange store or one of many exchange stores that you will likely see during your visit.
We have found that the most optimal exchange rate when obtaining foreign cash is via an ATM Machine in the country you are visiting.
Be sure to contact your ATM (Debit) Bank Card Company before you leave home to give them your travel dates so they don't think this is fraud on your account and you can find out the daily limits as to how much cash you can withdraw each day. There might be a transaction fee added on by the in-counrty ATM bank.
Wherever possible, we have found that the most optimal exchange rates can be obtained on purchases made with a credit card. Wherever possible, we try to use a credit card. Exceptions are for small purchases and in locations that we might have a concern about fraud but overall the majority of our purchases are done via a credit card.
We recommend getting a credit card that does not charge you a foreign transaction free for your credit card purchases and we recommend bringing two to three or more credit cards with you. Do not rely solely on one credit card because should there be fraud on the credit card and the card has to be shutdown you would be without a credit card.
As was the case with the ATM Bank Card, you should notify each of the Credit Card companies with your vacation plans and contact information as they might think your purchases are fraud related.
Next we will discuss dealing with mail when away from home.
We believe that it is best to error by having too much money on-hand rather than too little should an emergency come up.
The good news is that on-board your cruise the cruise lines pretty much work with a cashless system is that pretty much all of your purchases are charged to your shipboard account which, in turn, is charged to your credit card which is on file with the cruise line.
In terms of cash for the actual cruise, you will need some local currency for the porters who take your luggage when you arrive to the cruise ship terminal as well as cash for the porters should they assist you with your luggage on the day you disembark the ship and have to take your luggage from the cruise ship terminal to the transportation which will take you to wherever you are going at the conclusion of the cruise. Should you wish to give a cash tip while on the cruise you can use money from your own home country but tipping is mainly done via the shipboard account other than maybe a cash tip for room service. Of course you might need cash for tips at the hotel you are staying at and or purchases in port at places where you don't want to charge them on a credit card. You might also need cash for any private tours you've booked unless you have already paid them in advance or can pay them with a credit card.
There are different ways to obtain foreign currency but these are the three most popular methods.
To keep current with local conversion rates we use an exchange rate calculator. This is one that is available via the internet: http://www.oanda.com/currency/travel-exchange-rates
You can also obtain it as an app for your Smart Phone.
If you need foreign cash as soon as you arrive to a country and are concerned with getting to an ATM or to a Money Exchange Store you can obtain foreign cash from most large banks in your own country. It usually takes two to three business days to obtain the money. The rates are not as optimal as obtaining the cash in-country but in the scheme of things if you are only talking about a few hundred dollars it's really not a big deal.
Another method is to obtain the money at say an airport money exchange store. Again the rate is not optimal but it is convenient. Likewise, you can wait till you arrive to the country and obtain it from their airport money exchange store or one of many exchange stores that you will likely see during your visit.
We have found that the most optimal exchange rate when obtaining foreign cash is via an ATM Machine in the country you are visiting.
Be sure to contact your ATM (Debit) Bank Card Company before you leave home to give them your travel dates so they don't think this is fraud on your account and you can find out the daily limits as to how much cash you can withdraw each day. There might be a transaction fee added on by the in-counrty ATM bank.
Wherever possible, we have found that the most optimal exchange rates can be obtained on purchases made with a credit card. Wherever possible, we try to use a credit card. Exceptions are for small purchases and in locations that we might have a concern about fraud but overall the majority of our purchases are done via a credit card.
We recommend getting a credit card that does not charge you a foreign transaction free for your credit card purchases and we recommend bringing two to three or more credit cards with you. Do not rely solely on one credit card because should there be fraud on the credit card and the card has to be shutdown you would be without a credit card.
As was the case with the ATM Bank Card, you should notify each of the Credit Card companies with your vacation plans and contact information as they might think your purchases are fraud related.
Next we will discuss dealing with mail when away from home.
