If you are going to be traveling to another part of the world, you might be wondering how you will pay for goods or services. Is it better to exchange currency prior to your departure, or should you wait to exchange it during your trip? Should you purchase travelers checks? What about credit cards? Is one enough, or should your bring two? Is it a good idea to bring your debit or ATM card? And what will the local currency be?
Most countries in Europe use the Euro; however, there are a few that do not – Bulgaria, Czech Republic, Hungary and Romania (as well as all of Scandinavia). Even though those countries have their own currencies, they still sometimes accept the Euro. In Europe most river cruise lines also accept euros and the U.S. dollar onboard.
During shore excursions, it’s best to carry euros in denominations of less than €100. Some businesses will not accept larger denominations due to counterfeiting.
Shifting to Asia, China, Myanmar, Cambodia, Vietnam, Thailand and Laos all have different currencies. The U.S. dollar is widely accepted in major cities in some of these countries, though. With regard to paying for goods or services with the U.S. dollar – the bills must be clean and in good condition with no tears or tape on them.
Euro coins and bank notes. Photo Courtesy of Wikipedia.
There are a few companies that offer limited currency exchange services on all or some of their ships. Otherwise, currency can be exchanged before you leave for your trip; or it can be exchanged at the airport after landing. A few other options for converting currency include money exchange offices, banks and hotels. Banks typically offer better exchange rates than hotels and other businesses.
Using Cards Abroad
ATMs can also be used to obtain local currency. Debit cards are popular in Europe, especially if they bear the Visa or MasterCard symbol. A foreign transaction fee between $1 and $5 may apply each time you use a debit card, though there are ways around this. Look for cards without foreign transaction fees. Nerdwallet, Credit Karma and Cardhub are good sources for researching such cards. If you plan to use your bank’s credit and debit cards, it’s a good idea to check with your financial institution to see what its rates are before you begin your trip.
While ATMs are readily available in most river cruise regions in Europe, they are not so plentiful in Southeast Asia outside the major cities. This is often the case in Vietnam, Cambodia and Myanmar.
Travelers checks are not universally accepted, particularly in Southeast Asia. Some river cruise companies will not accept them onboard for payment or currency exchange. They can be difficult to exchange for local currency, and their exchange rate is higher. The U.S. dollar is generally preferred to traveler’s checks.
Credit cards are one of the best ways to pay for goods and services while traveling. Major credit cards, such as American Express, MasterCard and Visa, are generally accepted worldwide as payment for goods and services. Some businesses may require a minimum charge in order to use your credit card.
There is one important thing to mention about using credit cards in Europe. Most European countries are using a new type of credit card technology, which requires a credit card that has a computer chip embedded in it rather than a magnetic strip on the back of the card.
These new credit cards are known as a smartcards or chip-and-PIN cards. The cards require the use of a PIN in order to make purchases. Some businesses will accept either type of credit card – the tradtional card with a magnetic strip that requires a signature or a smartcard.
If you are traveling to Europe and will be using a non-smartcard credit card (with a magnetic strip), ask your credit card company if they can provide you will a PIN for purchases while traveling.
While American Express, MasterCard and Visa are generally accepted throughout the world, Discover cards are not.
A few other things to note about using debit and credit cards while traveling. It’s a good idea to notify your financial institution(s) that you will be traveling abroad and when and where you will be going. This will help prevent a security block being placed on your card(s).
Another suggestion is to make a copy of the front and back of each card you will be bringing with you in case you need to report a misplaced, lost or stolen card. You might also want to check with your financial institution(s) to see what number you should call if you need to contact them while traveling. Most 1-800 numbers do not work on a toll-free basis outside the U.S.
River cruise companies vary with regard to how you can settle your shipboard account at the end of your trip and whether or not they exchange currency onboard. This also may vary according to destination.
AmaWaterways
Currency Exchange Onboard: Travelers Checks can be exchanged for local currency onboard for AmaWaterways’ river cruises in Europe.
Shipboard Account: Can be settled with euros or a major credit card at the end of your trip.
A-ROSA
Currency Exchange Onboard: Money cannot be exchanged onboard A-ROSA ships.
Shipboard Account: Can be paid with cash or traveler’s checks in euro currency or with one of the following credit cards – American Express, MasterCard or Visa.
Avalon Waterways
Currency Exchange Onboard: Limited currency exchange available on ships.
Shipboard Account:
Europe – can be paid with cash using euros or U.S. dollars, traveler’s check or with one of the following credit cards: American Express, Diner’s Club, Mastercard or Visa. There is a fee if traveler’s checks are used onboard.
China – can be paid with cash in U.S. dollars or yuans, travelers checks or most major credit cards.
Southeast Asia (Vietnam, Thailand and Laos) – can be settled with cash, MasterCard or Visa.
Myanmar – can be settled with cash, MasterCard or Visa. Traveler’s checks are not accepted.
CroisiEurope
Currency Exchange Onboard: No.
Shipboard Account: Can be settled with cash, American Express, MasterCard or Visa.
CroisiEurope does not accespt traveler’s checks.
Emerald Waterways
Currency Exchange Onboard: No.
Shipboard Account: Can be paid with cash (euro) or a major credit card.
Grand Circle
Currency Exchange Onboard: Yes, U.S. dollars can be exchanged for euros onboard based on exchange rate. Daily exchange is limited to $5o per person. Grand Circle will also provide change for larger denominations of U.S. dollars.
Shipboard Account: Can be paid with cash (euros or U.S. dollars) or major credit card.
Scenic Cruises
Currency Exchange Onboard: Small amounts of currency can be exchanged onboard at current exchange rates. A fee is charged for this service.
Shipboard Account: Can be paid with Eurocard, American Express, MasterCard or Visa.
Tauck
Currency Exchange Onboard: No.
Shipboard Account: Can be settled with one of these credit cards – American Express, MasterCard or Visa.
Uniworld
Currency Exchange Onboard: Limited currency exchange is available onboard for cash only.
Shipboard Account: Can be paid with cash (euro or U.S. dollar) or a credit card – American Express, MasterCard or Visa.
Viking River Cruises
Currency Exchange Onboard: No.
Shipboard Account: Can be settled in cash (euro, U.S. dollar or local currency) or with a crefit card.
Viking River Cruises does not accept travelers checks.
How Should You Handle Currency?
The answer to this question really depends on you. If you like to be prepared in advance, it’s probably a good idea to exchange currency before you depart for your trip.
On the other hand, if you’re someone who doesn’t worry about the small things, you’ll have plenty of opportunities to exchange currency – at the airport, banks, hotels, money exchanges and possibly onboard your ship. And you’ll also know that if you have a debit or ATM card and a major credit card, you should be covered in any situation.
River Cruise Advisor’s Ralph Grizzle travels in Europe extensively. He carries a few credit and debit cards, all with no foreign transaction fees, and a few hundred dollars in cash, both in euros and U.S. dollars. He also has his images of his credit cards, as well as contact info, in an encrypted file on his iPhone and backed up on his computer, just in case his cards are stolen or lost.
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