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Thread: Exchange rate and currency advice

  1. #1
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    Exchange rate and currency advice

    Hello all! My husband and I are planning our first trip to Aruba. We are extremely excited, but have questions regarding currency and the best way to spend/ save. I spoke with my bank (chase) and was told that there is a 5.00 fee for ATM withdrawl + the exchange rate fee. How does this work out in the end for everyone else? Also, does the bank charge an exchange rate fee every time you use your debit?? The last time I traveled outside the US was to Mexico and over ten years ago, so any advice would be greatly appreciated!!
    Happy travels to all

  2. #2
    Senior Member danadog56's Avatar
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    the exchange rate is $1.00us = 1.77f (florins). You do not have to exchange money, they take us dollars everywhere and are very good about making correct change. Sometimes change is given back in florins but bills are given back in dollars
    I cant speak to your credit cards, but since 2 years ago all my credit card companies are now charging a foreign exchange fee.....not even sure what the rate is, I would check with yours to see if there is a difference in the amount.
    ARUBA....HOME AWAY FROM HOME

  3. #3
    Aruba since 1979
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    Andrea J.'s Avatar
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    Welcome to the aruba. Com forum.

    US$ accepted most everywhere

    No need to exchange

    ATMs dispense in dollars or florins
    Quote Originally Posted by rachelg8 View Post
    Hello all! My husband and I are planning our first trip to Aruba. We are extremely excited, but have questions regarding currency and the best way to spend/ save. I spoke with my bank (chase) and was told that there is a 5.00 fee for ATM withdrawl + the exchange rate fee. How does this work out in the end for everyone else? Also, does the bank charge an exchange rate fee every time you use your debit?? The last time I traveled outside the US was to Mexico and over ten years ago, so any advice would be greatly appreciated!!
    Happy travels to all

  4. #4
    Senior Member SanNic44's Avatar
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    Most credit cards are now pounding customers with those foreign exchange fees. Also, not the "exchange rate" on the street is 1.75 florins to the dollar. You'll find this at gas stations etc. because the math is much easier. Here's a little video showing you the exchange rate and the florin notes and coins.

    http://m.youtube.com/watch?v=GUOwxfYVQZs

    Hope that was helpful. Enjoy your visit.

    44
    Aruba's Novelist in Residence (sometimes)
    http://www.bentpage.wordpress.com/

  5. #5
    Senior Member AndyM's Avatar
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    Bring cash with you rather than using ATMs in Aruba.
    Use your credit card everywhere possible and pay cash for flea markets and cabs/buses. Just about every restaurant, store and car rental company charges your card in US Dollars so there is no currency conversion fee.

    No need for travelers checks as far as I'm concerned.

  6. #6
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    Thank you all!! Much appreciated- I spoke with my bank (chase) and their fees are pretty hefty so I was actually thinking of obtaining a second account with Charles Schwab as they charge no ATM fees worldwide. Thanks again!!

  7. #7
    Senior Member AndyM's Avatar
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    Rachel, you really don't need a lot of cash on the island.

  8. #8
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    We always use to use Capitol one as they were the only card that did not charge a fee when out of the country. As in Italy Greece etc. When in Aruba I used my debit card and there was no charge on my statement. You will be fine. Bring little cash.

  9. #9
    Senior Member Traceyd14's Avatar
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    Just my opinion, but I don't mind paying the atm fees sometimes. Depending on how much cash you decide to bring, it may be worth the security of not carrying it all with you at once. We like to visit the casinos and use cash for smaller purchases from vendors. We bring a set amount cash with us and of that we usually have $200 broken down in $10, $5, and $1s for ease of tipping, cabs, small purchases from vendors. I feel very safe traveling in Aruba, but I would rather not have all of my cash on me at once while travelling to my destination and prior to being settled into a room with a safe. That goes for any destination and even my home airport. I would rather pay the ATM fees later in the week if we decide we need more cash, the security is worth the fees to me.

    We use credit for most restaurants and excursions.
    Not sure when, but we will be back

  10. #10
    Senior Member CPhT Nancy's Avatar
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    Our credit union gives free AMEX traveler's checks, so we usually get $500 of that for backup. They are easily cashed at the casinos. We usually don't use them, but feel safer than having $500 in my pocket.
    If you put some html here, you could create a countdown ticker, but we don't care, we're going in May 2018! Yay!

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