euros/dollars

Anyone with recent info on whether the dollar is worth more than the euro or vice versa/ Anyone know the exchange rate for restaurants on the French side?

Today’s current rate is 1 euro equals 1.12 US dollar. When on the French side I use my cc and have it charged in Euros to get the current rate.

That’s the way to go. Most cards now have no foreign transaction fees.

Thanks.

Looks like you're going very soon, Norm. Enjoy!!!

https://www.x-rates.com/calculator/?from=EUR&to=USD&amount=1

They really appreciate cash over credit cards. Sometimes the machines "don't work". Fees are high for credit card machines I think. Just my .50 cents worth, inflation & all . 😁

Then they should discount for cash. Some do but lots don't.

We don’t do a lot of meals on the French side of the island these days but we always do our Anse Marcel days via credit card and have them charge us in EUs. It’s never been a problem and the savings is significant. By the time you rent chairs, do drinks throughout the day and then lunch........it all adds up to much more cash than we typically carry with us and particularly so when we go as a family of four plus one! Those bottles of wine on the beach can add up quickly! But OMGoodness! They do taste delicious.

Every vendor appreciates cash over credit cards. I carry both US Dollars, Euros, and no-fee plastic. I pay in whichever means gives me the best deal.

Yes Carol,...SOON. Thanks to all for the info.

In over thirty years of going...I have NEVER ever carried even one euro in my wallet. Plastic and American greenback have always worked well.

Same here.

I believe that if you have a merchant agreement with a CC, you are NOT allowed to discount for cash.
People do it, but it's not appropriate.
Cheers
irina

Merchants can't charge a surcharge for using a card, but they are permitted (at least by federal law in the US) to offer a discount for using cash. The card brands have guidelines a merchant must follow, but it can be done.

Irina....in due respect...i do not think that CC companies have this rule. An owner of any business can dictate the way they can use it. I do believe that they are not allowed to charge EXTRA for using a credit card.....but can discount anything they want. My wife's business accepts credit cards...but does discount frequently for cash. Also...down here in Florida....millions of restaurants offer a ''CASH ONLY" menu ...especially on their ''early birds''. Some will take a credit card, and it is clearly stated an upcharge for X Amount for using credit cards.

eightzerobits....i guess we were typing the same thing at the same time.

Then I know several smaller businesses/restaurants in the US breaking the law if this is indeed fact. We were in a small but very busy bakery a few days ago with a sign indicating a 50 cent charge for the use of a credit card.

Well actually, in Florida anyway, merchants CAN charge more for using a credit card. The Florida legislature passed a law saying they couldn't charge more and it got overturned in the courts. So they can and they do.

Aqua Mania charges 5% to use a CC. Many gas stations in the US have a cash price and CC price posted at the pump. Usually .10 more a gallon for CC.

We just got back from a quick trip and in VA many gas stations were 5 cents higher for credit. I have witnessed the 5% charge with AquaMania also.

Friers bay doesn't take CC and the exchange rate for dollars to Euro is over the top in their favor.

As my hunting partner tells me rules are only guidelines.

that's why we always carry some Euros when on the french side of SXM and especially in St. Barth...the USD/EUR exchange rates for cash transactions in some establishments can be ridiculous...credit cards usually our first option, but cash if we have to

Google says:

Starting in 2013, it became legal to charge customers extra for using a credit card. Retailers can also require a minimum purchase amount when you use credit cards. But merchants need to follow specific rules when adding credit card surcharges.

Eleven states—California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas—and Puerto Rico have laws that prohibit merchants from charging consumers with surcharges on credit card transactions.

MANY gas stations have different prices for credit vs. cash

We have an electrical business. We have been told it is perfectly legal to add a “3.5% processing fee” stated on the bill if the customer would like to pay by credit card. If they mail a check they can deduct it. I’m in Connecticut. We don’t do much in credit card and get hit with 3.8%. So recouping some is better than none. We thought about just upping our rates but that really isn’t fair to those that Mail a check, which is still about 75% of our business.

As the owner of a business myself, I would never charge a credit card fee. I think that a merchant can decline to accept credit cards, but if they accept credit cards, they should do so at the same rate as cash. But that's just me.

Harry--as I posted above, Florida's law was challenged in court and overturned. Don't know about the status of said laws in other states, but I believe the lawsuit involved several states.

Not sure I agree with the earlier statement that most cards have no foreign transaction fees. Most do. Best to check around and obtain one that pays you back for all transactions as well as having zero for foreign transaction fees.

Always a good idea to exchange some funds for euros before departing. I always carry dollars and euros when visiting St. Martin. For some things having cash is the only thing that may work, such as the cost of a taxi. When dining on the french side always take time and review the menu to see if different prices are listed for dollars in one column and euros in another. This is rare, but it doesn't hurt to check. And, at the bottom of the menu there may be pre-printed language about paying an additional percentage if paying with USD. Of course, the first question you should ask would be "is the price the same for U.S. dollars and euros?" Taking the time to do this can avert some surprises when the check arrives. It is also wise to ask if a service fee is being applied (i.e., 4%).

I will disagree with you. There is no law that says I must accept credit cards. If the customer wants to pay by card to get points, why should I as a small business eat the cost for them to do so. They are more then welcome to mail me a check, or pay by ACH via the emailed bill and I eat the 1.00 charge for that. But because we don’t do much with credit card we get hit with 3.8%. That adds up. We are service oriented, not a store and email bills unless handwritten at the time and the customer pays by check.

Like I said, that is MY opinion, as a business owner. If I accept credit cards, I feel the fees are a cost of doing business and I will not charge the customer for it. As a consumer myself, I feel totally ripped off if a business charges me a fee to accept a credit card, so I will never do that to my clients. And it's none of my business why the person wants to pay with a card.

Most governments charge an extra CC fee for paying property taxes with CC. Feds do too.

Exactly!

And it totally p*sses me off when they do that. As a consumer, I HATE it, that's why I will never charge a fee to my clients to accept a credit card.

If your card has a foreign transaction fee then I would look at getting a different card. I used to have ONE that had no fees and now 3 more have joined the no fee group.

Also...in MANY years of going to SXM I have NEVER used a Euro....I have taken them out of an ATM but for a future trip to France just to have when arriving. One to one if available with USD or CC if not is the way to go....

I remember years back some shops on the French side would write up the sale in dollars and I had no extra fees on my CC.