ATMs & Credit Cards: Minimizing Fees: 2006
Throughout Europe, cash machines and credit cards are the standard way for American travelers to change money or pay for services. You get a much better rate than with traveler's checks but you do pay a fee, usually to your hometown bank or to your card issuer. And ATMs may not be as good a deal, as some overseas ATM vendors and US banks add a 2 percent or so fee to each transaction. How do you minimize fees when using ATMs in Europe? Are they still the best way to change money? Also, any comments about minimizing extra credit card foreign currency conversion fees?
Please Note: ATM and Credit Card fees change frequently. Contact your bank or credit card company for exact, up-to-date information before your trip.
Chipless in Bath
At the train station in Bath, I was paying for my ticket with my chipless Visa credit card at the ticket window. The agent ran it through the reader sitting on the counter and it didn't work. Then he ran it through another little gizmo and it worked. I had tried to use that card while shopping at Waitrose grocery store; it didn't work, and there was no backup system to rescan the card. My advice is: carry more than one card and be prepared to pay cash if necessary
Swan
USA Sat 12/23/2006
ATMS
Are we sure we are talking about the same thing. This summer we found that some of the ticket machines in train stations would not recognize our CREDIT card without the chip. And they had signs that said something about the chip. However, there were some older machines that would -- often with lines of other tourists using them. However, no problems with ATMS and debit cards for cash.
Frank P <email>
Centennial, CO USA Tue 12/12/2006
ATM requires chip in Paris???
I was in Paris earlier this year and didn't have a problem whatsoever with my magnetic strip ATM card. Unless things have recently changed, Chuck's info is news to me. I'm going to check with Citibank tomorrow to confirm this info.
Dave
Chicago, IL USA Fri 12/08/2006
Re Chuck's Paris ATM Machines
I've used mag strip ATM card for all my Europe cash needs for years. This is the first time its been mentioned that I know of ATM machines in Paris not taking cards with magnetic strip. If that's the case, there are going to be alot of upset folks going on Rick's suggestions. If anyone else has had the same experience as Chuck, please sound off.
D Floyd
CA USA Fri 12/08/2006
Paris ATM Machines
Be aware that in Paris "almost" all ATMs now require a card with a computer chip. ATM cards with the mag strips don't work in 99% of the ATM machines. Credit cards with the mag strips still work with the merchants.
Chuck <email>
Orlando, FL USA Fri 12/01/2006
Exchanging Money
I just came back from eight days in Italy and found that using a Credit Card for larger purchases and getting Euros from the ATM machines was the way to go. I was lucky enough to have a few Euros when I arrived ... which a generous friend had left over from her trip. That was enough to get by until I hit an ATM. Many in our group went to banks to exchange money ... they ended up waiting in long lines, while I got my money from the ATM and was already on my way shopping! Although I was concerned about the fees, that wasn't my main concern .... I wanted convenience so I opted for the ATM. It worked out for me.
Diane
Philadelphia, PA USA Wed 11/22/2006
ATM, Credit Cards
Although my credit union (Redwood) told me they do NOT add any fees to use their ATM debit card, I specifically requested another one without the VISA logo as a precaution of non credit union fees. In addition, Redwood Credit Union also will not add any charges on their Visa credit cards.
I also had a Charles Schwab Debit Card for ATM (just in case the Visa-less logo Redwood Credit Union debit card does not work) and a Schwab Credit Card for charges in hotels, stores, and restaurants. Schwab does not add any fees, confirmed by statements after my return.
Just returned from Turkey, Great Britain, and France. ATMs everywhere. Only one bank's ATM in Turkey did not accept the Redwood Debit Card without the VISA logo, but the no problems otherwise with the Schwab Debit Card. Beside this one instance, there were no problems with any of the cards. This way I can draw multiple times with an ATM without worrying about transaction fees in case I need more local currency. In addition, I am not burdened with excess local currency when I leave the country.
As a precaution, I did call the credit union and also Schwab before I left that I will be in Europe.
As a sidenote, if you are using a credit card, be sure the merchants do not change you in US Dollars. This will avoid any local mark-up of currency rates.
I used
Bill
CA USA Sun 11/19/2006
MORE !! CLARIFICATION
This is the second posting from Tony touting Euros from the Bank of American as cheaper than using debit or credit cards. I think the postings are misleading because his numbers don’t add up or he doesn't recognize the fees he has paid. He focuses on sell rates which are artificially set by the selling agency based on the amount of profit that they wish to make on the transaction,
In his travels I am sure he did see sell rates that were higher than what he paid but that is to be expected. Most of the currency exchanges in airports and street corners charge exorbitant fees and, therefore, have very high sell rates. You cannot evaluate a sell rate without a good idea of what the basic exchange rate is. Sell rates are meaningless. You don’t have to know the exact rate but you need to be in the ballpark. There are different exchanges rates used by various banks and agencies but they all will be very close to the Interbank Rate which can be obtained in any newspaper or various web sites.
Today, Bank of America offers Euros at $1.3466 with an Interbank Rate of $1.28xx. That is a markup of just over 5%. And actually a very good rate even with the $7.50 delivery charge if you don’t buy a $1000. However, if you had used your Capital One credit card in Europe today you would have paid a one percent network fee and nothing else. A major savings ! Even if you used a credit card which charges the more common 2% currency exchange fee, it still would be a better deal than obtaining Euros in the US. And the same is true for a debit card unless your debit card is charging about four percent. And you don’t have to worry about keeping secure a large sum of money.
There is merit to buying a few Euros in the US for convenience but no justification, at least financially, for purchasing large quantities of Euros on this side of the ocean.
Tom <email>
USA Sun 11/19/2006
A Little Clarification
In an earlier posting I recommended buying your Euros before starting your trip. Now I don't know where you all bank and what kind of account you all use etc. etc. but I bought 1,000 euros from BofA and paid no fees of any kind except the sell cost.
Yes you can find ATM machines everywhere and yes if you are buying small amounts of currency here and there they are OK. As I traveled around Europe I made it a point of checking the different sell rates (the difference between the exchange rate posted for financial institutions and what they sell to us) and allowing for the rise and fall of the dollar against the euro I never found a buy rate as good as I got when I purchased my euros before I left. What I got from BofA wasn't any special rate, I picked up the money at the bank, and I avoided the $7.50 fee by buying a 1,000 euros all at once.
I'm not saying not to use a debit/credit card. I'm saying that I got my euros at the cheapest rate by buying before I left. Using a credit/debit card has a certain convience to it but if you want the best rate watch the market before you go and buy at the cheapest rate.
Oh yes, to reenforce what the others are saying Credit cards are NOT debit cards and you will pay through the nose if you use them to get cash out of an ATM. Capital One does give you a pretty good deal on credit card exchange rates but so do my other charge cards and I don't travel enough to set up a Capital One debit card.
Tony Hoffman <email>
WA USA Sun 11/19/2006
Capital One Cards
No one has advised using a credit card, Capital One or any other brand, for ATM transactions. That's what debit cards are for. I used a Capital One card for three weeks in Europe this past summer and was charged no fees. That is the reason I got their card in the first place, and I learned about it on this board.
USA Sat 11/18/2006
Just my opinion
I just want to say that is the biggest waste of time to purchase euros or pounds in the US. If you're going overseas, chances are you're going by plane. And I have yet to enter an airport that doesn't have an ATM on every corner. You will get the best rate this way and the incredibly nominal fee that your bank may charge you for converting to international funds is nothing compared to the horrible exchange rate you're likely to get in the US. There's really no reason to arrive with foreign money in hand. And don't try to break your back worrying about minimizing fees. I spent 2 weeks in Europe using a Debit/Check card and a Credit Card from Bank of America and piled up only about $16 in fees. Sure you could spend $16 on a great meal but is it really worth all that hassle? It wasn't for me.
Stephanie <email>
Tyler, TX USA Fri 11/17/2006
CAPITOL ONE DONT USE IT
Marcia; I am wondering who advised you to use your credit card for ATM usage.
The ATM card is designed for ATM machines.
You should have asked about fees at your bank before going and using your card.
That would have saved you some bucks.
I havent read any reports on this page saying Capitol One doesnt charge a fee on credit card usage.
USA Fri 11/17/2006
credit card cash advance fees
Marcia:
No one ever suggested using a Capital One credit card in ATM machines for cash. All credit card companies treat use of their cards at atm's as cash advances and hose you.
What has been suggested is to use Capital One for CREDIT CARD TRANSACTIONS.
You made a big mistake, but don't blame Capital One, blame yourself.
Brian
USA Fri 11/17/2006
Capitol One *** Don't use it !!!!!!!!
Warning friends!
On the advice of postings here on Graffiti wall I opened a Capitol One account and used their card exclusively in ATMs during my 3 weeks in Italy. It was a very big mistake. They charge exorbitant fees and I am still trying to close my account with them. They called all of my ATM withdrawals "cash advances" and they charged very high fees. I will NEVER use Capitol One again and I am disheartened to see people still saying Capitol One has no fees. This is not true! Be warned.
Marcia McCarty <email>
Edmonds, WA USA Fri 11/17/2006
best value for foreign currency
get an atm card from a bank that does not charge you for using someone else's bank and does not charge you any foreign currency exchange fee. There are many banks or credit unions out there that charge nothing out there.
Anyone who thinks getting foreign currency from your local bank in the U.S. is a better deal is 100% dead wrong. ATM's are everywhere in europe including airports and cities, small and large and almost always with no fees from these foreign country banks. In all my trips to all over europe, I have never had any problems finding an atm quickly-never. Every airport including the smallest has at least one atm.
Brian
USA Thu 11/16/2006
BUYING FORENGN CURRENCY AT A LOCAL BANK
I cant imagine paying those high fees to buy currency in the U.S. when obtaining money in Europe is so easy from an ATM.
As for having it to start the trip, I always find an ATM withing five minutes of landing in any airport.
If you don’t see one, you can always ask someone and find it easily.
I have NEVER failed to have euros in my hand immediately upon landing.
And in most towns ATMs are easy to find in every country I have visited in the past 10 years.
As a result I never carry travelers checks or buy currency before going. I sometime use my credit card for larger purchases.
USA Wed 11/15/2006
BoA Foreign Currency Shipping Fee
I was charged a $7.50 shipping fee even to pick up the currency at the bank. Maddening. I fully intend to use the ATMs for most of the money I need, but we wanted some to start out the trip.
Seattle, USA Wed 11/15/2006
Barclays Bank -UK
Just back from England and Wales I used Barclays Bank ATM's and no fee was charged at all. Also my credit union has no fees on those transactions either.
JS
USA Tue 11/14/2006
BoA vs Wells Fargo
Bank of America charges about 5.5% for foreign currency purchased in the USA. Arrange to pick up the currency at a bank to avoid shipping fee or order $1000 or more. Wells Fargo has similar exchange rates, but I know of no way to avoid the $8.00 shipping charge.
Chip
Iowa USA Tue 11/14/2006
Money Exchange
I spent several months checking out the best way to overcome the money issue on the 2 week European trip I just returned from. After calculating all the ways people talked about I bought a money belt and Euros from my bank (BofA). Getting cash in Europe is the most expensive. I bought 1000 euros before I left and came back with about 150 euros (2 week trip) and I didn't skimp on my dailey spending. I use a single credit card that I had with a very good exchange policy (credit union card)to buy a few items. I've calculated all my expenses now that the trip is over and I can honestly say that pre buying the euros was the best way to go. My two friends went the ATM and credit card route and payed a premium for convience. Oh, by the way, every hotel I stayed at had a private safe in the room which you set the combination for. I only carried my passport, 100 euros, and one credit card in my money belt on any given day.
Tony Hoffman <email>
Seattle, WA USA Mon 11/13/2006
ATMs and Credit Cards
Having just returned from Spain and France, and having some of the charge card bills in hand, I'd say that paying cash, which you obtain in-country from an ATM, is the way to go. My bank charges $3 for any-size withdrawal. But my credit card company charges 3% extra on every transaction, for making the currency conversion. In addition, the exchange rate was better for my ATM withdrawals.
Janet Laird
Rochester, NY USA Fri 11/03/2006
ATM
On the subject of ATMS, we used our credit union's Visa debit card, we made euro withdrawals in 3 Italian cities, after our return I called the credit union office to inquire about the charges, they could not give a percentage number, only the total exchange rate, We used our Mastercard whenever posible because we think that it is the best way.
George <email>
Oregon City, OR USA Wed 11/01/2006
L'Ospite Appartments/hotel
We just returned from Verona, Italy, we stayed at the comfortable L'Ospite, hotel apartment. Our very gracious and knowledgeable hostess, Federica de Rossi, gave us much information (fluent english). On the day before our return flight we found out that the Pope would be in town,in effect stopping all transportation. Federica got up early to drive us to the airport at 6 AM, we never would have made it without her.
George <email>
Oregon City, OR USA Mon 10/30/2006
atm fees
Brian, just to correct a slight mistake in my previous posting - "foreign ATM" refers to any ATM from another bank, even in this country. The "foreign ATM" fee for an ATM in Europe is $3, not $1.50. However, a few foreign ATM fees per month are waived for HIGH BALANCE checking account holders.
However, there was no mistake in what I was told. I sat right in the bank branch manager's office while he printed a sheet from the company's website and handed it to me. Under "fees for personal accounts", it shows an identical fee structure for either a debit card or just a plane ATM card.
The fee for withdrawl of currency in other than US dollars is 3%. He assured me that, of the 3%, only 2% is charged by the bank; the other 1% is added by the network (Plus, Cirrus, Star, etc, not Visa or MC) for handling the ATM transaction and passed on by the bank to the customer. It is not shown as a separate item; it is just incuded in the dollar amount of the ATM withdrawal.
I later found the same form on the bank's website, but you have to be a customer and have a password to access it. It's part of the information they only give you after you sign up for an account.
<email>
USA Sat 10/21/2006
re: atm fees
Brian,
I went to my bank today to get an atm card, like you suggested, so I wouldn't have to pay those fees. They told me that with an atm card, my fees would be exactly the same as with a debit card - 1% network fee plus 2% "currency conversion", plus $1.50 "foreign atm fee".
Judy <email>
USA Wed 10/18/2006
atm fees
UFB probably charged you the 1% visa exchange fee. That was because you had a ATM/debit(visa) card. Had you requested an ATM only card, you would have not been charged that 1% either. I cannot think of a reason to carry an ATM/debit card, but only disadvantages. First the 1% fee, second the atm/debit card is less secure since if it is lost or stolen, your bank account will be cleaned out in about 10 minutes, but an atm only card is useless without the pin #.
To all of you readers out there. I have traveled to virtually every country of eastern and western europe in 6 trips using my UFB Direct ATM only card and my Capital One credit card. I have never had a problem and I have never paid a dime in fees, not even the 1% visa/mc fee on the credit card (Capital One eats it). There are no better deals out there anywhere-period.
Anyone who says buying foreign currency in the U.S. is "almost as cheap as using overseas ATM's" or using rip-off atm/debit cards like BOA or virtually all other credit cards with their high 2-4% fees is either ignorant or just plain lazy.
Spend your hard earned money on your trip, not enriching your bank.
Brian <email>
Snohomish, WA USA Tue 10/17/2006
Bank of America vs UFB direct
Recently returned from Copenhagen and also scandinavia tour I call Band A was told to use Bank with Visa logo I also obtained UFB direct acct for atm withdrawal bottom line no fees noted on UFB account Band A charge me only a tiny transsaction fee nothing to be concerned. Still UFB direct was better thank you to gentleman who posted this info previosly.
gerry
orlando, FL USA Sun 10/15/2006
Purchasing Euro
Kathy's concern was that she had paid way to much for the Euro. She did not - a few dollars maybe, but definitely not WAY too much.
Don't dwell on the $72 (which, BTW, according to her numbers was only $68). That's how much she paid over the Interbank rate; you can't get the Interbank rate from ATMs. At 1% network, 2% currency conversion, and $5 fee per withdrawal, she would have paid almost as much in fees, $63, to get the same amount of cash from ATMs in Europe.
ATMs are easy to find in Munich, at Marienplatz, but where are they located in Berchtesgaden, or in Freudenstadt? Do they even have them in Alpirsbach? If you bring money with you, you don't have to search for them; it is the most convenient way to go. I don't do that yet, because I have a bank that still only charges 1% for ATM withdrawals, but today most banks charge much more.
Yes, ATMs are still the cheapest way (sometimes just barely) to obtain foreign currency, but they are not necessarily the most convenient.
SLS
Seattle, USA Mon 10/09/2006
KATHY .....PURCHASING EURO S
You are right about paying $72 in fees.
It is never economical to buy Euros here when you compare the cost of buying them at the ATM in Europe.
You will find lots of different opinions on these pages, but all experienced travelers will agree that using the ATM is the most convenient and cheapest way to obtain foreign currency.
USA Mon 10/09/2006
Increase Your ATM Limit
Several people have commented on the limits on their ATM cards. To reduce fees before my last trip, I asked my bank (Wells Fargo) to increase my limit from $300 to $500. No problem. Wonder how high you can go.
Terry
Reno, NV USA Thu 10/05/2006
AAA Prepaid cards
Zena, who told you you were saving "huge fees" from your bank? You were terribly misled. You ended up paying much "huger” fees to AAA Visa?
The highest rate I know from a bank is Wells Fargo, which charges 3% (1% network plus 2% currency conversion) plus $5. That amounts to 4% for a $500 withdrawal (a little more since you can't withdraw the full $500).
One the other hand, AAA Visa Travel Money Card takes 7% (6% plus the 1% Visa network charge) plus $2, which is another 4/10%, at least, depending on how much they let you withdraw at a time. It is in the fine print (www.aaa.com/AAA/999/sycs/VTMTerms.html) on the “Terms and Conditions” of the AAA Visa Travel Money Card.
"If a card transaction is made in a currency other than that loaded on the Card, the amount will be converted into the appropriate currency at an exchange rate on the day the transaction is processed. The exchange rate used is the wholesale money market or the government-mandated rate increased by 7% (including the VISA handling charge of 1%)."
Frank, I think you are confused with what I told you a while back about the currency exchange service at DIA. They charge 10%. I have followed AAA Visa Travel Money Card for several years, and they have always charged 7% (Still very bad).
<email>
USA Wed 10/04/2006
AAA Prepaid Cards
For Zena and others who are considering the pre-laoded cash card from AAA, AM Ex, and others --- look at the currency conversion rate. When I looked at the AAA card about a year ago, they were charging about 10% for conversion plus a usage fee. Not a good deal. Since these cards are "pre-loaded" they are not subject to the same regulations as debit/credit cards. They are not required to disclose their fees. The fees are buried in the currency exchange rate. IMO, these cards offer NO advantage over a debit card with a good rate.
Frank P. <email>
Centennial, CO USA Wed 10/04/2006
AAA Prepaid Cards
One of the best things I did before my trip was buy a AAA Prepaid Travel Money Card. It's a pre-loaded ATM/debit card that can be used at any ATM worldwide with minimal fees ($2 per withdrawal). You can reload your card online through a bank account or have someone in the States go to a AAA location and add more money. It's saved me the huge fees my bank wanted to charge, and it can also be used at many locations that accept debit cards.
Zena <email>
St. Louis, MO USA Wed 10/04/2006
RE: Euro Fees
Kathy,
if I understand you correctly, you paid $1500 for Euro at $1.33/€. At that rate you would have received €1128.
You indicate that your bank charges a $5 ATM fee plus a 2% fee (probably a "currency conversion" fee, which is on top of the 1% network fee). If so, you would have been charged 3% over the $1.27/€ exchange fee, for a total of $1.308/€.
At that rate, you would have paid $1475 to withdraw the same amount, €1128, from the ATMs in Europe.
If in addition, you made three withdrawals at $5 each (assuming they didn't limit your amount so you had to make more), that is a total of $1490 to get your cash.
So, you paid an additional $10 to get the Euro over here. For that you avoided having to find ATMs 3 or more times and the risk, probably small, but real, of being robbed at an ATM.
Fortunately, I have a bank that only charges the 1% network fee as well as a small (less than $2) ATM fee. I will continue to use that bank and ATMs in Europe, but in your situation, I would certainly get the cash before going over.
<email>
USA Sun 10/01/2006
One piece of advice dont get down on $ so that your Cc is only way to pay
John Brangwin
Bellevue, Wa USA Sat 09/30/2006
Euro Fees
I am leaving for Paris this Monday, Oct 2nd. I spent $1,500 at my bank to buy Euro's thinking it would save me ATM fees. They charged me $1.33 per dollar and the latest straight exchange rate I could see was E$1.27 per dollar. So that means I paid $72.00 in fees.
It looks to me as though it would have been cheaper to pay a $5.00 fee at ATMS In France and a 2% transaction fee if that is what they charge.
Any comments?
Kathy <email>
Chicago, IL USA Fri 09/29/2006
Bank of America & BNP Parribas
Bank of America customers beware when using BNP Parribas bank in Paris. A BNP manager told us not all ATM machines will accept debit card (we were told it was a technical problem and to notify Bank of America when we return!) and remember your withdrawal amount limits. I tried to withdraw 500 euro (too high) and my card was rejected for the rest of our trip-thank God we were able to use my husband's card with a lower amount.
BB
Boonton, NJ USA Mon 09/25/2006
visa/mc 1% fee
You need to get an ATM only card, not an ATM/debit card with the visa/mc logo. Then there is no 1% fee as the transaction does not go thru visa or mc.
Brian
Snohomish, WA USA Sun 09/24/2006
Wamu charges
Just so you know that I was in London this past week and I got home to check my WAMU account. I asked before my trip what fees were going to be charged to my account and I was told over and over again that the only fee that I would be charged is the fee from that banks atm. So I was surprised to see that there was a foreign transaction fee of 1% for atm withdrawal. I call in and was told that was what MasterCard charged and I said that was fine, but I asked a lot times what fees and was told none except for another banks atm fees. In fact I did call like 4-5 times and was told the same thing. I ask for a supervisor today and I was told the he found it hard to believe that out of the 7 times I called no one told me this. I said I never told you all 7 calls were about fees, but 4-5 reps told me this info. Anyway I don't care that it was charged since it was a MasterCard fee, but I am mad that I asked about fees and not one told me about it. Anyway anytime that I talk to wamu in the future I will just ask to talk to a supervisor.
HS
Il, USA Sat 09/23/2006
The cheapest ways to get or send Euros
We spent three weeks in Europe this summer. Our Rick Steves books were our main planning tools and a great help.
- Our Credit Union's ATM rates were great, but they pulled from our checking account even though my CU said it would pull from savings. Fortunately I could access my accounts online and transfer my money.
- We wish we would have brought a debit card instead of an ATM card so we would have had a $500 daily limit instead of $200.
- Our Capital One Visa was great before and during the trip (1% instead of 3% fee, no inflated exchange rates), but they only allow a fraud alert exception for 28 days, so we had to call just before we left.
- Our weekend guesthouse in Fussen (Kopf, near Neuschwanstein) was great, but nobody was there to take our cash payment so we had to send it later. I found that www.xe.com has a great service to send money in a foreign currency. A wire transfer would have only cost 12 Euros instead of the $45 my bank wanted. I chose the FREE mailed bank draft (check) option and it arrived much faster than promised. I highly recommend their XEtrade service - just allow a few days to set up and confirm your account.
- I hope this helps. Enjoy your trip!
PS
Virginia Beach, VA USA Sat 09/23/2006
AMEX credit cards
I have a Capital One Visa but was thinking about taking my American Express card as a backup. I've heard that Amex is not used or accepted much in Europe. Is this true?
Terri
USA Fri 09/22/2006
ATM Fees
Do a little research first in finding banks that never charge foreign ATM fees. Local banks and credit unions are prime candidates. Then get only an ATM card (not an ATM/debit card). Then you will not be charged the 1% visa/mc fee and if it is lost or stolen without the PIN, it is useless. If you need more daily cash than one account will allow, just open two accounts. I use UFB Direct. Also, for a credit card, Capital One is the best deal I know of. They charge NOTHING extra for out of country purchases-I mean nothing, not even the 1% visa/mc fee-Capital One eats it.
Just got back from a 18 day tour of eastern/southeastern europe using both of these cards. Went without a hitch. I always travel overseas with ATM cards from two separate accounts, that way if one gets lost, stolen or fails to work, I have a backup. Use your credit card in a discriminating fashion and never let it out of your sight and you will probably never have a problem. We generally only use a credit card for paying for accomodations, car rentals or train tickets and pay everything else with cash.
One trick I have learned when shopping at many merchants is to negotiate your price first, then when you go to pay, bring out the credit card (remember you really do not really intend to use it anyway, so keep it in your hand). I think small merchants really pay high visa/mc fees in europe, so most of the time they will pile on an extra 3-10% more of a discount for cash. (If the merchant does not make the offer, you do.) Remember, you probably do not want to use your credit card anyway, so by using this bluff, you can earn higher discounts. If the merchant does not bite at first, there is nothing like a bit of indecision to bring them around most of the time. If they don't, you can still pay with cash, which should be your best decision anyway.
Brian <email>
Snohomish, WA USA Fri 09/22/2006
Chase Conversion Fees
For New Jersey, New York, and Connecticut residents, Chase charges $3 plus 3.5% (2.5% for them on top of the 1% to the "network") to withdraw money from foreign ATMs. For residents of other states, the conversion fee is "only" 3% (plus the $3 fee).
Suzanne
Rochester, NY USA Fri 09/22/2006
Bank of America cardholders in search of
I agree, Deutsche Bank ATM's are very difficult to find in Italy unless you do research on addresses and locations ahead of time. I just returned from Italy yesterday. I found that asking German tourists if they had seen Deutsche Bank nearby worked. In the end, it just took too much time to hunt ATM's. So I used my credit union ATM card. They charged a 1% fee. It worked at all ATM machines i tried.
superdeluxe
seattle, wa USA Thu 09/21/2006
B of A Card in Italy
The only bank in Italy that is on B of A's list for no transaction fees is the occasional Deutsche Bank. I found one in Sorrento and would expect that the larger cities might have them.
USA Wed 09/20/2006
family travel
Our family of 4 are travelling to Europe over December. I see that someone has posted that there is a daily limit of E250/day on ATMs. This is below our budget and most places we are staying at require cash, so can't use the credit card. I figure we would have to use ATMs almost every day to keep up with the budget. Does anyone have an ideas on how to have a cash flow that isn't going to cost the earth in fees. I was considering travellers cheques as a backup, but I feel most people are against this idea. We will mostly be in Italy.
Robyn
Australia Wed 09/20/2006
Never to late to complain about fees
The time to find out about fees is before you leave for Europe. But it never hurts to contact your banker if you are charged fees that you did not expect. I have had fees reduced or eliminated. It helps to have a good relationship with your bank.
Chip
Iowa USA Mon 09/18/2006
Bank of America: Deceptive Fees
If you are using a Bank of America ATM card, watch out if you are withdrawing from a non-Bank of America ATM because the fees are steep and deceptive. We got home from Italy to discover that Bank of America charged us $90 in fees for using non-Bank of America atm's in addition to the standard fees assessed at the time of the transactions. They assess a 1% fee at the time of the transaction and a $5 fee per transaction at the end of your vacation. They even charged us $1.50 per transaction when our card was denied due to the machine not working properly. When we went to Europe last year, the fees were not this steep, so I guess this must be a newer practice. If you can find a bank affiliated with Bank of America, use it. But we were in a lot of towns that didn't have a Deutche Bank, etc. As a traveler, I am planning on changing banks before my next trip. I expected some fees, but not robbery.
Steve
Puyallup, WA USA Sat 09/16/2006
Pins starting with 0
One of my debit cards has a PIN starting with 00, and I used it in Europe without any problem.
Lee
USA Fri 09/15/2006
Pins starting with 0
I live in Europe (Belgium) and have a bank account here. My pin starts with a zero and I have no problems anywhere I go.
Elizabeth
Brussels, Belgium Fri 09/15/2006
B of A Debit Card
I want to echo the sentiments of others. I used by B of A ATM card at BNP Parribas in Paris and Barclay's in London with absoultely no fees. Very convenient!
Look out when using a non-alliance ATM, though. B of A did not have an alliance bank in Amsterdam and I got hit with $10 worth of fees to take out E20 on the last morning just to get a cab to the airport!
Chris
STL, MO USA Fri 09/15/2006
Money exchange
Remember these rules when using your Bank or Credit cards while traveling abroad: 1. Call your bank or credit card company and give them your dates of travel and travel plans; 2. Ask for their affiliates in the countries you are traveling (example: BofA has Duesche Bank, but your best rate is only at that bank while in Germany, not other countries; 3. Take some local currency with you to use at your first stop; 4. The exchange rates you see posted are based on purchases of $1,000,000.00 or more between financial instutions; your rate will always vary from 3 or 4 cents upwards depending on where you make your exchange and it will be based upon the rate at the close of business the day before; 5. Credit cards are best used for purchases not for getting cash (your credit card company will treat this transaction cash withdrawals and charge you a higher interest rate, charge you higher exchange rates and many times the merchant and the merchant network will also charge you additional fees (these charges usually appear separately on you statement when you return home; 6. Consider buying euros before you leave through your bank (usually a purchase of $1,000 or more with pick up at your local banking center oftens times is the cheapest rate you will get even over the use of ATM machines since the cost will be the bank sell rate (other money services will be more expensive because that is there business and they make a profit to cover their expenses); 7. I try to use local currency rather than credit cards because you know exactly what you are paying and you are less likely to be exposed to any sort of identity theft or scam; 8. Take a small caculator with you so you know how much you are really paying for things in your own currency; 9. A money belt is indespenceable!, you can get a nice one at Target for $8. Finally, relax and enjoy yourself; if this is your first trip abroad, learn from it!
Tony <email>
University Place, WA USA Fri 09/15/2006
ATM fees
This week I was informed by a Wells Fargo teller that use of my debit (ATM) card in Europe would result in a 3% charge on funds withdrawn, and a flat $4 to $5 charge each time I make a cash withdrawal. Yikes!
Jackie
Western, WI USA Wed 09/13/2006
WaMu London
I used my new Wamu gold MC debit card without a problem this past July. I was able to get cash from every ATM I tried.
Seattle, USA Sun 09/10/2006
Wamu London
Has anyone used there new Wamu card in the Uk Recently? If so did you have any problems?
Londongirl30
Chicago , IL USA Sun 09/10/2006
What is Best?
I am travrling to Italy next month and I am on the fence about if I should use my B of A debit/visa card, my credit card, or put my cash into an Amex Travelers Card (like an ATM card). Any info on what has worked best and cost least would be great! Thanks and happy travels.
Carrie <email>
Los Angeles, CA USA Sat 09/09/2006
Don't take Am EX trav checks
Use your ATM card in Europe. I took Am Ex trav checks and got nailed for 14% in Hungary.
Giorgio Hermani
Ft. Lauderdale, FL USA Sat 09/09/2006
ATM limits in Italy
Re ATM limits in Italy, I just returned Aug 31 and the limits on the Bancomats associated with the banks (which are the only ones our guide warned to use) is 250 Euro.
I used my Capital One credit card for hotel payment and souvenir shopping and my Euro for paying for food and drinks. That way they lasted longer with fewer withdrawals required.
A warning to watch for people begging near the ATM's, some who appear to have severe injuries, but who suddenly become very healthy and grab your newly withdrawn cash. I was warned of this scam from a local I met on a bus tour to Pompei.
Canada Fri 09/08/2006
Re:WaMu Debit Card & ATMs
The big problem is that Wamu is saying that the debit card should work on MasterCard, Maestro, and Cirrus even though the symbols are not on the back. However, if you call or email MasterCard they say if your card does not have the actually Maestro or Cirrus symbols on the back then it will not work on atms that require it.
Basically they are saying the exact opposite what Wamu is saying and Wamu is contridicting itself everytime anyone talks to them. I myself have talked to 3 people and have about 5 emails all saying different things. I have some email that actually says ONLY the Star symbol will work overseas, which is wrong. Even the Star website says it's a US only network.
I know some people who have gone to France and Spain and had no problem using the gold MC debit. I'm going to Greece in a day and I hope it'll work. The MasterCard people did say that it's rare to have an atm with Cirrus or Maestro, but not MasterCard. I'm hoping this is the case.
JD
LA, CA USA Wed 09/06/2006
ATM limits
Our friends traveled to Italy last year and said the only problem they had with the ATM's was when they tried to exceed the limit. They said there was a $250 euro per day limit per card. Did this happen to anyone else?
E. E. Franck <email>
Pleasanton, CA USA Tue 09/05/2006
Well after reading this thread about ATM fees I opened a Compass account for my trip. I deposited only the money I will need for my trip from my Chase account. I also decided to have 500 Euros cash before I leave the US - just in case the ATm is down or I'm in a hurry.
It turns out that Compass charged me an exchange rate of 1.40! The going rate is 1.28 according to http://www.xe.com/ucc/
and they charged my $10 delivery charge and it takes 3 days to get the Euros.
Although Compass will charge me less in Europe than Chase they charged me more state side than Travel X would have.
Just a warning for fellow Compass customers
USA Tue 09/05/2006
WaMu Debit Card & ATMs
Regarding the WaMu Debit card (with MasterCard logo on it): This card has a Mastercard and a Star logo on the back. It is true: Star can be used only in the U.S.
Look at this website(http://www.mastercard.com/us/trademarks.html); on it you will see the three logos which are part of the MasterCard network – MasterCard Maestro, and Cirrus. You will notice that each one has the same (overlapping circles) design. So, the WaMu Debit card in fact can be used abroad - at ATMs which have a Mastercard or a Maestro or a Cirrus logo.
seattle
USA Sun 09/03/2006
Pins beginning with Zero
In planning my trip I went to Wells Fargo's site, and they say that most international ATMs have 4-digit PINs, but many won't accept PINs beginning in Zero, and to contact the bank if you have a PIN starting in Zero.
Rick
USA Sun 09/03/2006
MUTIPLE TRANSACTION PROBLEM
In all my travels I have had a problem at the ATM only once.
In Helsinki I entered the wrong pin number and the machine rejected my withdrawal. So I entered it again but incorrectly again. The machine told me I had been blocked out. A lady standing near told me to wait an hour and try again.
I waited and was successful later. If you are blocked out there must be a limited time period AFTER which your blockage is removed.
That time period probably varies by machine.
USA Sat 09/02/2006
Multiple Transaction Problem
I think I figured out why some people have a problem getting any money out of ATMs in Europe. I stopped by my West America bank branch today to let them know I'd be traveling. I was told about the problem of "multiple transactions." If you try to use an ATM several times within 15 minutes, you'll be blocked out. I explained that sometimes I have made multiple tries by starting at a high amount and making further requests at the ATM until I get to the level that the bank will allow. The teller advised me to wait 15 minutes between tries. This may apply only to this particular bank, but it is something to consider when problems arise. I suppose a card could be cancelled if the activity seems too "suspicious."
USA Thu 08/31/2006
B of A card in Europe
Jenn, I traveled in France and Italy a few months ago. Had no problem with BoA Visa debit card. Check with BoA or their website for info on their partner banks as Swan mentions below. I used BNP Paribas ATM's in France several times. There is no charge when using those. In Italy I had a hard time finding one of the partner banks. I did have to use another bank's ATM the charge was $5 + 1% of withdrawl. Also, it is a good idea to let BoA know that you will be traveling and using your card abroad.
Jeff
TN USA Tue 08/29/2006
SUSAN....ATM, DEBIT CARDS
You can find ATM machines which will take your card.
Every bank’s machines are different; just read the names of cards acceptable on the front of the machine.
You can tell which machines will accept your card.
USA Mon 08/28/2006
ATM-Debit cards
I have CIRRUS and STAR on the back of my ATM (DEBIT CARD). I will be in France in October is this what I need to get cash from the ATM over there? thanks!
Susan
USA Mon 08/28/2006
B of A Card
Several years ago I opened an account at B Of A specifically for European travel. BOA does not charge a fee for using their check card at ATMs in specific banks in Europe: Barclays (Great Britain), BNP Paribas (France), Deutsche Bank (wherever you can find it), and one or two others. Check with BOA. It works for me. In Italy it is a little difficult finding a Deutsche Bank, but I did find one in Sorrento.
Swan
USA Fri 08/25/2006
Using Bank of America Debit in Europe
I am thinking of using my Bank of America Debit card in Europe. Has anyone had good/bad experiences with BOA cards? Does anyone know the exchange rate, the ATM charge or a better bank to go through that is cheaper with exchange rates and ATM charges?
jenn <email>
seattle, wa USA Thu 08/24/2006
PINS beginning with zero
I recently heard that some European banks won't accept debit transactions if your PIN begins with "0". This was a new one on me. Truth or urban legend? Thanks.
Terri
WA USA Sun 08/20/2006
Traveling Again
For your own peace of mind, go ahead and buy the Euros at home. You might get a little better deal if you buy them through your bank. So get 100-200 Euros for probably less than $20 more than you would pay at an ATM in Europe. When returning home this time, bring some Euros with you for your next trip. I do that and enjoy the sense of security it gives me.
USA Sun 08/13/2006
Buying Euros ahead of time
Ok... so I know most people don't recommend buying Euros before ya go... but for some strange reason... I just feeeel better having a stash of local money before I step on the plane.
The exchange rate for Euros is about $1.27 according to Oanda.com today. I checked out AAA and they will sell them to me for about $1.367! :( HOWEVER... Oanda.com will also sell them to me for practically the same price - $1.358 !
Any better places to buy before I go? (I am travelling alone and just don't want the added stress/worry of finding ATMs in the first few days).
Thanks. (Anyone going to Germany in September? Black Forest area?)
Travelling Again! <email>
Ft Laud, FL USA Sat 08/12/2006
Re: Checking/savings on debit
Previous postings on the Graffiti Wall have claimed, that by EU law, banks cannot charge ATM withdrawls against a savings account, only a checking account. I'm not an EU law expert (or even a novice). But I will say that our ATM card is connected only to our checking account and we've never had any problems.
Rick <email>
Chicago, IL USA Fri 08/11/2006
RE:Checking/savings on debit
Apparently some of the ATMs in Italy use software that can't handle having 2 accounts hooked up to the same card. It doesn't have the option of picking which account so it gets confused. My brother went to Italy and his card didn't work at any ATM he tried. He called his bank and they basically just "turned off" one of the accounts and then the card worked fine.
He just had them turn off the savings account and then just called to reactive it on the card when he got back. He didn't need to get a different card or anything. It was take care of right over the phone.
It's just a small thing like having to have a PIN with only 4 digits. Not a big deal to take care of, but good to know before you go.
USA Fri 08/11/2006
Checking/savings on debit
JD, can you elaborate a little on this? I have both checking and savings at WAMU and as far as I know I can access both through the debit card. What kind of problems can result?
Terri <email>
WA USA Fri 08/11/2006
RE:WaMu / Don't use debit card at all?!
The only thing you need to check on your WAMU card is that you DON'T have both a savings account and checking account connected to it.
If you do call Wamu and have them turn off one of the accounts on the card. If you don't you'll have some trouble in Italy. Other than that have a great time in Europe!
JD
Los Angeles, CA USA Thu 08/10/2006
RE:WaMu / Don't use debit card at all?!
Thanks for the feedback- like I said, I've been reading how most people aren't having any problems with the new WaMu card so maybe I will just throw caution to the wind and stick with it! :) I will be in The Netherlands, Germany, Austria, Italy, Switzerland and France... it seems like most of those places people have had little or few problems.
Kristine
WA USA Wed 08/09/2006
ATM fees
Open a checking account with E-Trade. Their URL is www.etrade.com. Once you get your ATM card you can use it at any ATM machine, anywhere in the world, and not pay a single cent in ATM fees. You get the best exchange rate available at that time, and there is no other charge. They will explain it all on their web site.
Hilary Thornburrow <email>
Stanwood, WA USA Tue 08/08/2006
RE:WaMu / Don't use debit card at all?!
Kristine,
Not sure why your bank told you that. It's usually a better exchange rate and safer than carrying around cash. Not a lot of places like traveler's checks.
I've used my Wamu card in Italy, Switzerland, and Austria with no problems. The only concern I have right now is with the new Wamu MC debit card. I'm going to Greece and Wamu has said it should work fine there.
I had a friend use Wamu in France back in May with no problem.
JD
Los Angeles, CA USA Tue 08/08/2006
WaMu / Don't use debit card at all?!
I have been reading for the last few weeks/months on this board about the new WaMu card and the concerns people have been having. After doing a little research of my own, I decided to open up a new acct at a different bank that uses Visa debit cards (with all the logos on the back- Plus, Interlink, Star, etc). The fees at my new bank are alot better than at WaMu. HOWEVER, when I told them the dates I would be traveling and in what countries, etc. they said that they strongly discourage the use of ATM/Debit cards in general while overseas. Now I am more confused than ever! Seems like no one else is having any problems using a debit card- so why would they tell me I can't? Maybe just switch back to WaMu?
Kristine
WA USA Tue 08/08/2006
OK US Wamu Fees
Thanks For the fast Reply about this. This is what Wamu has to say about atm fees:
*WaMu will not charge ATM fees for cash withdrawals, but non-refundable ATM operator fees and foreign currency exchange and transaction fees may apply.
I have also been told that banks in Uk don't charge to use their atms. So if this is true I think I only get hit with the 1% charge.
HS
Chicago, Il USA Wed 08/02/2006
HS......WAMU FEES
Don’t be confused by the money thing in London. Millions have gone there and handled it; so we know you can.
Ask your bank clerk your questions about their charges. When you get to England you will find that withdrawal fees vary from bank to bank. Depends on where you find the ATM machine.
There is always a conversion fee using your credit card. Thats the way banks make money on their services.
Any place you exchange money will have a conversion fee.
OK USA Wed 08/02/2006
WAMU Gold Debit in Greece
Anyone use the new Wamu gold debit in Greece? The rep I talked to said it should work there, but I'd feel better if if someone could confirm this. Thanks!
JD
LA, CA USA Tue 08/01/2006
WaMu
Ok I'm a little confused about this money thing in London. I live in the us and want to know what is the best credit card to you us for shopping as far as conversions fees. Also I am opening an WAMU free checking account and I want to know what are the true fees that are with withdrawing money from an Atm. Also is there a conversion fee with just using the card as a credit card?
HS
Chicago, Il USA Tue 08/01/2006
Slightly Better Deal
I just found out that two local Wells Fargo branches do international currency exchanges; they will give me 74 euros for $100 (today's rate) so I will probably check that out instead. Unless someone has a better idea.
Terri
WA USA Mon 07/31/2006
Pre-Trip Euros from AAA
I read somewhere on this board about pre-purchasing Euros at AAA; and thought it would be handy to have a couple of hundred dollars worth on arrival in Paris so I don't have to mess around with an ATM right away (I have the new WAMU MC debit card). I called AAA today and they said they would sell me 68 Euros for $100...doesn't seem like a very good deal! Anyone have any other ideas? Thanks.
Terri <email>
Quilcene, WA USA Mon 07/31/2006
Foreign exchange costs
In addition:
For $1000 I get about $940 in foreign denomination travelers checks from American Express online.
Thanks for the reminder on recent increases, Lee.
Chip
Iowa USA Mon 07/31/2006
Foreign exchange costs
Chip, you need to pay attention.
Today, with many of the major banks (Wells Fargo, Chase, US BAnk, and others), you get maybe $960 for your $1000 at ATMs.
I still use an ATM card from one of my three banks, but the other two are now no cheaper than getting foreign currency before I go.
Lee
USA Sat 07/29/2006
Foreign exchange costs
I spent way too much time checking prices to find out what I already know about foreign exchange costs. ATM's are the way to go.
For $1000 with my ATM card I get almost $990 in foreign currency.
For $1000 with my credit I get almost $970 in foreign goods and services.
For $1000 I get almost $960 in foreign currency from my US bank.
For $1000 I get almost $960 in foreign denomination travelers checks from my US bank.
For $1000 I get less than $920 with a AAA VisaTravelMoney Card overseas.
For $1000 in US currency or travelers checks I have a chance to get almost $960 in foreign currency from large UK banks or a UK post office. Other places will try to give me considerably less.
Chip
IA USA Sat 07/29/2006
You should read this story:
Visa and Mastercard to pay 336 million dollars in currency suit
http://news.yahoo.com/s/afp/20060726/bs_afp/uscompetitionbanking_060726190332
Kristen
Omaha, NE USA Fri 07/28/2006
ATMs
We left with our ATM card and a Mastercard. Unfortunately, I didn't have the PIN for the credit card, since I always use the ATM card for cash. The ATM card worked fine at a credit union in the French Alsace region ($2.50 fee) but would not work in any bank machine in Germany. Banks do not do over-the-counter cash advance any more it seems, and we were planning how to squeak through on our remaining euros. On our next to last day, in northern Germany, I saw the Post Bank (at the Post office) Bingo! It's a different system and accepted my credit union ATM card.
Tim Sundt <email>
Grand Rapids, MI USA Fri 07/28/2006
Wamu Mastercard Debit Cards Update
By law (actually, I think, a court settlement), banks have to show you what they add to the bill for credit card transactions and for ATM withdrawals. However, they don't have to show the 1% "network" charge, because they don't charge it. Make sure in addition to WAMU's 1%, that there wasn't also another 1% from the network.
USA Tue 07/25/2006
Wamu Mastercard Debit Cards Update
Ok folks, I went to Holland and France and had no trouble pulling money out of any ATMs with the new MasterCard debit card. The man on the phone had told me it was a flat $3 fee, but when I got back I found a $3 fee + 1% transaction fee. If you get a "new" WaMu account it supposedly only has the 1% fee.
Dart
Seattle, WA USA Mon 07/24/2006
ATM in Italy
I just got back from Italy and used my Visa debit/ATM card all over. It worked fine. I usually withdrew 360 Euros at a time. When I came home and saw my statement I saw that some banks had a $1.50 fee. The Banco di Lavoro Nationale didn't charge anything.
Rose
USA Mon 07/24/2006
WAMU ATM in Rome
I used my ATM MC in Siena successfully. However, when I got to Rome, I could only use it with certain machines. On the back of the card, I noticed there is no longer StarPlus feature like I had on my VISA. It is only Star. This had limited me in withdrawing cash when I really needed it in a crunch at one point. Also, when notifying WAMU that I was leaving for Italy, they said I have a $500.00 withdraw limit. The banks in Italy would not give me more than 250.00 euros. $317.00. The fee's are something WAMU should go over with you before you leave and they did not. I had called customer service on something completely different and they had noticed in their computer that I was leaving for Italy. They went over two of the three fees. I did not know there was a 3rd fee. They suggested I go to my bank and upgrade (at no cost) my checkfree checking account. This would eleviate the $3.00 fee everytime I withdraw money. So I walked into the bank at the last minute and upgraded. When I returned back to the US, I reviewed my statment and found the 2% fee of using MC and a $3.17 fee for everytime I withdrew cash! I complained but they said that when I upgraded my account, I got rid of a 3rd fee of $3.00. THIS IS NOT GOOD! No explanation of fee's before I left. No clarification.
Liz Corsick <email>
San Francisco, CA USA Fri 07/21/2006
ICICI bank fees
Do they say anything about what exchange rate they use?
USA Thu 07/20/2006
ICICI Canada Bank Fees
According to ICICI Bank of Canada's website, their no-fee, high interest savings account only costs 75¢ per withdrawal at any Interac or Cirrus/Maestro ABM anywhere in the world. I haven't tried it, but so it says.
Jonathan
Ottawa, ON Canada Thu 07/20/2006
WAMU ATM card in Italy
I returned from a trip in Italy a week ago. I was able to successfuly use my new WAMU Mastercard in both Germany (at the airport), and again in Florence. Make sure you notify WAMU, before you leave, that you will be using your ATM card in Italy, otherwise they may think it's fraud and block the transaction. Also, find out what you daily withdrawal limit is; you may want to ask to have it increased.
ML
Seattle, WA USA Wed 07/19/2006
WAMU gold Mastercards
Is anyone having trouble using their WAMU gold Mastercard in Italy ?
thank you
janda
seattle, wa USA Tue 07/18/2006
ATM fees
During my June 2006 trip to Europe, Bank of America charged me a 1% international transaction fee, plus a $5.00 Int non-BOfA ATM transaction fee on every ATM withdrawal, with my ATM visa card. PLUS $4.50 each on 2 ATM denial charges. Also the BA visa credit card charged me a 3% Int. transaction fee on all transactions. My Charles Schwab visa credit card charged 1% on all transactions.
Time to change banks....
Robert Schmutzler <email>
Wenatchee, WA USA Mon 07/17/2006
No Fees (in certain countries)
If you open a Bank of America account, you can use ATMs at Barclays in the UK, PNB Paribas in France, and Deutsche Bank in Germany for free, no ATM withdrawal fees. Just don't use it at any other bank, or it will cost you $5. And do not use the card at a branch location of one of these banks in a different country or you will be charged $5. Used my debit card in Italy at a Deutsche Bank and was charged. Also, Capital One has no conversion fees or % of purchase fees for its credit cards no matter where you use them.
Kyle
PA USA Sat 07/15/2006
Currency Conversion Fees
USA is correct. The is always a 1% network fee buried in the exchange rate. A class action suit a few years ago forced the CC and DC companies to id the conversion fee. Before it was also buried in the exchange rate. Before boasting about no fees make sure you know the correct exchange rate on that day. Free lunches are hard to come by !!!
Frank P. <email>
Centennial, CO USA Fri 07/14/2006
credit card conversion fee
Chris, sorry, but you had to go through one of the agencies, Visa, MC, Cirrus, Plus, etc, collectively know as "the network". These agencies take 1%, what they call a "cross border transaction fee". For that fee, they will also exchange the currency, unless your bank wants to do that and charge you an additional fee. The 1% is not broken out separately, but it is included in the conversion from Euro to Dollars (if your bank converts the currency for you, that fee has to be shown separately).
<email>
USA Fri 07/14/2006
Merrill+ credit card, no conversion fee
Our Merrill+ credit card did not charge an international conversion fee (usually upto 3% with some companies)
Chris
Littleton, CO USA Fri 07/14/2006
Euro or pound in the U.S.
One of my banks still charges the 1% network rate plus a fee that amounts to less than 1%, less than 2% total, for ATM use overseas.
Another bank is now charging 3% plus another 1%+ in fees, or over 4% for cash from the ATMs.
Wells Fargo charges 5% average for cash purchased over here; Bank of America charges about 5.5% average.
I just found a website with links to companies that run the exchange counters at Heathrow. They were charging $1.98 per GBP; that's 8.2% over the interbank rate from Oanda.
Last time I checked the currency exchange counter at DIA wanted an 11% commision.
So, if your bank still charges the 1% plus a small fee for ATM withdrawals, that's the best way to go. If your bank charges 4%, you might want to rethink whether it is worth having to look for an ATM and risk being robbed to save less than $5 for a $500 withdrawal. It is never economical to use those exchange counters at the airport.
Lee
USA Wed 07/12/2006
DAVE...EUROS OR POUNDS IN THE U.S.
I also use my ATM card exclusively for cash abroad, but I have read that the currency exchange in the arrivals terminal at your destination is the cheapest way to buy euro - rather than trying to get them from your local bank. If you want to arrive with euro, you could exchange dollars at the airport you leave from.
Have a great trip!
JP
Fresno, Calif USA Wed 07/12/2006
DAVE...EUROS OR POUNDS IN THE U.S.
Why do you want to take pounds and euros to Europe? You can buy all you want at the airport in London or wherever you land at a ATM in the terminal.
If you buy them from a bank here you pay dearly for them.
USA Tue 07/11/2006
Credit card rejection due to lack of Micro-chip
A bit of help to avoid those embarrasing moments of having your credit card declined.
I just came back from London. I found that there is a new machine hand held credit card machine that requires your credit card to have a micro-chip and also a PIN, inorder for the credit card to be accepted. It's to prevent the use of stolen credit cards, (I'm going to call this the new method of accepting credit cards). I found this in the off the beaten track places, like brick lane/East London where you can get cheap good Indian food. If I went to a more touristy resturant it accepted my visa with no microchip, (I'm going to call this the old method). I also found this to be the case with Southern Spain. So you might find your credit card is not accepted due to a lack of this micro-chip, rather then just being rejected in the country. I'm going to see if I can get a card with the micro-chip for future travel abroad. I hope this helps those who are traveling and relying on their visa.
Amanda Myers <email>
Mpls, MN USA Mon 07/10/2006
London ATM's and credit cards
Our biggest issue with ATM's was finding them. They're not on every street corner the way they are in the US and our hotel didn't have one. Your best bet is to take care of it in the tube stations, although sometimes the machine will not be on the street level - you won't come across it until you've already gone through the turnstiles. Wells Fargo charged us $5 for each transaction and limited us to $310 per card per day, which was only about 160 GBS. We used 3 VISA's and our Capital One Mastercard. Only the MC didn't charge us a transaction fee. The exchange rate on all of our transactions was virtually identical to the rate posted in American newspapers.
Sunnyvale, CA USA Sun 07/09/2006
AAA Visa Travel Money Card
The AAA Visa Travel Money Card is a terrible deal! Read the fine print. In addition to a flat fee for using an ATM, they take a 7% (seven percent) exchange rate commision, including the 1% network charge.
The American Express Travel Money card is a much better deal financially, but you will have more trouble finding ATMs that take them. On the other hand, you can find these ATMs in advance on the American Express website.
USA Fri 07/07/2006
ATMs and Credit Cards
My wife and I spent 10 days in Moscow and St. Petersburg, Russia in October 2005. Some of our research suggested that using our personal credit and ATM cards could lead to identity theft and expose our financial accounts at home. Before leaving home, we purchased pre-paid VISA TravelMoney Cards from AAA. Just like travel checks, they could be replaced if lost, and they worked in any ATM for getting local currency. Best of all, there was no way to tie the cards to our bank or credit accounts at home.
Ed Mund <email>
Olympia, WA USA Thu 07/06/2006
WaMu ATM card update
I have returned from a wonderful 3 week trip to Italy. I was able to use my WaMu MC/debit gold card with the STAR logo- no problemo.
I used it at the Rome airport, terminal C, in Siena & Montepulciano.
I just checked my online banking ledger & for a $250 Euro transaction, was charged $2.53, $3.13 & $3.14 fee(depending on the exchange rate)
A friend needed more than 250 Euro when she withdrew her $$. I suggested she repeat the procedure at the same ATM location & it worked. (Seems that 250 is the highest amount you are able to withdraw per transaction.)
Be sure to wear a $$ belt to stash your extra cash.
Hope this info helps other travelers
R
USA Wed 07/05/2006
AAA Money Exchange
Lisa, don't believe it. They may have charged you THEIR exchange rate with no fixed fees, but I am sure their exchange rate was higher than the interbank rate. It is probably the exact exchange rate they had to pay to some bank.
Last time I checked at a AAA office, they were slightly higher than Wells Fargo, which charges an average of 5% over the interbank rate, but the difference wasn't worth a trip to the main WF bank in town.
When (date) did you make the exchange? How many Euro did you get? How many dollars did you have to pay? You can find the official rate for that date on Oanda.com.
<email>
USA Wed 07/05/2006
ATM/Debit card
I just returned from 3 weeks in Italy (Milan,Venice,Parma,Florence,Rome)and I used my debit card the whole time. It was necessary to look for a machine with the Plus logo, but once located there were no problems. Except however, in Florence. The machine used did have the plus logo, but I was charged a fee of almost $10 US dollars for each withdrawl. Who knows what happened. All of the other cities there were no problems. I did take a duplicate card as suggested but never used it or needed it.
Jana
Spokane, WA USA Tue 07/04/2006
Current Canadian Fees
I called Royal, CIBC, HSBC, TD, Citibank and Capitol One.
ATM fees for international withdrawls vary: CIBC was the worst, at $3 per withdrawl with an additional 2.5% of the amount withdrawn. That means on a withdrawl of $1000CAN, you're paying $28 in fees, PLUS a possible fee levied by the bank machine you use! No thanks!
Cheaper options: 1) a Citibank chequing account, which you can apply for by mail, is the cheapest at 50 cents per withdrawl and that's it! They have banks in Europe, and withdrawls through their atms will involve no other cost. Next best: HSBC, at $4.00 a month for the account and a $3.00 flat rate for each international withdrawl, and then Royal Bank and TD, both of which charge $5.00 per withdrawl. Note that if you switch to TD before the end of August, you can get a free Ipod shuffle...and remember, each withdrawl at a foreign atm can incur another fee levied by that atm, in addition to what I've listed above...
Credit Cards: Every credit card issued by the banks I called charges, on international purchases, 2.5% of the purchase amount...so if you spend $100 daily by credit card for a two week vacation, you'll pay $35 in fees.
Cash advances on credit cards should be avoided at all costs...not only are you charged interest right away, most cards charge $3 or $5 PLUS 2.5% of the amount advanced. So if you withdraw $1000 and pay it a month later when you get home, your fees and interest will be about $28 in fees and $15 in interest. Yuck! TD Visa was best at just a $5.00 flat fee. A Capitol One card charges only the 2.5% on purchases and cash advances, no flat fee (but the 2.5% is the much bigger charge anyway, so not much of a savings there...)
TD, PC Financial (which doesn't do foreign transactions) and CAA all issue Traveller's Cheques for no commission if you pick them up...and some other banks will too, if you are a senior. I'm heading to Europe for 65 days with my senior mom, and we are taking half our expected spendings in traveller's cheques, and half is left in our Citibank chequing account. We are taking credit cards to use only if the local exchange rate offered is SOOO bad it'll make up for the exhorbitant fees we'll pay...
Zoe King
Ottawa, On Canada Tue 07/04/2006
Using Debit Card
We just returned from a 2.5 week trip from Europe. I tried to use my debit card in Sweden and two places said it wouldn't work. It has the MC logo on it, and I use it for purchases everyday here in the US. Every other country it was fine- even in the UK duty-free shop at the airport. Didn't have an issue with ATM's at all. Just be safe and have two cards with you. One debit and credit. Also, many places do not take a credit card on purchases less than 20 USD.
LJ
Chicago, IL USA Mon 07/03/2006
WE ARE MOVING TO FRANCE THIS MONTH AND HAVE OPENED A FRENCH BANK ACCOUNT,BUT OUR BANK HERE WHICH IS BARCLAYS SAID WE CAN USE THE ATM MACHINES(DABS)WITH BNP BANK AND NOT BE CHARGED A FEE AS THEY HAVE AN ARRANGEMENT WITH THEM.
MRS S RADBURN
GB Mon 07/03/2006
LISA....AAA MONEY EXCHANGE
Carrying $500 with you may be OK for you, but not for me.
I don’t like carrying $500 in euros while traveling. That would be a week’s worth of currency for me so I wont do it.
I use my credit cards for purchases almost everywhere. Why risk it when I can withdraw $100 or $200 every few days as needed?
Getting the currency free is not worth the risk when the ATM fee is so tiny.
MARYANNE W.
RENO, USA Sun 07/02/2006
AAA money exchange
To AAA members,
I am getting ready for a trip to Italy and I went into a AAA office to order Euros. If you order them in advance, and order a certain amount (I think it was $500), you get the exact exchange rate without any fees. The office said it would take a couple of days, but the euros were available the next day. This is a great alternative to the expensive atm fees we would have encountered at the airport on arrival.
Lisa <email>
Manchester, CT USA Sun 07/02/2006
WaMu
For everyone that successfully used their WaMu MasterCard Debit Card in Europe; which ATM machine's did you use? The one's with the PLUS or CIRRUS logo?
The card only has the STAR logo on the back and when I went to STAR's website, it says it can only be used in the United States.
Dave
USA Mon 06/26/2006
Citi special credit card programs
I have a Citi dividend dollars card that give 5% cash back on grocery stores, drug stores and gas stations. They just added a special promotion for the summer to give 5% cash back on hotels and restaurants. They do have a 3% fee on foreign transactions, but with the cash back, we'd still come out ahead as long as our European restaurant and hotel charges really count for the program. I called and they claim they will, but I haven't been yet, so I don't know for sure. Anyhow, just something else to look into for those looking for a good card to use overseas. I'd love to hear if anyone has had success with this card.
Robyn <email>
USA Fri 06/23/2006
ATM withdrawal in East Europe
I had successfully use ATM/debit card in Prague airport T2, Krakow train station, EGER at SPAR without problem.
When withdrawing at Prague, first time not successful because the machine dispense cash at multiple of Czt 200. Try again with 8800 works.
I'm based in Singapore and I'm using a UOB 1-2-1 ATM/debit card. For first 3 international withdrawal of the month, no charges.
chialc
sgp Wed 06/21/2006
AAA credit card
If you are a AAA member, look into their Platinum Plus Visa (for situations where you can use credit). Unlike most American CC's, this one has only a 1% fee on foreign transactions. (For cash advances, it's only on the Cirrus network, which I don't think is very common, but I'm not sure about that.(
Robyn
USA Tue 06/20/2006
7 % foreign exchange Visa ripoff!
In researching the AAA VisaTravelMoney Card if found the horror in the fine print:
"The exchange rate used is the wholesale money market or the government-mandated rate increased by 7% (including the VISA handling charge of 1%)."
This is the worst I have seen for a debit card. It is offered by AAA Iowa/Minnesota. This is in addition to the $4.95 activation fee and the $2.00 ATM withdrawal fee.
I discovered the 7% after reading about all the other fees and finding the "click here" button for even more fees!
Chip
IA USA Tue 06/20/2006
Credit cards not accepted in many Italian restaurants
Just come back from a trip to Puglia, Italy and found that virtually no restaurants would take credit cards. Some were obviously too small but others said something about their machines being broken or a bad phone connection! Luckily we could access cash via ATMs but we would have been in real trouble if we had been relying on credit cards. I just wonder if we had simply said that we had no cash (for a 60 Euro bill) would some of the machines magically have started working?! Is it very costly for Italian businesses to accept credit card payment?
jenny
Cumbria UK Tue 06/20/2006
WAMU Mastercard
Just returned from France and Germany. I had no problems using my WAMU Mastercard to obtain cash. Paris and Munich both had many ATMs to choose from. I called WAMU before I left and they said they charge 1% for ATM withdrawals.
Caroline K
Chandler, AZ USA Mon 06/19/2006
Use A Credit Union Card
I joined a credit union, opened a checking account, and used their Visa Debit card for my ATM and paying most bills. Because it was a Visa card, I had the option of using it like a debit or credit.
My credit union only passed on the Visa 1% charge for foreign transactions. It did not add any charges. This saved me about $90+ versus my MBNA card that I was planning on using.
My credit union card used the PLUS system. You can google "Plus system atm locator" and find plenty of locations overseas.
In summary, if you can join a credit union through a friend, your employer, etc. check their foreign fees. Open an account. Get the debit card. Put $ in the related checking account (so you have something to withdrwal). And save fees!
Scott <email>
Tampa, FL USA Sat 06/17/2006
WAMU problems
Just returned from Spain, and had a terrible experience with the new WAMU gold MC. Was in Nerja without a car for 8 days and it didn't work in any of the many ATM's that I tried. Calls to WAMU were useless. We didn't have cash for 3 days, and most casual restaurants just don't like credit cards. The ATM's just don't connect with the Star system, whatever WAMU tells you. We finally switched all to Cap One and then all was well. Next trip I'll do BofA, which I understand is better overseas.
Joan <email>
Snohomish, WA USA Fri 06/16/2006
Re: Michelle - B of A/Global Alliance ATM fees
Michelle - it does seem to good to be true but it's not. I used my BofA ATM card at Barclay's in London and BNP Paribas ATMs in Paris. No additional fees beyond the 1%! Look out, though, using those non-alliance ATMs. I used one in Amsterdam and the fee was $5.25 just to take out E20 on my last morning for a cab!
C
USA Wed 06/14/2006
B of A/Global Alliance ATM fees
I just called my bank (Bank of America) to ask about what kinds of fees to expect to have to pay for using my ATM card while travelling this summer. I was told that for ATM withdrawls, there is only a 1% conversion fee... Plus a $5 fee IF I use a non-global alliance machine. Then the rep went on to list the names of a good number of banks within this alliance (meaning they won't charge the $5 fee) in each of the 5 countries I'll be in (Netherlands, Belgium, Germany, Austria, Hungary and the Czech Republic).
I thought this seemed like a pretty good deal (1%!)... Almost too good. And it seems like finding Global Alliance machines won't be too difficult.
The gentleman I spoke with was very helpful. He answered lots of questions for me, and wished me happy travels!
Michelle <email>
Seattle, Wa USA Mon 06/12/2006
Currency Exchange within the US
I have been doing some research on how to obtain foreign currency prior to leaving the US.
Since it enables you to have some flexibility in payment and also have a back up incase one of the other forms of payment do not work. For example in my case, I might not have time between flights to change currency so it take care of one less thing I have to do while I travel to my final destination.
However, do remember you are walking around with cash that thieves love to steal.
My state has the advantage of being one of the headquarters of 2 Major banks. I was surprised to find that Wells Fargo offers currency exchange at a very reasonable rate with just a one time $5 flat fee (subject to change, if you don't bank with them, "free" if you do bank with them) and you can exchange up to 5K in almost any currency. You can do it the same day, in any size ($50-5K) and walk out with exactly what you need. Also you can get the money in smaller denomination, for example at this location they have a 5 (Euros) as their smallest denomination. They also hold alot of currency in stock at least at the Minneapolis headquarter. It might be worth a call to your local bank to see if they have a Main bank headquarter that you can do such an exchange.
This beats the currency exchange offered on the AAA website where the exchange rate is less and the smallest amount you can do is $300. Also their is delivery time (2 days).
It beats the AIRPORT of course.
Happy travels!
Amanda Jones <email>
Minneapolis, MN USA Mon 06/12/2006
Capital One Visa Card
Rick's comment about Capital One is correct. Capital One Visa's conversions of charges in GBP (England) to UDS (dollars) seem very close to the interbank rate without the currency conversion mark-up.
Captial One is also very careful about potential fraud and will call to verify foreign transactions. They suggest calling their Fraud Department to advise them about your foreign travel 30 days before departure. The downside is the telephone hold time to talk to a person.
Edgar <email>
Medford, OR USA Fri 06/09/2006
WAMU ATM Card
WAMU new Mastercard ATM worked great the last two weeks in cash machines across Italy and London. So far WAMU has charged us nothing except Mastercard's 1 percent fee.
Kerry <email>
Seattle, Wa USA Thu 06/08/2006
AmEx & Visa refused capriciously
Just returned from Madrid, Cordoba, Granada. Many times restaurants refused AmEx card, saying it "wouldn't print" or go through, even though they posted that they take AmEx. The card was valid, as train station took it. Also Hostal Landazuri in Granada refused all cards, saying 'no electricity for credit card machine.' (But she had charged my card for first night six weeks in advance.) I take these ruses as proprietors avoiding fees.
Suzaan Boettger
NYC, NY USA Mon 06/05/2006
Bank of America & Wells Fargo in't ATM fees
Lynn, when I checked recently, WF was charging 2% for "currency conversion" on ATM withdrawals in Europe. That's on top of the 1% that the network charges.
It should be noted that the network will convert the currency as part of the 1%, but WF and some other banks prefer to pay the network in Euro so they can charge us for currency conversion.
CO USA Sun 06/04/2006
ATM fees
If you live in the Chicago area Harris Bank ATM charges a 1% conversion rate plus whatever the local ATM in Europe charges. I will be travelling this summer- I'll let you know if this is true! It sounds like a pretty good deal compared to some other banks. We will be travelling with some cash as well. Wells Fargo charges 8.00 flat rate to overnight your euros and the exchange rate is pretty good.
LJ
Chicago, USA Sat 06/03/2006
Bank of America & Wells Fargo in't ATM fees
Just got back this morning from Germany, France, Greece & UK...
I have Bank of America & Wells Fargo bank accounts. BofA has a no-fee international ATMs and that's great but beware if you are in need for cash and those no-fee ATMs are no where in sight. Bank of America will charge you $5 PLUS a 1% charge. For example, if you withdraw 220 euros = $282.33(this amount varies per day). The ATM fee will be 2.82 + 5.00. Pricey eh? I did this twice in Germany and I'm still pissed off about the charges. Of course when I withdrew $ from their Global ATM Alliance - then that was great cuz there was no charge.
Wells Fargo charge a $5.00 flat fee.
Lynn
Los Angeles, CA USA Fri 06/02/2006
LIMIT ON WITHDRAWING EUROS IN ITALY
Jill. Your bank sets the limit on withdrawals each day.
Call them and ask. Foreign banks usually don t do that.
DL USA Wed 05/31/2006
free atms
I was looking for a good atm card for travel and found out that First Republic Bank has a checking account that refunds all fees when their atm card is used anywhere in the world. It is also a debet card so it can be used for point of sales charges also without fees. The account is free if you keep an average ballance of $2,500 in the account. If not it costs $15/month. I have a friend who has used his atm card in europe and africa without any fees.
Scott
Petaluma, CA USA Wed 05/31/2006
Global Alliance ATMs
We just returned from a week-long trip in London, Paris and Amsterdam.
Luckily as a Bank of America customer, I could use Barclay's ATMs in London and BNP Paribbas ATMS in Paris at no charge. (When I returned home, I found that a 100 Euro withdrawl in Paris cost $127 - right at the bank's exchange rate). No ATM usage fees or anything!
The exception was Amsterdam. There was no Global ATM Alliance member there. We got cash before leaving Paris to have on our final leg but ran out of it and found ourselves in need of $20 for a cab to the airport the last morning. The ATM in Amsterdam charged over $7 in fees for this small transaction. Lesson learned!
If you bank with a global ATM alliance member, make sure you get enough cash so you don't have to pay exorbinant fees at a non-member ATM!
USA Wed 05/31/2006
For CL Withdrawing Euros in Italy
Someone in this forum mentioned that if you ask for more Euros than you can get, you'll be cut off for the day. I'm going to Italy. How many Euros did you find you could get from an ATM there?
Jill
USA Wed 05/31/2006
ATM/Fees
Remember, also, that your banks' definition of a day might not correspond with the calendar day in Europe (or for the time zone where you live, for that matter). One of my banks in Denver uses 4 AM mountain time. That's noon in Europe, so any withdrawal in the afternoon would count against a withdrawal the next morning.
<email>
CO USA Wed 05/31/2006
VISA CHECK CARD WITH STAR LOGO
The system names on the back of your card indicate the system you should look for on the ATM machine. I use an ATM card so I am not sure about Visa card use in a machine. Your bank’s advice is best.
In my recent visit to Russia, Estonia and Scandinavia I used my ATM card as easily as in any other European country. In fact in Moscow and St Petersburg we had a choice of withdrawing rubles or dollars.
In 15 years of using ATMs I have learned that my card will NOT work in every machine. But I know how to find the machines which will take it.
The systems used by banks will vary from town to town and from bank to bank within the towns. The machine will tell you which ones it will accept.
If you read the label on the front of each ATM machine you will find the systems which it accepts.
The name of the bank makes no difference. It is the system that counts.
USA Mon 05/29/2006
ATM/Fees
I recently returned from Italy - used my credit union debit/Visa card to get money without any problems - it has the Star, Plus, and Interlink logos on the back. My credit union did not charge for any transaction (cash or debit purchases), and it appeared I got the bank rate exchange. Just make sure you tell them where you're going before you go. Also, some people in my group had issues with ATM withdrawls - it may be you have a daily limit on cash (and with the exchange rate, it's less dollars than you think), so try a lower amount before giving up.
CL
Salem, OR USA Sun 05/28/2006
VISA card not good everywhere
While traveling in Southern Holland Belgium and Norway We were suprised by the many restaraunts and shops that WOULD NOT TAKE VISA CARD. This caused a few more trips to the ATM to get some EUROs and Krone. These we supposed upscale places..It was a great trip though!
Jeff <email>
Arlington, WA USA Sat 05/27/2006
More ATM .....
David,
The new WAMU gold Mastercard / Debit cards only display the STAR logo. My former Visa Checkcard from WAMU used to also display the STAR, PLUS and Interlink logos and I NEVER once had a problem as I traveled throughout Italy last summer.
Your right, it probably would be a good idea to carry two checkcards ...... just in case.
Again, I am eager to hear of ANYONE who has used WAMU's gold MC checkcard internationally (especially in Spain).
Thank you.
advisorbarnone
USA Sat 05/27/2006
WAMU
advisorbarnone,
I can tell you now that my WAMU ATM card has PLUS, STAR, and Interlink and the ATM's I was using I believe supported at least one or the other, but none of the ATM's allowed me to withdraw money. I kept getting responses from the system stating that accessing that bank system has been blocked or something to that effect. As mentioned in a previous post, the only ATM I got the card to work at was a Citibank ATM.
My thoughts on the matter is, bring the WAMU MC card with you and try it. If it works as an ATM card, GREAT! If not, at least you can continue using it as a low rate credit card. In addition, have the BoA ATM card as a backup. Considering the cost of travel in both time and money, are you really willing to put all your eggs in one basket? You should always carry a backup in your luggage incase you have your primary card stolen.
Speaking from personal experience, I ended up having to utilize a currency exchange office because I had no other ATM card before I found the Citibank branch. Luckily I had a coupon that allowed me to exchange fee free, but the rate of exchange was not the greatest.
The WAMU CSR's can assure you all you want, but when it comes down to it, what good will assurance do you when the card does not work and you are thousands of miles away from the nearest WAMU? If you have limited cash, have a trusted friend/family back in the US deposit a check from WAMU to BoA when you find out which card works. Just my two pence on the matter.
David C.
Monterey Park, CA USA Fri 05/26/2006
Thanks
Thank you for posting this information R! I also called this 800 number and spoke to a very nice representative regarding my concerns, and she was rather curious as to why WAMU would issue MC debit cards without the Cirrus logo? She checked and apparently there are plenty of ATM machines in Spain (Pamplona, San Sebastian, Bilbao and Madrid). The questions remains: "Will I be able to draw money from them?" She could not guarantee this.
I looked at WAMU's site and it assures their customers that their new gold MC / debit card can be used worldwide as long as the STAR, CIRRUS, or Maestro logos are available. I'm not sure how common this is in Spain?
Good luck R and I wish you safe travels! When you return, please let us all know about your trip and the experience with WAMU's Debit card.
I
advisorbarnone <email>
USA Fri 05/26/2006
WaMu Debit/atm MC
Update on phone conversations concerning gold WaMu debit/atm MC.
I called the MC Global Service 1-800-622-7747. I explained to him my card had a STAR logo only on back of my card. He stated that STAR is accepted at Cirrus ATMs. (really? i hope so - Can anyone verify this for me?)
I then called the WaMu 1-800-788-7000 to check to see what my daily limit would be & to clear the card for overseas travel. (FYI he said it would take one business day to do that)
He also told me that there is a 1% Fee charged for the amt of withdrawal &/or any purchase when using this card (plus the individual atm chg whatever that it is, it varies...)
Call the MC Global # to check on your specific accts.
Happy Travel$ everyone
I will let you know if card this actually works - when I return
also thank you to everyone who posts their info It is VERY helpful !
R
USA Fri 05/26/2006
Amex/Discover/Mastercard/Visa Availability Impressions (London and Paris)
I thought would share my credit card usage experience in both London and Paris. Before going, I checked with both Amex(Blue) and Citi(Diamond Preferred Rewards MC) to find out what my transaction fees would be. Both Amex and Citi would be usable overseas and the only fee charged per transaction was 2% for Amex and 3% for Citi. With this knowledge I knew my order of payment preference: Cash from ATM(1%) > Amex > Citi.
With larger transactions, you really want to use your credit cards since you have to worry about ATM daily limits and save the cash for vendors who do not accept cards at all. To my surprise, many, but not all, of the larger/major retail stores, gift shops, tourist attractions, tourist agencies, and restaurants do accept Amex. After my trip, most of my transactions had occured on my Amex rather than my Citicard. The other cool thing was I was finally able to use the smart chip on my Blue card which I have not been able to use in the US.
You would never however run into a situation where Amex was the only accepted card like Costco. My impression was Mastercard was the most widely accepted card in my opinion. Everywhere that accepted credit cards accepted Mastercard. Visa was also accepted by many of the same vendors but not always. I would venture to say about 95% of Mastercard vendors would also accept Visa. This is not to say there are not any Visa only vendors, but I did not encounter any.
Discover on the other hand is completely non-existent. I do not believe I ran into anything that accepted or knew of Discover. I even ran into a restaurant that accepted Diners Club but not Discover.
One thing I did find useful was Frommer's guidebook which lists attractions, restaurants, etc and what cards they accepted. Although you may not want to restrict yourself based on payment methods accepted, it does help you prepare the card you need to have on hand. In my case, it gave me an opportunity to take the card out of my Rick Steves money belt before entering the establishment instead of fumbling for it at the point of purchase.
Generally speaking, it is best to carry more than one credit card with you incase you run into spending limit or a vendor that does not accept one card or the other. In addition to an ATM card, if I could only have one credit card, I would choose mastercard. If you have a card with a low percentage transaction fee and high limit, even better. If my Citicard had a lower fee, I most likely would have used that card more often.
To look into cheaper rates, you may wish to look into getting a mastercard from a larger credit union as I have found family and relatives who have cards with no transaction fees at all. They have commented that these fees are absorbed by the credit union as a benefit to their members.
David C.
Monterey Park, CA USA Thu 05/25/2006
WAMU's MC Check Card -- I'm STILL not getting a straight answer!
Thanks R. I read the information that you posted re: Star Network. Sooo .... once again, proceeded to speak to my WAMU representative who once again assured me that if the ATM machine is designated with a Cirrus sign, than we "should" be able to use the ATM.
I don't know about any of you WAMU customers out there, but I can tell you that I am not feeling terribly secure about the contradictory information. If ANYONE out there has information about WAMU's new MC, please let us know. I'm with "R", all I want to be able to do is take money out of the ATM machine while I'm abroad.
I'm leaving on July 4th to Spain, and honestly, if I cannot get more information, or simply don't feel 100% secure, I'll go to B of A and open up a checking account there (apparently, their Checkcards have the owners picture on it now).
advisorbarnone <email>
USA Thu 05/25/2006
No ATM fees in London
Just FYI, most ATM's in London do not charge fees for ATM use even if you bank with somebody else. This is in contrast to ATM's in the US where we sometime see fees as much as $2.50. It almost seems like a standard in the UK that ATM's, including Citibank's, do not charge fees for use. If you bank in the US and are desperate to find a working ATM like I was, try seeking out a Citibank ATM.
Just be careful that you check with your bank first to ensure they do not charge a fee for using someone else's ATM or a foreign ATM fee.
David C.
Monterey Park, CA USA Thu 05/25/2006
WAMU Free Checking ATM Only Card in London
I converted my account to the new Wamu Free Checking(The one that forgives annually an overdraft and no ATM fees for foreign use) and had great difficulty using my ATM only(No mastercard) card at many of the ATM's in London. I chose against using a checkcard because I figure if the card was stolen, the thief would need to know my pin in order to use it.
I made a long distance call from London back to the US to find out what was going on. Had the CS rep "enable" my card in Europe but still no luck. My card and the ATM's I was using supported 'PLUS' and 'STAR' but still no go. I used about 5 different ATM's including Barclay's but to no avail.
The ONLY bank ATM I was able to use the ATM card at was a Citibank branch I had found somewhat near Picadilly Circus. When it works, its a great deal with the only fee is the 1% of the withdrawal amount and with what seems to be the full exchange rate.
David C.
Monterey Park, CA USA Thu 05/25/2006
atm/STAR logo
http://www.star.com/index.cfm?go=atmLocator.International
I too recently obtained the gold MC from WaMu. The banker on the phone & also the teller at my branch, assured me I could use it globally... Now I read online that the STAR atm is available in the US only geez what am I to do? read one thing, told another.. very annoying.
all I need is an assurance the cards I take will allow me to obtain Euros when needed...
R
USA Thu 05/25/2006
WaMu MasterCard Debit Cards
The latest I heard from the new WaMu cards is a flat $3 ATM withdrawl fee that they say will work wherever there is a MasterCard logo, and no fee for credit card transactions.
This is what they said over the phone, but I haven't tried it yet!
Dart
Seattle, WA USA Mon 05/22/2006
VISA OR AMEX CARD
Katie: get an ATM card and forget the others. You can withdraw money from your checking account many places in Europe.
Be sure to talk with your issuing bank to learn all you need to know about using it.
You can get one quickly at most banks.
Don’t buy travelres cheks ; no one uses them any longer.
USA Sun 05/21/2006
Global ATM alliance... not so many charges if you have a BoA account and use these ATM's...
Bank of America (US), Barclays (UK), Deutsche Bank (Germany), ScotiaBank (Canada), Westpac (Australia) and BNP Paribas (France) are all part of the global ATM alliance...
linky http://www.scotiabank.com/cda/content/0,1608,CID8040_LIDen,00.html#members
TomB
Jersey City, NJ/ Swords, Co Dublin, Ireland, USA Sun 05/21/2006
Don't rely soley on AmX card
Katie - my teen daughter and friends traveled Europe last summer. At that time many places in Italy did not take AmX. One of her friends had an AmX and a pre-loaded Visa. She had to call home to get more $ put on the Visa as she had used it almost exclusively.
And for everyone who is concerned about one card not working, if it is at all possible, get a second card of a different type or different bank. Use that as your backup as opposed to traveler's checks or big amounts of cash. For students - since you can get free checking at most banks, open accounts at two different banks and get a Visa check card from each bank. My daughter did use both of her cards throughout her 3+ weeks in Europe.
USA Sun 05/21/2006
VISA or AMEX?
We've used our VISA in Rome w/ no problems. Our son used a pre paid AMEX in Germany last summer w/ no problems.
Our 15 yr old will be in Rome for 2 weeks in June. Is AMEX accepted at as many places as VISA? We need to get her a pre paid card soon. Any recommendations on the best one for a teen?
Katie
Baltimore, MD USA Sat 05/20/2006
SIMPLIFYING ATM USAGE IN EUROPE
USING ATMs in Europe is not complicated. Check the back of your card (not credit or debit card) for the systems in which it will work.
If you read the label on the front of each ATM machine you will find the systems which it accepts. Quite simple.
The name of the bank makes no difference. It is the system that counts.
PA USA Thu 05/18/2006
WAMU ATM & STAR
I just confirmed with the Star ATM network person they have no overseas ATM machines. I talked to a person at WAMU who would not confirm this. My new shiny gold WAMU MC debit card may be useless for my traveling cash needs. Has anyone had success using the new WAMU ATM card overseas ? thanks
Johann <email>
Seattle, wa USA Tue 05/16/2006
ATM in Budapest and London
I have the Select Service Account with TD Canada Trust which does not charge ATM fees for overseas withdrawals using my debit card. I used a Barclays Bank machine at Heathrow Airport in London and a local bank in Budapest the next day and checked my bank account on the Net the same afternoon. The rate in both cases was excellent, better than exchanging straight cash getting the best available local rate...and I was not charged any additional fee which is now, for each PLUS debit, CDN 5 bucks as of May 1st
Barry
Vancouver, Canada Mon 05/15/2006
I used our ATM card exclusively through Germany, Belgium, Netherlands, Luxembourg and France on our 12/05 trip with no problems. We got some Euros before we left, but just enough to get through our first day.
Before we left, I looked at our Bank's website, and went to the websites of the "emblems" on the card (Cirrus or Star, etc.) and looked up the cities we would be in. I found there was no limit to the locations to pull cash, and basically, it told me the names of the banks. So, using the websites, I found in advance that ING had locations everywhere in Belgium, and I would just go to those bank machines in Antwerp, Brussels, Bruges, and even Bastogne. Of course, if I needed cash elsewhere, I would look for the Cirrus symbol - I never had a Cirrus-network ATM machine reject my withdrawal request.
I used the credit union for withdrawals, and was charged $2 for each withdrawal for non-network ATM. When we returned, we found that the exchange rate was pretty much that day's interbank rate - we didn't find a 1% extra for Visa's role. When we used BofA the trip before that, the bank charged us about 2% more than interbank, in addition to the ATM fees.
If you use BofA, there is a bank chain in Germany and (I think) the UK that doesn't charge the ATM fee to BofA customers - the "no-fee" foreign banks are given on the BofA website.
Know your ATM limit in advance and know the general Euro equivalent - great advice. I'm lucky, the credit union is $500 per day, so I can only pull about 380 Euro at a time. BofA only allowed us $300 a day, which wasn't a lot of Euros, and cost us fare more in ATM fees since we needed to go more often.
Rebecca <email>
OH USA Sun 05/14/2006
ATM
Quick reminder - learned the hard way - Many Banks/ATM accounts have a daily limit on withdrawls - but, you must remember that you're operating in Euros. If your limit is $300 a day you can't ask for more than $240 Euros....
Or - you're cut off for the day....
Greg
Bellevue, wa USA Sat 05/13/2006
ATM use/online banking tips
I went to Paris and and Haarlem/Amsterdam in 2001, so this info may be a little out of date. At the time, I used my debit card (Visa logo) at several hotels successfully and withdrew cash from several ATMs in both locations, no problems. I was charged the standard non-UFCU ATM (my credit union is UFCU) $1 fee. I don't recall there being any special fees for foreign currency and the like. The one thing I did make sure to do was to check out all of the various networks that my credit union was linked to (Cirrus, etc.). As long as the ATM I went to had the logo, all was well. It's worth noting that many banks are now international and you shouldn't have much trouble.
As for the savings account/checking account issues may I suggest this: go to an internet cafe and logon to your bank from there and move the money from your savings to your checking or vice versa. If you're worried about doing it from a public terminal (and you probably should be careful) just arrange to send an email to someone back home to do the transfer for you. You can also use Western Union online (I don't know about the fees, but its an option). I believe they also offer prepaid cards with a Visa logo. Mainly, I'd say don't forget the power of the internet to help you with your banking/money issues.
Dave
Austin, TX USA Sat 05/13/2006
ATM's need to be linked to Checking
It is my understanding that ATM cards MUST be linked to a checking account in order to withdraw funds while in Europe. We set up my young daughter with an ATM to withdraw from her savings while in London and she was unable to do so, despite talking in person with a bank rep and telling her this was the reason we were opening the account. We have no problem accessing funds from our interest-bearing checking account and our kids are able to withdraw from their (free) student checking accounts.
USA Wed 05/10/2006
ATM
UFB Direct will issue an ATM card (not a debit card) that is linked to both checking and savings; do the ATM machines in Italy give a choice from which account to withdraw funds? I believe the UFB savings account only allows 7 free withdrawals during the month, whereas the checking account has unlimited monthly withdrawals.
Mark
Orange, CA USA Sun 05/07/2006
Credit Card Fees
I was reading my credit card list of fees last night. It is a 3% charge for cash advances (ATMs) and 3% for foreign currency transactions plus the exchange rate they use. I'm thinking I need to look for another card.
(Ed Note: Capital One currently has the best fee structure as of 5/4/06)
FtWorthGuy2
Ft Worth, Tx USA Thu 05/04/2006
WAMU MC ATM card
Has anyone used the new (used to be a VISA, now a MC) Washington Mututal ATM card in Italy? It has a STAR logo on the back and apparently the STAR network isn't supported internationally. However, the customer service rep that I spoke to on the phone assures me that the ATM card will work on any ATM displaying the MC symbol. I sure don't want to be stuck in Italy for 2 weeks with a non-working ATM card and would feel a lot better if I knew that someone with the same ATM card was able to use the local ATM cards. Anyone tried it?
ML
Seattle, WA USA Wed 05/03/2006
Capital One Fees (non-US issued)
My Capital One MC charges the same 2.5% for foreign purchases. Too bad that nice CC benefit isn't available in the entire Cap One world!
Herb <email>
Calgary, Alberta Canada Tue 05/02/2006
Federal blocking of ATM cards
We were recently in Canada for a baptism. We go there regularly since my wife is from there. Imagine our distress when we discovered that our ATM card did not work, either as a cash machine card or as a credit card - we called and were informed that it was blocked - not just ours, but ALL ATM cards from outside of Canada. AND, we were informed that most European countries are aslo blocked. From what little I have been able to determine this is a policy emanating from the bowels of our wonderous federal government - but no one (even the banks) can tell me where to find out which countries are blocked, how long, why (other than some issue of massive fraud) etc. -Anyone know about this? AND - check with your bank before leaving - or you may find yourself embarrassed and borrowing on the credit card or from friends like we had to do.
(ed. note: In early March 2006, Citibank temporarily blocked pin transactions in Canada, the UK, and Russia due to a security breach. It was quickly resolved, and we are unaware of any current large network outages affecting international transactions as of 4/28/06)
Dennis Rizzo <email>
Mount Holly, NJ USA Fri 04/28/2006
Credit/Debit Cards
However, one thing to be very careful about: many places simply swiped our cards and asked for no identification, no PIN number, and did not verify our signature. If you loose your card, it would be very easy for someone to use it. Twice we bought train tickets using the German railroad's automated machines; again, we inserted our debit card and the machine required no PIN entry - ANYONE could have used our cards if we had lost them.
Steve
Richmond, VA USA Wed 04/26/2006
ATM/Debit Cards
My wife and I just returned from a two-week trip to Brussels, Cochem, Rothenburg and Munich. My credit union VISA debit card and her Wachovia VISA debit card worked every place that accepted VISA - stores, restaurants, gift shops, ATM's (that are on the same network), and the German railroad automated ticket machines.
Steve
Richmond, VA USA Wed 04/26/2006
Ask your bank lots of questions.
Talk to your bank and ask how to minimize fees. Sometimes carrying a slightly higher balance will get you better rates. Sometimes you already qualify for the better rates, but you have to ask. Banks are not good at telling their customers how to lower fees.
Also ask if there are overseas banks that are cheaper to use for ATM withdrawals.
Check into raising your daily withdrawal limit and take out more money less often to minimize fees.
Find out what your bank's policy is on ATM theft. My bank will eat the loss.
Reread Rick's advice http://www.ricksteves.com/plan/tips/moneytip.htm
Chip
Davenport, IA USA Wed 04/26/2006
AMEX Cash and Debit Cards
The exchange rate might then be fixed, but I've noticed here that the exchange rates quoted by the AMEX 'outlets' for dollars/GBP are a good deal worse than what I got from my bank when wiring money from the US to the UK. So it might not be a good deal in the end - especially if the dollar gets stronger, which it has of recent.
Yes, you can use your debit card to withdraw from most ATMs, but you most likely cannot use it in a store - you'll need cash or credit cards to make purchases.
Kate
Kate
Scotland Sat 04/22/2006
AMEX cash
It has been recommended to me to purchase an AMEX pre-paid card in Euros, therefore there is no question about the exchange rate, and it can be used as a credit card or to withdraw cash from an ATM.....their site says it can't be used in France, however.
Wendy
Seattle, WA USA Sat 04/22/2006
ATM & Credit Cards: Minimizing Fees
If your city has an HSBC bank they will issue you a Master Card debit card. I used this card at their bank's ATM in London and Paris and there were no transaction fees. One HSBC bank in Paris thought I couldn't use it, but I went ahead and used the ATM and no problem receiving cash. The limit is $1000 US/day.
Christina Hom
Sacramento, CA USA Fri 04/21/2006
WaMu
Bryan, you should ask again about changing your checking to the free one. I saw the ad and went to the bank and asked if the free one was for new customers only, she said no and changed my account over.
AC
Los Angeles, CA USA Thu 04/20/2006
WaMu fees vary
Just starting looking into this and my bank, Waashington Mutual, currently offers no-fee ATM withdrawals abroad, BUT only if you have a newly-opened 'free' checking account. Older ex