Specific ATMs for Capital One?
I got my new ATM card through Capital One and someone told me that I had to use specific ATMs in Europe for Capital One or I would be charged a higher conversion fee. Is this correct? It sounded weird to me, but I figured it would be best to ask.
Eli
Tornado Alley 5/16/08
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Why don't you ask Capital One.? That is the logical place for your question. I have never heard of anything like that but who knows.
Capital One credit cards charge no fee, but I don't know about the debit cards. I would assume, though, that it would be the same -- no fee.
Sorry, I meant ATM card.
The someone was my sister who called and spoke to customer service and this is what she was told. I am going to call myself to make sure.
Take a look at this if you are going to use Capital One ATM card in Italy. http://goitaly.about.com/b/2008/03/15/beware-the-ides-of-march-and-the-atm-machine.htm
I could understand having to use an ATM in the same network, but I've never heard of having to use particular ATMs for particular brands of card.
Note also that Capital One has only a SAVINGS account which we all know seems to have issues in Europe with respect to ATM withdrawals. I personally have never had much of a problem getting money out of ATMs in Europe.
They said as long as we use VISA plus networks and gave me locator information. I reported that I had read negative comments from users who had problems. They said we need to let them know every country we will be in and the dates.
Keeping my fingers crossed that we will have no problems.
I know of a simialr concept with Bank Of America:
http://bankofamerica.via.infonow.net/locator/atmbranch/ListLoadAction.do
Traveling Internationally? Use your ATM card or Check Card within our Global ATM Alliance in the countries shown with no fees.
Barclays (United Kingdom)
BNP Paribas (France)
China Construction Bank (China)
Deutsche Bank (Germany)
Santander Serfin (Mexico)
Scotiabank (Canada)
Westpac (Australia and New Zealand)
Carefully note that Bank of America does have reciprocal "No Fee" arrangements with the banks mentioned by Matthew. But, these NO Fee arrangements are good only in the home countries of the different banks. For example, if you found and used a Deutsche Bank ATM in Italy, you would be charged a fee.
Oddly, the Bank of America, whose original name was the Bank of Italy, has no reciprocal relationships with any bank in Italy.
First, I don't remember reading or hearing anyone recommend using a Capitol One debit/ATM card. The recommendations I have always seen is to use the Capitol One credit card for major purchases and a local debit card for cash. The fact that there seems to be some problems with the Capitol One debit card would suggest that maybe the card is not a true debit card.
Hi,
I opened a Capital One Direct Banking money market account and used the ATM card (plain vanilla ATM, not debit/ATM combined) in Great Britain in April. I used ATMs for large banks (ex: HSBC) and just looked for the VISA logo.
For a withdrawal of 80 pounds my account was charged 159.58 US. Coming home I looked up the exchange rate on that day, it was listed as ranging 1.95 to 1.99 USD to 1 pound. The experts can tell me what exactly happened for the exchange, but I was pleased.
FYI, here in the states the money market account is considered a savings account when using ATM. In Europe, it just asked for language not type of account and worked slick.
Cheers.
We used the ATM and credit card (CO) in Oxford yesterday, and everything went well. They were informed that we would be visiting three countries, so we will be keeping our fingers crossed that things go as well in Italy and France.
Hey check out this post on ATM/ Charles Schwab: click here
I too opened a Capital One debit only ATM card and used it during my trip to Europe last year in Italy and Great Britain. No problems. The debit card was tied to a savings account which I transferred money too while here in the States. I found the conversion rate to be acceptable. No outrageous use charges or conversion fees at any ATM machine. And if I recall, none of the ATM's in GB charged me a use fee at the machine. When I go to Europe again, I will use the same card again.