ATM use
I have read that many of you use and ATM card to get euros and RS also recommends it. I have both BA and Chase cards, but both have awful fees. BA charges 3% plus $5.00 each time I get $ out. Chase has 3%+$3.00 each time also. Which cards do any of you did has a better rate?
Sammee
Clinton, Washington 11/6/09
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Capital One has no fees. There's also a Schwab account that is frequently recommended. This is a pretty often-discussed topic, and if you look at the "stickied" threads at the top, you'll find one with directions on how to effectively search the forum and learn far more than you ever wanted to. :-)
Oh, and credit unions are often also a better choice, so you could look into BECU or similar.
From the suggestions on this board, I called Schwab and queried them about their ATM fees. They told me that all transaction fees accrued are refunded. WOW! How cool is that? I immediately opened a checking account with them. They told me just make sure to inform them of travel plans.
People here also suggest to take another ATM card from another institution, which is a good idea too and I will certainly do.
We used our credit union debit card. All of our international fee's were credited back to us as well.
Sammee, See http://flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange
Will have to check both the Capital One and Schwab ATM card, wish I was more on the ball with this,but I will be ready for my next trip. Thank you all.
I opened a Capital One money market account to get the ATM card. It did take some time. I opened the account online, but then they sent paperwork which I had to fill out, sign and return before they issued the card. I used it at an ATM in Paris at CDG last week as I was passing through - no fee and good exchange rate. I got tired of the $5 a pop Union Bank was charging me on my checking account ATM draws. BTW you can only open a Capital One checking account if you live in one of the few states they have branches in. They are listed on the website. MM works for me because there are unlimited ATM withdrawals permitted (as opposed to other withdrawals which are very limited).
I understand you have to have a brokerage account with Schwab to get an ATM card.