US banks with no-fee ATMS in Europe

[fcleiser3]

anyone from the US that has been to Europe before (or has researched this) that knows of banks that don't charge ATM fees for getting Euros out of their account? Maybe there aren't any in today's banking climate.

 

Chris

[travelnnana]

I use my debit card from Fidleity Investments

[elybeck]

Get a Charles Schwab account... They will refund your ATM fees, as most of the ATMs you use will charge a fee.

[Essiesmom]

Wells Fargo doesn't charge me when I use and overseas ATM. EM

[Host Walt]

This question needs elaboration.

 

Fee one: The non-US ATM's offered by banks that can be used by people with ATM cards issued by US banks almost always assess a fee which is added to the transaction.

 

Fee two: The US issuing bank can also charge a fee for using the card at a non branch bank.

 

Fee three: The US issuing bank needs to convert the foreign currency to US dollars, of course, but at what prevailing rate? The rate is often a marked-up rate of, say, 2% over the current interbank rate.

 

Fee four: The US bank can assess a fee for performing the currency conversion.

 

The question, then, is what banks have the best fee deals for international transactions?

[Hlitner]

Host Walt lays it out in a clear way...that there are different types of fees. Most (not all) foreign ATM transactions are based on the wholesale rate of exchange (the best rate) plus a fee (usually about 1%) built into the final exhange rate. Most of the transactions (for nearly any bank) are handled by Visa Internations (who adds that near 1%). Most European banks do not add additonal fees...so it usually comes down to your own bank. In our experience the best deals within the US come from Credit Unions and smaller customer friendly banks. For example, our own Credit Union charges zero fees whereas our own commercial bank charges nearly 4% on foreign ATM withdrawals (which is why we do not use that ATM card). I should add that some Credit Unions even rebate fees charged by other bank's ATM machines.

 

For those that cannot find a decent local Credit Union or bank...you can always open an online account with CapitalOne who does not charge any fees on their foreign ATM transactions (or on their credit card transactions).

 

Hank

[sail7seas]

Some Chase Sapphire accounts and Capital Bank do not charge exchange conversion fees.

Most banks do.

 

[whogo]

This link shows a number of US banks that have no fees, no markup on European ATMs. http://flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange

 

European bank ATMs add no fees.

[woody73]

We have a CapitalOne account that reimburses up to $25 per billing cycle for fees charged by other banks' ATMs.

 

Woody

[tjcox9]

My debit card linked to my Fidelity Smart Cash account treats me well with reimbursement of ATM fees and a minimal conversion fee. I use that along with the Capital One credit card and so far, it's made traveling pretty fee free. :)

[NMLady]

Wells Fargo doesn't charge me when I use and overseas ATM. EM

 

Must depend on the branch then since we have Wells Fargo and we pay both a Foreign Transaction fee AND an ATM fee.

[thinfool]

If you have a credit union, it can be very competitive in this area.

 

Mine charged no foreign ATM fee.

 

The only fee I saw was a 1% conversion fee.

 

(this may not be true for all credit unions.)

[sandvinsd]

My debit card linked to my Fidelity Smart Cash account treats me well with reimbursement of ATM fees and a minimal conversion fee. I use that along with the Capital One credit card and so far, it's made traveling pretty fee free. :)

 

Ditto for me. I have a Capital One Master Card which does not charge a transaction fee and gives a good exchange rate. I also have my Fidelity debit card which reimburses the ATM fees and also gives a good exchange rate if I need cash. Getting cash with the Fidelity debit card is a LOT cheaper than either getting currency before you go (which I usually get a little to start) or exchanging dollars at the exchange kiosks.

[CtheW0rld]

Wells Fargo doesn't charge me when I use and overseas ATM. EM

 

i was certainly charged - atm fee and conversion fee. the foriegn bank charged me too.

[Swice]

Wells Fargo doesn't charge me when I use and overseas ATM. EM

 

 

Depends on what kind of account you have. I called a few days ago and they told me there is a $5.00 fee for using an "International" ATM on top of the fee the bank that owns the ATM happens to charge.

[jwds]

BofA has partner banks in many countries where there are no charges for ATM withdrawals with debit card.

[Skipper's Mom]

Because of information I read on CC, I opened a Capital One checking account which issued a debit card. I then funded this checking account and used it for purchases, etc. on our TA cruise from Venice to FLL last fall. I also have a Capital One credit card. I was not charged any transaction fees on either of these accounts.:D

 

I also purchased a supply of Euros (in small denominations) via Merrill Lynch. The Euros were delivered to my local Bank of America branch within two days, at no charge.

 

I thought this was an excellent way to handle the currency issues. I could also use my debit card if I needed additional Euros while traveling.:)

[prescottbob]

Personally I use a Charles Schwab debit card for ATM's and a Capital One Visa for restaurants & purchases regardless of world region.

 

I've always been pleased with the no foreign transaction fee policy of both firms.

 

Here's an old link to a chart (bottom of the page) that may help. I don't know how current the information might be but it's perhaps a good starting point.

 

http://flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange

 

 

In any event, best of luck and enjoy your trip. Even if you spend a few bucks on some ATM fees and such you are a very fortunate person being able to enjoy traveling the world.

 

Bon Voyage & Good Health!

Bob:)

[tntornadox]

Ally Bank does not charge for using any foreign (non-owned) ATM (even here in the U.S.) and refunds the fees the bank that owns the ATM charges too. Win-win!

[Ember56]

We were in Italy last May, Bank of America has relationship with BNL Italia , no fees for debit withdrawals

[Valley Girl of VA]

I use my Charles Schwab debit card for my checking account and they reimburse me ALL ATM fees. I also use my Capital One credit card for no foreign transaction fees. I have since received my Chase Sapphire Card and believe the same is true with that card.

[hrhdhd]

I have since received my Chase Sapphire Card and believe the same is true with that card.

 

Is the Chase Sapphire card a Visa card?

[Valley Girl of VA]

Is the Chase Sapphire card a Visa card?

 

Yes, Chase Sapphire is a VISA. BOth my husband and myself opened an account with them and after the spending (we both paid part of our cruise) we netted 50,000 miles each which helped us fly to Australia for the cruise in Business Class on miles - free!!!! Now the miles given are 40,000. Anyway, here is a link to the credit card that I copied from www dot frugaltravelguy dot com

https://applynowdc2.chase.com/FlexAppWeb/renderApp.do?SPID=DWMG&CELL=6H8X&AFFID=PPkX79_c.b0-hYfdlQBLgn9Q72dXiEEdew&pvid=165913FOF501268723

[MR NW GUY]

AMAZING.... and SOOOO Sad! No one here seems to support their "Community Bank", just the Mega banks, Mega Brokerage Companies and some larger credit unions. I guess you can tell my prefence - Keeping my local ecomony vital and also finding competive products.

[whogo]

AMAZING.... and SOOOO Sad! No one here seems to support their "Community Bank", just the Mega banks, Mega Brokerage Companies and some larger credit unions. I guess you can tell my prefence - Keeping my local ecomony vital and also finding competive products.

I supported my "Community Bank". It has since merged a couple of times or more and is no longer a "Community Bank". A local man has worked for six different banks without ever changing desks. I am not going to switch to a more local bank just to have them get bought out.