May 21, Usatoday article best credit/debit card overseas

[WesW]

fyi:

 

http://www.usatoday.com/travel/deals/inside/2009-05-21-best-overseas-credit-card_N.htm?POE=TRVISVA

[cruisemom42]

Thanks for posting this.

 

Basically it confirms what most of us here advocate: Get a Capital One credit card for charges and use an ATM for cash.

[takeavacation]

I don't know about the accuracy of the article. I just called my bank - BofA and was told that for each ATM use - I would be charged 3% plus $5 -- regardless of the atm I use. The article indicated that certain atms have no fee (of course - none in the countries I'm visiting.....) I think I'm going to bring my euros with me.

[cruisemom42]

I don't know about the accuracy of the article. I just called my bank - BofA and was told that for each ATM use - I would be charged 3% plus $5 -- regardless of the atm I use. The article indicated that certain atms have no fee (of course - none in the countries I'm visiting.....) I think I'm going to bring my euros with me.

 

From Bank of America's own website (link below): "Use your ATM card or check card within our Global ATM Alliance in the countries shown with no fees."

 

http://locators.bankofamerica.com/locator/locator/LocatorAction.do

 

The person you spoke to may have been confused, because banks commonly use the term "foreign ATM" to refer to any ATM that's not in their network. In other words, the Wells Fargo ATM sitting across the street from your hometown Bank of America ATM is considered "foreign" in bank lingo.

[tamarackcabin]

For ATM purposes, I plan to use the Smart Cash account I opened with Fidelity, which supposedly charges no fees for overseas ATM withdrawals (using the Star, Plus, or Cirrus networks) and even pays the fees that foreign banks will charge. Has anyone had any experience using this type of card?

[Fblack]

I have been considering a Fidelity Smart Cash card too. I guess it's really a Visa Debit Card/ATM. It appears to me that they charge a 1% foreign transaction fee for ATM withdrawals. And they verbally told me that only Visa ATM charges would be reimbursed. However their web site seems to say all ATM charges will be covered so I am not sure the Fidelity rep knew much about this. See link below.

 

I used to use a Wells Fargo ATM Card in Europe, but here are their new fees:

 

Wells Fargo will assess a $5 fee for ATM cash withdrawals made outside of the United States and a 3% foreign currency conversion fee for purchases made with your Check Card.

 

 

http://personal.fidelity.com/accounts/aong/sca_learn.shtml.cvsr

[dfwguy62]

I haven't used the Smart Cash account yet, but upon looking at the fine print here's what it says about fees... "All Fidelity ATM withdrawal fees will be waived for your mySmart Cash Account®. In addition, your mySmart Cash Account®will automatically be reimbursed for all ATM fees charged by other institutions while using a Fidelity Visa® Gold Check Card linked to your mySmart Cash Account®at any ATM displaying the Visa®, PLUS® or STAR® logos. The reimbursement will be credited to the mySmart Cash Account®the same day the ATM fee is debited from the account. Please note, there is a foreign transaction fee of one percent that is not waived, which will be included in the amount charged to your account. The Fidelity Visa® Gold Check Card is issued by PNC Bank, DE and administered by PFPC Trust Company, which are not affiliated with Fidelity Investments. The third party trademarks appears herein are the property of their respective owners".

 

Note that it appears they will reimburse/not charge the ATM fee, but that a 1% foreign transaction fee will still be applied.

 

Still, not a a bad deal compared to most banks.

 

I just applied for a Capital One Credit Card. It was time to switch to a lower fee one anyway, so I might as well get it in time to use it for my July trip.

[thinfool]

For ATM purposes, I plan to use the Smart Cash account I opened with Fidelity, which supposedly charges no fees for overseas ATM withdrawals (using the Star, Plus, or Cirrus networks) and even pays the fees that foreign banks will charge. Has anyone had any experience using this type of card?

 

My credit union offers this type of service (VISA check card type ATM). We used it extensively for 3 weeks in Europe last October. The only fee incurred was a 1% conversion fee...which is really low compared to what others seem to be paying.

[CintiPam]

Thanks for posting this.

 

Basically it confirms what most of us here advocate: Get a Capital One credit card for charges and use an ATM for cash.

 

Exactly. (Cynthia, spot on, as usual.)

[MSMcDuffy]

Always call the bank of your credit or ATM card to find out if they have any special rules.

 

Example: I had warned my sister that her Wells Fargo ATM card had a lot of fees so she called them and found out that she can make 4 withdrawals per year at a non-Wells Fargo ATM (in or outside the US) without being charged the fee.

[WesW]

Your very welcome Cynthia. I plan to continue to use our Capital One card for our rental car and hotel this Sept in the Italian Dolomites and our USAA debit card for cash (i.e., Euros) via ATMs (as I have done for European Travels before) as well as our TA embarking from Lisbon in Jan and our TA embarking in Barecelona next November. Very nice to see a current news article reinforce our research.