# No Foreign Transaction Fees for ATM usage



## Lucky Larry (Aug 29, 2012)

We exclusively use ATMs to get cash while traveling.  When traveling overseas (yearly) we have one that charges no Foreign Transaction fees on our withdrawls but requires us to maintain a balance of $2,500 in the account.  It is with a small bank and it also requires us to change our PIN each year AT THE BANK which is 10 miles away and we only use this account for the ATM card while traveling  overseas.

I'd like to find a more friendly ATM card without a fee or with a very low fee. My ideal would be an account that does not require a balance or less of a balance and no fee.

What are your experience?  Does anyone know of such a card?

PS  Re Credit Cards - We have a Capital One credit card that charges no interest and no yearly fee and use that when we travel overseas.


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## nalismom (Aug 29, 2012)

Do you have a Capitol One savings or checking account.. Then you can get their world debit card.


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## Lucky Larry (Aug 29, 2012)

I do but I wasn't aware that they have a no transaction fee and No Foreign transaction fee card.  

What Cap One card should I look at?


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## Luanne (Aug 29, 2012)

I can't remember where I found it, but I found a great chart that showed pretty much all of the banks, and even credit unions, along with their credit cards, ATM cards, and which one had fees for foreign transactions.  I think I just googled for it.  I'll try to find it again and post the link.

Okay, here's a link to one chart.  I don't know if this is the one I used before, but it seems pretty complete.

http://www.creditcards.com/credit-card-news/foreign-exchange-fees-going-up-1267.php


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## bellesgirl (Aug 29, 2012)

Lucky Larry said:


> I do but I wasn't aware that they have a no transaction fee and No Foreign transaction fee card.
> 
> What Cap One card should I look at?


I have a Capital One checking account and it has no fees when I use the ATM debit abroad.  But I had heard that they are eliminating this.


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## Luanne (Aug 29, 2012)

I just found the chart I had mentioned.  This one is far more comprehensive.

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


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## beach_bumz (Aug 29, 2012)

I have an online capital one checking acct exclusively for travel abroad. 

I've never been to a capital one bank -- I simply opened the account online and now all I do is transfer a few thousand dollars over before we leave on a trip. 

We figure we're saving a couple hundred dollars per trip in transcaction fees, and with 4-5 trips per year, we're saving considerably. 

I wasn't aware that Cap One is eliminating the foreign transaction fees. Bummer


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## x3 skier (Aug 29, 2012)

Most Credit Unions do not charge more than the 1% card fee on ATM use abroad. You can usually find one who will accept you as a Member  

Cheers


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## Jimster (Aug 29, 2012)

*Thailand*

All bets are off in Thailand on ATM withdrawls.  The government charges a large fee on ATM withdrawls and I don't believe any banks compensate for those charges.  SOOOOO, if you go to Thailand, the smart traveler takes traveler cheques.  Anywhere else use a Credit Union debit card because most of them don't charge fees.


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## bellesgirl (Aug 30, 2012)

beach_bumz said:


> I have an online capital one checking acct exclusively for travel abroad.
> 
> I've never been to a capital one bank -- I simply opened the account online and now all I do is transfer a few thousand dollars over before we leave on a trip.
> 
> ...


Just to clarify, I don't think Capital One is eliminating the no-foreign fees per se.  A friend tried to open an account online and they were told this type of account is no longer available.  They have acquired ING and I don't know what that means down the road.  

We also have never been to a CO bank but use it exclusively for non-USA travel, even in Canada.  They even pay interest!!


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## GetawaysRus (Aug 30, 2012)

I have an American Express PrePaid card.  I'm planning to use this during travel abroad to some extent, but there are limitations.  I also travel with a number of credit cards that do not have foreign transaction fees.

You can learn more about the AmEx PrePaid card at:
https://www.americanexpress.com/us/...e=default&name=gpr_faqs&type=intbenefitdetail

The pros:
1. The card has a PIN (which I was able to set), and I can use this card to make one cash withdrawal from ATMs per month without a fee from AmEx.  (I will of course pay a small fee to the ATM owner).  The withdrawal can be up to $400US, so this card might not be my only source of funds when abroad for an extended period.  After that initial withdrawal, AmEx charges $2 per ATM transaction.  If the $2 fee isn't bothersome to you, maybe you'd be interested.
2. There are no foreign exchange fees that I am aware of.  (I don't see that on a quick perusal of their FAQ - you might want to verify that with AmEx).
3. You can load up to $2500 per card.  No fees for loading the card.  So, for a husband and wife, if each had one of these cards that would mean you could leave home with $5000 total ($2500 on each of 2 cards).

Some cons:
1. The card can be used like a charge card.  But AmEx isn't accepted everywhere, especially abroad.
2. The T&C's state that you should not use it for car rentals.


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## Passepartout (Aug 30, 2012)

Like all debit (or prepaid) cards, should someone get your PIN, your liability is only limited by the amount you have deposited in the account. In  other words, it can be cleaned out without your knowledge or participation. And worse, if it's linked to an overdraft protection or LOC, those are susceptible as well.

Jim


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## justmeinflorida (Aug 30, 2012)

GetawaysRus said:


> I have an American Express PrePaid card.  I'm planning to use this during travel abroad to some extent, but there are limitations.  I also travel with a number of credit cards that do not have foreign transaction fees.
> 
> You can learn more about the AmEx PrePaid card at:
> https://www.americanexpress.com/us/...e=default&name=gpr_faqs&type=intbenefitdetail
> ...



Quoted from their user agreement: Don't like this...reservations "like" hotels, resorts?

You may use the Card to make a final payment in respect of a car or other rental, *but may not use the Card to make a Car rental or other reservation or deposit.* The Card is not intended for use for gambling or adult entertainment purchases, which you agree not to make with the Card.


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## justmeinflorida (Aug 30, 2012)

Visa TravelMoney~prepaid card Wondering if this is a better card?


*Can I use my card to get gasoline or rent a car?*
When you pay at the pump, some stations check to see if you have funds to pay for a full tank (up to $75). If your card is declined even though you still have funds, tell the attendant how much gas you intend to buy and sign the receipt for that amount.
Some rental car companies may require that you use a credit card to make a reservation, however your TravelMoney card is always welcome for final payment.

*Can I use my card to make reservations at a hotel?*
Yes, but hotels will verify that your card has sufficient funds to pay an estimated bill for your stay. That amount will be held in your account, making it unavailable for other purchases. When you check out, the hold will be removed and the actual bill amount will be deducted.
You can avoid having funds held by using a Visa credit card at check-in. Your TravelMoney card is always welcome for final payment


*Emergency Card Replacement and Cash Disbursement
Auto Rental Collision Damage Waiver
Zero Liability 2
Even more for Visa Signature cards:
Lost Luggage Reimbursement
Roadside Dispatch (U.S. only)
Travel and Emergency Assistance Services
Travel Accident Insurance
Purchase Security
24/7 Complimentary Concierge*


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## nalismom (Aug 31, 2012)

*Capital One fees*

Ok----concerned about news of changes I went to my local CO and spoke to someone.  There are 3 types of checking accts...Rewards, Premiere Rewards and High Yield.  

The first two types now charge fees to use non-CO ATMs and they will no longer reimburse you for fees charged by the non-CO bank......and.....if you use your debit card attached to one of these accts to access a foreign ATM they will charge you a 3 % foreign transaction fee.  

The third type, High Yield checking, will reimburse you up to $15 in ATM fees per statement period .......... And there is no foreign transaction fee when using debit card overseas whether in ATM's or in stores, restaurants, etc. The caveat is you must have a combined balance of $5000 in your CO accts which also can be savings, CD's, brokerage .......OR have a home loan in good standing.

We are switching our account type since those 3% FTF can run up pretty quickly.

You can also find this info on their website.

Hope this helps.

Oh...one more thing...whenever we have gone overseas..in addition to putting a travel alert on my accounts including my checking account..I've been told that if debit card is stolen or your    
PIN is stolen....the most that can be taken out of your acct in an ATM is your daily limit of $400-600.  I believe if used as you would a credit card you would be covered as you would as if it was a credit card.  I am obsessive about checking my accounts on line when traveling for hints of fraudulent use.  I also only use ATMs attached to banks.


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## bellesgirl (Aug 31, 2012)

nalismom,
We have a personal interest online checking account with CO. Doesn't seem to be any of the ones you mentioned.  I also do not see anything on the website nor have I received any correspondence about a change to the T&C of my account.  But I know this type of account is no longer available.  Could you post the link form the website please.
Thanks for your research.  I will switch accounts type if necessary as well.


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## nalismom (Aug 31, 2012)

Try this:

http://www.capitalone.com/checking-...FCF86A1G1F8BH7EF8I589C_HOME_H1_09_T_CKACTHOME

You can click on the key services and charges link for additional details. We only received something back in May that had to do with ATM fee reimbursement but said nothing about the 3% FTE which can add up  I'm glad I went to CO. You can also call them


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## bellesgirl (Aug 31, 2012)

I called CO and here are no changes as of this time to my type of account.  However, it is no longer available to new applicants so, my guess is, there will be changes coming down the pike.


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## nalismom (Aug 31, 2012)

Good to know for you.......but I wonder since yours is interest bearing that it is considered the same way as the high yield.  Either way - you are a winner


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## klpca (Sep 1, 2012)

After being a credit union member since 1980, a series of customer service lapses forced me to look at other options about three years ago. We opened an account with Charles schwab bank and I couldn't be happier. They offer worldwide fee free atm's. Actually you go to any ATM, accept the fees, and Schwab reimburses you at the end of the month. Here's a link: http://www.schwab.com/public/schwab/banking_lending/checking_account


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## staceyeileen (Sep 1, 2012)

klpca said:


> After being a credit union member since 1980, a series of customer service lapses forced me to look at other options about three years ago. We opened an account with Charles schwab bank and I couldn't be happier. They offer worldwide fee free atm's. Actually you go to any ATM, accept the fees, and Schwab reimburses you at the end of the month. Here's a link: http://www.schwab.com/public/schwab/banking_lending/checking_account



This looks like an excellent option.  Thank you!


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## bellesgirl (Sep 1, 2012)

klpca said:


> After being a credit union member since 1980, a series of customer service lapses forced me to look at other options about three years ago. We opened an account with Charles schwab bank and I couldn't be happier. They offer worldwide fee free atm's. Actually you go to any ATM, accept the fees, and Schwab reimburses you at the end of the month. Here's a link: http://www.schwab.com/public/schwab/banking_lending/checking_account


We have this account and found that when we used it in the UK, they charged a very bad exchange rate.  That may have been because they have a foreign fee that is buried in the rate.  That was a number of years ago - has anyone had recent experience using this abroad?  The website doesn't say anything about no foreign fees.


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## klpca (Sep 1, 2012)

We used it in Italy in 2010 and in Germany, Austria, and Switzerland in 2011. Also in Mexico with no ATM charges. I haven't checked to see what exchange rate they use because we don't use a ton of cash when we travel.


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## Honesty848 (Sep 14, 2012)

I'm a member of Stanford Federal Credit Union. The website is www.sfcu.org. Membership is open to anyone with a $10 donation to the Palo Alto libraries. There are no FTF on their debit or credit cards. They will also reimburse all of ATM fees with a minimal direct deposit every month (I believe the requirement is $750). The foreign transaction rates used are fantastic (I compared the rate I received with the rate I received same day from my Chaae Sapphire; I've also compared to x-rate)

Aside from the above, customer service is fantastic and the amount of 'next gen' products such as depositing a check by scanning or taking a picture of the check is surprising for any institution let alone a credit union. I'd highly recommend them.


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## momeason (Sep 14, 2012)

bellesgirl said:


> I have a Capital One checking account and it has no fees when I use the ATM debit abroad.  But I had heard that they are eliminating this.



The capital one venture card has no foreign transaction fees on point of sale purchases. I have never used it to get cash. I love the card and its 2 miles for every dollar spent and super easy online redemption of travel costs.


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