Travlers checks in Mexico?

[rpennisi]

I think that was only true with new debit accounts. I checked my statement from August 2013 when we were in the UK and we got the bank rate according to xe.com (no fees at all). A friend tried to open a new Cap One checking account a year ago and was told they no longer offer this type of no foreign fee account. Of course, this could also change on existing accounts. I will check before we travel outside the US.

My debit account is not a new account, it was an existing account. We had it long before they began charging the 3%. Our last use was in Italy in October, the 3% was charged to us on the amount taken from the ATM.
Back in 2012 when I noticed this charge, I called Cap One and was told that was now the policy.
The exchange rate was the bank rate....but the 3% charge is a fact.

10/7/2013 Intl ATM Withdrawal ATM WITHDRAWAL PIAZZA CISTERNA SAN GIMIGNANO $340.70
10/7/2013 Intl ATM Withdrawal Fe DR AMT 340.70 ...0000 CE: ............ 10 06 2013 12. $2.00
10/7/2013 International ATM Char DR AMT 340.70 ...0000 CE: ............ 10 06 2013 12. $10.22

As you can see: $10.22 is 3% of $340.70, and a $2 ATM withdrawal fee.

 

[bellesgirl]

My debit account is not a new account, it was an existing account. We had it long before they began charging the 3%. Our last use was in Italy in October, the 3% was charged to us on the amount taken from the ATM.
Back in 2012 when I noticed this charge, I called Cap One and was told that was now the policy.
The exchange rate was the bank rate....but the 3% charge is a fact.

Maybe we have different types of debit cards. We were definitely not charged that in August 2013 in the UK, neither on withdrawals nor purchases.

08/15/2013 $309.10 ATM WITHDRAWAL - ATM WITHDRAWAL ... LONDON
08/16/2013 $49.67 INTL SIGNATURE DEBIT PURCHASE - 0... LONDON GB
08/20/2013 $314.09 ATM WITHDRAWAL - ATM WITHDRAWAL ... LONDON
08/26/2013 $155.71 ATM WITHDRAWAL - ATM WITHDRAWAL ... LONDON

I also went back and confirmed that there were no fees on the account in Feb. 2013 when we were in Mexico. I will call tomorrow because I need to know what to use on our next trip.

 

[persia]

I remember the last Traveller's Check I ever used, it was January 1997, on honeymoon in Goa. The Indian banking system was still unreliable and I managed to find and carry some of the old paper cheques from Thomas Cook & Sons.

 

[Phydeaux]

I remember the last Traveller's Check I ever used, it was January 1997, on honeymoon in Goa. The Indian banking system was still unreliable and I managed to find and carry some of the old paper cheques from Thomas Cook & Sons.

Cool. I'll be using them again in Mexico in 2014.

 

[rpennisi]

Maybe we have different types of debit cards. We were definitely not charged that in August 2013 in the UK, neither on withdrawals nor purchases.

08/15/2013 $309.10 ATM WITHDRAWAL - ATM WITHDRAWAL ... LONDON
08/16/2013 $49.67 INTL SIGNATURE DEBIT PURCHASE - 0... LONDON GB
08/20/2013 $314.09 ATM WITHDRAWAL - ATM WITHDRAWAL ... LONDON
08/26/2013 $155.71 ATM WITHDRAWAL - ATM WITHDRAWAL ... LONDON

I also went back and confirmed that there were no fees on the account in Feb. 2013 when we were in Mexico. I will call tomorrow because I need to know what to use on our next trip.

I think I have found out the differences we are getting with the Cap One card. I called today and found out that there is a Premier Reward Checking account and a High Yield Checking account. The former (mine) has the overseas charges and the latter (I am guessing yours) does not. I will be switching accounts...

 

[geekette]

This is no longer the case with the Capital One debit/atm card. As of August 2012, they started to charge 3% foreign exchange fees. It has occurred to us in Mexico and Europe. However, you still get the good exchange rate.
Their VISA credit card still has no foreign exchange fees.

I used my Cap One debit last month in Cabo with no exchange fees - it was for purchases, I did not use any ATMs.

I used to bank with ING which Cap took over so there could be a difference with our accounts.

I do not have a Cap One Visa/MC, just debit.

 

[IngridN]

... ...
1. The banks where we live no longer carry them. The AAA does. They have American Express Travelers checks. There are NO fees to get them.
... ...

MIL thanks you for the AAA info. She lives in the middle of nowhere, but luckily has an AAA branch in town. At 91, she's not about to change habits or go bank shopping.

Ingrid

 

[rpennisi]

I used my Cap One debit last month in Cabo with no exchange fees - it was for purchases, I did not use any ATMs.

I used to bank with ING which Cap took over so there could be a difference with our accounts.

I do not have a Cap One Visa/MC, just debit.

My original checking debit was a North Fork Bank card, taken over by Capital One (just as ING has). It's a debit Master Card/ATM card.

What I wrote above, about it being a Premier Reward Checking account and not a High Yield Checking account was the case.

I went to Capital One and changed the account, and now have no ATM charges and no 3% foreign transaction fees.

Just in time for going to Mexico on Friday...that is if the snow storm heading for NY cooperates.

 

[bellesgirl]

I think I have found out the differences we are getting with the Cap One card. I called today and found out that there is a Premier Reward Checking account and a High Yield Checking account. The former (mine) has the overseas charges and the latter (I am guessing yours) does not. I will be switching accounts...

Mine is actually called an "Interest online checking" account. No mention of "high yield" and it definitely is not! But so far, no fees.

 

[persia]

Mine is actually called an "Interest online checking" account. No mention of "high yield" and it definitely is not! But so far, no fees.

How does Capital One banking compare with Ally or USAA?

 

[bellesgirl]

How does Capital One banking compare with Ally or USAA?

I use it strictly for the debit card when I travel and it is an online account. There are no branches in my area. The interest rate used to be really good, but not for the last year or so. Now it is as bad as every other bank.