Cash withdraw from CCard
Dec 26th, 2016, 12:42 PM
#6
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If your credit card is from the US, you will invoke the hefty finance charges for cash advance from the moment you pull out the money.
Even though we now have chips in the US-issued cards, they still are not true "chip-and-pin" cards - if you call your credit-card company they'll tell you that anytime you make a transaction that involves the PIN you are doing a "cash-advance" transaction that attracts the finance charges.
Just get a debit card that is linked to a checking account, use that at an ATM to withdraw local currency, and the banks behind the scene will give you the best possible exchange rate on that, a bank-to-bank rate that you yourself can't get at an exchange "bureau de change". It will show up on your statement, just like any purchase you make with your debit card or with your credit card (where mostly you'll have to sign despite the chip).
Make sure your checking account is loaded, and that your bank knows where you'll be traveling so your ATM transaction won't be denied for reason of "suspicious foreign activity" or some such inconvenience.
Even though we now have chips in the US-issued cards, they still are not true "chip-and-pin" cards - if you call your credit-card company they'll tell you that anytime you make a transaction that involves the PIN you are doing a "cash-advance" transaction that attracts the finance charges.
Just get a debit card that is linked to a checking account, use that at an ATM to withdraw local currency, and the banks behind the scene will give you the best possible exchange rate on that, a bank-to-bank rate that you yourself can't get at an exchange "bureau de change". It will show up on your statement, just like any purchase you make with your debit card or with your credit card (where mostly you'll have to sign despite the chip).
Make sure your checking account is loaded, and that your bank knows where you'll be traveling so your ATM transaction won't be denied for reason of "suspicious foreign activity" or some such inconvenience.
Dec 26th, 2016, 01:05 PM
#7
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More info and yes I am fully aware of interest penalty
Had a situ on my travels where for some unexplained reason my normal card (acsessing savings) was not accepted at an ATM in Lusaka.
So as a need only basis I cash advanced to get me over that situ
And I always pre load small ammount into CC so no charges levied --a backup only not everyday thing
Had a situ on my travels where for some unexplained reason my normal card (acsessing savings) was not accepted at an ATM in Lusaka.
So as a need only basis I cash advanced to get me over that situ
And I always pre load small ammount into CC so no charges levied --a backup only not everyday thing
Dec 26th, 2016, 01:11 PM
#8
Generally speaking, you cannot withdraw cash from a savings account at a European ATM, only from a checking account, so it was not an unexplained event.
I rather doubt that the credit card company will apply your positive balance to your cash advance, but since I have never tried it I don't know for sure. I always carry ATM cards for at least accounts, both of which are checking accounts.
I rather doubt that the credit card company will apply your positive balance to your cash advance, but since I have never tried it I don't know for sure. I always carry ATM cards for at least accounts, both of which are checking accounts.
Dec 26th, 2016, 01:37 PM
#9
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My bank has and still does allow money placed into my credit card which i can cash advance here in Australia but obvious I have no need at home as I use my savings at ATM here
On my banking card which at home my pension goes into savings account and as I travel that account holds money which I acsess as I travel
Raised this with Greece info i got that some service stations require cash fo petrol --not credit card
On my banking card which at home my pension goes into savings account and as I travel that account holds money which I acsess as I travel
Raised this with Greece info i got that some service stations require cash fo petrol --not credit card
Dec 26th, 2016, 01:41 PM
#10
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Coolmover...I do the same thing, sometimes, but it doesn't really help in this situation because you're still paying that horrible fee. I mean, they apply the positive balance to the cash advance, but it's still a credit card withdrawal so I don't really see the point...
Dec 26th, 2016, 01:53 PM
#11
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Point is if I fill up and the gas station wants cash I can pay cash
And as I have projected fuel costs was thinking of putting that projected cost into Visa card as separate to my daily costs
and I can advance that cash I used up from my petrol fund
back to daily funds
May not make sense to others but I do know pitfalls and how my bank operates
And as I have projected fuel costs was thinking of putting that projected cost into Visa card as separate to my daily costs
and I can advance that cash I used up from my petrol fund
back to daily funds
May not make sense to others but I do know pitfalls and how my bank operates
Dec 26th, 2016, 02:02 PM
#12
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thursdaysd: Generally speaking, you cannot withdraw cash from a savings account at a European ATM,
Except in France, Luxembourg, Belgium, Germany, Italy, Slovenia, Croatia, Montenegro, Bosnia, Netherlands, Lithuania, Latvia, Estonia, and Russia - at least, those are the only countries where I've successfully withdrawn cash from my savings account with my ATM card. I have not tried it in Greece, though.
Except in France, Luxembourg, Belgium, Germany, Italy, Slovenia, Croatia, Montenegro, Bosnia, Netherlands, Lithuania, Latvia, Estonia, and Russia - at least, those are the only countries where I've successfully withdrawn cash from my savings account with my ATM card. I have not tried it in Greece, though.
Dec 26th, 2016, 02:09 PM
#13
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Right...but you could pay cash even if you didn't have the positive balance because you'd still be able to get a cash advance? Right? That's why I'm not following. Just using the card triggers the fee. I carry my credit card as emergency back up, but in Europe withdrawing cash from it is definitely worst case scenario so I don't bother with the positive balance thing.
Dec 26th, 2016, 02:16 PM
#14
Andrew - maybe things have changed. or is it the only account linked to that card?
http://www.fodors.com/community/euro...gs-account.cfm
http://www.fodors.com/community/euro...vings-acct.cfm
http://www.fodors.com/community/euro...gs-account.cfm
http://www.fodors.com/community/euro...vings-acct.cfm
Dec 26th, 2016, 02:38 PM
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thursdaysd: Andrew - maybe things have changed. or is it the only account linked to that card?
It is the only account linked on that card, yes.
It would be more accurate to say that European ATMs probably won't allow you to choose which account your cash comes from with an American ATM card.
We don't know if the OP's account has both checking and savings or just savings as with mine. I suspect few people anymore have accounts where the "savings account" gets better interest than a checking account (so what would be the point in putting money in a savings account instead of the checking account?). In my case, the account I use only for travel does not have a checking account.
It is the only account linked on that card, yes.
It would be more accurate to say that European ATMs probably won't allow you to choose which account your cash comes from with an American ATM card.
We don't know if the OP's account has both checking and savings or just savings as with mine. I suspect few people anymore have accounts where the "savings account" gets better interest than a checking account (so what would be the point in putting money in a savings account instead of the checking account?). In my case, the account I use only for travel does not have a checking account.
Dec 26th, 2016, 02:54 PM
#16
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Card issued and used by my bank is Westpac Mastercard Debit card but in Aus i press saving
In Greece i will press debit to get money out
And maybe the as people say credit with surplus not necesary
Interesting that my Westpac bank Australia is a member of
Global Bank Alliance with affiliates to Sth Africa bank
Barklay banks BNF and several others and using affiliates i pay no ATM fee just the 3% foriegn exchange deal
Greece is not a member and its 1st time i have had to use an un affilliated bank
In Greece i will press debit to get money out
And maybe the as people say credit with surplus not necesary
Interesting that my Westpac bank Australia is a member of
Global Bank Alliance with affiliates to Sth Africa bank
Barklay banks BNF and several others and using affiliates i pay no ATM fee just the 3% foriegn exchange deal
Greece is not a member and its 1st time i have had to use an un affilliated bank
Dec 26th, 2016, 04:07 PM
#17
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I had a discussion with my bank about having a positive balance on my credit card, and I seem to recall that they said the positive balance is not protected in case of your card getting lost or scammed. You might want to check that scenario with your bank.
Dec 26th, 2016, 04:48 PM
#18
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Sundried what country is your CC
Had a situ which always has me thinking on ATM oversea
as my Debit got goobled up and actualy shredded so back in my room I transferred money into my credit card and then used that
Oh reason of gobbled card --took too long with transaction and when warned was not quik ---this was in Lima
Had a situ which always has me thinking on ATM oversea
as my Debit got goobled up and actualy shredded so back in my room I transferred money into my credit card and then used that
Oh reason of gobbled card --took too long with transaction and when warned was not quik ---this was in Lima
Dec 26th, 2016, 04:51 PM
#19
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We live in Canada. Yes that is a pretty scary situation. We travel as a couple and always have 2 different cards with us. We can actually access our credit card through our debit card (same bank) if we set it up ahead of time.
Dec 26th, 2016, 05:05 PM
#20
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Yes my Debit card (Mastercard) and CC (Visa) have same pin
Greece is different as I said are not member to my banks allaiance and sure will be fine
Its just its one of Europe's more fragile economies
Greece is different as I said are not member to my banks allaiance and sure will be fine
Its just its one of Europe's more fragile economies
