Travelnut

OK, been reading quite a few threads on Fodors and elsewhere – usually the original question spirals ‘out of control’ into a vortex of off-point but still useful information, lol, and my head starts hurting. I am clear on the finer points of ATM fees, foreign currency fees, daily maximums, notifying the bank before we travel, and so on.

I’m a new credit union member and am hoping to figure out <blue>one thing</blue> regarding using my C/U debit card at ATMs in Europe: which account should I have the $$$ in??

The credit union says the Savings is “primary”. Savings accounts have transaction limits for withdrawals (6/month), and some electronic debits aren’t allowed by a Credit Union savings rules (draft vs debit?, not sure about this). I also opened a Checking account as well so have two accounts now.

ATMs in Europe present you only the “primary” account for withdrawals. I want to use the Checking account for my ATM withdrawals in Europe. Anyone know from experience if the credit union Checking account can be made “primary” so I can access it with a Debit /ATM card in Europe? (of course, I will quiz the C/U rep on this but wanted to “know” what I’m talking about by then, lol).

I always take two different Credit cards, but usually have cash in only one account, so nervous about being able to do this right after we get to France this fall.

Thank you for your experiences and advice!
~ travelnut

J62

At my credit union the checking account is the primary account. A way to solve this is to access your CU account online after the first use then move the cash to whichever account is debited by the ATM.

Sarastro

You should be able to designate which of your accounts is primary. The problem will most likely be finding someone at your CU who understands your requirements and why you want your checking account to be primary.

If ultimately there is some kind of problem and your savings account remains primary, hopefully you will be able to access your accounts on line and transfer money from your checking to savings.

Christina

I'd just make sure there was enough money in either, also, to be on the safe side. You are just going to be using it for walking-around-cash, aren't you? As long as you went to the trouble to open two accounts, I would think you could put that much money in both, it wouldn't need to be much if it is just minor expenses.

I don't understand why you have two accounts if you don't keep money in both.

adrienne

The credit unions I've belonged to require a savings account before you can have any other type of account but I only needed to keep $5 in the savings account. My primary account is my checking account. I actually have more than one credit union account since I don't want to keep a lot of money in my checking account. I have another one that I use to transfer money into my checking account during my trips. I have a very very high per day withdrawal amount from my checking account and would hate for all that money to disappear if my ATM card is lost or stolen and the PIN was discovered.

Call your CU and ask that your checking account be your primary account.

greg

Yes, this type of discussion goes out of control. Everyone defends their portion of the elephant they are describing.

Every credit union I have dealt with requires at least $5 in savings account. So initially that is THE primary account. So if you ask a bank rep what is the PRIMARY account, then the answer is that initial savings account which anchors all the other accounts. That is that person's definition of PRIMARY from the point of how a CU membership is established.

In the ares of ATM withdrawal, the meaning of PRIMARY can be changed - and you do want it be different from the previous meaning of PRIMARY. If a demand draft transaction is initiated using your DEBIT card (that is usually what an ATM machine does against your account), what is the account used if not given an option to select an account? That account is the PRIMARY when it comes to a Debit card transaction.

So you see 2 different meanings of PRIMARY.

Next question is whether that Debit card transaction PRIMARY needs to be a checkings account or a savings account. Here there is an area of heated discussion. I think majority, including myself, claim it has to be a checkings account. There are a few who post here that it can be savings as long as it is Debit cards PRIMARY account. I had both set up and at least in my case, the only set up that ever worked was when the checking account was my Debit card's PRIMARY account.

I had my CU program my setup so that my Debit card can access only one checking account. I don't keep all trip money in it. I program transfers from my savings so money is added to my checking account as I go along. If my card is stolen, the amount at risk is limited. I can stop all future transfers to my checking account online. What has not been transferred cannot be stolen.

kybourbon

It will probably have to be the checking account as the ATM's in Europe will not give a choice to select checking or savings. For years, I had my ATM card on the CU savings account (joint with my daughter that we only used for travel) and had no problems using it in Europe as I didn't have other accounts linked. On my last trip, my card would no longer work and it had to be put on a checking account. Something to do with software and the card would no longer work on a savings account, only a checking account. Luckily, my daughter was in the states and able to go to the CU and have the card moved to my checking account.

I don't find bank or CU employees know much about overseas withdrawals and you will likely get different answers depending on which employee you ask.

Travelnut

Yes, my situation is as adrienne says, the savings was required (but the usage is somewhat restrictive) thus I also opened a checking account.
So it seems there should be no problem flagging the checking account to be 'primary' and therefore the option presented to me at the ATM (Europe).
Christina, I would love to 'double' my travel money, lol, but I am saving what I need to pay for my trip in cash as much as possible, and will need to utilize most of it during our travels.
J62 and Sarastro, I think I follow your advice - - put my $$ where I think it should go, try it out - - if it turns out the $$ s/b in the other acct, then go online and transfer it.. sounds like a Plan B, thanks.
An "A+" for staying on topic, lol, appreciate the comments.

Travelnut

OK, so greg says -
- Have the Debit card limited to Checking account use only
- Don't transfer all my travel money at once, replenish from Savings as we go

kybourbon, your comments seem to mesh with the others, thanks for your report.

kybourbon

My credit union doesn't require a savings account. DD is also in two other credit unions (two other states)where she has only checking accounts.

Credit unions have state regulations/laws so things can vary by state. I was very surprised when my cousin in OH looked into joining one from his alma mater that it didn't have half the perks mine does (KY based).

One annoying aspect of my credit union is the withdrawal limit. It's only $400 per day (316€ at current exchange) and you can't increase it. It's not really a problem unless I need to pay cash for a B&B in Europe. Many ATM's in Italy only give you an option of taking about up to 250€. If you are going to need to pay cash for something and need to take out money several days, you need to pay attention to when the 24 hour period is since you will be in a different time zone.

DebitNM

Everything that is being said here is irrelevant! Call YOUR credit union and talk to them - they are the only one that can tell you how it works in THEIR bank. Everything else here is speculation.

nytraveler

Separate question. Is this credit union a member of the major ATM networks. Many smaller ones aren;t - and then are useless except in their own ATMs. Does you card have the standard major network symbols on it - Star, Cirrus et al.

Agree that which is the primary account you need to sort out with your credit union.

Travelnut

Yes, it is Vystar (Florida) and my Debit card is Visa-branded.

Rather than thinking these responses are 'irrelevant', it helps me understand 'what's out there' so when I do talk to the C/U, my understanding has been broadened beforehand. Especially since so many people post that small banks and c/u often <i>don't</i> know about overseas use that much.

greg

Whether the bank or CU knows the implication of oversea usage depends on what kind of clients they deal with. For those who deal with banks where clients frequently travel overseas, they probably know the relevant answers.

I deal with banks in small cities. All the bozo answers regarding oversea CC/ATM card usages came from the bank reps. Cluelessness is understatement. The posters here are far more knowledgeable than my bank/CU reps.