Pat,
I searched for guimbymoy and only got China highlights tour company. Maybe since it's an older thread, it doesn't come up. The trip reports I find very informative.

rkkwan,
Thanks for the note. I just got thru calling the bank and you are right, you can order just an ATM card. I'm not sure what I'll do yet. It's reassuring that you use it all the time with no problems.

Thanks for the clarification, rkkwan and Kathie. We also have straight ATM cards (no credit function), but you always have to enter your PIN at an ATM, supermarket terminal or similar.

We belatedly learnt a valuable lesson when my wife's bag (containing her cards) was stolen on a SF BART station last year. And that is, to each carry a different set of cards. We were each carrying duplicate cards issued on our two joint accounts - one with our bank, one with our credit union. Had we been forced to cancel her cards, mine would have been cancelled too. We were incredibly lucky insofar as the bag was recovered, with the cards intact, in a trash can outside the station, so it never came to that.

In future I'll carry the credit union's cards and my wife will carry the bank's cards, or vice versa. This might seem blindingly obvious to a lot of people, but it had never occurred to us.

And a big "thank you" to the helpful BART staff - and to the sadly unknown bum who was fossicking through the trash container, found the bag and handed it in. I wish we could have given him a reward.

LostinChina, I hope you'll forgive the thread hijack.

Neil,
No problem. We can learn from everyone's input!!

Most banks charge an exchange premium on debit as well as credit cards. make sure you clarify this with your bank before you go. Unfortunately, most banks currently charge 3% on any foreign exchange, whether credit, debit or ATM. You really have to look for a card that doesn't add the extra charges. I have an internet savings account with HSBC that does not charge for ATM withdrawals, and does not add a premium on foreign exchange.

I prefer an ATM - not debit - card but couldn't use it in many places out of US. I got an ATM debit and put in far less cash than my normal card. That's the one I take with now

I have never had a problem in China nor anywhere else with my no fee ATM and low fee CCs from USAA.
M (SMdA, Gto. MX)

My bank said no charge to use debit card, however will charge to use credit card. I also got an ATM card only in case I plan to just use that.

Thanks!

After wetting up an HSBC Direct internet savings account two weeks ago based on a post in this forum, today I received a "Dear Valued Customer" letter notifying that all foreign exchange including ATM withdrawals will incur a 3% "currency conversion fee". Given that it's all electronic, there should be virtually no cost to the bank. Furthermore, it would seem that most customers using foreign ATMs also would be the ones with substantial deposits that a bank would wish to keep.
Any opinions on why these banks want to shoot themselves in the foot?
Any current leads on banks with low ATM charges?

After setting up an HSBC Direct internet savings account with ATM card two weeks ago based on posts in this forum, today I received a "Dear Valued Customer" letter notifying that all foreign exchange including ATM withdrawals will incur a 3% "currency conversion fee". Given that it's all electronic, there should be virtually no cost to the bank. Furthermore, it would seem that most customers using foreign ATMs also would be the ones with substantial deposits that a bank would wish to keep.
Any opinions on why these banks want to shoot themselves in the foot?
Any current leads on banks with low ATM charges?

Economy and business models change over time.

For example, for years, HSBC's US operation was aggressive in the subprime lending market. Well, they need deposits to fund those lendings. So, low cost accounts, high interest rates, etc.

Now, things have changed. They wrote off lots of those loans, and even shut down a subsidiary. I guess they now have no need for you guys' large deposit. So, they'll rather make money from the 3% fees.