We will be flying into London and taking the Chunnel to Paris..I have read that the best way to get money is through the ATM. Now my bank has told me that they will charge the usual 1.50 /tranaction fee. Will the ATM's each also charge a fee. Here in PA you can go to the WAWA and they do not charge a fee. Are there places in Paris and London similar that will not charge fees or if they all charge a fee any idea about what the fee would be. To avoid the fees maybe I should take out enough at 1. Also is the best rate given if we just try to charge as much as possible on our charge card. That is usually what we do on vacations in the states anyway...Can you tell this is our first overseas trip?

The best rate of exchange is with your ATM card. You will not pay a fee of any kind to use an ATM in London or Paris.

My bank charged me $3.50 for each of three withdrawals I made with my debit card 2 weeks ago in Paris.

The rates between ATM and credit card are comparable, but you could call both to see what rates they are offering right now and compare.

Just for ease, we still prefer to use the CC as much as possible in Europe, and use the ATM for whatever cash we need.

You will not be assessed a fee by the local bank for using the ATM - just the $1.50 from your bank. So really, why not just accept that you will have probably less than $10 in fees from the ATM and hit it several times (depending on the length of your trip) so that you don't have to carry large quantities of cash on you throughout the trip?

Only your own bank will charge you. The issuing bank(s) will not.

I have a VISA check card, and my bank doesn't charge a fee if I use it at an ATM in Europe. Why should they? It's my money. If your bank charges you to get your own money, I'd look for another bank to deal with. It's not like you are getting a cash advance with a credit card, although I've done that and paid off the balance when the statement came it. The interest was minimal.

Hi jo,

The only charge assessed for use of the ATM will be from your own bank.

Use your CC whenever you can, and use the ATMs for cash.

No, I didn't realize that this was your first trip. You seem so sophisticated.

I've got news for budman: The overwhelming majority of banks charge you a fee for ATM withdrawals initiated at another bank (that is not a branch of your bank, naturally).

My Bank of America ATM card is generally free (no charges for using it at partner banks in various countries -- B of A provides a list of those banks). In the event I can't find one of those partner banks and I have to use a different one in a foreign country, the first two withdrawals each month are still free. After that, there will be a $1.50 fee for each ATM withdrawal from a non-partner bank. So generally speaking I rarely pay any fee to use an ATM anywhere, except in New York City where there are no Bank of America ATMs and there are no partner banks! Go figure -- free almost anywhere in the world except New York City!!

HowardR, I have a VISA checkcard that I use at ATM's in Europe -- the funds come directly out of my checking account, and my bank, Commerce, does not charge a fee when I use it at ATM's in Europe. The ATM's in Europe do not charge me a fee. I've done it for years, and for my own peace of mind, called them again today to verify.

Granted, if I used my card in the States at another bank in the States, let's say, Bank of America, Bank of America will charge me a fee, usually a dollar or two.

If your bank charges you a fee for taking your own money out of your checking account at an ATM in Europe, get another bank or pay the fee.

Sounds as though I need to talk to my bank about my $3.50 fees; last trip it was 1.50.

Budman, I know what you're talking about, but it's still a reality that most banks make this charge when you access another bank's ATM.
And, since my bank provides excellent overall service and charges for little else, I'll stick with them for the occasional trip to Europe when I might spend $1.50 three or four times to get cash.

HowardR, not trying to make a meal out of this, but, there are banks, including mine, who DO NOT charge ATM fees. If I use my card at any ATM in Europe, I do not pay any ATM fees.

Now, that is Europe.

Here, in the States, if I use my ATM card at a another bank, to draw funds out of my bank, I pay the other bank an ATM fee -- usually a dollar or two, but I do not pay an ATM fee to my bank, maybe you pay one to yours. ((b)

It is quite simple...if you are on the cirrus or plus system, the regulations of these 2 shared teller networks do not allow a bank to charge for use of its machine on international transactions. Thus a US ATM or debit card used in a British ATM will be going through either the Plus or the Cirrus system. The US bank may charge its cardholder but the British bank is not allowed to by these regs.

Similarly if a British person goes to NY and uses an American ATM, he or she will be charged by their own British bank but the US bank will not assess its usual fee.

On a related note, a lot of credit card issuers have started tacking on some form of foreign currency exchange fee (1-3%) on charges in other currencies. They started sliding these fees in several years ago. So while the basic exchange rate for CCs is good, the extra charge removes some of the benefit. There are still CCs that don't do this, but you may have to look a little harder. For those interested, you can use the search function here to find several threads about this.

We have up to four free ATM withdrawals a month whether in the US or outside through our Credit Union. Unfortunately joschwin you may not draw unlimited amounts of money out of an ATM.. I think the most I have got at one time was the equivalent of $300. When I have tried for more it won't complete the transaction. I am with the other posters. Use your credit card for purchases and the ATM for cash. The charges aren't going to ruin your vacation and you can access ATM's all over the world for cash. (Some restaurants, etc. won't take CC's) I definitely agree, however, that $3.50 is too much for using your own money!