ATM frustration--need suggestion

Old Mar 25th, 2006, 01:18 PM
  #21  
 
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I have never heard of or experienced this weekend problem that some have mentioned. What I have learned, however, is that the "day" for which the limit is imposed must be midnight to midnight at the place where my credit union is located (on the west coast). Thus, I could not withdraw the maximum at, say, 5:00 pm in Switzerland one day, and get more money at 7:00 am the next morning--because it was still the "same day" back home. After 9 am there was no problem.

Don't worry about "hunting down" an ATM, even in the smaller towns. At least in the EU countries, they are everywhere.
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Old Mar 25th, 2006, 06:19 PM
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Robespierre, I bank at Commerce, the same as sandi mentioned. When I deposit checks or cash, I deposit it as "cash." It is immediately credited to my account.

When I go "on line" to review my account balance, it shows "balance" which may have been $500 at the time, and "available balance" which is my balance after depositing my funds/checks/cash. I can withdraw on the "available balance."

I'm sure the bank takes into account that I have funds available in my savings account should a deposited check be rejected.
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Old Mar 25th, 2006, 08:03 PM
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I've never run into this issue personally, but I see signs all over the counters in the bank warning that funds can't be spent as soon as they're deposited.

Savings accounts are not mentioned.
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Old Mar 26th, 2006, 06:48 AM
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I guess it depends how far off the main routes you get, but we've found ourselves in small towns that had neither a bank nor an ATM in Germany, Austria, and Italy. So if you're going be off in the boondocks, get some cash ahead of time.
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Old Mar 26th, 2006, 06:53 AM
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Holding funds before you can use them depends on your bank, and what kind of account you have. I recently deposited a $35,000 check from out of state in my account (don't ask) and was told that only $5000 would be available immediately. Three days later on line I saw the full amount was available. But I think that hold policy only starts with checks over $5000 for my Bank of America Advantage account.
 
Old Mar 26th, 2006, 09:46 AM
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I think any bank that gives you immediate access to a deposited check is just giving you free overdraft protection as a consumer service thing, and from your record as a depositor, and your other accounts. They don't literally have the money that minute, of course. It costs them nothing if you have another account for that amount or more that they can attach, if necessary. I've seen a lot of banks advertising that kind of thing. I remember reading an article about why banks still take so long to transfer funds nowadays when things are more electronic, and I don't recall the details, but for some arcane reason, I think it was not totally bogus--there is some time involved before they actually "get" your money from a deposited check. Not as much as they claim, as I recall, but it's not instantaneous.
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Old Mar 26th, 2006, 01:18 PM
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I am unsold on using ATM cards in Europe after my January trip. My banks charged me $5 per transaction. Grand larceny. Also, sometimes the magnetic strip did not work. I was glad that I brought a load of US dollars, half of which I changed to euros right after I got there. Most of my expenses were charged to my credit cards.
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Old Mar 26th, 2006, 02:00 PM
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hopscotch, most smart travelers would draw out a minimum of about 300 euro at a time from an ATM. If that withdrawal cost you $5.00 -- would you mind telling us where you converted over 350 dollars worth of euros and it cost you less than $5? We'd all like the name and address of this place.

Meanwhile I'm trying to figure out why if you took "a load" of US dollars on your January trip and were exchanging them for such a good rate, how did you know your ATM strip wasn't working? Why on earth were you also trying to withdraw money from an ATM when you already took all those dollars to exchange? What doesn't compute here?
 
Old Mar 26th, 2006, 02:40 PM
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hopscotch--I'd change banks.
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Old Mar 26th, 2006, 05:04 PM
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Stupid ATM question. Some time ago I read that the ATM's at the airports charge more fees (not your personal bank fee) than if you use the ATM at a bank or hotel. Is this true? We will be landing at Budapest. I have always taken travelers checks so this is my first ATM experience abroad. Thanks
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Old Mar 26th, 2006, 05:32 PM
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First of all, no bank in Europe will charge you ANY fee for using their ATM. So if it is a BANK ATM there will be no fee at the airport, in your hotel, or on the street. If on the other hand it is a generic ATM not owned and run by an actual bank, then it could be any kind of fee they want. At airports, I've only used regular bank ATMs and none have ever had a fee.
Once again, whatever fee you pay is determined and charged by your bank, not the bank that owns the ATM in Europe.
 
Old Mar 26th, 2006, 05:36 PM
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Neopolitan,

In euroland I drew 200 to 300 euros. However in non-euroland It was much less because I was passing through, so the cash exchange at a money store was a better deal.
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