ATM question--please help
 

We found out today that our regular bank charges $5 to use an ATM in Europe, and has a $100 per day limit, which cannot be raised.<BR>We have an ATM card at another bank which has much more reasonable fees and limits. However, it is linked to a savings account, not a checking account. When searching through old posts, someone mentioned that your ATM card must be linked to a checking account for it to work overseas. Is this true?

Message: We found out today that our regular bank charges $5 to use an ATM in Europe, and has a $100 per day limit, which cannot be raised.<BR>We have an ATM card at another bank which has much more reasonable fees and limits. However, it is linked to a savings account, not a checking account. When searching through old posts, someone mentioned that your ATM card must be linked to a checking account for it to work overseas. Is this true?<BR><BR>I can't give you a straight answer unfortunately. The ATM's in Europe do not give you a choice as to which account to withdraw from. They will withdraw from the primary account on the card. So apprently if you have a card and the primary account is a savings account, it will work. But some people have claimed that when they tried, it didn't work. So you will be taking your chances.<BR><BR>To me the solution is to open an accuont just for travelling and fill it up before you leave. A great bank I know of is USAA in San Antonio, Tx. They service you by mail. their basic chequing account is free with an ATM card. The nice thing about their ATM card is they give you 10 free withdrawals a statement cycle from ATM's not their own including those in Europe. They will even rebate on those<BR>free withdrawals the immoral "convenience" fees US banks charge US cardholders for having the audacity to use their machines (like it costs them money if a cardholders from another bank uses their machine; they receive an interchange fee from your bank through the shared teller network. But neither you nor I have ever met a banker who wouldn't screw a customer if it means a few extra bucks. Anyway, USAA's chequing account is free, comes with an ATM card and if you qualify for overdraft chequing they will give you a debit card with the same provisions as above. Before any trip, I fill up the account with my spending money and withdraw it upon return. Only bank I would ever use for ATM transactions.<BR>

Thanks for your reply, Jeff! I guess I was right to be concerned. I actually have a USAA Visa card, and you are right. Their customer service is excellent. The problem is, our trip is in 2 1/2 weeks. I guess I will have to see if a local bank can get us ATM cards within our time frame. Thanks again for your help.

Why don't to use the account you already have, open up a checking account that's linked to the existing savings account and transfer and/or deposit the money you need. That way you may not need to get a new atm card. Call the bank and see what they can do for you. Have a great time on your trip.

In my experience (in the UK), an ATM card linked to a savings acct works just fine. The ATMs don't ask you which acct you want to draw money out of, so if you open a checking acct that's also linked to the same ATM card, you run the risk of the money being in the "wrong" part of the acct. I'd just transfer the $$ into the savings acct from the bank that has the outrageous fee and lmit.