Old May 20th, 2002, 05:41 PM
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Don't banks charge a service fee each time you use an ATM? Don't these fees add up? I've traveled in 3rd world countries a lot and have carried my cash and credit cards in my socks and have never had any problems. As for passports I leave them at the hotel safe and carry a copy of my passport in my money belt.
Old May 20th, 2002, 06:02 PM
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My bank charges $2.00 to access the ATM for each transaction. I realized this after I spent a month in Paris and accessed it several times - I should have just gotten all I needed in a couple of transactions. Still, it only cost $10. In February, in Thailand, I only accessed once (didn't really need much cash). I keep everything in a money belt so feel very safe. Only carry one credit card and day's worth of cash in my purse.
Old May 20th, 2002, 06:47 PM
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My bank charges nothing. That's why I bank at my bank. If you bank charges a fee, complain. I have a slight edge, I suppose, as I run a small business and have all my accounts at the bank that I use, but no bank should charge a fee to access your money, whether you're traveling or at home.
Old May 20th, 2002, 07:03 PM
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Many banks charge a fee for using ATM's which are not their own. Some charge more for using an ATM in a foreign country as opposed to your home country (we'll assume your home country is the USA). Some banks (Wells Fargo, Bank of America) have even begun to surcharge the currency conversion of the ATM's by 2%. Now I'll tell you what you should do.<BR><BR>1. Find a bank which doesn't have the gall to charge you for accessing your money in an ATM even one not their own. A great bank I know is USAA in San Antonio Texas. They do not charge for 10 ATM transactions each month which are not their own nor do they charge an extra 2% conversion charge for foreign currency.<BR><BR>2. The two main shared teller networks are cirrus and plus. The former is owned and run by MasterCard, the later by Visa. They convert foreign currency charges into US currency. As with credit card transactions, they use the interbank rate and add the 1% currency exchange rate.<BR><BR>3. Now the good news. Under the rules of the shared teller networks, banks are not allowed to add the additional surcharge for use of their machines by holders of ATM cards from other countries. Thus British banks cannot add a surcharge to use their machine if your ATM card is issued by a US bank. Whatever fees you pay are those of your bank.....<BR><BR>4. Therefore if you are being charged fees, whether it be 75 cents, $1, $3, $5 your bank is ripping you off as these transactions should be free. How dare they charge me for accessing my money which they hold and don't pay market rates of interest. <BR><BR>I wouldn't do business for one second with a bank that rips me off like this.
Old May 20th, 2002, 07:21 PM
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Jeff Jaguar -- why are you posting your stuff under xxx nowadays? Like nobody can tell it's you... right
Old May 20th, 2002, 07:25 PM
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Who is JeffJaguar?
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