katzen

Update: My husband and I are now members of Commerce Bank ... Budman, the lady who we signed up with said that our daily cash ATM withdrawal limit is $500 and that is Max .. and between my card and my husband's card. So we wouldn't be able to each take out $500 daily (like you and your wife .. $1000). I know with other banks we each can take out the daily limit .. so is it possible that she mispoke? I also noticed that the customer service rep I spoke to when I called gave me a $300 daily ATM withdrawal limit ... and a $3000 debit card daily limit ... the lady we signed up with gave us a $500 ATM daily limit and our debit card daily amount is $2500. I guess it is true that each person you talk to gives you different amounts.

Budman

katzen, both my wife and I have our own ATM VISA check card, linked to the same checking account, each card with its own account number.

I agree with Commerce when it says the maximum ATM limit is $500 a day, starting and ending at midnight. That's true.

On our way to Grindelwald, I stopped by an ATM and took out 300 SFr. When we got to Grindelwald that evening, I tried to take out an additional 500 SFr, and the transaction rejected. I was a little puzzled, but when thought about the time difference realized I had to wait until 6am the following day. I then proceeded to take out 200 SFr, and the transaction was accepted. That was 500 SFr for the day, about $415 approx with the exchange rate.

My wife then used her card and took out 500 SFr, so from personal experience, the $1,000 between us rule worked, although we only took out approx $830.

I believe she misspoke. Call their 800 number and check/reconfirm. I did.

I never worried about my daily debit card amount because I had the VISA portion of my ATM card disabled, in case I lost it and someone could wipe out my checking account. I use my USAA M/C for all credit card purchases because I get 1.25% cash back on all charges at the end of the year.

mcnyc

Thanks katzen for asking this question, and Budman for recommending Commerce.

I currently have Citibank, which charges 1% each ATM withdrawal, which I didn't consider to be too bad (considering their credit cards charge 3% for foreign purchases), but being charged nothing is even better!

As for credit card, if you have a card like the Target visa, or Bloomingdale's visa, the forex charges are 1% of your purchases. Not too bad if you already have one and don't feel like applying for a new card.

Happy travels!

Travelnut

I have not read the replies but I work at Wachovia, and I opened an account at Compass Bank (Florida). They do not charge any ATM fees and rebate any fees you incur from other ATMs. They pass on the 1% Visa fee on the debit card purchases.
I opened a AAA Visa (with MBNA) that also only charges the 1% Visa fee, but supposedly you had to have applied prior to May 1 to get that account. After that point, they will pass on additional 2% 'foreign transaction' fee.

So, while my company is a good corporation to work for, I don't use their cards overseas.

katzen

Thanks everyone for posting .. I just called the Commerce 1-800 number and they confirmed what Budman said above. My husband and I do have a joint account and we can each take out $500 since we have to individual cards. I also found out the daily limit for debit card is $2000. I did tell the customer service rep that I've gotten 3 different replies and she said it's $500 and $2000. I think I'm good. Thank you for all the help!!

katzen

Oh and I forgot to mention .. I was also told that there are no fees associated with taking out cash at an ATM in Europe. Commerce Bank also does not charge the ISA of 1% nor any other fees when using their debit card at a merchant. Within the next year to year and a half they hope to open 700 more branches/ATM locations.