bennnie

My daughter is leaving in a few weeks for a school trip to Italy and Greece. We are trying to find out the safest and least expensive way for her to have money available for incidentals. I'm thinking a prepaid debit card is safe and see that Visa offers TravelMOney but can't find info on their website about fees. Any suggestions?

Michel_Paris

Avoid VISA prepaid. WAY too expensive.

Best...have two ATM cards, two ddiferent banks. Make sure money is in primary account (no choice on machines to select checking or savings).

Heimdall

Have you checked with the trip organisers to see what they recommend?

KTtravel

I would head over to your bank and ask this question. We were able to open an account for our teenaged son when he went abroad. He then had his own debit card and access to an account that had a relatively small amount of money in it but enough to pay for all his travel needs. We kept that account open which was very useful when he went away to college.

J62

You can ask the trip organizers, but don't expect them to have a fully informed "best way" answer.

My DD took a HS trip to Italy a few years ago, and the organizers insisted that everyone carry $US travelers checks. We complied, but also gave her euro cash as spending money as we were not able to open a joint account, and chose not to give her one of our ATM cards. We figured the risk of losing the euros was lower than the hassle of having to count on TCs.

Turns out that the organizer spent needless hours waiting at banks to cash the TCs on behalf of the group, and they finally gave up & reverted to shaperone credit cards. Everyone squared up later, after the trip.

Zerlina

Try to open an account for her in a credit union, if there's one around. They generally charge the lowest mark-ups on foreign exchange and the lowest transaction fees on foreign ATM withdrawals with a debit card.

bennnie

Thank you for your responses.

1. Trip organizers haven't suggested anything yet. there is a meeting tomorrow and this is a topic I'll bring up.

2. I don't know that opening two bank accounts is necessary just so she can have a few hundred dollars available to her.

3. Neither of the local banks we deal with sell prepaid debit cards. AAA sells the Visa TravelMoney but not at our local club. She has a savings account but there isn't a debit card associated with it.

I wouldn't have thought this was an issue. Hopefully the other parents will have a solution.

KTtravel

You don't need to open two bank accounts -- just one -- and you'll probably want to do this in a short while anyway when she goes to college. The reason I suggest your local bank is that you have a credit history there and they may be willing to put a rush on the debit card to get it to you in time. Student accounts are usually free of fees, at least at our local bank.

I wouldn't recommend traveller's checks.

You could always send her with American cash which she would have to convert to local money. Most exchange places do not give as good a rate as she would get with a debit card.

greg

Looks like you are from the U.S.? Count of getting diverse opinions on this type of subject.

I have daughters that did similar things. Don't count on organizers to be familiar with the subject matter as you have read in one response above. You have to be familiar with the subject yourself to be able to validate what the organizer as well as know-it-all parents in your group might say.

I don't know how old is your daughter, but I think the banking rules differ by states. At least in my state, a minor younger than 18yr old cannot have a checking account in her name alone. It had to be a joint account with an adult.

Why checking account? While some claim their ATM card attached only to a savings account worked in Europe, there are even more whose ATM card did not work with savings account. My ATM card linked to a savings account did not work in France or Spain and it had nothing to do with fraud monitoring. I talked to a bank representative afterwards, he looked at the failed transactions and found out that the type of transaction generated by foreign ATMs could not be processed by my savings account - demand draft access.

One or more than one account? This has to do with capability vs. probability. One account alone is "capable" of giving your daughter an access. That particular card might not be able to give her the money at the time and the place of ATM with complete "probability." For those who have traveled with only one ATM card, which I know many, think this seems to be a silly question. But for those who had to rely on back up cards, the question of having more than one card is an important point. Again, this depends on your bank and other factors such as time zone differences between the ATM and your bank, etc. My bank might do an ATM network maintenance at off hours in their time zone, but is smack in the middle of a day in Europe. If she has a different fall back plan, such as borrowing money from friends, then the second card is not needed.

Michel_Paris

To explain further, when I go to an ATM machine in Europe, it will take money from my primary account. In my case, one card was linked to the accouint that I did not load up. So, I used a second account and it worked fine. There are also a couple of networks that ATM cards work on (you can see it on back of card. For example, PLUS). So haviung a second card just covers that potential situation.

Travellers cheques are a pain in the...and hard to cash.

You could also purchase some euros at home before going, but it will cost you ~5% in charges.

There have been some stories here on trip organizers who were a bit 'off the mark'. Same applies to bank tellers.

I think you will find the advice here accurate and up to date.

ATMs are the best way to go. No need to carry cash, located 'all over'.

annhig

the simple answer is that she needs a debit card which has access to an account from which she can draw a limited amount of cash on a frequent basis through ATMs.

How you achieve this may differ depending on her age and where you live - you may need to open an account in your joint names which you then feed from your/her regular account/s.

the reasons to limit the amount that can be drawn are I hope obvious - if she loses the card [or has it pinched] the criminal does not have access to endless funds, and there will be less cash for her to lose if she lost her purse.

you can ask your bank to put a limit on what can be drawn in a single day - €100 should be more than enough for someone on a school trip.

as she is going to be on a school trip I wouldn't bother with back-up cards/accounts - if one pupil loses theirs, there will be plenty of other kids [and the organisers] around to help out.

Michael

If you trust her, just get her an ATM card for your checking account and warn the bank that there will be withdrawals from Italy and Greece on that account. If the account is with the BofA, there are no fees for withdrawing the money from a BNL of Italy ATM.

Do <b>NOT</b> take TC's; as per J62's comment, they are literally a waste of time in Europe.

Heimdall

Well, if the trip organisers recommend TCs, then it is they who need to be educated, and your meeting tomorrow night is a good time to start. You should also be interested in what sort of safety net the chaperones will provide in the event a student loses an ATM card or other source of funds.

I agree that an ATM card linked to a checking account is probably the best alternative, even if it has to be a joint account. You could start out by depositing a modest amount, then top it up if necessary.

travelerjan

Whatever account you choose to use -- your own, or a separate account you use for her -- you MUST notify the bank that money will be withdrawn in Europe. Don't just phone the bank -- GO there, talk to the person at a desk, and watch while he/she makes the notation in the computer. Also... don't just say money will be withdrawn in Italy and Greece ... say "Europe." A firend of mine said "greece" but she changed planes in Frankfurt and wanted a snack during layover, and used a German ATM. Boinnnnggg!!! Her account immediately locked up, because it was a country not listed. A huge hassle.

Michel_Paris

Somewhat contrary advice.

I called my bank to warn about ATM upcoing foreign use, they dod not care and said not required.

VISA, yes, did make note of my travels.

I suppose most fraud is CC based

Ackislander

Some of this advice is needlessly confusing. Some of it is excellent. We have actually done what I am about to describe. It works.

Open a joint checking account with your daughter. Each of you should have an ATM card linked to that account. You can then deposit money wherever she is, and you will have a record of her withdrawals. This worked for our children all the way through university. She will need a 4 number pin to access the account.

For cash, she should have a money belt or pouch that fits under her clothes. These won't stop a professional thief, but they will prevent her from leaving her money behind or having it lifted out of her purse.

The tough part is going to be her electronics. An unattended iPad, iPod, or mobile phone will disappear, but she is going to want her music etc. You need to impress upon her that she cannot call, text, or use data the way she does at home or it will be VERY expensive. Like potentially $1000 expensive. Good luck.

Southam

Another reason for having debit cards on separate accounts is to cover the possibility of losing a card -- or having it gobbled up by an ATM machine. The two cards are never together; never in the same wallet or backpack or pocket.
But Bennnie has made clear that only a couple of hundred dollars will be needed. To save service charges (at your own bank) withdraw the cash all at once. A single card will probably be safe enough, especially if the ATM is inside a bank for extra security.
Then follow the original advice: Daughter keeps a little money in her wallet, the balance in the hotel safe or other place of safekeeping, where her passport belongs too. I am assuming, on a school trip, that hotels rather than hostels will be used and they should provide a safe service, even if it's only a drawer in the office. The trip organizers should supervise the arrangements.

victoria_reynolds

Is she only paying for incidentals? Meals & Hotels are included? What about sightseeing? if you don't want her to have 2 debit cards with her, you could deposit some $$ in the account of a trusted adult in case she loses her card. At the end of the trip, if there is no emergency, the chaperone would return the money to you. The other emergency back-up could be a CC from Capital One (preferably) which does not charge foreign transaction fees. To be used only in an emergency authorized by you. TCs are a liability and our US bank doesn't even issue them anymore. I agree she'll need to be vigilant about the electronics/passports not getting left somewhere or stolen and you need to call/visit your service provider to see what options you have for phone and data, as well as whether the hotels have WIFI which can help a lot. I'm sure the trip will be a lot of fun, but traveling without mom or dad, she'll have to be a little wary about keeping track of things that you might otherwise help out with.

bennnie

Thank you all for your great information. This is the reason I love Fodors!

Hotels, meals, transportation and admission to sights are all included in the trip. Parents are giving tip money to the trip organizer in advance. So the funds she'll carry is souvenirs, snacks and other little things.

I'll be sure to mention to the other parents the need to authorize all of Europe for any transactions - they are in fact transiting through Frankfurt.

She'll have a backup plan in the event of an emergency. She'll have her medical insurance card and we bought her a pouch to wear under her clothes for her documents.

I'll be sure to remind her about keeping her ipad and camera secure.

The tour group has a deal for a limited use international phone that allows texting and calls for a reasonable price. The group is also going to be blogging, so we'll be able to keep up with their activities that way.

The only thing left to figure out is the spending money thing. If we can get an ATM card set up for her quickly, we may go that route. Other parents are relying on prepaid debit cards like Visa TravelMoney. and of course, she'll have a small amount of cash too.

Thanks again for all the help. Any and all suggestions and tips are very much appreciated.

kybourbon

>>>Hotels, meals, transportation and admission to sights are all included in the trip.<<<

If this is with a student tour company, I don't imagine all meals will be included. I've never seen a student tour company include all meals. Typically it's just breakfast (which is often minimal and not enough to fill a teenager) and dinner or lunch (not both).

>>>She'll have her medical insurance card<<

Which will be of no use if it's a medical card from your insurance. Did she buy some kind of medical travel insurance?