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Can I use an ATM card that is ONLY linked to a Savings Acct while in Ireland?

Can I use an ATM card that is ONLY linked to a Savings Acct while in Ireland?

Dec 3rd, 2002, 06:31 AM
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Can I use an ATM card that is ONLY linked to a Savings Acct while in Ireland?

Hi there -

Do you know if a TYME card that is only linked to a SAVINGS account will work in the ATM machines in Ireland? I have a savings acct in a separate bank from my main checking acct, and wanted to bring that card as a backup.
Assuming it is a CIRRUS / PLUS card, will it work? or does it have to be linked to checking?

thanks for your help.
Dec 3rd, 2002, 08:33 AM
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Highly unlikely. Unless things have changed in the last six months, your ATM must access a checking account.
Dec 3rd, 2002, 08:50 AM
Bob Brown
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I, too, am not sure you can do the switching funds that you are discussing.

However, if you can do on-line banking, could you not switch funds from a savings account to a checking account? You might need to establish the necessary procedures with your bank because many certificates of deposit are of a fixed duration with penalties for early withdrawal. Also, you need access to an internet computer, but those types of cafes are fairly common.

Another possibility would be to set up a telephone exchange plan with some financial institution. For example, I use Vanguard and T. Rowe Price. A phone call to either and I can initiate a transfer of funds to my checking account. I think it takes 3 business days for the transaction to be carried out.

The strategy I follow is to leave a deposit slip and a check on a money market fund with my son (who is trustworthy). If something serious were to go wrong while we were away from home, we would call him and tell him to deposit the check.

The only time I thought about this arrangement was on 9/12!! We were for the time being stranded in Europe and we had no way of knowing for several days how long we would be there.

Dec 3rd, 2002, 09:02 AM
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Actually it is an ordinary savings acct at a bank. ( I keep money in 2 banks - one with checking for everyday use, and this savings only account, that is my vacation fund. Not as easy to access - less chance of me spending it.)

I suppose , if push came to shove, I could move the savings money to a checking account there, so that I could get at the money from Ireland.
Dec 3rd, 2002, 09:28 AM
Bob Brown
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Fodors dropped my first post into the bit bucket. If it shows up later out of the depths, and you see two similar responses from me, that is the reason.

Debbie: I am not sure you can carry out the transaction you are asking about.
I have not been successful in such undertakings. On the other hand, I have not tried it in a long time. For the last few years I have just assumed I could not do what you describe, and I set up other arrangements.

I always carry two credit cards with me to Europe. That way I can float trip expenses until the payment due date.

Although I rely primarily on my checking account ATM card for local currency, I usually have a small reserve for emergencies in the form of US dollar traveler's checks. If I don't use the checks, I either redeposit them, or continue to carry them for reserve purposes. Some of my present checks have made more than one trip to Europe!

As a normal personal finance procedure I have a money market account. I can call the financial company on the telephone and ask for a transfer to my bank checking account.

Also, if you have a savings account with the same bank as your checking account, could you not use an internet computer while away from home and switch funds from one account to another?

Also as a catastrophe plan, I leave a money market check with my son with a bank deposit slip. That plan is for a huge disaster. The only time I thought that plan might come into play was on 9/12!! (And I think the events of 9/11 qualify as a disaster.)

After the shock wore off a little, I suddenly realized I was in Austria and my flight home was not flying that day, or the next. I did not know at that time when I could get home.

I think you can find a creative solution to the problem. As the old saying goes, there is more than one way to do it.

Dec 3rd, 2002, 09:36 AM
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I don't believe you can access a savings account. What I do is move money from savings to checking account in an amount I know will cover spending funds. Even if you over-estimate and pull more than you need, the interest you would lose would be minimal.
Dec 3rd, 2002, 10:16 AM
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Debbie, while I agree with previous posters in that I have never heard of being able to access a savings account, only a checking account, you really need to check with your bank about this to be sure. They will be the only place you are going to get an accurate answer!

Be aware that the first person you ask may not know the answer, but someone in the bank does!
Dec 3rd, 2002, 10:16 AM
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The only way to really know is to check with your bank. Mine even gave me a list of ATMs that I could use. That was several years ago when you were first able to use ATMs overseas, so they may have stopped providing lists.
Dec 3rd, 2002, 10:41 AM
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I wouldn't count on getting a straight reliable answers from a bank. I have talked to countless customer support staffs at local branches and at 800 numbers and their supervisors and only got useless "it should work" responses. There is probably someone who really knows what is going on, but a mere mortal customer will not get to access to these people.
What I found out after much of these useless "it should work" assurances, the oversea ATMs usually can perform only DDA (=checkings account) type of transactions. So if your account of interest is not linked to this type of access, you can't get your cash. "Usually" this is set up correctly if your ATM is liked to a checkings account.
Since I no longer trust banks to do the right things, I always travel with several backup methods for getting cash.
Dec 3rd, 2002, 10:45 PM
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When I went in 1996, my card worked fine against my credit union savings account. In 2001, the same card (CIRRUS)did NOT work, and it took lots of time to figure out that it would now work ONLY for a checking account. The ATMs there no longer prompt for "Savings or Checking" like they do here, they just expect Checking. So I opened a checking acct when I got home, and am ready to try it out when I return in May.
Dec 4th, 2002, 12:23 AM
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It's a great question but unfortunately there is a horrible answer.

The answer is.....maybe.

The problem is that European ATM's do not give you an option when requesting a cash withdrawal. They access the primary account on the card. Now in some cases the primary account on the card is a savings account (or a money market account) and it should and does work. But the problem is that you just don't know until you try it and if you are relying on it to be the sole means of procuring cash in Europe, you might be in for an unpleasant surprise.

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