Go Back  Fodor's Travel Talk Forums > Destinations > Europe
Reload this Page >

Canadian debit cards "no international fee"

Canadian debit cards "no international fee"

Oct 30th, 2005, 07:35 AM
  #1  
Original Poster
 
Join Date: Oct 2005
Posts: 14
Canadian debit cards "no international fee"

FYI...

Looking through these forums I got a useful tip for relying on an ATM card while travelling abroad.

Scotiacard seems to be a good bet for canadians. Your regular transaction cost will still apply. They use the daily conversion rate. You can only use certain bank machines (listed at bottom). From what I know this is the only Canadian debit card that will permit such transactions.

I talked to someone at royal bank & they said you can purchase a "Royal VIP Service" with a regular chequing account for 30$/month that allows unlimited debit transactions anywhere. No fee for another country. It might be convenient that you can use *any* ATM, but I don't think the 30$ is worth it.

Check out their link:
http://www.scotiabank.com/cda/conten...LIDen,00.html#

from their Scotiabank's site:

"And remember, you can avoid any of the international withdrawal/cash advance fees by using an ABM/ATM belonging to one of the member banks of our Global ATM Alliance. That means free access** to your account from over 24,000 cash machines at our partners in the following countries:

Australia - westpac
France - BNP Paribas
Germany - Deutsche bank
United Kingdom - Barclays
USA - Bank of America
flyingsolo is offline  
Oct 30th, 2005, 07:38 AM
  #2  
Original Poster
 
Join Date: Oct 2005
Posts: 14
here's the fine print

** By "Free Access", we mean Scotiabank will waive the International ABM Access Fee and Global ATM Alliance members will waive any terminal convenience or usage fees for any withdrawal transactions performed at Global ATM Alliance machines with your ScotiaCard or Scotiabank VISA.
"Free Access" does not apply to Scotiabank ABMs in Puerto Rico, Costa Rica, El Salvador, Panama or Belize. For foreign currency withdrawals performed at ABMs outside Canada, VISA International on our behalf determines the foreign currency exchange rate on the date of conversion. Effective from April 5, 2004, the exchange rate includes an amount equal to 2.5% of the converted amount. All regular account fees continue to apply.
flyingsolo is offline  
Oct 30th, 2005, 08:10 AM
  #3  
 
Join Date: Feb 2005
Posts: 9,017
That's all very nice. But can you tell, how much they actually charge and what are "regular transaction costs". As far as I found out only Deutsche Bank doesn't charge ANY fees using a DB card abroad within the ATM alliance and uses the official rate for foreign stock of the day. Westpac charges fees by using an unfavouarble exchange rate, but still claims "no fees" for withdrawing cash from alliance atms.

So what's the catch with Scotiabank? Can you post what rate incuding all fees you actually got using your scotiabank card at a foreign ATM???
logos999 is offline  
Oct 30th, 2005, 08:27 AM
  #4  
Original Poster
 
Join Date: Oct 2005
Posts: 14
I'm travelling next week so cannot comment on the total costs that you asked for.

By 'regular transaction cost', i just meant that let's say you have a chequing account with the bank that says you get 50 transactions for $6.50. If you make any transactions after that you will be charged some amount per transaction.
flyingsolo is offline  
Oct 30th, 2005, 09:22 AM
  #5  
 
Join Date: Mar 2003
Posts: 4,717
Flyingsolo: I'm afraid you've got that wrong. International ABM withdrawals are not included in the transactions allowed by your bank plan, and they carry a separate fee (unless you have one of the fancy and expensive plans like the one you found at RBC).

The Scotiacard fee per international ABM withdrawal is Cdn $ 5.00.

And their Global ATM Alliance would not do me the slightest good, since most of my travels are in Italy, where they have no partner bank.

I have debit cards from BMO and CIBC - they belong to different networks, so if one card doesn't work, the other will. They both charge only $ 3.00 per international ABM withdrawal. And, of course, they both have the 2.5% markup on the official exchange rate.
Eloise is offline  
Oct 30th, 2005, 09:22 AM
  #6  
 
Join Date: Dec 2003
Posts: 316
We use CIBC ATM. We can also access out accounts from our VISA card and convenience card. We have both in our wallets at the same time just in case our pockets are picked..as they were in Naples. We have never noticed high service charges. We normally pay cash for hotels because it can drive a 10 percent or more discount. On the morning when we leave a city, we withdraw enough cash to cover the hotel and a few days travel money. The ATM rate is so much better that the credit card or currency exchange rate that we do not care that much.
allanc is offline  
Oct 30th, 2005, 09:59 AM
  #7  
 
Join Date: Jan 2003
Posts: 2,256
Eloise, in Italy Deutschbank has a number of ATM's which we plan to use as part of our Bank of America Global Alliance. I found them listed in Sorrento and Amalfi and I know thy are enough in Rome and I would expect Naples. All places we intend to visit. Deborah
DeborahAnn is offline  
Oct 30th, 2005, 10:01 AM
  #8  
 
Join Date: Jan 2003
Posts: 2,256
OOPS, just got back from church must be why I typed THY instead of THERE Deborah
DeborahAnn is offline  
Oct 30th, 2005, 01:11 PM
  #9  
 
Join Date: Jul 2004
Posts: 3,498
Eloise, "The Scotiacard fee per international ABM withdrawal is Cdn $5.00." That is indeed the case. For example, if you withdraw funds from a Credit Agricole ATM in France, you will pay a $5.00 Cdn fee.

However, as ScotiaBank has an agreement with the banks flyingsolo mentioned at the end of her post, you can use your SotiaBank card to withdraw from a BNP Paribas ATM without incurring the $5.00 fee. I have done this countless times over the past several years. And you're right; there isn't an agreement with an Italian bank, so you'll pay the $5.00 if you withdraw funds there.

Anselm
AnselmAdorne is offline  
Oct 30th, 2005, 02:07 PM
  #10  
 
Join Date: Feb 2005
Posts: 9,017
Do you remember what exchange rate they used? It's not like it's a lot of money, but banks like Westpac claim not to take any fees for using their cards on alliance atms, but instead hide the fees by using the own special exchange rate which differs by up to 2% from what Deutsche Bank takes. So there not treating their customers fair at all! They don't take a 5$ fee, but make much more using a rate which takes 2% off your money on each withdrawal.

logos999 is offline  
Oct 30th, 2005, 03:27 PM
  #11  
 
Join Date: Jul 2004
Posts: 3,498
logos999, sorry, I'm about 1,500 kilometres from my bank statements at the moment.

Anselm
AnselmAdorne is offline  
Oct 30th, 2005, 04:42 PM
  #12  
Original Poster
 
Join Date: Oct 2005
Posts: 14
So will it be better to primarily use the scotiacard & make cash payments for daily expenses (to save the extra 2.5% that'll be added to credit card purchases), and use the credit card as a back up only?

Or, do they both amount to the same thing?

I'll probably get a few pounds & euros in hand before i leave canada. I hope that'll be good enough.
flyingsolo is offline  
Oct 30th, 2005, 05:02 PM
  #13  
 
Join Date: Jan 2003
Posts: 2,256
Anselm, Eloise, Deutschbank is in Italy so the 5.00 USD or Canadian can be avoided by using those ATM's. Two years ago the fee for the same out of service ATM was 1.50 USD per withdrawal. Quite a jump in fees I would say. Deborah
DeborahAnn is offline  
Oct 31st, 2005, 03:42 AM
  #14  
 
Join Date: Mar 2003
Posts: 4,717
Flyingsolo: It's six of one and half-a-dozen of the other. Canadian banks add their 2.5% markup to ATM withdrawals and to credit card charges.

ATM advantage: Some hotels will give you a discount if you pay cash.

Credit card advantage: If you're in a points program, you can collect points on what you spend in Europe.

Deborah: You are right, Deutsche Bank is in Italy. I even know where their ATM is in Venice, but I'll be darned if I'm willing to traipse all over Rome to find a Deutsche Bank ATM (yes, I know, I can look up the location on the Internet, but chances are it will still not be where I'd like it to be).
Eloise is offline  
Oct 31st, 2005, 10:14 AM
  #16  
 
Join Date: Jan 2003
Posts: 2,256
Eloise, I am counting on the bank ATM's being where the they say they are One is about a ten minute walk at Piazza Venezia according to our B&B. I plan on using that as often as needed. The Lonely Planet book for Naples even lists Deutsche banks in Sorrento and Amalfi. I've upped our daily limit so I won't have to stop very often. I hope this is a good strategy. I think these ATM bank fees are excessive. Deborah
DeborahAnn is offline  
Oct 31st, 2005, 10:27 AM
  #17  
 
Join Date: Feb 2005
Posts: 9,017
When you return, would you please post the date, how many € you withdrew and how much you actually were charged in CAD?

Thanks!
logos999 is offline  
Oct 31st, 2005, 10:48 AM
  #18  
 
Join Date: Mar 2003
Posts: 4,717
Deborah, I definitely agree with taking as much as possible per transaction. I usually do 500 Euros at a time, and I can generally get through three weeks with three withdrawals. The only problem is that I don't like to carry that much on me; I generally just leave most of my cash in my locked suitcase. But I am not now and never have been a member of the money-belt party. I spent four days in Palermo - Palermo, for heaven's sake! - at the beginning of October, carried a handbag everywhere and never felt threatened.

I would urge you to be very careful in Naples, though. For some reason, Naples strikes me as much iffier than Palermo, maybe only because it's considerably larger.

And do beware of the uniformed-looking types at Napoli Centrale who "help" you with your bags and then demand an exorbitant amount of money. But now that I think of it, you shouldn't have that problem, since both you and your husband will only have a carry-on each.

You leave tomorrow, so: Enjoy! Enjoy! (I'm confident that you will.)
Eloise is offline  
Oct 31st, 2005, 10:57 AM
  #19  
 
Join Date: Feb 2005
Posts: 9,017
What's so special about Palermo or Naples (Italy), what comes to mind to me for being really dangerous for tourists is Miami (Florida), but in no way Naples or Palermo. Funny isn't is. It's always more dangerous "abroad" than "at home"
logos999 is offline  
Oct 31st, 2005, 11:05 AM
  #20  
 
Join Date: Mar 2003
Posts: 4,717
Logos: Have you been in Palermo or in Naples, Italy? If you have not, you have no basis in fact for your remarks.

And I am "at home" in Canada and not the U.S.A. Our cities are extremely safe compared to Palermo or Naples, Italy. Which has not stopped me from spending time in both cities twice.
Eloise is offline  

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy -

FODOR'S VIDEO

All times are GMT -8. The time now is 07:59 AM.