Trophywife007

Oh... and when they ask, you want to be charged in the local currency only.

janisj

>>Last year in Japan, the ATM withdrawal fees were either free or very high - I didn't take the time to figure out why.<<

Japan is a 'special case'. Only use ATMs in 7-11's and/or post offices. That is where foreign cards work and there are no fees.



Bank-owned ATMs in Europe do not charge fees. Any fees (and the exchange rate) is determined by your own bank and it's system. Do not pre-purchase € - except perhaps a (very) small amount to get you through the first day. Never use a machine that is not bank-owned (in mini marts etc)

Jill02

Thanks to all!

I'm all set. I appreciate the reminder to warn my banks.

I especially like the point about opening "bonus" accounts (a new account to accrue the bonus points and protect the primary card).

I have a free credit union account through work that we use as a property tax impound account - I'll figure out the pin for that debit card.

And, yes. I'm really not lying. About 10 years ago, we only had one weird Macy's card with a Visa component on it that had no foreign transaction fee. I remember well because we rented a car in St. Martin and they reserved all the credit.

Since then, every card we hold has sent a notice of eliminating the FTF. True, one is an Amex that I wouldn't count on for Europe. But even the non-Citibank ones. We not-so-affectionately refer to Ctibank as **ittybank after countless hassles with them putting frequent security holds on our cards for our "own protection." Impossible to reach to get them lifted. Won't do business with them any more.

Anyway, credit cards and ATMs it is.

Thanks to all!

TravelinFeet

Hello! I just wrote you a long long explanation as to why you should always take some currency with you, and then the computer ate it.

So I'm not going to rewrite the long version but the short version is that there have been so many times when I have been very happy to of had $100 of euros in another hundred dollars of local currency, for example Morocco but flying through Europe, and I've had a good long laugh all the people standing around with their useless credit cards, hungry thirsty or both, I can't count them. Especially if you or a friend has an account at Bank of America their rate is quite decent and they will deliver them either to your local bank or to your door overnighted for about $10. Believe me when you're in an airport in Morocco or some small town anywhere, that $10 will seem like nothing in exchange for being able to buy a meal and a cold drink! And, frankly, I think it's just plain rude in a poor place to make an already poor merchant pay credit card fees. It's a different story of course on the Champs D'Elysee!

Ok. I'm clearly the odd man out here, but unless you're rich, used to traveling and won't get phased by being cashless if your plane arrives hours late, atmidnight in a strange city where are you now have to take a taxi because public transportation has shut down for the night or you need to make a phone call from a phone booth, get some cash and rest easier. (BTW it turned out that the ATM was in an entirely different section of the Frankfurt airport)

xyz123

Travelinfeet...I won't dispute that if one flies into Morocco one might decide to handle cash differently than say flying into CDG or LHR so one is quite right in saying one size should not fit all. And if it makes one feel better to have a small amount of local currency in their possession upon arrival to skip the ATM's or exchange places, that is certainly not something to be criticized and I don't mean to do so. I can also perhaps understand the need, although it really isn't wise, to bring a lot of currency if one is staying at bed and breakfasts which have not entered the 21st century and don't do business with cards. All that is fair enough and a matter of personal preference.

Now having said that, we are more and more headed for cashless socities. We're not there yet but it's starting. Sweden has all but abolished the use of cash. Merchants do not want cash and yes they want a card for $1.50 equivalent cup of coffee. Denmark is close behind. In most touristy places, at least in Western Europe, credit cards are today almost universally accepted and grudgingly places like German and Holland are beginning to give in.

As far as needing cash for public telephones I think you mention in your post, you will find the public phone is also quickly becoming obsolete. Using a public phone in an airport means getting wads of coins when your bank provides paper currency. But since 90% of locals or more no matter where you travel to use mobile phones and more and more visitors are beginning to realize that mobile rates for roaming are on the way down, having a mobile phone ready to go even one from your own country will probably be a much better way to make phone calls. But that's for other threads.

Bottom line of course is all people can do is lay out the alternatives and then armed with the knowledge one makes one's own decision of how they prefer to go. There was a time I was a person who felt my way or the highway but I've come to accept there is more than one way to do things. Just be aware of the costs.

Hnh6

<<Last year in Japan, the ATM withdrawal fees were either free or very high - I didn't take the time to figure out why. The charges were not from my bank- B of A. >>

I also have BoA debit, and the fees they state are $5 for every transaction plus 3% on the withdrawal amount. They waive the $5 at certain machines (definitely their partner banks'), but the 3% should stick regardless.

However, I found that the rate at Haneda exchange window was very good. It was within the 3% margin. The only times when I've had better rates were in Southeast Asia where there's an exchange kiosk around every corner.

<<<<
<<I'm American and have plenty of credit cards with no foreign transaction fee.>>

I find that very hard to believe unless you bank at one of a handful of credit unions (Andrews, Penn Federal...), or one of a very, very few regular banks with no fees. Almost every U.S. bank I know of charges at least a 1%, often 3%, transaction fee, and many of them charge you a flat fee for overseas ATM withdrawal as well.
>>>>

It's true. There are plenty of US credit cards nowadays that offer zero foreign transaction fee. Some charge an annual fee to keep the card, but some are free to obtain. A google search will tell you which ones those are. Since I bank with BoA, I use their Travel Rewards card which has neither an annual fee nor a ftf.

xyz123

Competition. More and more banks are advertising they have lowered ftf's to their proper level i.e. 0. At the beginning, you might find only those cards with annual fees had the proper ftf but some others did follow Capital One's lead which helped develop their credit card program by charging 0 ftf. SevSeral Bank of America cards (travel rewards) now have 0 ftf's. Almost all Citibank and Chase cards which have no annual fees do have the 3% ftf. USAA which for a long time simply passed through the 1% visa conversion fee and was considered a good guy recently dropped their ftf's.

So it's still something that has to be investigated by the cardholder for each individual card. For the most part, the credit unions for competitive reasons have 0 ftf's. The good news is that US federal law requires banks to make their fee structure clear when applying for a card and ftf's are listed under fees.

Dogeared

I'm trying to figure out the comment by northie:

"Well my chip and pin card (no signing cards in Oz at all) has not been accepted once in Europe so I have to sign every time whereas my husband who is with a different bank has no problems."

Did everyone else ignore it because it isn't about a USA card? I've never heard of an Australian Chip and PIN card having any problems in Europe.

You're leaving out some critical piece of info somewhere northie.