CREDIT CARDS & ATMS IN SPAIN AND ITALY
Jun 25th, 2006, 09:58 AM
#1
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CREDIT CARDS & ATMS IN SPAIN AND ITALY
WE WILL BE TRAVELING TO SPAIN IN SEPTEMBER AND ITALY THE FOLLOWING JUNE. HOW CAN WE AVOID THE 3% SURCHARGE MBNA IS CHARGING ON ALL TRANSACTIONS? IS THERE ANOTHER CARD WE CAN GET THAT DOES NOT CHARGE THE SURCHARGE? AND WHAT IS THE BEST CARD TO USE IN ATM MACHINES FOR CASH IN SPAIN AND ITALY? THANKS FOR YOUR HELP!
Jun 25th, 2006, 10:25 AM
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Well - some cards charge more than others - and you can search for a bank that has a lower charge on the rate of exchange. Many people have mentioned that Capitol One is better.
But you have to pay something for the service of converting funds - no one is going to do it for nothing - because then they would be losing money. Using a CC or debit card at 2 or 3% is still much better than paying the 8 to10% you will pay for changin cash or trav checks.
You just need to make sure you debit card is a member of the major networks that operate throughout europe - such as Cirrus or Star. It will indicate on the card which networks they are part of.
But you have to pay something for the service of converting funds - no one is going to do it for nothing - because then they would be losing money. Using a CC or debit card at 2 or 3% is still much better than paying the 8 to10% you will pay for changin cash or trav checks.
You just need to make sure you debit card is a member of the major networks that operate throughout europe - such as Cirrus or Star. It will indicate on the card which networks they are part of.
Jun 25th, 2006, 12:14 PM
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Hi Har,
Please don't type all capitals. It is harder to read than proper Upper/Lower case.
>HOW CAN WE AVOID THE 3% SURCHARGE MBNA IS CHARGING ON ALL TRANSACTIONS?<
Get a card from a local credit union.
Use Amex - only 2%.
Pay cash only.
>AND WHAT IS THE BEST CARD TO USE IN ATM MACHINES...
An ATM card. Do not use a credit card to get cash.
Please don't type all capitals. It is harder to read than proper Upper/Lower case.
>HOW CAN WE AVOID THE 3% SURCHARGE MBNA IS CHARGING ON ALL TRANSACTIONS?<
Get a card from a local credit union.
Use Amex - only 2%.
Pay cash only.
>AND WHAT IS THE BEST CARD TO USE IN ATM MACHINES...
An ATM card. Do not use a credit card to get cash.
Jun 25th, 2006, 12:28 PM
#5
The best card for an ATM is your normal ATM debit card tied to your home bank checking account, with a 4 digit numberic pin number. Ask your bank what the fee per transaction is ($0-5USD typical).
Jun 25th, 2006, 03:34 PM
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According to a recent article in the NY Times CapitalOne is the most friendly bank, as they do not pass on the 1% currency conversion fees charged by the network. Some banks and credit unions do pass on that charge, and alas many banks tack on their own surcharge.
The only way to be certain of any bank is to read the cardholder's agreement, and read all changes as what they do today is not necessary what they will do tomorrow.
The only way to be certain of any bank is to read the cardholder's agreement, and read all changes as what they do today is not necessary what they will do tomorrow.
