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-   -   Has anyone used Travelex as a debit card in Italy? (https://www.fodors.com/community/europe/has-anyone-used-travelex-as-a-debit-card-in-italy-1100451/)

Mas13 Apr 30th, 2016 06:25 AM

Has anyone used Travelex as a debit card in Italy?
 
Hi- Has anyone used or had experience with Travelex while traveling thru Italy as opposed to a U.S Debit card? Is it easier? Thank in advance!

StCirq Apr 30th, 2016 06:32 AM

Travelex is, hands down, THE worst mechanism for getting money anywhere in the entire world. I refuse to do business with those people. How they manage to stay in business is beyond me. Their business model is pure usury.

What could possibly be easier than sticking your ATM card into a machine, punching the right buttons, and taking your money?

janisj Apr 30th, 2016 07:33 AM

Why don't you want to use your debit/ATM card? Why pay someone else to deposit your $$, then pay them to withdraw it again?

Christina Apr 30th, 2016 11:25 AM

It wouldn't be easier, no, it would be the same method. Perhaps you can explain why you think it would be different as I'm not understanding.

Travelex is not the worst method of getting money in the entire world, getting cash using a credit card probably is. If someone doesn't have a bank account, it might not be a bad idea. Also, they have a chip and PIN debit card, which could be useful for those of us who don't have a credit card like that in the US, for certain types of purchases where you need that. But, they are expensive as their foreign transaction fee is 5.5%, although there is no ATM transaction charge. So some people who have veyr high bank fees per ATM foreign withdrawal, it could be very competitive or better (ie, if you have a card that charges $5 per ATM withdrawal, plus a 3% foreign transacation fee, and you want to usually withdraw the equivalency of about $100).

Plus there are fees for inactivity if you don't use it for at least 12 months. Not sure if there is a fee to cancel it, I would hope not, because then the best idea would be just to use it all up and then cancel it. Or maybe that is redundant, as they can't charge you a $20 inactivity fee if you have no money on the card any more, there is no way for them to get it. If so, I could see having one of these as a back-up actually, and for use in automated machines. They require a minimum $250 purchase and I don't think there is another fee if you do it online and pick it up at a store.

So I'd say it is "harder" than using your own card, if you have one, for these various reasons, but I could see its purpose in certain circumstances, with caveats.

Mas13 Apr 30th, 2016 11:59 AM

Thank you all. I guess i will just use my bank debit card. I was hesitant because I was not sure of how safe it was to use and if there were high fees associated with using it? I will look into it. Ty

StCirq Apr 30th, 2016 12:09 PM

If there are high fees associated with using your bank ATM card, they are fees from your own bank. There are no ATM fees from banks in Europe. If you bank somewhere that charges you withdrawal fees or a percentage (usually 1-3% of the withdrawal), you are banking with the wrong institution. Get an account, even if only for this trip, at a totally no-fee credit union like Andrews or Penn if you're currently banking with a U.S. bank that charges fees. There is never a good reason to give away your money.

As for safety, I have no idea what your concerns might be.

StCirq Apr 30th, 2016 12:13 PM

If there are fees associated with using your ATM card, they are from your own bank, not any European bank - they don't charge anything. If you bank somewhere where there is a withdrawal fee for ATM transactions, or a percentage fee, consider opening a no-fee-at-all account from a credit union like Andrews or Penn, even if only for this trip. There is never a good reason to give money away to your bank.

I have no idea what your safety concerns could be.

StCirq Apr 30th, 2016 12:14 PM

Oops, posted twice because I coldn't see that my first post went through. Sorry.....

Kathie Apr 30th, 2016 12:17 PM

Ask your bank what they charge per use in a foreign ATM and foreign exchange fee they charge. Big banks in the US usually charge $5 per use + 3% foreign exchange. If you bank has high fees, it may be time to find a credit union or small bank for your travel money.

St Cirq, credit unions you mention have no foreign exchange fee credit cards (as do even the biggest banks, like Capital One and Chase for specific cards), but do they have ATM cards that can be used with no fee?

StCirq Apr 30th, 2016 12:21 PM

Yes, they do. And absolutely no fees at all; neither withdrawal fees nor a percentage. Same with the United Nations and World Bank credit unions (but they have stricter requirements for membership).

janisj Apr 30th, 2016 12:27 PM

I have ATM/debit cards w/ one local credit union, one local bank, and two major banks - and the charge from zero (well actually that bank charges $4 but reimburses me) to $1.50, to $3 to $5 (I never take the $5 one overseas)

nytraveler Apr 30th, 2016 05:01 PM

The charges from your bank not only depend on what type of account/card you sign up for but what your balances are.

At Citibank - our major bank, although we have cards from others, if you have enough in other deposits (savings or CDs or even mortgages) they don;t charge you any flat fee and just a 1% over the interbank rate.

So before you rush out check your current cards for what they offer.

elbegewa Apr 30th, 2016 05:35 PM

If you are worried about someone getting access to your main banking account and withdrawing all your savings by hacking your debit card, you can check with your back about not linking your main accounts to the card, or alternatively, you can set up accounts in another back with a minimum amount of money, and have a debit card linked to that.

elbegewa Apr 30th, 2016 05:36 PM

oops back = bank

nochblad May 1st, 2016 12:06 AM

A new card which is linked to an app on your phone is Revolut - https://revolut.com/

It can hold balances in either US$, Euro or GB£. They promise a very competitive exchange rate. One particular advantage is that you can check at any time how much you still have available on your card.

StCirq May 1st, 2016 12:17 AM

From the Revolut website:

<<Topping up in GBP and EUR via debit card on the app is completely free.

Supporting debit card top-ups in USD is expensive for us. We are working to bring these costs down. Until then, we have to pass on our costs, which are 3% per USD top-up. In this case it might be cheaper for you to top up via bank transfer.

If you top up in a currency other than GBP, EUR or USD then your funds will be converted into one of these currencies with your banks exchange rate. We are adding more base currencies soon!>>

Ackislander May 1st, 2016 03:22 AM

I will suggest again that you enquire into the difference between an ATM card and a debit card.

If your bank won't give you an ATM card, find a bank/institution that will and use it as your travel account.

By the way, we just got back from the Netherlands and Belgium and never had a problem using a chip and signature credit card.

Kathie May 1st, 2016 07:42 AM

St Cirq - thanks for the info about fee-free ATM/debit cards from those credit unions.


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