Is there anyone who doesn't use an ATM??
May 4th, 2007, 11:09 AM
#62
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Rhea,
Use this site (http://www.xe.com/ccc/) to figure out what the rate was and the percentage you were charged.
Use this site (http://www.xe.com/ccc/) to figure out what the rate was and the percentage you were charged.
May 4th, 2007, 11:39 AM
#64
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I just talked to our Credit Union and they said they charge $.50 per transaction on other ATM's even in Europe. They said that you may be charged a fee from that bank. How do I know what the extra fee is before I make the transaction? Is there always a fee from the bank on top of the $.50? Sounds like this isn't too bad of a way to go.
May 4th, 2007, 11:54 AM
#66
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This is an interesting thread because I'm having trouble understanding the reason people choose NOT to use ATMs and prefer to carry large sums of cash. Is it a safety issue? Do you believe it's more likely that:
(1) someone would steal your ATM card, learn your PIN number, circumvent the limit on withdrawals (typically $200-$300 per day), and clean out your bank account; or
(2) someone would steal a large amount of much more easily accessible cash from your pocket, purse, money belt, room safe or suitcase?
Few people seem concerned about using credit cards, which are much less secure, as the number is floating around anywhere you use it and is more likely to form part of a larger identity theft scheme than is the loss or misuse of an ATM card.
Theft of any financial access card has limited consequences for the holder particularly when it is reported promptly.
On the other hand, I know of someone who is such a successful poker player that he has more cash than he can easily dispose of; maybe there are more winning gamblers out there than I thought.
(1) someone would steal your ATM card, learn your PIN number, circumvent the limit on withdrawals (typically $200-$300 per day), and clean out your bank account; or
(2) someone would steal a large amount of much more easily accessible cash from your pocket, purse, money belt, room safe or suitcase?
Few people seem concerned about using credit cards, which are much less secure, as the number is floating around anywhere you use it and is more likely to form part of a larger identity theft scheme than is the loss or misuse of an ATM card.
Theft of any financial access card has limited consequences for the holder particularly when it is reported promptly.
On the other hand, I know of someone who is such a successful poker player that he has more cash than he can easily dispose of; maybe there are more winning gamblers out there than I thought.
May 4th, 2007, 05:16 PM
#67
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This subject is confusing to me as well. Over the past few years I have been travelling extensively through asia and SE asia, where it is very inexpensive for americans. So I have had to pay little attention to transaction fees, etc.
But europe is a different story. We have rented an apt.in venice that will require us to pay 800 euros upon arrival. So, we probably will need to exchange money before leaving the US or each of the 3 of us take out the limit upon arrival in venice at an ATM. My accounts are with B of America, whose currency exchange rate as of yesterday was $.142. I learned today that their ATM fee per transaction is $5, I assume on top of their less favorable rate? But then again, the exchange rate posted on currency exchange sites is of course not what the individual person would get. I still don't know which is the best way to go in my situation, any suggestions?
But europe is a different story. We have rented an apt.in venice that will require us to pay 800 euros upon arrival. So, we probably will need to exchange money before leaving the US or each of the 3 of us take out the limit upon arrival in venice at an ATM. My accounts are with B of America, whose currency exchange rate as of yesterday was $.142. I learned today that their ATM fee per transaction is $5, I assume on top of their less favorable rate? But then again, the exchange rate posted on currency exchange sites is of course not what the individual person would get. I still don't know which is the best way to go in my situation, any suggestions?
May 4th, 2007, 06:56 PM
#70
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fluff (et.al.)- I don't know where you live but Eastern Bank has a new offer and I'm using it, and the ATM card associated with it, for my trip to Europe. "True Blue"- no fee checking account. No fees for anything. No fees from either end. No fees at all. Zero. Zip.
May 5th, 2007, 10:13 AM
#72
Normal bank ATMs in Europe do not charge you a fee; only your own home bank.
There may be fees at an indepedent kiosk type ATM (just like in the US within a store or some place) for non-bank types.
There may be fees at an indepedent kiosk type ATM (just like in the US within a store or some place) for non-bank types.
May 5th, 2007, 11:57 AM
#73
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Yeah - whatever you do, don't get cash from an ATM in a pub or something. I like to always use one attached to a bank - so if something goes wrong and my card doesn't come back, I can see a human about it.
May 6th, 2007, 03:29 AM
#74
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"We have rented an apt.in venice that will require us to pay 800 euros upon arrival. So, we probably will need to exchange money before leaving the US or each of the 3 of us take out the limit upon arrival in venice at an ATM."
The latter seems the obvious course of action to me.
The latter seems the obvious course of action to me.
May 6th, 2007, 06:40 AM
#75
fluff224~ The normal advice doesn't apply if your husband is unwilling to use ATM. If that is more important than getting the best value for your money, simply order euro online or from your home bank. Buy two money belts, split the wad of cash, and each of you carry half.
Would not be my choice(!) but you have too many personal issues going on, that using the smartest and most comment method won't work for you.
Would not be my choice(!) but you have too many personal issues going on, that using the smartest and most comment method won't work for you.
May 6th, 2007, 06:57 AM
#77
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Obviously the cost must not be an issue, so I agree if you don't want the "problem" (whatever that is) of opening a standard bank account for using ATMs, then get as much cash as you want in advance and pay a few percent to do so. Are you aware that using a Visa Prepaid card adds 7% to every withdrawal and purchase you make with it? That's why I said, cost must not be an issue, if that didn't bother you before.
May 6th, 2007, 09:13 AM
#79
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After telling my husband about the VISA Prepaid car's 7% fee, that option was eliminated. YEAH! Neither of us wants to carry cash only, some OK. So, I think that we have resolved the issue and will go with the Credit Union and maybe get a few Euros before. I agree with you, Robspierre, about using an ATM at a bank. It does help to have an actual human to connect to when needed.
May 7th, 2007, 06:35 PM
#80
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Eastern Bank True Blue checking account. Have combined balance (checking, savings, money market, cd's, etc.) of $25,000. Use your ATM anywhere in world. No fees no fees no fees. No fine print. No fees. Did I mention no fees?
