Is there anyone who doesn't use an ATM??
May 7th, 2007, 07:28 PM
#83
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Great information! I'm taking a Grand Princess Cruise from Southampton,I anyone has done that cruise please respond.
Would appreciate the name of the bank who doesn't charge a fee to use the atm in Europe. I called Chase and they don't charge any conversion fees and will exchange $ for pounds at 2.04, which is the best rate around.
Would appreciate the name of the bank who doesn't charge a fee to use the atm in Europe. I called Chase and they don't charge any conversion fees and will exchange $ for pounds at 2.04, which is the best rate around.
May 7th, 2007, 07:28 PM
#84
Robespierre, have you also said that you use a Schwab credit card and it doesn't charge for currency conversion or am I making that up? I am looking for a new credit card now that my AAA Visa is going to start charging 3%, but when I checked the Schwab website it appeared that their card charges 2%.
May 7th, 2007, 08:19 PM
#85
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Here's a thought... Have you got any friends in Italy? Would they mind you writing a check to them and exchanging the check for cash? They might incur fees from their banks, perhaps you could offer to reimburse them. It still might be cheaper than having to pay 1% forex and withdrawal fees.
May 7th, 2007, 08:21 PM
#86
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We returned from France last month.
We, Ok I finally broke down and did the ATM withdrawl, due to a minor crisis. Our bank (Wachovia) charges 1% flat fee per international transaction (my Irish passport renewal confirmed this), you should check with your bank about charges. Truth be told it was painless and solved a minor problem in moments.
Prepaid, tried those back in 2000 with not happy results. ATM's did not take them and when I went into banks they couldn't locate the issuer within their system.
Now, we call the card issuer and advise them that we are going outside the USA, something infrequent travelers should do.
You are either going to have to carry a large amount of cash or travelers cheques.
Traveler cheques, you pay twice, once when you buy and then again when you convert to local currency. Not to mention many establishments do not take these.
Credit cards, check with the issuer about international usage and fees, some charge 1-5% per transaction, also for cash advances the interest rate normally goes higher than for other charges.
Take some time and rethink the ATM or let your husband worry about the trip.
We, Ok I finally broke down and did the ATM withdrawl, due to a minor crisis. Our bank (Wachovia) charges 1% flat fee per international transaction (my Irish passport renewal confirmed this), you should check with your bank about charges. Truth be told it was painless and solved a minor problem in moments.
Prepaid, tried those back in 2000 with not happy results. ATM's did not take them and when I went into banks they couldn't locate the issuer within their system.
Now, we call the card issuer and advise them that we are going outside the USA, something infrequent travelers should do.
You are either going to have to carry a large amount of cash or travelers cheques.
Traveler cheques, you pay twice, once when you buy and then again when you convert to local currency. Not to mention many establishments do not take these.
Credit cards, check with the issuer about international usage and fees, some charge 1-5% per transaction, also for cash advances the interest rate normally goes higher than for other charges.
Take some time and rethink the ATM or let your husband worry about the trip.
May 7th, 2007, 08:58 PM
#87
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I think most Americans have an ATM card, if not a stand-alone card then a bank-issued debit card tied to their checking account that also functions as an ATM card. These cards generally carry similar fraud protections as a credit card and the the use of a PIN can make them even more secure than a credit card.
Although I don't use ATMs at home, when we travel I do, always withdrawing the maximum amount allowable. I also use the same card to pay for items overseas from my checking account without any difficulty. Because I am often paid in cash I usually have plenty on hand or I just ask for cash back when paying for groceries with my checking account debit card. So much more convenient than carrying a checkbook and easier to track expenditures than cash.
Carrying a PIN-protected ATM/Debit card isn't a big deal and what you save in convenience and peace of mind knowing your liability is limited and you have protection from theft or fraud really is priceless. Shellio had a great solution.
Now go have a wonderfully care-free Italian 31st anniversary!
Although I don't use ATMs at home, when we travel I do, always withdrawing the maximum amount allowable. I also use the same card to pay for items overseas from my checking account without any difficulty. Because I am often paid in cash I usually have plenty on hand or I just ask for cash back when paying for groceries with my checking account debit card. So much more convenient than carrying a checkbook and easier to track expenditures than cash.
Carrying a PIN-protected ATM/Debit card isn't a big deal and what you save in convenience and peace of mind knowing your liability is limited and you have protection from theft or fraud really is priceless. Shellio had a great solution.
Now go have a wonderfully care-free Italian 31st anniversary!
May 7th, 2007, 10:00 PM
#88
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I forgot, there is a 24 hour transaction hold, you won't notice it but its there to protect you.
We found this out some time ago when on a three day week-end we checked the account via the internet and there were charges we did not understand. A quick call to the bank stopped the transactions, we lost nothing.
If your dealing with a major bank than they have many safeguards in place, you need to ask, please the manager not the teller.
I rarely carry cash even in Europe, I live in the USA and for practical purposes never carry cash, where are you going to put it while you travel?
Our last trip we took $400 approx in Euros. We prepaid everything we could, had to up-grade the hotel room, needed gifts for the kids and other family members, 60 Euros for lunch, 90 Euros for dinner. Okay, we could have put all of this on credit cards but why pay the interest rates?
Look take hubby to your bank, make an appointment first, he might be surprised.
We found this out some time ago when on a three day week-end we checked the account via the internet and there were charges we did not understand. A quick call to the bank stopped the transactions, we lost nothing.
If your dealing with a major bank than they have many safeguards in place, you need to ask, please the manager not the teller.
I rarely carry cash even in Europe, I live in the USA and for practical purposes never carry cash, where are you going to put it while you travel?
Our last trip we took $400 approx in Euros. We prepaid everything we could, had to up-grade the hotel room, needed gifts for the kids and other family members, 60 Euros for lunch, 90 Euros for dinner. Okay, we could have put all of this on credit cards but why pay the interest rates?
Look take hubby to your bank, make an appointment first, he might be surprised.
May 14th, 2007, 10:36 AM
#89
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After reading all the replies, I found that I am a rare one for not using an ATM!! I went to my Credit Union to day to talk to them in person. I can open an account and keep as little as $5 in it with no fees. The fee to use a non affiliated ATM is $.50 and any fees from the cashing bank. If I've read correctly, banks in Italy don't have an additional charge??? So, my husband is completely comfortable with this method and I'm a lot happier now too. We leave June 4th!! 
May 14th, 2007, 10:45 AM
#90
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About debit cards, Cupid 1 says:
"These cards generally carry similar fraud protections as a credit card"; this is usually not true. You are usually liable for the first $500 rather than the first $50 in fraudulent charges. Check your fine print.
and
"the the use of a PIN can make them even more secure than a credit card"; this is true.
"These cards generally carry similar fraud protections as a credit card"; this is usually not true. You are usually liable for the first $500 rather than the first $50 in fraudulent charges. Check your fine print.
and
"the the use of a PIN can make them even more secure than a credit card"; this is true.
May 15th, 2007, 06:18 AM
#92
Good for you!!! No, bank ATM machines in Italy do not charge you, only your home bank.
That said, don't use an independent kiosk-type machine, like you'd see within a store or restaurant, those usually do tack on additional fees. You want a normal bank machine, preferable one that is actually at a bank.
That said, don't use an independent kiosk-type machine, like you'd see within a store or restaurant, those usually do tack on additional fees. You want a normal bank machine, preferable one that is actually at a bank.
May 15th, 2007, 08:12 AM
#93
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Fluff,
With our credit union, the minimum $5 to open account applies only to a <b>savings account</b>. ATM cards work off a <b>checking account</b>. You will need to open a temporary checking account in your credit union, to be closed at the end of your travels--at least that's what I do because it requires a minimum of $1000 to avoid monthly fees and the interest is too low on it.
With our credit union, the minimum $5 to open account applies only to a <b>savings account</b>. ATM cards work off a <b>checking account</b>. You will need to open a temporary checking account in your credit union, to be closed at the end of your travels--at least that's what I do because it requires a minimum of $1000 to avoid monthly fees and the interest is too low on it.
May 15th, 2007, 10:28 AM
#94
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Very good point, as it may be fluff will get an account just for this purpose and then be unable to use it, anyway, if it's only savings. A lot of banks have low minimums for savings accounts as there isn't as much maintenance as checking accounts. My bank does have a low/no minimum checking account, but it has a monthly $5 maintenance fee. Any account without a fee has to be at least $750.
However, I know some credit unions do have no minimum/no fee checking accounts (Navy, for example), so maybe fluff is lucky and has one that does.
However, I know some credit unions do have no minimum/no fee checking accounts (Navy, for example), so maybe fluff is lucky and has one that does.
May 15th, 2007, 10:41 AM
#95
in my experience (just here in CA) Credit unions don't assess fees on their members' checking accts and have no minimum balances. Now that just may be because of the competition and they would lose too many customers to other CUs.
I have a tiny checking acct at one CU (maybe $50 in it most of the year) that I stock up before a trip and use as my back up ATM acct.
I have a tiny checking acct at one CU (maybe $50 in it most of the year) that I stock up before a trip and use as my back up ATM acct.
May 15th, 2007, 11:33 AM
#97
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I went to the CU today and opened up a checking acct. & a savings acct. with $5 min. I will use the checking for the ATM. There are no fees for not keeping a min. bal. in either. I checke about liability in case it is stolen and was told you call ASAP and they've never had trouble refunding the lost $. Didn't see that in writing anywhere.
Jun 1st, 2007, 04:38 PM
#98
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Here is an articles about the reality of liability protection:
http://redtape.msnbc.com/2007/06/bank_overdraft_.html
http://redtape.msnbc.com/2007/06/bank_overdraft_.html
