pat

I`m with janis too. No one wanted t.c. in Croatia. I walked straight into a ATM and I was all set. I used my citibank card in the past, but with their new fees, I passed on that and opened a credit union account. So check with your bank, at least you have time.

Bigal

- Why don't you want to carry cash?










k- Why don't you want to carry cash?
The best answer I can give to that is....you gottabe kidding!!

As to this extra charges on ccs and trying to avoid them, I was in London last November and there was hardly any difference between the exchange rate on the CC and the ATM.For what it is worth, the difference in the peripheral
spending in terms of a week or so is insignificant if one thinks in terms of inconveniences one can create doing it.

PatSox

Thank you all for your insight!

I don't like to carry cash as I usually charge everything. I guess it's a combination of security and everyday habit. We will probably end up doing some of both.

I did just read an article in a travel magazine this week that Capital One does not charge a fee so I'm going to see if we can apply and get a card prior to our trip.

Thanks again!

hopscotch

I used to believe in ATM cards for drawing cash as I travel. After a month scooting around Europe in January I no longer believe. Both of my banks were charging $5 per transaction. Before you go, get specifics from your bank. And when you use an ATM device, get a weeks worth of euros (assuming you are in euroland) to lessen the pain.

Also, arm yourself with a hefty supply of $5 and $20 bills for small needs, especially if you are in the non-euro countries. If you don't need them over there you can always use them when you get home.

Credit cards are still a good option despite the foreign purchase fee which was 2% with my Mastercard debit card.

Travelers checks are dinosaurs.

Cash is the universal language. Always have a couple hundred dollars or euros in your pocket. You never know when your cards will work and when they won't. That magnetic strip failed me many times.

Michael

hopscotch,

check to see if your local credit union charges fees. Mine does not for either ATM withdrawals or for their credit card, when using either one of them abroad.

bob_brown

I think those of you who think that you are getting traveler's checks for nothing need to look at the bank wholesale rate of exchange.

I have bought foreign currency traveler's checks in a few unusual circumstances from AAA and from a major US bank. I paid about 5% above the wholesale rate of exchange when I made the purchase.

I strongly considered sending a check card through the mail and letting the person draw out what I owed them. Then I would change my PIN. Using that method would have cost me 1% rather than 5%.

Was I concerned that too much would be withdrawn had I sent the card in the mail? No, I was not. Had no reason to be less than confident.

Now do I carry US dollar checks? Yes. Have I used them. Rarely. Once I was in a bind and the local bank was Cirrus only and I was Plus. Hence my ATM card did not work then and there.

That is the only time in many trips out of the USA that I have used one of my checks. Once, however, it felt very good to have a few on me. The date was 9/12/2001. I was in Austria and mostly what we were hearing was that air traffic had come to a stop. What would stop next?

Incidentally, there is one aspect of 9/11 that I think was never well known.
The Austrian government allowed free calls to the US on 9/11 for about 12 hours. I remember we were staying in an apartment in the Ötztal and our landlady came by to tell us about the announcement by the Austrian Telecommunications Ministry.

katkat777

Like everyone else I agree w/janisj with one exception. I knew when I got to Paris I was taking a taxi to my hotel. I didn't think the cabbie would take a credit card and I didn't want to roam around wasting time and energy trying to find an ATM at CDG. I did exchange enough money for the taxi ride and a snack. I thought this was a small price to pay to have peace of mind.

Keith

katkat777, on my first trip to Europe, I departed without local currency and it was a mistake. Now I always arrive at the airport in a new country with some local money in my pocket.

At first, I would get some through a bank, but then realized that for small amounts, it was worth the cost of changing a few dollars at my departure airport from the US.

Now I bring back some foreign money at the end of my trip(s) and already have a few pounds, euros, pesos & Canadian dollars for my next trips.

They also come in handy for some ebay purchases.

Keith

nibblette

If you can not find a nearby credit union or a bank that does not charge ATMs fees, try USAA. You can get a no-fee ATM/debit card. USAA will refund up to $10/month in other banks' ATM fees. They levy no charge themselves.

Banks in Europe do not levy an ATM charge (the charge is from YOUR bank). So, in essence, USAA is a no-fee ATM card.
I have one and have the debit feature turned off. It is a pure ATM card for me.
I am like PatSox. I rarely use cash even at home. I had withdrawn 100 pounds once in England and came home with 70.

I use a separate credit card for most purchases. USAA only passes on the 1% MC/Visa fee. As of right now, Captial One does not even pass on this fee, so O% for foreign card use.

I still occasioanlly carry US$ TC as a back up. But the last time I had to use TCs (2002), I could only exchange them at the bank. And they were already converted into that country's currency!

nibblette

Oh, forgot to add. Watch out for Dynamic Currency Conversion with your credit card usage. Look on this forum for details of this scheme.

It appears to be spreading to Italy, not France yet. Check your credit card slip carefully before signing to make sure this was not done (charge should ONLY be listed in euros). If you see US$ listed, DO NOT SIGN! You have the right to have the charge redone in euros.

Carolina

I have recently switched back from ATMs, debit and credit cards to travellers' cheques. I get mine from AAA and don't pay any commission when I buy them. Even if I have to pay 2% when I cash them, this works out cheaper than my ATM and debit card fees. Also, I like to get quite a lot of cash at one go, not $100 or $200.
Carolena

Heimdall

Niblette, you seem to forget that not everyone is eligible for a USAA account. It is a great bank, but you have to be active duty military, guard, or reserve to become a member.

nibblette

Heimdall,

ANYONE can get use the USAA banking services, including checking, savings accts aa well as ATM and credit cards.
Only the insurance products are limited to military personnel (past, present, family).

nibblette

Sorry for the typos.
Meant to say anyone can use the USAA banking services. You can even apply over the phone. Google usaa for their website and numbers.

bradykp

From what I gather, Capital One is the only credit card that doesn't charge the fees for foreign purchases (not even the 1% that is imposed by visa/mastercard)

I have a credit union, and they do not charge fees. I also have citibank, and they allow 5 transactions in a month before charging fees.

My only problem is, what are the limits on what can be withdrawn in a day? I am paying cash for all my hotels, so that's a lot of cash! they all give a lower rate if you pay cash though, so it's worth it.

Heimdall

Nibblette,

I tried to register for an account with USAA on their website as a non military or family member, and this is what I got:

"Thank you for your interest. USAA is a member-owned insurance and financial services company.

Who can apply?
Active duty officer and enlisted personnel
National Guard and Reserve officer and enlisted personnel
Officer candidates in commissioning programs
Former spouses and adult children of USAA members"

It didn't distinguish between financial and insurance services. As a USAA member for over 40 years, I have never heard of anyone obtaining their services without meeting the eligibility requirements. Nevertheless, I will call USAA during their office hours and pass on what they tell me.

Budman

I was under the same impression several months ago so I called USAA. Yes, anyone can use their banking services.

Heimdall

And my call also confirmed that you are correct, Nibblette, so my apologies. Thanks for bringing it up - I have learned something new today.

USAA is indeed a great bank, and provided there are no out of state issues (USAA is registered in Texas), would be a good choice for anyone.

My USAA debit card is the most useful piece of plastic in my wallet. I reside overseas, and use it for most of my foreign exchange transactions. I also use it for purchases, rarely ever writing checks anymore. The online banking service is excellent, enabling me to always know my current balance, and make transfers between checking, savings, and credit card accounts.

I also use it for insurance, but for that you do have to be a member.