Brockbank

Last year I used my Bank of America debit card at Baclays in the UK and BNP in France without an fee. This year I'm going to Italy and Greece, but Bank of America doesn't have fee-free banks there. Do any of you know companies with no or low fees? Besides my Bank of America debit, which I only use for travel, I also have a Wells Fargo debit card (visa, but there fee is $5.00 every time I use the ATM. Thanks

NeoPatrick

While I know there are some banks which won't charge you the fee, I just continue using my BofA card to withdraw money from my BofA checking account when I'm in those "non-partner" countries. I usually withdraw 300 to 500 euros at a time (some Italian ATMs will only let you take 250 euros though) and just pay the $5 fee to BofA. I figure it won't kill me and it's easier than changing all my banking for a trip just to save a couple dollars.

Michael

We use a credit union account for our travels. We deposit into a checking account the amount we think we will need, plus a buffer, and then use that account for ATM withdrawals and our credit card usage. We are not charged any fee for the ATM withdrawals (as compared to xe.com published rates) and only the 1% Visa fee on credit card purchases.

Brockbank

NeoPatrick, I will probably just use my Bank of America card, as long as I know it will work okay in the ATMs in Italy and Greece. I will also be using my Capital One Visa credit card a lot, but the Bank of America card is just for cash. Thanks for your help.

JoanneH

Don't use your BofA in Greece! I had to use mine and BofA charged me 9.98.
They said it was their fee and since the other bank was nonBofA, assoc $5.00 was their non member use fee.
Get another card!

J62

Last summer BofA did not charge me anything to get cash from Banco di Roma ATMs. I don't know why, as I was expecting $5 per transaction fee. Could be something about my account type, because it's certainly not about my average daily balance giving BofA a lot of float income.

For most withdrawals I used my local credit union ATM card with no fees - I just happened to need more cash one day and was above my CU limit (even though I'd requested it be raised before the trip).

clevelandbrown

Things can change, but it has been my understanding that the EU forbids banks in the EU from charging ATM fees. I also know that it is common for US banks to charge an ATM fee if you have the temerity to use an ATM that is not contractually bound to them.

So I suspect that peopled who are charged an ATM fee for withdrawals from an ATM in the EU are either using a non-bank ATM (such as those in convenience stores), or are using a bank ATM and being charged an out-of-network fee by their own bank, or both.

My bank has no ATMs (at least none that I know of) and I am always charged a fee for use of a domestic ATM, by the owner of the ATM, but my bank pays me, at the end of the month, an amount equal to the ATM fees I have run up.

Between ATM fees and the supplementary currency exchange fees added by some banks, it can cost a lot for using the wrong bank, and I suggest that anyone who travels more than a little should find a bank or credit union that offers a good deal, and take all your business there.

AtlTravelr

I was very disappointed with the way BofA was sticking it to their customers with the higher fee for international ATM withdrawls. Yes, it is not a great deal of money to add to the expense of your trip but it bothered me. My daughter was on her way to France for the year and I knew she would have to pay fees plus the foreign transaction fee. We both changed to the new Charles Schwab checking account. It is a free checking that earns a high interest rate and has a no-fee debit card. It will also return fees that are charged by other banks (though the foreign ones don't usually charge). I was told that the foreign transaction fee was 1% but so far I don't really see it broken out that way in my daughter's account. We will visit her next month so will know for sure how our card works but so far it seems to be a great deal.

NeoPatrick

Let's see 250 euros (if that's all you take at one time) is equal to about $370. If you withdraw $750 in a two week period, it has cost you a whopping $10. Compared to everything else you spend money on during a vacation, I'd hope that amount isn't going to break you, or seem "outrageous", but to each his own. Transferring money at home out of an interest earning bank account and going to the trouble of opening an account at a new bank or credit union (some of which DO charge for foreign ATM withdrawals,by the way) -- hmmm, how much should I put in for ATM use? -- seems like more effort than $10 or so is worth to me, but to each his own. If you are moving to Europe for a year and will be withdrawing a lot -- well, that's another matter. And yes, AltTravler, that Charles Schwab account is a good one -- but probably only worth doing on a vacation if you want to keep that as your active checking account.

J62, my BofA account allows me two withdrawals per month from any non-partner ATM without charge, maybe that's what you got? Since we use two different accounts, that's actually 4 free withdrawals per month.

sandi_travelnut

I believe that Charles Schwab checking acct. offer no ATM fees, even overseas ATMs.