mjoibelle

Just went to my bank to "practice" ATM withdrawls since I'm a first timer!! I was told by the new accts person that I would be able to take money from my savings, where the majority of my money is located. Has anyone else had a problem with that? I'm assuming that I'll have the option to choose the directions in English (?) because I really don't want it to go through as a cash advance. Someone mentioned that it is ok if you don't keep a balance on your credit card to use that method. Won't I be charged interest on that immediately? Unless I send them a check as soon as I make the withdrawl, I can't see that would be the way to go unless my ATM cards just didn't work.

tom

In the U.S. an ATM card may be linked to several accounts (checking, savings, etc) although usually the checking account is designated as the "primary" account. Just because you can readily access several accounts in the US, is no assurance you can do the same overseas. Several have reported problems accessing their funds, for possibly this reason. <BR> <BR>The safest thing to do is have all your money in the primary (checking) account while travelling. Considering the puny interest banks pay on regular savings account (2% ?), the amount lost is probably not worth the risk of inaccessible money. <BR> <BR>regarding credit cards, there is a VERY stiff price to pay for cash advances. There is typically a cash advance fee of 3%. Also, the 15-18% interest starts accruing IMMEDIATELY (unlike for credit purchases, when the interest doesn't start unless you leave a partial balance at the end of your billing period. <BR> <BR>I'd only use a credit card cash advance as a last resort.

Dave

I agree with Tom. Put enough money in your checking account before you leave. I was just in Portugal and Spain, and withdrew cash by my ATM card several times without a problem. I believe that you are limited to about $200.00 US daily, so try to determine how much that is in the local currency. Check with your bank about this. <BR> <BR>

Brian in Atlanta

Listen to Tom and Dave. They're right on.

kristi

Michele, I don't recall having the option to choose between checking and savings at foreign ATM's although I can do that here in the US. So Tom's right on the money, transfer a healthy balance to your checking account while you are gone, and you probably will barely miss the interest. <BR> <BR>Foreign ATM's do ask you what language you want, English is always an option. <BR> <BR>Make sure your PIN is a 4 digit number, apparently the larger ones don't work in Europe. <BR> <BR>My card is part of the Cirrus network and I have been able to use it virtually everywhere I've traveled. I have had experiences where particular machines, even if they have the Cirrus logo, don't work. If that happens, usually the next one you try will. Do check the machine and make sure the logo on your card appears on the machine. <BR> <BR>Cash advances on your Visa/Mastercard are the worst way to get money. Using your credit card for a regular transaction, however, is a good way to purchase things in Europe. The exchange rate on credit cards is usually the best exchange rate although some credit cards tack on a foreign exchange fee. You can call your credit card to see if they do. The ATM rate is usually much better than what you will get at currency exchanges as well. <BR> <BR>Check with your bank about the withdrawal limit per day, I think my bank is $300.

Sandy

I travel extensively and have used my ATM card all over the world. In foreign countries, these transactions are almost exclusively tied to your checking account. <BR> <BR>A few days before I leave for a trip, I call my bank and have my daily limit raised for the time period I will be away. There is nothing more frustrating than running into a great "sale" or something and not being able to get any money! <BR> <BR>ATMs are the way to go! Happy travels, <BR>Sandy

elaine

Hi <BR>I am a former ATM worrier myself, but I joined a support group (this forum) a few years ago and got the help I needed. <BR>Don't worry. The absolute worse case scenario is that your ATM card won't work, or that the machine mangles your card; neither of which have happened to me or anyone I know. However, even under that unlikely scenario, you still needn't panic, as long as you have an emergency travelers check or two, an alternate ATM, debit, or credit card, and the phone number of your ATM issuer so you can call and scream. That will be inconvenient, but not a disaster. Make sure your PIN is 4 digits not starting with zero, as others have advised. Make sure your money is in the checking and not savings account. When I used ATMS in Europe, the savings account was not even an option. <BR>Use your credit card anyway to charge as many purchases as you can; you get a good exchange rate, and you can pay it all off at once as soon as you get home. <BR>Use cash from the ATM for incidental purchases or for places that don't take ccs. <BR>After the first time you use an ATM while abroad, you will relax.

greg

<BR>All the posting here I have seen here regarding checking-savings selection in Europe is that it does not work, you only can get it from the checking account side. I have never been given that option in Europe either. <BR> <BR>Regarding English option; you will EVENTUALLY get English direction, some countries are better than other. Usually on the first greeting page, but it is not ALWAYS the case. <BR> <BR>Also on the daily limit, in the US the per machine limit usually is lower than your daily limit. I have not encountered machine that allows withdrawal of more than $200 at a time although my daily limit is higher. Since I never had need to withdraw more than that, I have never tried if I use the card immediately there, it would give me more up to my daily limit. <BR> <BR>In Europe, either the ATM machines have higher limits or no limit altogether, I can withdraw all the way up to my daily limit. I request my bank to raise the daily limit before the trip. I find Europe to be more cash driven than the US.

Caitlin

One important point is to always inform your bank and credit card companies that you will be in Europe, and the dates of your trip. There are many stories on this board from those who did not and had their banks limit transactions because they were in Europe or did not fit your purchasing/banking "pattern," and therefore looked like they could be on a stolen card. Speaking of stolen cards: make sure that you take a record of your credit card/ATM card numbers (in some sort of code you won't forget), expiration dates, and contact numbers and keep it separate from yourself. Look at all the $$-safety advice on this forum. If you want ATM locations on the various networks (though you should have no trouble finding them), check out www.visa.com (Plus) and www.mastercard.com (Cirrus); they have extensive international listings.

Bob Brown

For ATM use, make it simple. <BR>1. Put the money in your primary checking account -- the account that matches your ATM card. <BR>2. Take both a check card (debit card) and a regular ATM card on the same account. (If two people are involved, each should have a card that accesses the money, assuming that there is mutual trust.) <BR>3. Make sure your PIN is 4 digits. <BR>4. Take a credit card and use it where possible to reduce ATM exposure. The less currency you withdraw, the less you have to carry about. A stolen credit card is protected in terms of liability; stolen currency is not. <BR>5. Don't take out cash advances on your cards. They are expensive. A 90 day note is probably cheaper in terms of interest than a credit card balance float or cash advance. (Those 18% interest rates are grusome.) <BR>6. Have a reserve supply of US Dollar denominated traveler's checks just in case. <BR> <BR>(If you don't use them, cash them after you return. You will feel less apprehensive if you have a "just in case" supply of money. My wife has a packet of AE checks from '98 and '99 and we plan to take them again this year. Who knows she might even cash one of them just for fun to see if TC's still work!! Some people say that TC's are obsolete. Well, you never know. I used one a few years ago to get pocket money at the airport in Zurich because the ATM was broken and my train was scheduled to leave in 15 minutes. I wanted a few items to take along -- like food. I don't like the idea of tying up huge amounts of $$ in checks because they are equal to an interest free loan to the TC company, but for some reason my wife likes to have her packet of checks. So the foregone interest earnings are worth her peace of mind.)

Ann

You may want to check the fees that your bank will charge you to use your ATM card outside the US. This should in now way stop you from using what has become the most convenient way to deal with money while traveling, but just to keep it in mind. My bank charges $5 per transaction, so I take enough cash for a few days. It's just that you could be in for a real shock when you get home if you've used the ATM's daily, and rack up a huge fee. Also, it makes you consider the frequency and amounts you take if you know before hand what the fees will be. By all means, use the ATM's though. It really is the best way to deal with foreign currency.

Anna

Also, make sure you know your PIN number in NUMBERS. I remember mine with a 4 letter word, and was shocked to discover that the keypads on foreign ATM machines did not have letters! You will also only have access to your "primary" account with no choice. It doesn't matter if all your accounts are checking, rather than savings, accounts, you will not have a choice.

joe

I used an atm with a four digit pin number starting with zero in France and England with no problem.

andy

I suggest you use your visa or mc for <BR>dinner, purchases, etc and your ATM card <BR>for withdrawals of french francs.... I <BR>did not have any problems over this weekend in Paris. You can always have a few "greenbacks" secreted somewhere in case of emergency?

Bob

Just a reminder, you are withdrawing Franch francs not dollars. The machines that I just used in France had a build in limit of 2000f, which was about $290. So whenever I needed cash I would withdrew 2000f.