Please, one more currency question
 

I just called my bank (BofA) and asked what they charge per transaction on my check debit/visa card and they said a $3.00 fee for withdrawing cash in addition to what the local bank in Europe charges. And for a debit card/visa purchase they charge 2% for the service. Also, my limit is the equiv. to $300 per day.<BR>I keep reading here that traveler's checks are not such good ideas, and to take debit card for ATM's. <BR>Does this sound like what you all have encountered? I am going to Italy in Sept.<BR>Thanks for any help.

I have a regular debit card (not a VISA). My bank charges nothing for withdrawals from ATM machines outside the USA, nor have I ever been charged a fee by the local European bank (though I understand in France that may be the case in the future).

Wow! $3 is high for an ATM charge (the European banks will not charge a fee--against the law). My credit union allows 4 withdrawals free per month; $1 after that.<BR><BR>I would get a different credit card for credit purchases; MBNA and Capital One don't charge the 2% that other banks do. Just apply on-line.<BR><BR>Here is a good article about that 2% surcharge imposed by some banks on their Visa/MC cards.<BR><BR>http://www.iht.com/articles/64314.htm

On my Senior Account I get two withdrawals from non BofA banks a month with no charge. The no free withdrawals may be due to the type of account you have. Also I have set a $500 a day limit on my withdraws. In addition if you use one of the following bank ATMs in Europe you will have no fee. Barclays in the UK, BNP in France or Deutsche in Germany.

Check again..I have BofA card..I pay no fee and I can withdraw $1000.00 a day...God ,I wish I had that much to withdraw!And I have withdawn 7 or 8 times in a 2 week period.Check what kind of account you have with them!And change it if nescessay

It sounds fairly normal to me -- I agree $3 is a little high (mine was recently raised to $2), but not as outrageous as some I've seen. The 2 pct charge I presume is due to foreign currency, not just for any charge, and that is common among a lot of banks on credit cards. It's kind of late to get another card anyway for September, although if you travel a lot you might want to in the future. My bank doesn't charge any percentage fee for the ATM withdrawal on top of the $2, I wouldn't like that at all.<BR><BR>I think your withdrawal limits depend on your credit, everybody's aren't the same. I can't imagine needing even that much myself, I've never withdrawn that much in one day (unless you are using it to pay a hotel bill).

Thanks for the input. I have applied for a AAA credit card to use in Italy (I hope it gets here in time) because I read in another thread that it is MBNA. I could transfer my checking to another bank that wouldnt charge such high fees, and use their ATM. I think BofA is out of touch with meeting the needs of their customers anyway.<BR>Any suggestions? I don't leave until Sept 20. Thanks again. I just hate to give BofA the extra money.

I also have BofA I have the advantage account. I was in Paris and London last August and only used ATM's I was never charged a fee of any kind. I will be going to Italy in Sept and plan on doing the same.

What credit card is the best to use?

European banks don´t charge fees for ATM withdrawals. We have laws against that. And Samu, VISA is best for Europe.

Jill -- You can certainly shop around for a bank that will not charge for ATM withdrawals in other countries. My experience is like StCirq's -- I've never been charged any fee, which is very convenient because it allows me to withdraw small amounts of cash more frequently as needed. That way I am never carrying huge sums on me.<BR><BR>Also, you can negotiate your ATM limit with your bank. Mine was $300 but that was completely inadequate for me when I was withdrawing money for a business trip. All I had to do was ask and the amount was raised.<BR><BR>In fact, you can negotiate a lot of things with your bank. Most people don't realize this. If they don't want to play, take your business elsewhere. Banks are VERY competitive.

Thanks everyone,I know it is cliche but I am really ignorant about money dealings. I sort of go blank when it comes to money matters, but I am trying to be better managed. Thus this thread (my friends are as bad as I am). <BR><BR>So I will ask my bank for an ATM card w/o Visa on it. (How about picture id on it?) And take two separate visa cards from different banks. So far so good?<BR>