Still Confused about Capital One Cards
Jul 6th, 2009, 02:13 PM
#1
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Still Confused about Capital One Cards
We had a Washington Mutual account that charged a 1% foreign transaction on the use of our debit card overseas, whether it was withdrawing money from an ATM or a direct purchase, such as a hotel bill. Now that Chase has taken over, the fee is 3%. So I called Capital One and talked to 3 different people in their call center. I was told that I need a debit card attached to a money market account for ATM withdrawals only; then I need another card that is an actual credit card for direct purchases. There would be no foreign transaction fees on either card. Is it correct that I need both cards? With my old Washington Mutual, I used the same debit card for ATM withdrawals as well as direct purchases.
Thanks.
Thanks.
Jul 6th, 2009, 02:38 PM
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Hi there, I just checked their website FAQ (https://www.wamu.com/search/faqdetai...49&actp=search) and it says that they charge 1% for ATM transactions and 3% for other transactions (e.g., point-of-sale transactions).
Jul 6th, 2009, 02:39 PM
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It might have something to do with the regulations on withdrawals on Money Market accounts. (Reg D)
If you live in an area where Capital One has branches, you can go open a free checking account and get a Debit card to use as you've envisioned. There is no add-on% for foreign currency, but there is a $1.50fee for ATM withdrawals.
If you live in an area where Capital One has branches, you can go open a free checking account and get a Debit card to use as you've envisioned. There is no add-on% for foreign currency, but there is a $1.50fee for ATM withdrawals.
Jul 6th, 2009, 02:40 PM
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I just have One Capital credit card that I use when I travel to Europe..It can be used both ways for cash or credits transactions.
I dont know why they told you that you need the ATM card also.
Unless the rules are changed, I used mines two years ago in Rome and will be using it again in September.
I dont know why they told you that you need the ATM card also.
Unless the rules are changed, I used mines two years ago in Rome and will be using it again in September.
Jul 6th, 2009, 02:44 PM
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The short answer: Yes.
There is no "debit card" offered with the online money market account. Afaik, Capital One does not offer a debit card with any of its "Direct Banking" accounts (online savings and money market accounts). It offers an ATM card only, which allows withdrawals from an ATM, but no purchases.
I think Capital One offers debit cards with its "regular" checking accounts, available in the states where it has branches (CT, LA, NJ, NY, TX). (I think this is right, but I may be wrong b/c I don't have a checking acct with them.)
If you want a debit card attached to a checking account, you probably need to look elsewhere (unless you can get a regular checking acct at Capital One if you live near a branch).
A credit card is not linked to a bank account of any kind, online or not. That's why it's called "credit" - it's a loan you pay back. Don't use it in an ATM machine unless you are prepared to pay through the nose for a cash advance.
There is no "debit card" offered with the online money market account. Afaik, Capital One does not offer a debit card with any of its "Direct Banking" accounts (online savings and money market accounts). It offers an ATM card only, which allows withdrawals from an ATM, but no purchases.
I think Capital One offers debit cards with its "regular" checking accounts, available in the states where it has branches (CT, LA, NJ, NY, TX). (I think this is right, but I may be wrong b/c I don't have a checking acct with them.)
If you want a debit card attached to a checking account, you probably need to look elsewhere (unless you can get a regular checking acct at Capital One if you live near a branch).
A credit card is not linked to a bank account of any kind, online or not. That's why it's called "credit" - it's a loan you pay back. Don't use it in an ATM machine unless you are prepared to pay through the nose for a cash advance.
Jul 6th, 2009, 03:54 PM
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The deal is that if you only do online banking at Cap One, you can only get an ATM card. The online account is usually a savings account or MMA.
Or, in other words, Cheryl is right.
If you bank with their brick-and-mortar banks, you can get a debit card for the account.
And I got that info from one of their branch managers when I wanted to get a debit card for my online account.
Or, in other words, Cheryl is right.
If you bank with their brick-and-mortar banks, you can get a debit card for the account.
And I got that info from one of their branch managers when I wanted to get a debit card for my online account.
Jul 6th, 2009, 05:16 PM
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Yup. I had to go into a San Antonio branch to finish opening my free checking account. Since I visit family around there 2-3 times/year, it worked out for me. I can then do online funds transfers to get money into the account for my travel expenses. I would never use a <u>Credit</u> card for cash, unless dire emergency.
