The Best (and Worst) Cards
Mar 9th, 2007, 04:46 PM
#21
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And I can attest that I love my BofA, I never pay a fee if I use a partner bank and I have 2 out of network fee free transactions.
ANd as Patrick said..the rate takes care of the exchange fee. Maybe you have the wrong kind of account.
ANd as Patrick said..the rate takes care of the exchange fee. Maybe you have the wrong kind of account.
Mar 9th, 2007, 05:06 PM
#22
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I used a WaMu at an ATM in Turkey October 2007 to withdraw money. My statement shows a withdrawal of $274.63 and a $2.74 Foreign Transaction Fee. So I was charged 1% and no other fees.
My credit union charged $1.25 for each ATM withdrawal that I made on the trip.
My credit union charged $1.25 for each ATM withdrawal that I made on the trip.
Mar 9th, 2007, 05:15 PM
#23
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Susan, you weren't charged a $3 fee? I wonder whether they've changed their policy since then.
My daughter's main reason for changing banks was to find one that would cause her the fewest hassles and charge her the fewest fees while she was in Ireland. So, of course, we made a point of asking about out of country ATM fees. That's how we found out that there was a $3 out of country charge but only a 1% conversion fee.
Another reason she went with WAMU is that they do free international wiring of funds. Her original intent was to get an account in Ireland and then wire funds online from her account at WAMU to the one in Ireland. But she's run into so many other little glitches that she hasn't had a chance to even try to open an account. Now that she has less than 3 months left, I'm not sure whether she'll bother.
My daughter's main reason for changing banks was to find one that would cause her the fewest hassles and charge her the fewest fees while she was in Ireland. So, of course, we made a point of asking about out of country ATM fees. That's how we found out that there was a $3 out of country charge but only a 1% conversion fee.
Another reason she went with WAMU is that they do free international wiring of funds. Her original intent was to get an account in Ireland and then wire funds online from her account at WAMU to the one in Ireland. But she's run into so many other little glitches that she hasn't had a chance to even try to open an account. Now that she has less than 3 months left, I'm not sure whether she'll bother.
Mar 10th, 2007, 09:16 AM
#24
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CAPH52--I was not charged the $3 fee but did pay 1% in October 2006. I do not know if that is always true since I only used the card one time. It seems that WaMu is always making changes, so it is difficult to know what to believe. I opened the WaMu account to have more options if I had trouble with my credit union ATM cards. The WaMu that I have is a debit card.
There had been many discussions here at Fodors about using ATM and/or debit cards in Europe. Since I did not have a debit card, I opened the account at WaMu.
I would try calling their 800 number at WaMu and talk to the customer service department. Find out about the different types of accounts and charges.
Good luck with your search for a good bank and card. Be sure to read the fine print in their account disclosures and regulations.
There had been many discussions here at Fodors about using ATM and/or debit cards in Europe. Since I did not have a debit card, I opened the account at WaMu.
I would try calling their 800 number at WaMu and talk to the customer service department. Find out about the different types of accounts and charges.
Good luck with your search for a good bank and card. Be sure to read the fine print in their account disclosures and regulations.
Mar 10th, 2007, 10:19 AM
#25
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"I used a WaMu at an ATM in Turkey October 2007..."
You did? Or you will?
"My statement shows a withdrawal of $274.63 and a $2.74 Foreign Transaction Fee...."
What was the Interbank rate that day? There may be a markup hidden in that $274.
You did? Or you will?
"My statement shows a withdrawal of $274.63 and a $2.74 Foreign Transaction Fee...."
What was the Interbank rate that day? There may be a markup hidden in that $274.
Mar 10th, 2007, 10:05 PM
#27
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I can confirm that Capital One (over the past ten, or more, years) still has no "currency conversion fee" and absorbs the 1%. I subscribe to ucc.xe.net with daily e-mails of exchange rates. I save all slips and compare them to my statements. Without fail, each and every transaction over the years has been 99.9% or more (depending upon when the transaction takes place versus posted to your account... I would suppose) of the "interbank" rate.
Our ATM/debit card with our local/regional bank is also without any currency conversion fee, or any ATM withdrawal fees, because we took advantage of a 1% automobile loan year before last, even though we could have just paid cash. Transactions are also calculated at the "interbank" rate.
For sure, you positively cannot depend on what any representative tells you on the phone. You MUST read those little leaflets that are included with your statement or are mailed separately ("important information regarding your account"
and good luck figuring out what they are trying to tell you!
Some credit cards, such as Citibank, not only have the "currency conversion fee", there is a different interest rate for "foreign" transactions, and a "transaction" fee, along with an impossible to determine "exchange rate" calculation.
All in all, it could "cost" you 5%, or more, total to "pay" for your trip while abroad...if you don't know what you're doing...
Our ATM/debit card with our local/regional bank is also without any currency conversion fee, or any ATM withdrawal fees, because we took advantage of a 1% automobile loan year before last, even though we could have just paid cash. Transactions are also calculated at the "interbank" rate.
For sure, you positively cannot depend on what any representative tells you on the phone. You MUST read those little leaflets that are included with your statement or are mailed separately ("important information regarding your account"
and good luck figuring out what they are trying to tell you!Some credit cards, such as Citibank, not only have the "currency conversion fee", there is a different interest rate for "foreign" transactions, and a "transaction" fee, along with an impossible to determine "exchange rate" calculation.
All in all, it could "cost" you 5%, or more, total to "pay" for your trip while abroad...if you don't know what you're doing...
Mar 11th, 2007, 07:36 AM
#30
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Commerce Bank (on the East Coast, NY/PA/NJ/VA) ATM Card has no transaction fees, no conversion fees, and no fees whatsoever. USAA charges the 1% conversion fee that is passed on by Mastercard/VISA, but it gives me 1 and 1/4% cash back at the end of the year for all my transactions. 
Mar 11th, 2007, 09:51 AM
#31
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I have a Capital One card and have never been charged any fees. And a couple of years ago, it was very easy to book a flight using my miles.
As for ATM cards, I have an account with TD Ameritrade (formerly TD Waterhouse), and they don't charge any fee no matter where you use the card and there is no markup to the exchange rate.
As for ATM cards, I have an account with TD Ameritrade (formerly TD Waterhouse), and they don't charge any fee no matter where you use the card and there is no markup to the exchange rate.
Mar 12th, 2007, 02:16 PM
#32
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Robespierre,
Many thanks for the link for hidden CC charges. For transactions incurred in Feb 2007, I was surprised to find that the lowest to highest fees were as follows:
1) Lowest--Diners Club (less than 1%)
2) American Express
3) Citibank AAdvantage Mastercard
4) Chase ATM (with no ATM fee charged)
Very enlightening! Thanks!
Many thanks for the link for hidden CC charges. For transactions incurred in Feb 2007, I was surprised to find that the lowest to highest fees were as follows:
1) Lowest--Diners Club (less than 1%)
2) American Express
3) Citibank AAdvantage Mastercard
4) Chase ATM (with no ATM fee charged)
Very enlightening! Thanks!
Mar 21st, 2007, 05:42 PM
#34
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I didn't know until I got home from my trip to London and Paris last year just how much in fees and added on percentages Bank America was charging me for using their card at the ATM's in Europe ! Astonishing. I have Cap One but hadn't thought to use them overseas knowing that Bank Amer had sister banks in London and Paris.
The same goes for Chase/USA cards. Dont use them overseas or at home for that matter either.
The same goes for Chase/USA cards. Dont use them overseas or at home for that matter either.
Mar 21st, 2007, 06:07 PM
#35
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mahya, the $5 fee (only if you didn't use Barclay's in UK or BNP in France) plus a 1% fee for using an ATM were "astonishing"?
If you took out $1000 worth in three transactions and didn't bother using partner banks it cost you a total of $25. If you did use partner banks it cost you a total fo $10. Is that what you call "astonishing"?
If you took out $1000 worth in three transactions and didn't bother using partner banks it cost you a total of $25. If you did use partner banks it cost you a total fo $10. Is that what you call "astonishing"?
Mar 22nd, 2007, 12:55 PM
#36
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What's the story on American Express -- what is their conversion fee?? I remember some class action about them charging some fee that had not been previously disclosed to users???
I have a Bank of America card (credit card plus ATM), and can verify that they do charge 3% on the credit cards, and $5 flat fee plus 1% conversion on the ATM.
I have a Bank of America card (credit card plus ATM), and can verify that they do charge 3% on the credit cards, and $5 flat fee plus 1% conversion on the ATM.
Mar 27th, 2007, 11:12 AM
#37
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I use both American Express and Bank of America cards. While Amex does not charge the conversion fee, their currency conversion rates are pretty poor, so in effect you're paying almost the same as if you used Bank of America and got a good rate, but had the extra 3 percent tacked on. And I have used it extensively and they do charge 3%, despite what some other folks have posted, plus $5 to use out of network ATMs.
How about getting money through AAA if you have a AAA card? Maybe that would be fee free.
How about getting money through AAA if you have a AAA card? Maybe that would be fee free.
Mar 27th, 2007, 11:13 AM
#38
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Another post...
Can anyone recommend any mileage or hotel cards that don't have annual fees? I really want to start racking up miles or points, but don't want to pay an annual fee. The US airways card was a huge waste and didn't deliver on what was "promised" - the offer of a cheaper companion ticket whenever you book dried up a couple of months after I got the card. The 25,000 miles that were promised turned into 2,000 - where are the rest? They bragged of no annual fee when I was on the plane trying to get us to sign up, but then they slapped me with a $50 annual fee.
Can anyone recommend any mileage or hotel cards that don't have annual fees? I really want to start racking up miles or points, but don't want to pay an annual fee. The US airways card was a huge waste and didn't deliver on what was "promised" - the offer of a cheaper companion ticket whenever you book dried up a couple of months after I got the card. The 25,000 miles that were promised turned into 2,000 - where are the rest? They bragged of no annual fee when I was on the plane trying to get us to sign up, but then they slapped me with a $50 annual fee.
Mar 27th, 2007, 11:19 AM
#39
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Usually that "no annual fee" will only apply to the first year and after that they'll hit you with one. I used to brag that my Citibank AAdvantage card did NOT have an annual fee. I've had it for 19 years now. I use it a lot and back a number of years ago when they assessed me an annual fee, I called up and complained. They removed it and didn't charge me one for years. But two years ago they started charging me (I think it's $50 a year). I called to complain again, but they wouldn't budge this time. On the other hand, when I screwed up and sent the wrong payment at the wrong time and got a fine and interest of about $75 I called up and because I'm "such a good customer" they removed the whole charge -- so I guess I shouldn't complain about the annual fee, when that other one was even my mistake but they ate it.
Mar 27th, 2007, 11:44 AM
#40
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CAPH52, when was your WAMU account opened? The reason I ask is that when we originally opened our account, the overseas charge was $3.00, as you said. When they began the new "policy" of no fee, 1 percent charge only on overseas ATM withdrawals, I had to go to a bank teller and request that the type of account I had be changed to the new type with the 1 percent conversion fee.
I haven't been able to test this yet, but I am interested in how successful people have been in using WaMu ATM Cards overseas. I understand that in Italy they have been problematic?
I haven't been able to test this yet, but I am interested in how successful people have been in using WaMu ATM Cards overseas. I understand that in Italy they have been problematic?
