mish42

Been a few years since I was overseas. Now when I contact Amex about travelers checks they said that instead you get a card that is validated for whatever amount you pay and that you can use it at atm machines as long as the atm has an amex logo. Anyone have experience using these cards? Are there a lot of the atm machines with amex logo or far & few between. We will be in Greece and Switzerland this summer. I will also be taking my atm/debit card along with regular credit cards. When using an atm/debit card what is the usual charge by the bank or owner of the machine where withdrawing from?
Thanks.

BootsN

Put "The best (and worst) cards" in the Search box, and you will get a lot of useful information on this subject.

NeoPatrick

Traveler's checks are archaic and not a good deal. The only thing that's probably worse is the prepaid traveler's card. They charge you to load your money on it. They use your money, and then you pay to get any of it back. Of course, they push them, they are very profitable for AMEX.

There is NO charge at all from any European bank for withdrawing your own funds from your home bank through a European ATM machine. The only fees you will pay will be those imposed by your own bank at home. Ask them.

StCirq

One word - two syllables: RIP - OFF.

mish42

Thanks to the quick replies so far. When I spoke with Amex they said there is no charge for me to get the pre-paid travellers card since I'm an Amex gold card holder. However, I didn't ask about a fee to get any remaining money off of it. However, if there was, I could just withdraw the rest from an atm and not go thru them. As for my debit/atm card from my bank, they told me I'm allowed 4 atm withdrawls at no charge from other bank atms per month. Then they charge a few bucks per withdrawl. So if the other (European) bank doesn't charge me or make a deduction from my withdrawl, then that's not a bad way to go...unless they use a low exchange rate. Before withdrawing from an atm can you find out what exchange rate they're giving you?

NeoPatrick

No, again, it is up to your bank what exhange rate they use -- or rather how much they might add to the current rate. Some banks charge 1% -- a few more than that.

StCirq

No you can't know that. It changes constantly. And European banks don't charge a fee for a withdrawal, so using your ATM card is the best way to go.

Travelnut

Ask Amex and your bank for the fee disclosures related to the specific cards in question. Have it faxed to you if there isn't one available when you ask.