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Up-to-date ATM (vs. debit) card info, please

Up-to-date ATM (vs. debit) card info, please

Old May 16th, 2010, 12:44 AM
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I use a B of A debit card. It is possible that B of A in different states can have different terms, but the B of A in my state adds 3% plus $5 for ATM withdrawals not done with partner banks. I know this for fact: a withdrawal done at an ING ATM in Amsterdam gets hit with these fees.

In France, BNP is a partner bank, and I have used http://www.xe.com/ccc/ to verify that the difference between the official exchange rate and what I got have been less than 1% which was within the current fluctuation tolerance. Same sub 1% differences for withdrawals done at a Deutsche Bank ATM in Germany, another partner bank. So my experience has been that B of A ATM withdrawal done at partner banks are done at the official exchange rate.
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Old May 16th, 2010, 03:19 AM
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citibank...another near criminal bank, abuit 2 years ago introduced the 3% foreign transaction charge for ATM withdrawals......
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Old May 16th, 2010, 08:16 AM
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I don't know why it would be hard to believe B of A charges 3 pct foreign transaction fee. A lot of banks do that never used to. My bank does and it's a smaller regional bank that never had such a charge until a couple years ago. I'm actually very surprised if they don't on cash withdrawals given they are bloodsucking vampires.

If anyone does have a problem when abroad, they can always call their bank (or CC company) if they truly believe its due to a foreign transaction. I don't see any reason to notify my bank when I never have in my life and they have never stopped any transaction abroad on my ATM card. If I did have some problem, I could call them. I think there's a greater risk that if I call them when they aren't used to such a transaction, they'll mess something up. Well, people have experiences with their own bank.

I'll admit I find it hard to believe that anyone can get euros in the US for no fee. I think a lot of people who say that just don't understand what the fee is and don't understand foreign exchange rates. AAA, for example, consistely charges about 7 pct markup on any currency they get you, they don't do it for free. They don't own a bank, I don't think there is any way they can get it for you at interbank rates. In any case, I know they charge 7 pct markup where I live and several other offices where I've inquired in other places than my own city.
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Old May 16th, 2010, 11:26 AM
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greg, I also considered the possibility the terms vary from one place to another. However when I called I told them it was a general question so I did not give my acct info and they did not ask what state my account was in.

Just now I looked at BOA's web site and here it is, straight from the horses mouth. As you will see in bold print, the ATM fee is only 1%.

Withdrawals, deposits, transfers, payments and balance inquiries made at ATMs in foreign countries outside of the ATM Global Alliance will be charged a $5.00 fee.
In addition, an International Transaction Fee will be charged for ATM Card and Check Card transactions made for foreign purchases or ATM cash withdrawals in currency other than U.S. Dollars, regardless of whether or not the transaction occurred at an ATM in a country covered in the ATM Global Alliance. The International Transaction Fee will be 3% of the U.S. Dollar amount for each converted purchase or 1% of the U.S. Dollar amount for each converted ATM cash withdrawal. This International Transaction Fee will appear as a separate item on your banking statement for each international transaction.

Here's the link if anyone would care to check it out.

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Old May 16th, 2010, 12:57 PM
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Seems pretty clear - 3% on purchases, 1% on ATM withdrawals
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Old May 21st, 2010, 05:38 AM
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Roughly (on average) how much cash can you withdraw from Italian ATMs during a single transaction? 200 euro? 500? 1000?
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Old May 21st, 2010, 06:13 AM
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The typical per-transaction limit on an Italian ATM is 250 or 300 euros. Some may give larger amounts; most will let you make multiple withdrawals until your bank cuts you off for having reached your account's daily limit.
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Old May 21st, 2010, 06:32 AM
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I've been using a credit union ATM (not debit) card with Cirrus access for years with no problem. It is tied to my checking account. It's easy enough to transfer money from savings to checking before the trip. I'm a bit wary of trying to draw from the savings account and I don't trust what bank employees say, I've gotten wrong information a few times.

It's worked in France, Greece, Italy, Spain, Prague, Switzerland, Morocco, Egypt and Turkey. And other places I've probably forgotten.

The credit union charges $1.25 per withdrawal.

Give your bank or credit union the dates that you'll be away.
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