which ATM gives the best rates and lowest fees?
May 3rd, 2003, 04:29 AM
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which ATM gives the best rates and lowest fees?
Do you know which financial institution ATM gives the best rates and lowest fees in Paris?
For Visa card-holders, the 3 financial institution ATMs are - Societe Generale, Carte Bleu, Credit Lyonnais
(We shall be staying in the 15th arondissment in Paris)
For Visa card-holders, the 3 financial institution ATMs are - Societe Generale, Carte Bleu, Credit Lyonnais
(We shall be staying in the 15th arondissment in Paris)
May 3rd, 2003, 04:41 AM
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I guess I don't get your question. Are you a US credit card holder from a US institution? If so, then all those French banks will be the same to you --probably. None will charge you a fee and I would assume they all use the same exchange rate (that may be hard to ever confirm). The only charges you will incur for using a French ATM are the charges your own US banking firm will impose on your account. It is possible your bank has a reciprocal agreement with one of those banks and will not charge you any fee at all for using that particular bank's ATM. You'll need to call your own credit card company to find that out. I do know that my cardholder (Citibank) will not charge me anything for using a BNP bank's ATM in France.
May 3rd, 2003, 05:48 AM
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Anil, are you asking about Visa credit-card advances, or debit-card withdrawals (from a checking or savind account)? As Patrick has pointed out, the French banks won't charge for a debit-card withdrawal, you're looking only at your US bank fees (which can vary a lot, apparently from zero to $5) so that's the main thing to check into.
May 3rd, 2003, 09:05 AM
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One other item. If your ATM card is not a Bank Card but you are getting a cash advance from your credit card company, you will pay interest from day 1. This can end up costing more than any bank charges.
May 3rd, 2003, 11:07 AM
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Hi, Anil,
As others have said, check with your own bank. I know, for example, that BankAmerica has agreements with banks in several foreign countries (Canada, France among them) where there are fee-free withdrawals. Again, it is possible that both your bank and the bank that owns the foreign ATM could hit you with charges - so inquire about fees on both sides of the transaction.
John H
As others have said, check with your own bank. I know, for example, that BankAmerica has agreements with banks in several foreign countries (Canada, France among them) where there are fee-free withdrawals. Again, it is possible that both your bank and the bank that owns the foreign ATM could hit you with charges - so inquire about fees on both sides of the transaction.
John H
May 3rd, 2003, 11:20 AM
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Sorry for the vague question.
I have a debit card from a credit union here in the USA. My credit union informed me that they do not charge anything forwithdrawals however they were sure that the banks in Paris would charge for another bank-card using their ATM.
Just as it is here in the US. I just wondered what the charges would be - did not want a shock.
Thanks for the quick replies! I heard that ATMs give the best exchange rates so wondered what the fees would be.
I have a debit card from a credit union here in the USA. My credit union informed me that they do not charge anything forwithdrawals however they were sure that the banks in Paris would charge for another bank-card using their ATM.
Just as it is here in the US. I just wondered what the charges would be - did not want a shock.
Thanks for the quick replies! I heard that ATMs give the best exchange rates so wondered what the fees would be.
May 3rd, 2003, 11:54 AM
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Anil,
Again, since your bank will not charge a fee, there will be no additional charges by foreign banks. It will not matter which bank you use as long as the bank is a member of Stars, Cirrus, or whatever your card says.
Cirious
Again, since your bank will not charge a fee, there will be no additional charges by foreign banks. It will not matter which bank you use as long as the bank is a member of Stars, Cirrus, or whatever your card says.
Cirious
May 5th, 2003, 01:38 AM
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Bank of America is part of the "Global ATM Alliance" with Barclays Bank PLC, Deutsche Bank, and BNP Paribas. Bank of Nova Scotia and Westpac are also members. Under the alliance, the banks offer their customers free use of one another's combined ATMs. This means that they will waive the ATM fee, but they may still impose conversion charges.
May 5th, 2003, 06:57 AM
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I'm a member of a credit union that is part of the PLUS network. I have had no trouble finding a PLUS network machine in Europe. I have been charged 75-cents per transaction in Europe. I don't know if this is the same as an out-of-netork charge in the US (I have only withdrawn money from an ATM of my credit union here).
After my trip to London where I charged something and within an hour withdrew money from an ATM, I compared the costs. If I remember right, the ATM 'price' was $1.57 per Pound and the Visa was $1.58 per Pound. Though both rounded out to 4 decimal points.
After my trip to London where I charged something and within an hour withdrew money from an ATM, I compared the costs. If I remember right, the ATM 'price' was $1.57 per Pound and the Visa was $1.58 per Pound. Though both rounded out to 4 decimal points.
May 5th, 2003, 04:56 PM
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Thanks God I read this thread! I called the various banks I have credit cards with and, boy, the differences I found. Citi Bank charges a 2% conversion rate on top of another 1% by Mastercard. Fleet Bank has no conversion fee, but a 4% transation fee by using it for ATM with a 19% interest rate. My LL Bean VISA card has no conversion rate, no ATM fee, and a promotional 0% interest rate on purchases and cash advances until July. Guess which one I'm using....
May 6th, 2003, 04:22 AM
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Are you saying the LLBean card doesn't even charge you the 1% conversion rate that all Visa cards charge? I find that hard to believe. Do you suspect they pay that for you and don't pass that cost on to you??
The part about interest rates, by the way means nothing if you pay off your purchases by closing date. And no card to my knowledge charges you a "cash advance fee" for withdrawing money from your own checking account by an ATM. Don't confuse that with "borrowing money" from Visa or Mastercard on your credit card -- which would always be one of the dumbest things I can think of to do.
And I'm really confused about that LLBean card used at an ATM. Are you saying it takes money from your checking account?
The part about interest rates, by the way means nothing if you pay off your purchases by closing date. And no card to my knowledge charges you a "cash advance fee" for withdrawing money from your own checking account by an ATM. Don't confuse that with "borrowing money" from Visa or Mastercard on your credit card -- which would always be one of the dumbest things I can think of to do.
And I'm really confused about that LLBean card used at an ATM. Are you saying it takes money from your checking account?
May 15th, 2003, 10:02 PM
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Ceoconn,
Call your credit card LLBEan visa again and ask the same question. As far as I know, Visa, Mastercard, Amex all charge a fee 'separate' from the company that issues the card (in your case LLBean company). This is standard. You just have to figure out which of these giant companies charge the least. I say Mastercard- 1%. If you have an MBNA Mastercard, that's even better cuz it is one of the very few companies in the US that does not charge a fee.I think someone had posted here in the past that Providian does not charge a fee either.
Call your credit card LLBEan visa again and ask the same question. As far as I know, Visa, Mastercard, Amex all charge a fee 'separate' from the company that issues the card (in your case LLBean company). This is standard. You just have to figure out which of these giant companies charge the least. I say Mastercard- 1%. If you have an MBNA Mastercard, that's even better cuz it is one of the very few companies in the US that does not charge a fee.I think someone had posted here in the past that Providian does not charge a fee either.
