chrissy2370

Hi, has anyone out there heard of this? I am traveling thru Spain in September and am trying to avoid fees on my credit card. Ideally, i would like to deposit cash into an account and have a debit card to use during my travels. I bank with Chase Manhattan, so I don't think they can help me. Any info would be greatly appreciate.

suze

Why can't Chase Manhattan help you? Wouldn't a normal debit card to use at ATM machines work?

chrissy2370

I guess I am assuming that they can't help me because they are not a worldwide bank. I know I paid fees when I used my Chase credit cards in both Costa Rica and the Dominican Republic...

mindyhanzik

Capital One Visa is the only credit card I know of that has zero fees or mark-ups for foreign transactions. It's the cheapest way to travel -- your transactions will be converted to dollars at the exact exchange rate at the time the transactions are posted (see XE.com for exchange rates).

You will need some cash and your ATM card is the cheapest way to get it. Check your card -- it will probably have a Visa or Pulse or other logo on it regardless of the bank you use. Just find an ATM in Spain that displays the same logo. You'll be charged a transaction fee (probably 2 Euros) and possibly a fee by Chase (if they charge when you use another bank's ATM) But these fees will be much cheaper than exchanging cash or travelers checks at an inflated exchange rate plus fees. Also, ATM's are available 24/7. Have fun.

suze

Using a credit card for purchases & taking cash out of an ATM machine are two entirely different things!

I'm not saying Chase can help because I have no idea.

But my Bank of America debit card attached to my checking account works world-wide at ATM's. If I can find a BoA affiliated there is no fee and a good exchange rate. But regardless I can use it at any bank and simply pay a flat rate for non-affiliated international transaction to BoA.

The type of "loaded" card you are talking about normally has quite a bit of fees. Fees to get it started, fees to add more money to the account, fees to close it, etc. So read the fine print if you choose to go this route.

directions

WaMu charges 1% on all transactions from both their debit/credit cards unless they have an affiliate in the country you are going to in which case there is no fee.

Also not every country has affiliates in them so it's best to check with the banks foreign currency center before you go to find out if there is any and in what cities.

mindyhanzik

AAA has a "travel money card" that sounds like what your looking for but it is not a great deal. It is a prepaid Visa debit card. You pay 4.95 for the card plus at least a $10 fee each time you load it and are charged a 3% foreign conversion fee each time you use it in Spain.

ira

Hi C,

> am trying to avoid fees on my credit card.

Get a CapitalOne card and charge everything you can.

Why use a debit card, that takes cash out of your account, when you can use a credit card and get the 30 day float?

Use ATMs for cash as needed.

Enjoy your visit.