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ATM Charge Travel Tip
Old 08-10-2011, 03:31 PM   #1
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ATM Charge Travel Tip

A tip for anyone traveling abroad who plans to use ATMs for cash withdrawals. Banks can charge up to a whopping 3% for withdrawals, plus a foreign cash conversion charge. If your bank charges similar fees, check out your local credit union. I found out that a credit union I already belong to (for my mortgage) has no charge whatsoever for ATM withdrawals abroad as well as no daily limit to how much cash you can take out.
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Old 08-10-2011, 04:51 PM   #2
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Better yet, leave Cash in the bank and use a CapitalOne credit card, which charges no fees whatsoever, pays 1% on purchases and calculates fx transactions at good exchange rates.
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Old 08-11-2011, 02:25 AM   #3
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I haven't used my Schwab ATM or Visa out of country for a couple of years, but I believe neither charge a foreign cash conversion charge.
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Old 08-11-2011, 07:43 AM   #4
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I have a Capitol One card and am bringing it on my forthcoming trip for credit card purchases. The trouble is that a significant number of places still require cash. For example, the pensions I'm staying in in Vienna, Salzburg, and places in Italy all require cash. This is probably limited to low budget travel (me) but a ready cash source is also needed besides a credit card.
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Old 08-11-2011, 11:15 AM   #5
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I use my local credit union's ATM card for getting cash abroad. The CU doesn't charge me a fee (domestically or overseas), but the ATM I withdraw from typically has a fee (usually a couple bucks).
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Old 08-11-2011, 12:14 PM   #6
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Schwab still offers that service for travelers, Clif. It is a good one.
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