ATM cards - Netbank ATM Gone - Fees HSBC/Citibank

[Oliver]

FYI - In case any Netbank/ING customers missed it. I understand that the ING card has a 3% foreign currency transaction charge. I am a little doubtful that I will ever have the opportunity to be charged 3% as the ATM card is not a member of either international network.

Oliver

PS I opened an account at Bank of Internet (bofi.com) and may open an additional account at another bank.

PPS I also posted the info at another board.

Quote:

Effective 11/23/2007 ("Effective Date") we will no longer process ATM transfers (including withdrawals) and point of sale transactions (including online and cash-back transactions) that you initiate using an ATM or debit card that accesses a NetBank Money Market, Net Value Interest Checking, or Super Value Interest Checking Account that was acquired by ING DIRECT on September 28, 2007. This means that on or after the Effective Date your NetBank ATM and/or NetBank VISA� Check card(s) won't work.

Some misc pieces of information.

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Citibank - Effective January 26th, 2008 we will impose a fee equal to 2% of the transaction amount (including credits or reversals) on all ATM and/or POS Debit Card transactions (U.S. or foreign currency) that you conduct outside the 50 United States or Puerto Rico. This fee will apply to transactions made at Citibank and Non-Citibank ATMs.

Quote:

HSBC - Fees rising to 3% from Nov 5, 07 for "all qualifying debit and ATM transactions." Some fees waived for Premier accounts

[In-control]

I use Bank of Internet as well and am very satisfied. It is very simple and gets a fair rate based on your age. I like the free checks and the customer service has been fine.

[ziggy29]

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Originally Posted by In-control I use Bank of Internet as well and am very satisfied. It is very simple and gets a fair rate based on your age.

I'm confused. What should your age have to do with the rate you get?

[REWahoo]

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Originally Posted by ziggy29 I'm confused. What should your age have to do with the rate you get?

What, you never heard of a "senior discount"?

[Texas Proud]

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Originally Posted by ziggy29 I'm confused. What should your age have to do with the rate you get?

Check it out... they got 'old folk', baby boomers and the rest of the crowd..

And most banks give seniors a break on fees and such giving them access to a 'higher' account level which gives them higher rates... not unusual

[ziggy29]

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Originally Posted by Texas Proud Check it out... they got 'old folk', baby boomers and the rest of the crowd.. And most banks give seniors a break on fees and such giving them access to a 'higher' account level which gives them higher rates... not unusual

Sure. And I can see a day where these businesses decide they can't afford to give these discounts any more.

I was born in 1965, which means I'll only get whatever crumbs are left at the "senior buffet" table after the boomers are done picking through them and grabbing their share of "all you can eat" of senior discounts and the like. I'm not holding my breath. I suspect that by the time it becomes my turn, they will have discontinued it.

[Oliver]

Quote:

Originally Posted by In-control I use Bank of Internet as well and am very satisfied. It is very simple and gets a fair rate based on your age. I like the free checks and the customer service has been fine.

Glad to hear that Bank of Internet is working for you!

Oliver

[lhamo]

On the ING ATM fee issue, the policy stated on the website is that they "may" assess a 2% fee in addition to any assessed by Mastercharge, but my experience so far in China (as well as recent experience from someone I know of who was travelling around Europe) is that they are not assessing these fees at the moment. The 1%
mastercharge fee may be wrapped into the exchange rate.

I used my ING card several times in August/September at different banks in mainland China and HK. Generally the only times I had trouble with withdrawals were when the machines were physically out of cash (and then my local Chinese bank card would not work either). Any machine with a Mastercard logo should allow you to withdraw from your ING account.

lhamo

[Lancelot]

Quote:

Originally Posted by lhamo On the ING ATM fee issue, the policy stated on the website is that they "may" assess a 2% fee in addition to any assessed by Mastercharge, but my experience so far in China (as well as recent experience from someone I know of who was travelling around Europe) is that they are not assessing these fees at the moment. The 1% mastercharge fee may be wrapped into the exchange rate. I used my ING card several times in August/September at different banks in mainland China and HK. Generally the only times I had trouble with withdrawals were when the machines were physically out of cash (and then my local Chinese bank card would not work either). Any machine with a Mastercard logo should allow you to withdraw from your ING account. lhamo

Good info since I just opened an ING account. NetBank always gave a very good foreign currency rate and usually beat the cash rate (Thai baht) by 20 to 25 basis points