|
Post by 1952aussie on Mar 9, 2007 5:36:57 GMT -5
from aus and have daughter living in london, does anyone think it would be an avantage to get her to open a second bank account and depositing my funds into it .by doing this would it save me anything besides makeing it easier to get access to funds would be travelling scot ,ire ,france & italy. while im here im very confused about rail passes dont know which way to go.(group of 5 with discount or 3 youth passes & 2 adult)
|
|
|
Post by herrbert on Mar 9, 2007 5:56:38 GMT -5
I know that the Americans and Canadians get ripped off everytime they make a withdrawl from am ATM, so it might be worth it. But check the conditions and terms of the bank, where she would be opening this account. (as compared to your own bank)
Also take a look at the discussions about ATM-rates, and other problems.
|
|
|
Post by pointofnoreturn on Mar 9, 2007 18:01:33 GMT -5
I am not familar with rail passes although I think you'll have much better luck getting an answer in the "Transportation" forum.
Regarding bank accounts...
Check to see if your bank has a partner with any of the European banks or international banks for that matter. For example, ScotiaBank (in Canada) has a partnership with Barclay's in the UK and usually fees are waived. Unfortunately, my bank (Royal Bank of Canada) doesn't have a partner as far as I know so I guess I'm stuck with the ATM fees but I should be okay if I make withdrawals once or twice a week....
|
|
|
Post by me on Mar 9, 2007 22:40:00 GMT -5
have banks in Europe started charging big fees like many do in America? that's bad news. my bank will refund fees charged by other banks here, but i doubt it'd work for European banks. in 2004, none of the banks in Europe charged me a fee. [my bank charges no fee] oh, at www.RailSaver.com , one enters each person in one's travel party separately. it gives the lowdown on those group passes, too. - d
|
|
|
Post by herrbert on Mar 10, 2007 12:21:39 GMT -5
have banks in Europe started charging big fees like many do in America? that's bad news. my bank will refund fees charged by other banks here, but i doubt it'd work for European banks. No. well that is to say, I pay about 9 euros, per 3 months, but then I don't get billed for transactions. (not even the ones I make abroad).
|
|
|
Post by me on Mar 10, 2007 13:00:36 GMT -5
the fees i mean are the ATM transaction fees. in America, most banks charge a US$2 - US$3 fee to make a withdrawal, unless the account from which the money comes is at the same bank which owns the ATM. i'm told there are even banks which charge another fee to their own account holder if you take cash from another bank's ATM!
there are many banks out there which don't charge these fees. some even refund the fee charged by other banks to withdraw your money. [this is mostly done by banks with no ATM system, like my web bank.]
|
|
|
Post by pointofnoreturn on Mar 10, 2007 13:06:39 GMT -5
David you are right. There's a big debate going on here in Ontario/Canada in which they're trying to decide if ATM fees should be abolished within Canada because here in Canada (Ontario), you have to pay a fee to use another bank's ATM.
For example, my bank is RBC. If I withdrew money from a ScotiaBank or Bank of Montreal ATM, I'd be charged 1.25 CAD for the transaction.
Even our prime minister complained about this LOL.
|
|
|
Post by me on Mar 10, 2007 14:11:44 GMT -5
the best solution, imo, is for some bank to not charge these fees, and advertise that they don't charge. that way, people who wish to avoid the fees could opt to do their banking there. let the market decide. are there banks in Ontario which don't charge these fees? perhaps you should change banks! <unless there are other advantages to RBC> - d David you are right. There's a big debate going on here in Ontario/Canada in which they're trying to decide if ATM fees should be abolished within Canada because here in Canada (Ontario), you have to pay a fee to use another bank's ATM.
|
|
|
Post by pointofnoreturn on Mar 10, 2007 15:13:32 GMT -5
As far as I know, even if I was a ScotiaBank customer and used a completely different branch's ATM, I'd still be charged.
Hopefully the Canadian or Ontario government will waive these ridiculous fees.
Of course, there's usually RBC ATM available everywhere but in some cases, you're resorted to use another bank's ATM for a quick transaction.
|
|
|
Post by me on Mar 10, 2007 15:55:56 GMT -5
are RBC & ScotiaBank the only options? wow. there are bunches of bank offices near my home. 4 branch offices of various banks, plus another one under construction, within 50 meters, or so. but, the best deal i found about 6 years ago was a web bank. so far none have made offers good enough to make me change. as i don't keep that much in checking, the low yield isn't a big deal.
As far as I know, even if I was a ScotiaBank customer and used a completely different branch's ATM, I'd still be charged. Hopefully the Canadian or Ontario government will waive these ridiculous fees. Of course, there's usually RBC ATM available everywhere but in some cases, you're resorted to use another bank's ATM for a quick transaction.
|
|
|
Post by pointofnoreturn on Mar 10, 2007 16:20:06 GMT -5
are RBC & ScotiaBank the only options? wow. there are bunches of bank offices near my home. 4 branch offices of various banks, plus another one under construction, within 50 meters, or so. but, the best deal i found about 6 years ago was a web bank. so far none have made offers good enough to make me change. as i don't keep that much in checking, the low yield isn't a big deal. [i could get a higher yield at my bank. but, i'm also getting some frequent flyer miles based on my balance. i've got enough ADDVANTAGE miles (American Airlines frequent flyer miles) for an off season trip. just a matter of planning one when a sibling can watch after Mom - she doesn't care to be alone. It really depends where you live. There's TD (Toronto Dominion), Caisse Populaire (geared towards Quebec residents and those who live close to Ottawa-Hull border between Ont. and Que). Also a number of other smaller banks but in all, there's really about 4-5 major banks and a bunch of smaller ones. Turns out that nearly every credit card associated with a Canadian bank has a 2.5% conversion fee. Nothing like 1% or not. So Canadians are kinda getting the shaft when it comes to fees and whatnot. I would change a bank but like you said, none of them appeal to me and it seems pointless to change a bank unless one of them suddenly offered a better rate. I've got a Bank of Montreal Mastercard that has Air Miles on it and and Visa card with RBC Rewards. The only other frequent flyer cards I have that aren't associated with a bank is Aeroplan (only have about 3000 miles so far) and United (about 2000 miles). Looks like it'll be a few years before I redeem points!
|
|
|
Post by herrbert on Mar 11, 2007 18:15:58 GMT -5
the fees i mean are the ATM transaction fees. At least in the Netherlands, banks stopped asking money for fees for ATM withdrawls, at other banks ages ago. I can withdrawl from ATM, at any bank I want without a fee, as long as it accepts my pass. (maestro/mastercard) If one bank (X) is asking the another bank (Y) a fee, for every customer that makes a withdrawl at an ATM, if should more or less equalize the fee from the customer of the other bank (Y), making a withdrawl at a ATM from bank X. Plus you need software to keep track of all these withdrawls, costing extra money.
|
|