Candian Banks

[JoJo19]

Hey guys!
I hope I'm posting this in the right forum....I'm new!

So I'm heading off to Europe at the end of May & I plan on using my debit card at ATM's. I just found out the my bank (royal bank) will charge be $5 every time I use it. So I was wondering if any other Candian banks have a cheaper charge for using my debut card internationaly?

Thanks for nay info anyone might have

[Kim]

Hi there,

It's really a matter of calling around and asking how much each bank charges for international withdrawls.

I think CIBC charged us about $3 each time but that was a few years back so I don't know. Try credit unions as well - they are often more customer oriented than big banks.

When you are travelling, you have to find an amount to take out where you are comfortable carrying that amount of cash but don't have to keep going back. Some people would rather pay the extra couple of bucks each time rather than have a huge wad of cash stolen. It all depends on what works for you.

Welcome to the boards, by the way! And you picked the exact right section for your question - good job!

Kim

[WillTravel]

Toronto Dominion is $3/transaction. I think there is one option that allows "free" foreign withdrawals, but it had so many other drawbacks I preferred sticking with what we had. I think it's quite reasonable that you might have say a four-week trip and withdraw money 8 times. If so, that's $24 total and you will get the best possible exchange rate. And, obviously, $24 is a very small portion of the cost of your trip. I would advise more frequent withdrawals so you don't risk losing a lot of money. Think of it as insurance.

[JoJo19]

thanx guys
i e-mailed CIBC & I'm going to try to find out more....hopefully I'll find something or someone has more info

thanx again

[jennifer]

Hi!
It depends on where you are from in Canada!
In Quebec, there are the Caisses Populaires Desjardins which charge the daily rate of exchange and only 2,50 for each transaction!
Its pretty much the cheapest in Quebec anyways!
xoxo
Jen

[JoJo19]

I'm actually over in BC
& I still haven't heard back from any of the banks I e-mailed......although I guess there isn't a big rusg since I don't leave for 5 months

[Michelle]

Hey JoJo.. If you ever end up hearing from any banks you should post the names of them and what they charge per transaction.. I'm in BC too and I'm curious what the banks charge these days...
Thanks

[Jordan]

I haven't heard back from any banks......grrrr! lol
I guess I might just have to go in & ask them since my e-mails haven't been responded too.
But I'll let everyone know!