finding a good bank for travel

[megamay]

Can anyone recommend a good bank as far as ATM fees go for travel to Europe? I am trying to find a bank with the lowest fees for ATM withdraws and short of calling every single bank, I dont know where to begin. I would greatly appreciate some recommendations of where to start my search.

Also, I recently heard that on top of exchange rates, some credit cards charge fees for using your card in other countries. Does anyone have a recommendation of the best credit card for travel?

thanks!

[Michelle]

Do you live in the US or Canada? I think it would help us to offer advice regarding banks if we know where it is that you live!

Yes, credit cards charge a small percentage on top of your purchases. Usually about 1 or 2 percent... But I'm not sure if that applies to ALL credit cards, but it applies to both my Visa and my Mastercard.

[megamay]

Right now I live in Arizona, but I will be moving to Pennsylvania/Maryland region before my trip.

Yes I have heard that every Visa and Mastercard charges 1%, but some bank issuers add 1 or 2% on top of that and others dont.

We have Bank of America right now and I have heard that they are affiliated with several other banks in Europe so that would be the way to go in those countries, but we will be in practically every country in Western Europe and several in Central Europe. And Bank of America has hefty fees for out of network ATMs.

Also, I am certain our credit card is not the way to go becuase it is a frequent flyer mile card.

Thanks so much!

[me]

i have an account at Bank Direct. they have never charged me an ATM fee - they even refund fees charged by ATM owners. Also, i get some AAdvantage (American Airlines frequent flier program) miles for having my accout there.

it's online banking, so that might be an added plus, or an added minus, for you.

czech out www.BankDirect.com

- d

[LHR02]

My bank here in Florida likewise does not charge ATM fees and will pay me back for any fees other machines charge me. Have used this bank during the last three trips overseas and have never been charged anything by them to use overseas ATM's. Check around...like David's online bank or mine here, there are banks that will give you great service while overseas. Ask specific questions about that when you are ready to look for a new bank. It's becoming such a competitive market these days it's not hard to find one that will supply your needs.

btw.....no need to call them all...let your fingers do the surfing! Darn near every bank has a web site and you can get most of them weeded out there leaving just a handful to call with additional questions! ;D

[me]

also, you can find info about banks, and the charges, at www.BankRate.com

- d

[ErikaerikaERIKA]

You will be charged about $3 (can) for every ATM or any bank machine transaction

[LHR02]

YIKES!
If you are paying $3 you definately need to find a new bank!
That's outrageous!

[Kim]

Unfortunately it's not outrageous in Canada, it's more the norm.

A tip for all Canadians - I was talking to my friend yesterday who has a Presidents Choice bank account at Superstore and apparently she didn't have any fees while travelling. Something to look into, don't know if that info is accurate but it might be worth giving them a call.

Kim

[Tracie]

I have a bank account with President's Choice. I called them before leaving the country and they stated that they wouldn't guarantee that their card would work in ATMs outside of Canada...but I have a friend who used hers in Australia and it worked fine.

[me]

oh, i almost forgot: i did have trouble getting cash on my BankDirect atm cards for part of my trip. don't know if it was a bank problem, or what. i got some cash advances on my credit card, and my sister used her electronic deposit to wire money to Citibank. (so the intrest didn't eat me alive!)

this was about two weeks, always in italy.

ALWAYS have a back-up! even if the back-up is traveller's checks.

- d