What Credit/Debit cards to use abroad?

[Dashaansafin]

So Im currently abroad in Asia and will be for the next 6 months or so. I have a student BOA account with debit and credit. To my memory last time I was here I used my debit to withdraw money and credit for other purchases and was not charged a fee like everyone says. However my father informed me that I will be, but I didnt see it last time posted on my account.


Can anyone comment? Thanks!

 

[DBowers]

Open a WOW checking account with TD Bank, then use your ATM card overseas.

Maintain a $2500 minimum balance and they won't charge you any fee for ATM/Credit transactions. Their exchange rate is OK.

If the foreign bank ever charges you ATM fees, TD bank will reimburse you.

 

[Xericx]

http://flyerguide.com/wiki/index.php...reign_Exchange

This explains it all.

 

[DBowers]

Originally Posted by Xericx

http://flyerguide.com/wiki/index.php...reign_Exchange

This explains it all.

Great link - that's how I found out about TD Bank. So it seems they now charge 3% for credit transactions.

 

[MrG]

If you are now or ever have been in the military, or if you are the dependent of a current member, you could join USAA. Their checking accounts are great; there are no fees, they pay me interest, and all of my ATM fees are reimbursed. The fee reimbursement also applies to overseas withdrawals. My wife used the card while traveling in England a few years back, and all of the fees charged on her withdrawals were reimbursed.

 

[Svenn]

Originally Posted by Dashaansafin

So Im currently abroad in Asia and will be for the next 6 months or so. I have a student BOA account with debit and credit. To my memory last time I was here I used my debit to withdraw money and credit for other purchases and was not charged a fee like everyone says. However my father informed me that I will be, but I didnt see it last time posted on my account.


Can anyone comment? Thanks!

My student BOA debit account charged me 5 frickn' dollars for every ATM withdrawal IN ADDITION to a 5% deduction of whatever amount I withdrew!!! ... if you're there for 6 months I highly recommend you find another way to get money. BOA is notorious for being unhelpful overseas.

 

[MetroStyles]

Easy - I used the Charles Schwab debit card. Zero ATM fees (reimbursed) and zero FX fees.

 

[Threak]

Originally Posted by Svenn

BOA is notorious for being unhelpful overseas.

Not true. They have a network of international banking partners on their website, and as long as you use one of those banks' ATM's there are no transaction fees. They don't seem to have many partners in Asia though.

 

[Svenn]

Originally Posted by Threak

Not true. They have a network of international banking partners on their website, and as long as you use one of those banks' ATM's there are no transaction fees. They don't seem to have many partners in Asia though.
Which is why they're unhelpful. I've been to almost every country in East and Southeast Asia and never came upon one of their 'partner' banks. Also, you can't make any wire transfers out of your account while you're overseas, since BOA doesn't have any offices over there... even in Japan!! Their customer service number is only available for half the day (which of course is the middle of the night in Asia), and you always have to wait at least 15 minutes to talk to anyone. As said before, their fees are horrendous and seemingly arbitrary. All the expats I know in Asia have long since left BOA and chosen European or International banks like HSBC, who understand the needs of customers who actually travel.

 

[Trompe le Monde]

typically you'll see a flat fee from the withdrawing bank and from your home bank. and/or there could be percentages tacked onto the forex rate.

for personal travel i use capital one card that has 0 forex fees. also carry an MC and AMEX for backup.

for work i use my AMEX because i expense all charges (+fees). however i always carry the 3 brands with me for maximal acceptance

always have ~200USD equivalent in local currency with me, withdrawn at any atm. since i try to always use card, i dont need to withdraw often, but in some countries cash is much easier.

between 2 banks (cirrus and some other network) dont have difficult access to money... except brazil was a little pickier