Originally Posted by
Ragnarok
MasterCard is the network for your debit card's POS transcations.
That's the logo in the front.
Your debit card is may be using use a different network for ATM transactions.
The ATM / PIN Debit network logo is usually on the back of your card.
e.g. If it say Plus on the back of your card, it is Visa's exchange rate.
My debit card doesn't have a debit logo on the back. I'm assuming it's Maestro/Cirrus, since it's a MasterCard. Both cards are Capital One, by the way.
Originally Posted by
travelinfoo
Read the ATM card's description carefully. There is a difference between no foreign ATM fees and no foreign exchange fees. No foreign ATM fees means that they won't charge you for the use of an out-of-network ATM. It does NOT mean no network fee. Your debit card may be passing on the VISA/MC 1% forex fee. Is the difference between the 2 rates (ATM vs CC) about 1%?
It's not that big. About 0.4%.
The ATM card said no fees for using non-Capital One ATMs, including foreign ATMs. If they are passing on a MasterCard fee, shouldn't they say that? Credit cards that say no foreign transaction fee mean no foreign transaction fee. If they are not absorbing the network fee, the foreign transaction fee would be 1%.
But thanks for all the replies, everyone. I'll try this again in a different country when I get a chance.