Originally Posted by
mattp1987
USAA does not charge a foreign transaction fee on ATMs. I just used my USAA debit card at ATMs in Istanbul and Amsterdam. There were no issues getting cash and the amounts debited from my checking account matched the receipts.
Unfortunately this is not correct. USAA charges a 1% transaction fee. The fee doesn't show up on the ATM receipt, but is baked in to the exchange rate. Nevertheless, you still get a competitive exchange rate and your USAA ATM card will work without any problem all over the world. It's the only thing I've used for years. The 1% fee was imposed beginning about 2 years ago. The following is directly from USAA's Depository Agreement and Disclosures, on the 3rd page under "USAA ATM/Debit Card Fees and Agreements."
ALL ATM & DEBIT CARD
Foreign Transaction Fee .................................................. .................................................. ... 1% Of Transaction Amount
Applies to debit card or ATM transactions with a merchant or ATM in a foreign country, whether the transaction is originally made in US dollars or converted from foreign currency.