Originally Posted by
mikemcft
Hi,
I have a Bank of America ATM card. For many years it served me well during foreign travels. There was only a 1% foreign transaction fee and many times BofA had partner banks in foreign countries that would not charge ATM fees, so I got out with a 1% total hit if I went to the right ATMs. But a year or so back BofA upped the foreign transaction fee to 3%.
Where can I get the lowest foreign transaction fees for my cash withdrawals? I am going to Japan, where cash is used heavily, so I'd like to not waste 3% up front. I'd like a better ATM card, but I'm open if there are different options. I've always thought that changing money at a bank or foreign exchange business is quite expensive, so I've avoided such options.
Thanks,
Mike
As you were told, for ATMs overseas, Schwab can't be beat. But for purchases you would be much better off with a BoA Signature Travel Rewards Visa. Not only is there no forex charge but you get points equal to 1.6% in value on all purchases, both overseas and in the States.