After receiving my last statement, I am pleased to confirm that Capital One VISA (and MC) cards do not even charge the 1% markup. In fact, in some cases the Euro exchange rate used by CapOne was slightly better than interbank rate listed at oanda.com. ^ ^ ^
As for ATM withdrawals, the Citibank markup for foreign currency conversion varied between .7% and 1.7% (not including Citi fees for using non-Citi ATMs, which are quoted separately).
One thing that I found puzzling was that both Citi and CapOne used different exchange rates for multiple transactions that occurred on the same day.
Does the conversion rate used by Visa float throughout the day (in sync with the markets)?
Originally Posted by Happy
Does it make a difference between the ATM card or a debit card with the logo ? * * *
Can I go to a BoA branch to ask for switching the "Check Card" back to a regular ATM card ? Do they charge a fee nowadays to issue a card ? I know some banks actually charge a fee now if you need a replacement card. * * *
BTW, I have a secured e-mail confirmation from BoA regarding the holder's liability on the debit card - essentially it is 0, if you report the fraud within 60 days, Visa also has a 0 liability policy for point of sale transaction that requires a PIN. (or something to that effect)
(1) You will get the same exchange rate at the ATM whether you use a debit or or non-debit ATM card.
(2) I don't know if BofA charges fees to re-issue ATM cards. Check with your branch.
(3) Yes, you have $0 liability for fraudulent debit and credit card transactions. However, if the money disappear from your bank account due to debit card fraud, it may take days or even weeks before the bank completes its investigation and returns the money to you. In the meantime, your balance stays at zero
You don't have this problem with fraudulent credit card charges as you can simply dispute them. That is why I don't use debit cards.
