joshwex90

While Schwabb and State Farm don't charge fees to take out of another ATM nor do they charge forex fees, and they refund ATM fees, it's very possible, depending on your bank that you have this benefit. This is something that's slowly being taken away from low level accounts but added to higher level accounts. If you don't have it, just go with State Farm as they don't do the hard pull

Leopold

No $5 fee for using BofA at Barclays ATMs in Tanzania.

Boraxo

It is highly unlikely that you have a ATM fee waiver unless you are a high net worth individual or keep a very large balance with the bank (or perhaps large mortgage). Pretty much all of the "standard" checking accounts at major banks charge $2-5 for using non-affiliated ATMs outside the US and most tack on a 3% forex conversion fee as well. The exceptions are CitiGold, JPM Chase Private Bank, and Wells PMA - check the requirements and you'll see what I mean about high balances.

That is why there are several running threads on this topic - so that frequent international travelers know what the options are for avoiding these heinous fees. Most have been identified above, with Schwab, Fidelty, and CapOne being the major players but also State Farm. BofA used to be on the list but has dropped after they imposed a 3% forex fee on ALL international ATM transactions, even within their "Global Alliance".

joshwex90

I guess we disagree on what constitutes "high net worth" or "very large balance."

TD Bank's Premier checking doesn't charge a fee to use a non-TD Bank ATM, regardless of whether the withdrawal is domestic or international. And if you maintain a minimum $2,500 daily balance, the monthly fee for the account is waived AND TD reimburses non-TD ATM fees. To me, that sounds like it's not a very large balance. And it's open to anyone, not just high net worth people.

Capital One is a player when it comes to credit cards, but not checking. Their accounts (excluding their interest accounts and 360 accounts) impose a $2 fee at non-CapOne ATMs throughout the USA as well as internationally and also impose 3% internationally. Only their interest account doesn't incur a fee or forex fee, but requires $500 to open and $5,000 minimum daily balance. (Point being here than unlike in the credit card market, Capital One is not an across the board player in the ATM market.)

As for others, I simply pointed out that OP may have that already. People have ingrained that it's not offered at all. All I said was that the benefit was taken away from many lower level accounts but retained or added to higher level accounts. So not quite inaccurate. And even so, recommended State Farm who I've loved so far as they've been quite easy to deal with.

I also love TD and for anyone able to maintain a minimum $2500 daily balance, Premier checking is a great idea.

duranza

thank you

joshwex90

Also. TD has branches in Canada for people traveling to Canada. Regardless of account, they don't charge for ATM usage in USA or Canada

duranza

So is this site not updated? states that ATM fees do not apply in Mexico

https://customerservice.santanderban...-debit-card%3F

https://www.santanderbank.com/us/pag...atm-fee-waiver

Dovster

That is interesting because TDAmeritrade gives both checking and a Visa debit card for free without any minimum balance. Both are issued through TD Bank.

On the other hand, the TDAmeritrade debit card, while not charging any forex, does not reimburse for international ATM withdrawals.

Boraxo

I think the disagreement is over "major bank" not "large balance". There is no question that TD, Schwab and other smaller or regional banks offer better checking products than BofA, Wells, Citi and Chase. But many more people have their primary bank accounts with the big banks.

One of the benefits of this thread is to alert people about products that are out there but might not otherwise be well known because they aren't sitting on every corner. How well these work for day-to-day banking I don't know - that depends on e-banking interface (ie bill pay) and whether you need branches. But they are certainly a good option for avoiding forex fees

As for CapOne I don't know what accounts you reviewed but my inlaws use CapOne account exclusively for international ATM use and they don't pay fees. They don't keep a significant balance there, particularly when they aren't traveling.

I can't speak to Santander's own banking products, my comments were addressed to use of Santander ATMs in Mexico by BofA customers. Prior to Nov 2013, BofA customers could take cash from Santander ATMs with no forex or other fees. Now BofA customers are assessed 3% forex on all international ATM withdrawals. And Santander also assesses an ATM fee on non-Santander customers (except BofA). Sorry for any confusion.

joshwex90

My only point was for OP to check. The reason I was clear about other options as well. Not trying to get attacked for every post I make - just trying to be helpful by giving all relevant information, even if not *likely* the case.

Agreed, although as it turns out, some can be nice compliments, or in the case of TD, a great primary bank.

I opened CapOne initially for international ATMs. At the time, it was $2 for international withdrawals but no forex fee. So I didn't use them. Just checked their website now and that's where I based the info on. But I've spoken to CapOne a bunch of times and every time, it's always been at least $2 for international withdrawal. You're more than welcome to peruse the website.

Perhaps your in-laws have a special account, were grandfathered in, or maybe don't realize they're being charged the money??

jamar

CapOne has free foreign withdrawals on their "360" online-only checking account. That may be where the confusion is coming from. Also, for a lot of people even $2500 may be a toughie so I'd still recommend Schwab or Fidelity. Or in Nashville, Avenue Bank (reimburses foreign ATM fees a lot quicker than Schwab, that's for sure). That and some people have other reasons to not park so much at TD. (It'd be one thing if they could issue you a Chip+PIN debit or credit card from up north, that would be a clear reason to pick them over others, but they only seem to let Canadians get US-issued debit/credit cards from them, not the other way around).

joshwex90

Right - that's why I said excluding their 360 account. If the $2500 is a toughie, I personally recommend State Farm over Schwabb and Fidelity, having experience with Schwabb and second-hand experience with Fidelity. All good, but some have been charged (most haven't) 1% with Fidelity.
And Schwabb can be a hassle to open and deposit initially, as well as the hard pull.

Boraxo

It isn't that people can't keep $2500 in the account but more that they don't want to keep a minimum balance of any amount at 0%. Mine fluctuates dramatically between paychecks and occasionally I even screw up and end up paying transfer fees for overdraft protection when I forget about a major payment (i.e. autodeduction of annual premiums).

Not to mention many of us don't want to use our primary accounts overseas due to risk of theft/robbery. So we set up secondary accounts where losses are limited to the account balance - and fund as needed for occasional trips. Yes, they all have fraud protection, but better to fight with the bank over $2k rather than $20k. '

Not attacking anyone personally just suggesting you not assume (or suggest) that most people can get fee waivers - because they can't. And that's why those accounts are asterisked on the spreadsheets that compile this info.

joshwex90

Again, please point to where I said "most" people.

ziqch

Just talked to Fidelity Rep, they are charging 1% foreign transaction fees of all their debit/credit cards now.