tmiw

I did a bit more research and if the comments on http://thepointsguy.com/2014/02/the-...eign-atm-fees/ are accurate, Capital One 360 actually has a 1% FTF as of four months ago. Meaning that even with the supposed favorable exchange rate MasterCard gives compared to Visa, it ends up being no better than Schwab and may in fact be worse due to the former not reimbursing ATM fees. I really wish they just said that in the FAQ instead of using the weasel language that they used. Google Doc updated.

(If they were more forthcoming I may have gotten one anyway. An online PIN preferring debit card would have been nice to use to occasionally test EMV deployments in the US with. It may have also been a good backup in the event I ever run into an ATM abroad that doesn't support Visa so I don't end up paying cash advance fees/interest.)

TravelinSperry

Thanks for the update re Capital One 360 (formerly ING Direct). I was about to open a checking account with them to get access to their debit card but if they are charging 1% ftf then they are out. Their FAQs aren't very clear on the ftf fee http://helpcenter.capitalone360.com/...ory=C3BNKEOBAS
"Foreign Transaction. When using your Card(s) for transactions made in foreign currency or for what MasterCard® classifies as a cross-border transaction, a charge may be applied by MasterCard® (if it’s in a foreign currency, this will be based on the amount after it’s converted to U.S. Dollars by MasterCard®). Please remember to notify us if you are travelling overseas."

Does anyone have any experience with the Capital One 360 debit card overseas in the past few months? Is a 1% fee charged?

tmiw

Yesterday I used my Schwab card at a credit union ATM and noticed that there was a Deposit option in the main menu. I was going to try it and see if it worked but the ATM wanted to charge me $2.50 to do so (free to withdraw though!) My questions are:

1. Would it have worked at all? I thought I saw something a while back that said it wouldn't have so I'm not sure.
2. If it worked, would Schwab reimburse that charge or do they only do that of withdrawal fees?

If Yes for both it would be a good alternative to depositing in my main bank's ATM first and then doing an electronic transfer. ^

DavidDTW

I called Capital One today to inquire about the FTF, and was told that only the MC charge and any bank fee (by another bank) would be charged. Also that you will not be charged a bank fee for using any Allpoint ATM, including those not in the US.

I have two trips to Europe planned over the next 6 months, and after ridiculous BOA fees in Canada last month, am willing to give Cap1 a try.

TravelinSperry

I believe the Mastercard charge they are referring to is the 1% charge although not 100% sure.

joshwex90

I know Capital One charges $2 for using non-Capital One ATMs. Does Capital One 360 have that charge when using ATMs? What about internationally?

czech99

Sorry I cant find a dedicated Debit card forum, so I'm posting here.

I'm leaving in a month to Europe for a few weeks and while I have a few credit cards that don't have foreign transactions fees, I would like to have some cash on hand, especially when paying for cheaper things and having a coffee or drink at a cafe. No need to use a credit card for 3 euros

I'm looking for a bank/branch that doesn't charge any fees when withdrawing money internationally. I currently have Chase. I dont want to open any money market like the Charles Swab, etc. Is there another bank or credit union I that doesn't have any fee's?

I've done some searching a lot of articles are now a few years old with mixed information. I know bofa now charges when before they didnt, etc.
Thanks

styxl

Get a Fidelity Cash Mangement account, no Fees.

https://www.fidelity.com/cash-manage...count/overview

czech99

Found this in their terms

Please note, there is a foreign transaction fee of one percent that is not waived, which will be included in the amount charged to your account.

Seems capital one 360 and fidelity both charge 1% ftf

tmiw

I already had a Schwab brokerage account when I opened my Schwab checking account, so now I have two. The second one has nothing in it though. In short, you don't actually have to use it, but it's nice to have the option of using it in the future.

Boraxo

You wanted a quick cheap solution, you got a pretty good one. Yes, it will cost you 1%, that's a whole $1 when you withdraw $100. An ultra low fee compared with what the big banks charge.

See the google doc summary/wiki if you want a 0% solution, but may take you more than 1 month to set up. Even Fidelity takes some time to ship the debit card.

FYI I have used my Fidelity card all over the world without any security issues. That's another factor to consider.

TravelinSperry

I don't understand. Charles Schwab doesn't have any fees (either to open their acct or to use their card Internationally). But you don't want to open one. Yet you say you do want to open an account with another bank or credit union that doesn't have these fees. What is the difference? If you're going to open an account - why not open an account that meets your needs?

czech99

Because from what I thought I read the Charles swab isn't a plain checking account.

Edit so it seems I misread. Did some further reading and turns out you don't need to use the brokerage account.

Opened the Charles swab account. Thanks guys

tmiw

City National Bank's Platinum checking account reimburses ATM fees like Schwab does: https://www.cnb.com/sitepages/accoun...code=010&st=ca. I hesitated posting it in this thread though due to the 3% FTF but it might be an option for primarily domestic travelers who call California or one of the few other states with CNB branches home.

anime333

Anyone have experience with Capital one 360 in India/South Asia?

From what I recall, the 1% Mastercard fee for foreign withdrawals is covered by Capital One