MarkMColo

If you're talking about the credit card, you would be hit with a cash advance fee, either $10 or 5% of the amount of each transaction, whichever is greater.

patrick.barnes

I recommend SF Fire CU (http://www.sffirecu.org) to anyone who qualifies.

Not only does debit have no FTF, but they refund 12 ATM surcharges world wide per month. Plus they're pretty much the best bank in the US. No EMV yet, but I emailed the CEO (yes, direct email to him!) and they're looking into C+P!

FlyingDoctorwu

so I've always been a BofA member. I get my ATM fees waved domestically apparently. moving forward though, I don't think that theory are the best option internationally. I used to use them with their global alliance. so is Charles Schwab the best option? what are the requirements to maintain a platinum account.. fees? state farm semms to want direct deposit to maintain atm fee waiving.

fdw

levander

There's also Fidelity. Schwab makes more claims marketing their product, e.g. they say no fees overseas and no forex. Fidelity says no fees overseas when using a MoneyPass (and two other logos) ATM's.

But then I got my Schwab card and read the terms booklet. In their, it also says no fees overseas, as long as it's a MoneyPass (or the same two other logos). And that Schwab doesn't charge a forex fee, but that Visa might. That Visa forex fee is the same that Fidelity is talking about when they say a 1% forex fee. In practise Visa does usually charge less than 1%, like 0.2% or even 0% is what I've read around the boards.

I wish I'd gone with Fidelity simply because I hate Schwab's marketing (Talk to Chuck!). And have to be reminded of that marketing every time I log into their web site.

Plus, the Bill Pay software on Fidelity's web site, I've seen many people around the web say that that's better than the Schwab bill pay software on their web site.

supergrandslam

Any forex fee for Citi ATM card(for Citi gold)?

I withdrew cash with my Citi ATM card many times when I travel outside US.
I didn't care much about the fee so far but now I want to know about it.
I think there is no fee for Citi Gold members for withdrawing cash outside US?

levander

I have a Citigold account and my understanding is that Citi charges neither a forex fee nor a ATM usage fee. But, the ATM machine you use, it's owner might charge a fee. Fidelity and Schwab reimburse you for this fee, Citigold does not.

I wouldn't ask a basic question like this on a message board though because it's not an authoritative answer. I'd check the bank's web site itself.

Dieuwer

Looks like the PayPal debit card is also a reasonably good way to withdraw cash from foreign ATMs.

biggestbopper

Citi has engaged in a lot of flim flam marketing over the years about this.

As a Citigold account holder, years ago there was no fee if you used a Citi ATM overseas--lots of promotion of this benefit. Then that was very quietly dropped. Now, as I understand it, everyone gets hit with a 3% fee for overseas use of a Citi ATM, Citigold or not.

You my be able to get the fee credited back if you call Citi. but that's a hassle and I just use my Schwab card.

I do note that in Thailand I used a Citi ATM last week and did not get charged the 150 baht fee the Thai bank monopoly instituted recently. Apparently most non-Thai banks are not charging the fee.

In any event, Schwab reimburses for all such fees and has no forex surcharge. A much better deal.

FlyingDoctorwu

Does Schwab or Fidelty require that I be a brokerage customer to also bank? Any requirements for accounts (minimum, direct deposit etc). I don't travel internationally but 2x per year and am thinking it might be fine just to either eat the BofA fees or change money....

FDW

joshwex90

Schwab does make you open a brokerage account, but it's free to open and you don't need to do anything with.
No account requirements

Same goes for State Farm about no account requirements, but they don't make you open a brokerage account. They do require you to link it with an existing brick-and-mortar account.

No clue about Fidelity

rtwvagabond

Fidelity's cash management account is a hybrid brokerage/checking account, so you're not really opening up two separate accounts.

Boraxo

Kudos for the spreadsheet - I have added my comments for some of the major US banks.

I would also recommend that we create an additional spreadsheet (or add a section to the Wiki) that warns of country-specific ATM fees that apply to almost all transactions except for the few banks that reimburse these fees. That way people will have a good idea as to the total fees and can plan accordingly (i.e. cash forex on arrival v. ATM). Those that come to mind include:

Thailand (180 baht fee = USD $6)
Mexico (20-60 pesos fee = USD $1.5-$5)

dogbyte

On the website for the Cash Management Account with Fidelity, it specifically states that they will reimburse all ATM fees: Use your free FidelityŽ VisaŽ Gold Check Card anywhere in the world and we will automatically reimburse all ATM fees.

What is the $1 dollar fee that is being charged? And is there a 1% foreign transaction fee? Some people have posted that it is not charged.

kebosabi

The spreadsheet should also mention that BofA does waive international ATM fees (but not the FTF fee) when using global ATM alliance members' ATMs.

This would be helpful if those who currently are BofA customers end up travelling to Canada for example, can be pointed to look for Scotiabank ATMs, UK travelers to look for Barclays, travelers to Germany can look for DeutscheBank ATMs, etc.

Boraxo

My mistake, I will fix. Good points.

For me the 3% forex on all transactions is a non-starter, but I agree this is worth noting for those who don't have better options.