Are you sure Wamu doesn't charge for overseas ATM use? That's not what the wiki says.

Many banks say they have no fees for ATM use, but are actually only talking about domestic ATM use.

One has to be careful:
A "foreign" ATM is not the same thing, in the bank world, as international or foreign currency.
"Foreign" in the bank industry means any ATM that doesn't belong to the bank--and usually they just mean domesticaly.

my son is heading out for a year and i would just rather not give him a wad of cash to take over. it would probably be better to give him a debit card as safety net and a way to perhaps budget himself. i just wasnt sure which would offer the most expansive coverage and lowest fees. by fees i mean atm and forex. unless i am missing something else. as a backup i will give a credit card but state its only for extreme emergency.

Sending someone with cash is a bad idea (risk of loss and lousy exchange rates upon conversion), so I agree with you.

For withdrawing cash at ATMs:
An ATM card from a bank or credit union that does not charge high fees for usage abroad
Almost all US banks and credit unions issue cards that will be pretty much accepted worldwide on the big ATM networks.

For making purchases in stores that accept credit cards:
A Mastercard or Visa issued by a bank or credit union with fees 1% or less
Using most credit cards at ATMs to withdraw cash is a bad idea--in general, extra fees are charged for cash advances and interest starts accruing at the cash advance rate immediately upon withdrawal (no grace period).

The advice I give many family members and friends who will be traveling overseas is to take at least two credit cards and at least two ATM cards AND a small wad of cash.

One credit card should have no forex fee (like CapOne) and should be used for everyday purchases. The other should have good international customer service (like Citi or Amex) and should be used only for emergencies. If you truly don't trust your teenager with a credit card, then don't bother with the low-fee one--just give him the backup one, since the customer service will matter more than the fees if he's only using it for emergencies.

One ATM card should have 0-1% forex fees and preferably rebate ATM-owner fees (like many credit unions and online banks) and should be the primary way to get cash. The other should use a different network (i.e., if the main one is Visa/Plus, get a second ATM card on the MC/Cirrus network) and doesn't need to be no-fee since you'll mainly use it for backup in case the primary one doesn't work.

Still bring enough cash that you can buy food and pay for lodging for a week if the various cards don't work for some reason.

For advice on the fees of various credit/debit cards, see our wiki:

http://flyerguide.com/wiki/index.php...reign_Exchange

Believe me, you don't always get it back. At least not without a lawsuit. Voluntary Zero Liability from M/C and Visa are pretty much worthless, since it depends on their deciding your complaint is somehow "valid". The sad truth is that using an ATM or debit card is very dangerous, due to a defective set of legal protections.

I'm in same position (Citigold acct.) - last April (2006) Citibank charged me ($1.50?) on one withdrawal, not on other withdrawal from Citi ATMs in Japan - go figure - I thought they may have changed their policy.

The policy officially changed in December 2006 so you're no longer supposed to be charged for using Citi ATMs, but they have not implemented it very well and people I know (even Citigold and Citi Private Banking customers) continue to be charged fees even for using Citi-owned ATMs overseas. Citi is a gigantic network of fiefdoms that don't work particularly well together. Use their ATMs (and their ATM cards) at your own risk.

Go to www.commerceonline.com and apply for the visa credit card. Pre-pay it before you go overseas and you can make free cash advances since there are NO transaction fees. Also, since you prepaid the card, there is no interest either. They charge a 0% forex fee! This is better than a debit card if you have good credit.

They refund all bank ATM fees and nice to see $6.00 charges reversed.

A slight twist on this issue. HSBC Premier offers no charges for using other banks' ATM machines. But they do not refund other banks' fees. Since HSBC doesn't have a very well developed network internally in many parts of the U.S., which banks in the US don't charge a fee when other banks' customers user their machine to withdraw cash?

Thanks!

You might find the rare credit union ATM that doesn't charge an ATM-owner fee. But these days almost all US banks charge at least $1.50. If you don't want to pay a fee, many grocery and drugstores will let you buy something with a debit card and withdraw cash in the same transaction without a fee.

Or you could just open a small account at a bank that rebates all ATM fees.

See the wiki for some suggestions.

Thank you for the supermarket suggestion. I always forget about that trick. I think Schwab is also a good option to keep in the pocket for random town ATM withdrawals.

Cheers!

From the BofA website - best deal around if you live / travel to any of the below countries with reciprocity on their fee waiver.

Bank of America - Travelling Internationally?
Use your ATM card or Check Card within our Global ATM Alliance in the countries shown with no fees.

Barclays (United Kingdom)
BNP Paribas (France)
China Construction Bank (China)
Deutsche Bank (Germany)
Satander Serfin (Mexico)
Scotiabank (Canada)
Westpac (Australia and New Zealand)

Why do these threads even stay open?

If you want the rundown on this stuff, consult the Wiki. It is all there.

Maybe we need to add a sticky that cross-references the Wiki.