Best card for foreign exchange?
Dec 7, 2008 | 11:50 pm
#1501
Join Date: Oct 2003
Location: SFO
Programs: AA ExPlat, NW Plat, UA 2P
Posts: 566
[QUOTE=jerryjerry;10872667
I always have trouble with the automatic refund of ATM funds in Brasil, as it gets converted with the fee lumped in with the withdrawal amount. When I call Schwab, they then refund the fees. I assume this will be the case with the credit card too.[/QUOTE]
I used a Schwab debit card for the first time a week ago to withdraw funds at ATMs in Brazil. At HSBC (Rio) the fee seems to have been buried in the exchange; at CitiBank, the fee was stated separately. I haven't yet checked to see if the fees were refunded, but I will do so soon. From your post, it seems I will have to call them. Is that correct? (FYI $R8 per transaction at Citi.)
I always have trouble with the automatic refund of ATM funds in Brasil, as it gets converted with the fee lumped in with the withdrawal amount. When I call Schwab, they then refund the fees. I assume this will be the case with the credit card too.[/QUOTE]
I used a Schwab debit card for the first time a week ago to withdraw funds at ATMs in Brazil. At HSBC (Rio) the fee seems to have been buried in the exchange; at CitiBank, the fee was stated separately. I haven't yet checked to see if the fees were refunded, but I will do so soon. From your post, it seems I will have to call them. Is that correct? (FYI $R8 per transaction at Citi.)
Dec 8, 2008 | 6:16 am
#1502
Join Date: Feb 1999
Location: Denver CO
Posts: 3,686
I used a Schwab debit card for the first time a week ago to withdraw funds at ATMs in Brazil. At HSBC (Rio) the fee seems to have been buried in the exchange; at CitiBank, the fee was stated separately. I haven't yet checked to see if the fees were refunded, but I will do so soon. From your post, it seems I will have to call them. Is that correct? (FYI $R8 per transaction at Citi.)
This is still a terrififc, safe way to get cash around the world at a low cost.
Dec 8, 2008 | 5:15 pm
#1503
Join Date: May 2006
Posts: 70
Yes, you'll have to ask for ATM fees!
I used a Schwab debit card for the first time a week ago to withdraw funds at ATMs in Brazil. At HSBC (Rio) the fee seems to have been buried in the exchange; at CitiBank, the fee was stated separately. I haven't yet checked to see if the fees were refunded, but I will do so soon. From your post, it seems I will have to call them. Is that correct? (FYI $R8 per transaction at Citi.)
I use both HSBC and Banco 24, which processes through Citi. In both cases I have to ask to get my ATM fees of $R8 refunded.
I also use an HSBC Online debit card, where I fund it only for my withdrawals in Brasil. No fees. No problems.
I'm normally in Espirito Santo when I do this.
Dec 8, 2008 | 5:17 pm
#1504
Join Date: May 2006
Posts: 70
No problem getting fee refund
It used to be that you had to call Schwab to get a credit for fees incurred overseas, but they did make a credit in cases where there were no separately stated fees. Earlier this year, they changed their policy to only refunding fees that are separately stated.
This is still a terrififc, safe way to get cash around the world at a low cost.
This is still a terrififc, safe way to get cash around the world at a low cost.
Dec 9, 2008 | 12:02 pm
#1505
Join Date: Feb 2007
Location: Michigan
Programs: Delta Silver Medallion
Posts: 105
Prepaid Euro/GBP cards
Has anyone tried the Travelex Cash Passport cards yet? They're finally available for Americans and you can get them in either GBP or Euros. I am considering getting one of these for my UK travels next year...
Dec 9, 2008 | 1:50 pm
#1506
In memoriam
Join Date: Jan 2006
Posts: 4,020
Darned if I can see anyway that the Travelex card is better than my ATM card for forex use.
For one thing, the fees appear rather hefty.
http://www.cashpassport.com/uk/feesandlimits.html
For one thing, the fees appear rather hefty.
http://www.cashpassport.com/uk/feesandlimits.html
Dec 9, 2008 | 9:27 pm
#1507
Original Member
Join Date: May 1998
Posts: 2,513
Conversations with Schwab
I posted my conversations with Schwab today on the Other Credit Cards forum, which seems to be a better place to continue the discussion of this card, as there is a separate thread there dedicated to it.
http://www.flyertalk.com/forum/showt...9#post10884959
http://www.flyertalk.com/forum/showt...9#post10884959
Dec 10, 2008 | 4:08 pm
#1508
Join Date: Jun 1999
Location: Rio de Janeiro, BRAZIL
Programs: AA 4MM EXP; Starwood Lifetime Plt
Posts: 2,498
I stopped using the HSBC debit card because it charges a 3% fee for ATM withdrawal from the HSBC online savings account. The last time I used it was in Chile, about a year ago. The extra fee was not stated as a separate item, but the dollar amount charged to my account was exactly 3% above the day's exchange rate on xe.com. I confirmed the fee by phone with HSBC's customer service.
Jan 20, 2009 | 9:36 am
#1509
Join Date: Jan 2003
Location: NYC
Posts: 8,687
TD Bank (fka Commerce)
Somebody anonymously edited the wiki to make TD Bank NY Yes Checking accounts 3% instead of 0%. Can anyone confirm that this is the case?
I know that newly issued TD Bank credit cards charge 3% (vs. the old Commerce credit card, which was 0% and may or may not be grandfathered at 0%). But this is the first I've heard of TD Bank ATM cards charging 3% for existing accounts. FWIW I have a TD Bank NY Yes Checking account and haven't seen any notice of a change in terms (although I didn't look that closely at my last statement).
I know that newly issued TD Bank credit cards charge 3% (vs. the old Commerce credit card, which was 0% and may or may not be grandfathered at 0%). But this is the first I've heard of TD Bank ATM cards charging 3% for existing accounts. FWIW I have a TD Bank NY Yes Checking account and haven't seen any notice of a change in terms (although I didn't look that closely at my last statement).
Jan 21, 2009 | 10:42 pm
#1510
Join Date: Mar 2007
Programs: Hilton Diamond, AA 1MM
Posts: 245
Somebody anonymously edited the wiki to make TD Bank NY Yes Checking accounts 3% instead of 0%. Can anyone confirm that this is the case?
I know that newly issued TD Bank credit cards charge 3% (vs. the old Commerce credit card, which was 0% and may or may not be grandfathered at 0%). But this is the first I've heard of TD Bank ATM cards charging 3% for existing accounts. FWIW I have a TD Bank NY Yes Checking account and haven't seen any notice of a change in terms (although I didn't look that closely at my last statement).
I know that newly issued TD Bank credit cards charge 3% (vs. the old Commerce credit card, which was 0% and may or may not be grandfathered at 0%). But this is the first I've heard of TD Bank ATM cards charging 3% for existing accounts. FWIW I have a TD Bank NY Yes Checking account and haven't seen any notice of a change in terms (although I didn't look that closely at my last statement).
Jan 30, 2009 | 10:52 am
#1511
FlyerTalk Evangelist
Join Date: Feb 1999
Location: Seat 1A, Juice pretty much everywhere, Mucci des Coins Exotiques
Posts: 34,337
I just edited the Wiki to remove the entry for Wells Fargo Signature card. Those jagmos have taken away the zero conversion fee benefit and this card now charges 3% like all the other Wells Visa cards. Time to shred yet another credit card. 
And they charged me $200 or so in conversion fees WITHOUT NOTICE! Isn't that against some sort of law?
And they charged me $200 or so in conversion fees WITHOUT NOTICE! Isn't that against some sort of law?
Jan 30, 2009 | 11:26 am
#1512
Join Date: Jan 2003
Location: NYC
Posts: 8,687
I just edited the Wiki to remove the entry for Wells Fargo Signature card. Those jagmos have taken away the zero conversion fee benefit and this card now charges 3% like all the other Wells Visa cards. Time to shred yet another credit card.
And they charged me $200 or so in conversion fees WITHOUT NOTICE! Isn't that against some sort of law?
And they charged me $200 or so in conversion fees WITHOUT NOTICE! Isn't that against some sort of law?
Jan 30, 2009 | 1:30 pm
#1513
Join Date: Apr 2006
Posts: 90
right.....Zaia. How do you know? 
BTW I used the Cap1 No Hassle card this time in China and Japan and had no problems. The largest single POS transaction was around $800. Seems to have improved from my past trips when only $10 would trigger a block.
BTW I used the Cap1 No Hassle card this time in China and Japan and had no problems. The largest single POS transaction was around $800. Seems to have improved from my past trips when only $10 would trigger a block.
Last edited by busterbaxter; Jan 30, 2009 at 1:35 pm
Jan 30, 2009 | 11:53 pm
#1514
Join Date: Aug 2003
Location: Seattle, WA
Posts: 94
yikes. that sucks. i'd call and get a credit from them.
I just edited the Wiki to remove the entry for Wells Fargo Signature card. Those jagmos have taken away the zero conversion fee benefit and this card now charges 3% like all the other Wells Visa cards. Time to shred yet another credit card.
And they charged me $200 or so in conversion fees WITHOUT NOTICE! Isn't that against some sort of law?
And they charged me $200 or so in conversion fees WITHOUT NOTICE! Isn't that against some sort of law?
Jan 31, 2009 | 2:48 am
#1515
In memoriam
Join Date: Jan 2006
Posts: 4,020
Call and ask when the notice was given. If you are not satisfied with the response, send a polite letter to Wells Fargo President--see what they say.
If there really was no notice, immediately contact a class action lawyer. You may make money and so may your fellow victims. Unless the banks have to pay when they do bad things, they ain't gonna stop. @:-)