I think what happens is VISA ups the rate by 1% before sending it onto the different banks, now if it does it by the foreign currency involved or the US$ that i dont know.

So if I was buying something for 100 AUD and the rate was say 1 to 1 so either Cap1 gets an invoice for 101 US$ or 101 AUD and then puts it on my acct.

i dont believe in my ex that Visa will bill Cap1 for 101 AUD but only charge me 100 AUD since they dont charge any Forex fees. they dont charge any but I do Believe they pass on Visas fees but dont tack on anything besides that

I've never seen a retail cash exchange place that gave better rates than an ATM or credit card. They might come close if you're using a card with a 3% or greater fee, but most cash exchange places charge something like 3-5%.

Every analysis we've run using actual forex market data from Bloomberg and transactions on a variety of cards indicate that the cards we say are 0% on the wiki are truly 0%. Sometimes the rates vary a bit, but they are not consistently 1% more than the market interbank rates (they're as likely to come in at 1% below the market rate as they are to come in at 1% above the market rate).

Whether the bank is getting billed 101% by Visa/MC and only passing 100% to the customer, or if they just have an arrangement with Visa/MC to not tack on the 1% in the first place, from personal experience there does not appear to be 1% added to CapOne or Schwab credit card transactions, or to Citigold, Schwab or TD Bank ATM transactions overseas.

Has anyone with a PayPal debit card either:

a) Used their Visa or Mastercard as their primary PayPal funding source when they've needed cash from an ATM?

or

b) Had their Visa or Mastercard as a back-up funding source when you've needed to tap an ATM for more than you knew was in your PayPal account and bank account primary funding source?

If so, did the amount that went on your credit card show up as a cash advance or a purchase?

Trying to find out if I can scam awards miles, still take advantage of my 25 day grace period, and get the 1% conversion fee over the credit card issuers 3% fee, by bouncing overseas PayPal ATM withdrawals onto my credit card. They would have to show up as purchases and not cash advances.

I have a question for whoever posted this to the wiki:

Where is this $10 handling fee coming from? Do you have a link to the T&C that mention this fee?

I am using my State Farm ATM card to withdraw cash 2-4 times a month in Europe and have never seen any $10 handling fee. I also thought that my daily withdrawal limit is only $500. Is there one limit for all cardholders or can vary from person to person?

No, but...

(1) paypal recently updated its fee schedule. there is now an ATM withdrawal charge (I think still 1%) plus a substantial forex fee. So paypal card is now much worse than many other options.

(2) i don't think you can withdraw amounts beyond what you have in your paypal account. otherwise paypal would lose lots of money if you withdrew $500 and they pay visa 2% to debit your other visa card. but who knows, if there is a mileage deal i'm sure an FTer will confirm it.

Are you sure about the substantial forex fee? The 2.5% mentioned on their fee schedule I think is for receiving money in foreign currencies, not for spending it, although it's not clear.

From policy update effective June 3, 2009 (maybe that's why it isn't shown in the fee schedule you linked, though they do appear inconsistent):

PayPal Debit Card Fees
U.S. ATM Withdrawal $1.00 USD (plus any amounts charged by the ATM owner)
Signature Withdrawal $3.00 USD if a signature is required.
Non-U.S. ATM Withdrawal (using an ATM machine that is not in the U.S.)

1%
This fee will apply even if the transaction does not require a currency conversion.
Non-U.S. Debit Card Usage (making a purchase from a seller who is not in the U.S.)

1%
This fee will apply even if the transaction does not require a currency conversion.

Currency Conversion Fee 2.5% added to the exchange rate

According to the Cust. Rep. this credit card has a total foreign transaction fee of 1% and not 3% as the (great) table associated with this forum states. B of A does not add its own fee to the 1% AmEx charges, according to the Rep. Can someone confirm this and then if appropriate change the table?

Today I applied for the Schwab Invest 1st Visa Card and they agreed to courier it to me overnight so I would have it in time for a trip to Israel next week. Impressive.

I intend to use that card wherever possible, however, I am not clear on what I should do for cash needs, i.e ATM withdrawals. Could someone please help me out here? I don't have any other Schwab accounts. Thanks.

in times when other banks are cutting services, it's nice to see one still offering 0% forex, 2% rebates on all charges and exceptional customer service. i have nothing but positive things to say about this card, and i use it a lot.

in answer to your question in addition to your visa account, you should open a schwab one account to deposit the 2% rebate into each month (you may have already done so as part of the application process when you applied for the visa card) and also a schwab checking account (call them back and they'll help you do this). after opening the checking account you'll be sent an atm card that rebates atm surcharges and has 0% forex for all foreign cash withdrawls.

one observation--when i first received the visa card, i started using it overseas immediately. while they never declined any of my charges, they did call my home number at least 4 times during the first two months to make certain that it was me using the card (so check your home messages if you are overseas and using the card). each time i called them they apologised and told me that the fraud system would eventually learn that i used the card overseas. after the first two months the calls stopped (as they said they would) and now i use it all over the world without any hassles (which is impressive since i do not tell them where i am going).

I've also had nothing but good experiences with the Schwab credit card. The website isn't the best organized of the credit card websites I've used, but the card itself works great.

Schwab's High Yield Investor Checking account is also excellent for overseas ATM use. If you don't have time to get one before your trip, however, see the list of accounts on the wiki/FAQ for this thread to see which of your existing accounts has the best terms for overseas ATM withdrawals.

When I went abroad, I used a schwab ATM card. It only takes a few moments to open one up and you can dump cash into the account to use while travelling. I'd perhaps see if this can be done.

Not to worry there are tons of "Change Stores" in the major cities , especially in teh downtown areas.

But even if they say No Commission , its built in, so dont exchange small amounts as its usually a per transaction charge. I get to Israel 3-5 times a yr and its been over 30 yrs since I last changed $$ in a Bank or withdrew via an ATM

Has anyone had recent experiece with Schwab ATM card withdrawals in Thailand?

I understand the Thai banks are charging a 150 Baht (around $4) ATM surcharge starting in the recent past.

Are Schwab card users charged this fee? Is it rebated?

I am thinking about dumping my Citi Gold ATM for Schwab. @:-)