Just returned from Japan.. did some charges on the CitiBank cards.

Exchange rate is about 1% surcharge... there is another column showing the 4% charges making a total cost of 4 % to me.

another interesting things is, some local bank charges 1 % while other charges 2 or 3 % in the exchange rate, in addition to the CitiBank 3 %. The total cost of using your credit card can be as high as 6%.

From the ATM, Citibank ATM is 1.2% and Bank of America ATM is about 1.5% in getting cash.

There is no way out from the greedy banks.

Sure there is, but you have to do a little research. Not sure why you would use Citibank outside the US, since they have always been one of the worst for foreign transactions.

At least some MBNA cards (including my Fidelity MBNA) do not (yet) have any foreign transaction surcharge or fee. USAA MC also has no fee, and the USAA debit card does not charge anything for use anywhere. Further, if you qualify for USAA membership, you can have a cash back MC.

I still have the old Fleet Visa card, it is still 1 % charge. As to my MBNA cards, they are start charging 3% effective end of May.

One more thing, for charges with the same card on the same day shows lots of differences too. the local processing banks (I have this happende to me in China, Japan, Thailand and Hong Kong) can impose another 3 % charges (ip to) on the exchange rate even though I was using the same credit card on the same day. Remember that we cannot choose the local bank. I find out after I return home reviewing the credit card charges.

Dang it, Wahooflyer is right for transactions on/after May 21 . My post above stands true, however, for earlier transactions .

We have had our VISA CC through our credit union for about two years. When issued there was no currency conversion fee. Beginning May 2005 this VISA CC is adding a 1% conversion fee. Seems they all want to get in on this lucrative business. The 1% will increase to ???. Any credit cards out there which really and truly will not charge conversion fees in the future?

Ziobacio - bad news. I recently got the Fidelity MBNA card, but have been informed by customer service that the 3% charge will be applied. I also have a NEA MBNA MasterCharge which DOES still only charge 1%.

I have heard that before, but after repeated attempts here and at Fat Wallet, I've been unable to find anyone with MBNA Fid card who has received written notice of a change in terms. They must change T&C in writing, and give you 30 days notice.

I know that MBNA recently (last month) sent out a bunch of T&C changes. I got mine -- there were 4 pages of changes in APR, late fees, etc, but no mention whatsoever of any change affecting foreign transactions.

I don't particularly trust CSRs, everyone hears something different. Until I receive a written notice, I think the Fidelity MBNA card is OK.

The question still stands: has anyone received WRITTEN change in T&C on Fidelity MBNA card affecting foreign transactions?

We went to Europe last year, and me not knowing, got hammered with all those 3% charges from CitiBank!

A friend of mine told me he jsut got a AAA credit card, because it only had 1%. I called all of my cards and most were 3%. I am going to look into the AAA card and find out for sure, as our summer trip this year will take us into Alberta and British Columbia.

Come to think of it, I didn't check our Bank Card, which can be used as a credt card ...

On a major trip, those charges can really add up!

We are planning a vacation in England and Northern Europe this summer. My research indicated that most of the Visa/MC providers have increased their foriegn exchange fee to 3% across the board. While there may be some stragglers, the trend is to 3%. I've seen posts on other forums/message boards where MBNA card holders have received the 3% notice.

At this point (less than 30 days from departure) the best credit card deal I've got in my pocket is my DL Amex card which charges me 2% for transctions in currencies other than dollars. Be careful on this last point "other than dollars". It is possible to have hotels settle your charges in dollars (rather than the local currancy). It may seem like a deal and that the hotel is doing you a big favor. They most likely are not (see Starwood forum), since they will be using a foreign exchange rate to is much worse that what you would get if you settled in the local currancy and took the 2% Amex fee.

The best ATM card deal I've found is Bank of America using their affiliation with the Global ATM alliance (DeutcheBank, et al) to avoid foreign ATM fees of up to $8-10 per transaction. It is possible to have foreign ATM fees waived in some instances. For example, Wells Fargo has a $5 foreign ATM fee. I went to the local branch and suggested that I would be moving to BofA if the fees were not waived. Wells agreed to waive their $5 fee. I imagine that I'll still be dinged for the $1-2 fee charged by the foreign ATM machine operator.

Also, be wary of using the visa or mastercard debit card function on your ATM card. I've seen some discussion that this will incurr the 3% surcharge by visa/MC and possibly another charge by each bank involved.

MO

The only ATM with a transaction fee I've ever seen outside the USA was in the YUL airport. I've never seen a transaction fee on any ATM in China, Europe, or Israel. And ATMs on the street in YUL didn't have fees, either.

My Umbrellabank.com Visa ATM card charges nothing beyond Visa's 1% fee.

When you use an ATM in Israel these days you are told that your bank may charge you for this service and then you have to push a button agreeing to that.

Right, but the ATM owner doesn't charge a fee. Only your own bank might, and neither of my banks (Commerce Bank of NJ/NY and Umbrellabank.com) charge me anything.

MachOne was referring to the common practice in the USA of the ATM-owner charging an additional transaction fee (typically US$1 to $2.50).

I used Bank of America, Washington Mutual and Citibank ATM overseas. There is no service charge if you use their own (or affiliated bank) ATM. But they all have the 1 % minimum conversation charge. If you use other banks, such as Bank of China, Shanghai Silver Alliance or Japan Post Office, there will be a charge of US$ 5 to 8 per transaction, plus conversion fee. The three banks mentioned above have the worst conversion rate, varies between 2 to 4 % depending on the branch and the location you are at.

Hope this help on you next trip.