I agree. I use a no-fee Citibank checking account paired with a free e-savings account that currently pays 5% (promo rate for unspecified period). Unlimited free transfers between these accounts can be done instantaneously on the internet (and possibly at Citi ATMs though I haven't tried that yet). :cool:

As detailed in the flyertalk Wiki, Citi offers no-fee ATM withdrawals at Citi ATMs worldwide (subject to 1% forex fee) which now include 5,000 ATMs at 7/11 stores. BankofAmerica's no-fee ATM partners in UK, France and Germany can be used to supplement Citi when needed (assuming you have a BofA account) - better to lose a few days interest than to pay 5% on a $100 ATM withdrawal. :mad:

I had a lot of problems with BOFI and ended up closing my account. Better options for similar accounts (but with better interest) are GMAC Bank, California First National Bank and Nexity Bank.

I have both of these accounts, BOA and Citibank. I guess i'm all set for Paris as far as getting Euros :)

RE:Citibank Foreign Transaction Fee
 

OTP with the CSR from Citi. Asked her about the new 1% Foreign Transaction Fee for Citi and Non-Citi ATMs. She said that they are now "unbundling" the 1% from the exchange rate. What we are seeing is the old 1% foreign currency conversion fee being itemized as "foreign transaction fee". She said it is done like this now because the previous system of bundling the fee was confusing to customers. She didn't seem to sure about this though.

Unfortunately, I don't have my ATM receipts with me at the moment to calculate the exact exchange rates I received, and since the Indonesian Rupiah is so volatile, it would be difficult to compare anyway. Citibank does not keep records of the exchange rates for each transaction either. Has anyone any definitive info on this new 1% foreign fee in our statement?

Doing a Google search for "foreign transaction fee" site:citibank.com turns up ZERO hits. Did anyone get a notice on this new "Foreign Fee"?

I am just a little unbelieving that Citi does not keep track of the exchange rates for each transaction. How would they ever be audited if this were true?

More likely, they do not want to reveal how badly they ripoff their customers on forex.

Last time I checked (which I always do before a rental), MC car rental coverage outside the US was primary, while Visa's was not.

Debit card used at ATM for cash withdraw
 

Last week, I withdrew cash at an ATM in the city of Tours, Loire valley in France. I used a Charles Schwab debit card. At time of transaction, no receipt was given by the machine. After returned home, checked my account and found the exchange rate was USD 1.258 = 1 EURO; and transaction fee was USD 1.00 as advertised. There was no other fees. I was pleasantly surprised of the favorable exchange rate and low fee.
I used CapitalOne cc for most of my purchases while touring France and UK. Have not seen the online statement yet. I expect no currency conversion surcharge, but don't know if exch rate would be good or not.

If your auto insurance is not valid in Europe (mine is not) this point is moot.

citibank seems to bundle up the entire forex fee into one lump sum... at least on my statement

you may well be correct. a few months back i compared taking money from a Citi ATM with purchasing items on my Capital One CC. The Capital One card seemed to consistently give me a better rate...and this was before the new Citi foreign fee.

when asking about the forex rate, the CSR said she didn't have and then checked with somebody in another department. After a couple minutes she came back and said that he said that they didn't keep records of it. she even tole me that having no record of it was odd as customers may want to know. i will probably call again tomorrow and see if another CSR can help.

yolers, look at your May and June statements. on most people's there is a new "Foreign Transaction Fee", which is itemized for every foreign ATM transaction. April's statement does not have it.

To Citibank Atm Users
 

Please see my post #685

Also, Citibank does not rip you off on the exchange rate as it is always a little less than 1% from the real time xe.com quote. This even beats my Everbank ATM card.

The 1% exchange is STILL bundled into the main transaction.

The rip off is the new separate "FOREIGN FEE" which effectively makes the total exchange around 2%.

Fidelity Investments Rewards - I called MBNA today and was told it's 1%. CSR noted in my acct that he advised me of this rate. He said if the rate changes, then I would be notified in writing. Has anyone used their Fidelity card overseas recently?

AAA Visa (through MBNA) - Different CSR told me it's still at 1%.

International Fee
 

I just recently used the USAA Master Card and had a 1% fee charged, I don't usually use it as it does not accrue miles, but needed cash in a hurry (couple grand) and the cash advance charge was 'nil' no noticeable service charge besides the 1% and the interest it accrued!