[Idyllchat] Credit Card/Cash Card - No Fees??

[Russ Crum]

Pete,

Yes, I have an ATM card that does not charge any fee for ATM use. It  
is with my credit union (Community Financial) here in Michigan. My  
own credit union never charges me for any ATM uses either here in the  
US or in other countries. Since it is a credit union I do have  
difficulty finding ATM's here in the US that won't charge me for use  
of their own ATM. However, I have never been charged a fee by a local  
bank in Canada or Europe. I have used this card in Europe in The  
Netherlands, Germany, Switzerland, Austria, The Czech Republic, Spain  
and Italy.

The credit union claims that they do not tack on an exchange rate  
fee. It is almost impossible to know for sure because you would have  
to know the interbank currency exchange rate for the exact date of  
the transaction. I have compared the exchange rate on an ATM  
withdrawal with the exchange rate on credit card purchases made the  
same day and the rates are almost identical. However, the credit card  
company (Citibank) always has a separate "international transaction"  
fee tacked on at the end of the statement.

I have never used my credit card for cash advances although I have it  
set up for that in case of an emergency. I know from reading the  
terms and conditions for my credit card that any cash advance is a  
loan and incurs ridiculous interest rates from the date of cash  
withdrawal.

I might add that I have been gratified that I have never encountered  
either my ATM card or credit card being refused when traveling. I  
have always notified both of them before each trip as to the exact  
dates I would be traveling and the countries. I know some people have  
run into problems even though they have notified their banks.

Russ Crum
rrcrum at sbcglobal.net

On Apr 3, 2007, at 19:15, haggart wrote:

> Hi "Chatters"
>
> I know this is an old question, but since banks keep changing the  
> fees they charge, I thought I would ask anew and see what personal  
> experience has taught this group of savvy travelers!
>
> It is a two part question:
>
> 1. Do any of you have a cash card (ATM use) where the issuer does  
> not charge a fee for transactions at foreign ATM machines - OR  
> charges only a nominal transaction fee - AND does not add a fee for  
> conversion of dollars to Euros?
>
> 2. Do any of you have a credit card (regular charge card - not  
> using it for cash advances - but for purchases) that does not  
> charge a transaction fee and/or conversion fee for foreign  
> transactions.
>
> Thanks for your ideas and suggestions in advance.
>
> Euros are already killing us financially in Europe so we want to  
> avoid even more expenses on our Untour this fall!
>
> Pete
> in Moscow
>
> Peter and Margaret Haggart
> haggart at moscow.com
> <faint_grain.jpg>
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