[Idyllchat] ATM clarification

[Jay Cloidt]

Every credit card company charges you fees for an ATM withdrawal. One way or
another. Most charge you double the interest rate.

The Capital One card does not charge the currency conversion fees when used
as a credit card. Most do.

You need to use a regular ATM / Debit / Check card in an ATM. Check with
your bank concerning their policy on international transactions. Many banks
do not charge extra for using it overseas. HSBC charges me the same $1.50
for using a European ATM that they would have charged me for going to a
Chase or Citibank ATM. Nothing extra. Some banks do charge extra. You need
to check with yours.

If you have a "check" card, using that as a credit card will incur, at
minimum, the conversion fee charged by Visa or Mastercard.

The big hang up is credit cards not ATM's. Credit card companies have been
going crazy with their fees. When the foreign countries responded with the
ability to charge your card in US dollars, the credit card companies put an
even bigger fee on accepting US $ transactions from foreign countries. It's
like they don't want you to use your card overseas. So now, I don't.

  - Jay

p.s. - My wife never feels comfortable relying on ATM's so she always brings
some cash that she changes in the airport for local currency. I've been
relying on ATM's for 10 years with no major problems.

On Wed, Apr 23, 2008 at 4:41 PM, <DRJSD at aol.com> wrote:

> I know there was a lot of info about ATM cards, fees, best cards to carry
> etc. recently. I thought I read most of it and understood the recommended
> approach was to use a Capital One visa card with a pin number at the ATM
> machine. I understood there were no fees on withdrawals.
>
> I must have misunderstood because when I called Capital One today to
> inquire, I was told there is a withdrawal fee, a cash limit and a fairly
> high APR.
>
> Can someone set me straight?
>
> Janet
>
>
> **************
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