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3% fee - is it better to still use ATM

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Santa Monica...
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3% fee - is it better to still use ATM

Hi. I just notified my bank that I will be using my credit & debit card in germany.

They charge a 3% exchange fee and depending on the ATM I may also get hit with an ATM fee.

Is it still worth it use the ATM for $?

Also do you know what the maximum amount you can take out of an ATM per day? Thank you

Mannheim, Germany
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for Zurich, Mannheim
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1. Re: 3% fee - is it better to still use ATM

>Hi. I just notified my bank that I will be using my credit & debit card in germany.

They charge a 3% exchange fee and depending on the ATM I may also get hit with an ATM fee.

The only "ATM fees" come from your bank.

>Is it still worth it use the ATM for $?

Well, it is not going to be cheaper if you exchange cash. Rather more expensive.

>Also do you know what the maximum amount you can take out of an ATM per day? Thank you

Per day limit is set by your bank. Per transaction limit differs (usually around 500 €) but you can do as many transactions as you want until your daily limit runs out.

Gambrills, MD
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for Fussen
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2. Re: 3% fee - is it better to still use ATM

Be sure to take your bank's 24-hour fraud hotline number with you. That way if they block your account, even though you have notified them you will be using it in Germany, you will have a way to contact them.

U.K.
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for Belgrade
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3. Re: 3% fee - is it better to still use ATM

The charges and limits are all down to your bank. Unless drawing huge amount of cash, it's still likely that ATM is the best option.

However, I'm not up on USA cards but in U.K. you can get banks that don't charge for money withdrawals, if you travel a lot it makes sense to have a dedicated travel card that applies the best exchange rates without transaction fees.

Stoofer

Boston...
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4. Re: 3% fee - is it better to still use ATM

It will depend on your bank. I have Bank of America and this is their fees:

-ATM withdrawal: $5 plus 1% of ATM withdrawal (The fee is waived for BofA customers withdrawing money from global ATM alliance members.) Deutsche Bank is part of BoA alliance member so no charge.

-Credit card purchase: 3% of point of sale charge

-Debit card purchase: 3% of point of sale charge

-Credit card cash advance: Their regular cash advance fee applies; no additional charges.

-Fees charged even if transaction is in U.S. dollars?: Yes

Long Beach...
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5. Re: 3% fee - is it better to still use ATM

You want to get a Capital One credit card--no exchange fees--then charge as much as you can and limit how much cash you withdraw.

AND if your bank has been taken over by another--don't rely on the number on the back of the card to call--I am a WAMU (now Chase customer) and last year after calling WAMU about trip to France and having ATM card rejected and then trying the call collect #--it was disconnected! At least my husband was able to straighten it out in the US for me.

If you are traveling with a spouse, you might want to get a Capital one account in your name and another account (not just card) in your husband.

If one of you lose your card (through theft or carelessness), then you have the other one to use.

6. Re: 3% fee - is it better to still use ATM

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