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ATMs and bank accounts

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Boston
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96 posts
9 reviews
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ATMs and bank accounts

I'm thinking about setting up a checking account to use specifically for travel ATM withdrawals and have seen people mention using a bank different from their usual one. If my usual bank does not charge any fees for checking accounts and has good terms for foreign transactions is there any reason I should go to a different bank?

Only Guatemala connection is a trip there this winter but I guess it is a country where prudent ATM use is recommended.

Crowsnest Pass...
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286 posts
8 reviews
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1. Re: ATMs and bank accounts

Just make sure that the account isn't linked to your other accounts - the bank should be able to set it up so that you have a PIN and bank card that are for that account only. It will make it harder for you to put money into that account because you won't be able to go online and press "move funds" but will also make it harder for someone else to take access your money because they won't be able to do that either.

Las Vegas, Nevada
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241 posts
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2. Re: ATMs and bank accounts

Check about fees. There have been some changes in fees that last few months. BofA in particular. I now use my Paypal account as even though it is linked to my bank account, hackers can't get in. I've found it safe even for multi thousand dollar transactions.

The Dalles, Oregon
Destination Expert
for Guatemala, Belize
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11,148 posts
327 reviews
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3. Re: ATMs and bank accounts

Recently I set up a travel account at a different bank from where I normally do my banking; ATM card use is free and I use it while traveling, then change my password and empty it so I don't have worries about subsequent removal of the funds if the ATMs are buggy. I have it set up with daily emailed balance notices so I can keep an eye on my balance without having to use my bank password in questionable wifi environments.

I think using the same bank would be fine as long as it isn't linked to other accounts and the fee structure is what you're looking for. Happy trails!

Missouri
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46 posts
5 reviews
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4. Re: ATMs and bank accounts

I will either set up another bank account or look into a prepaid debit card for my trip next year. Has anyone used one of the prepaid debit cards in Guatemala?

The Dalles, Oregon
Destination Expert
for Guatemala, Belize
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11,148 posts
327 reviews
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5. Re: ATMs and bank accounts

I've wondered if the funds are guaranteed if someone pirates the numbers. If someone does that with my bank card, the bank covers it.

Missouri
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46 posts
5 reviews
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6. Re: ATMs and bank accounts

Good point. That would be something to look into before going that route. I think opening a second bank account will be what I will do. Thanks!

7. Re: ATMs and bank accounts

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