ATM card

I have a Capitol One ATM card that is just tied to a account where you preload funds. I just used it in Italy several times in the past four weeks. There was just one ATM in Stresa where it didn’t work; otherwise, it was fine.

I have a Capital One bank account that I use exclusively for travel. It has an ATM card and, at least in Italy, no fees are charged on either end. I've been using this account for at least 10 years and have always been happy with the euro/dollar exchange rate.

We have a Capital One 360 account that we use only for travel. I transfer money into the account a few weeks before we leave and we use the card as a debit card and ATM card. Exchange rates are very good and Cap One does not charge any foreign transaction fees. With the increasing prevalence of tap to pay you may have little need for an ATM to actually withdraw cash unless you want to.

Charles Schwab. No ATM fees, no foreign transaction fees.

I use a Charles Schwab account also.

My Capital One 360 checking acct sent me a debit card. I called Capital One twice today to ask about the ATM fee. I was told, to avoid the ATM fee, I must use Capital One ATM machines, not just the ATM machines with Mastercard logo or in the Allpoint network. And the Capital One ATMs can be found using the "Branch / ATM Finder" on Capital One home page (on the computer). Both reps could not find any Capital One ATMs within 50 miles from Venice or Rome. I tried the 'Finder' myself and had the same result.

Both the reps told me that Capital One charges $2 for using non-CapitalOne ATMs. And the ATM operator has its own fee. In a blog I read the at VCE, Banca de Roma ATM charges 5 euros.

The following info is from Capital One website:
Some checking accounts may charge a fee when you use your debit card at ATMs abroad. And some banks might also charge a foreign transaction fee. Capital One doesn’t charge any "additional international ATM withdrawal fees" when you use 360 Checking and MONEY Teen Checking products abroad. But you could be charged a fee by the ATM operator.

Notice that the above verbatim says Capital One doesn't charge "any additional international ATM withdrawal fees", rather than "any international ATM fees".

I am very confused. Could someone clarify this issue for me? Thanks very much.

After more research, I found the following in the Capital One 360 Checking Document: Explanation of Various Key
Services and Charges:
https://ecm.capitalone.com/WCM/bank/pdfs/360-checking-pew.pdf
ATM Charges:
Capital One-Branded ATMs: free
Allpoint ATMs: free
Other Bank ATMs: free: However, you may be subject to other fees from the ATM owner.

This seems to clarify the issue. Now my questions is, at Marco Polo Airport in Venice, how much does Banca de Roma charge for using their ATM. There are other ATMs at the terminal, but, their exchange rate is far inferior to the bank's rate. And the only bank at VCE is Banca de Roma.

I do have a debit card from Charles Schwab, which will reimburse me the ATM fee charged by the machine owner. So Capital One debit card will be my back-up.

I don’t use debit cards.

That old AAA card was a debit card.

There are dozens of excellent travel-specific cards on the market. Some are credit cards, others are debits. Some have mileage perks and lounge access. Some are quite expensive with upfront fees to join their clubs. ATM access is just one of many interesting and sometimes exotic features.

Just google "travel credit cards" and you will find a few hours of fascinating reading. Deciding on which product is right for you is confusing at first but it's easy to whittle the list down based on your budget and perceived travel needs.

Another thing to consider: Europe -- and rest of the world -- has moved quickly to touchless or tap-to-pay transactions, reducing your need to carry any cash. Free ATM access may no longer be a feature you need in a travel card.

Recently used my Capital One debit card (06-17-22) in Coimbra Portugal at a Multibanco ATM. Got 100E for exactly that day’s exchange rate $105.12. No fees added. For peace of mind I use my Capital One app to relock the card after the transaction. I also take my locked Chase debit card as a back up although I’ve never used it. I do not carry/use debit cards in the US. We had dinner in Lisbon in the Bairro Alto neighborhood. The restaurant did not accept credit. We did not ask if our debit card would be accepted. Warned before being seated. Glad we had Euros. Fantastic cuisine, service and ambiance, both indoor and outside. Also good to have Euros for little purchases like postcards and tips.

...American bank employees who know nothing about travel.

We've found that more and more employess of large entities give conflicting information. We refer to it as the "left hand right hand syndrome" as it's obvious neithter knows what the other is doing or saying. For that reason we sometimes check two or three times to see which reply is given the most. Oh, the joys of dealing with companies who only care about going through the motions instead of actually providing good, accurate customer service.

While it can be frustrating, it’s also easy to understand that a lot of the customer service people don’t have a lot of international travel experience, maybe they go to Cancun or they bummed around Europe as a teen in the 1990s.

And, of course, Covid really did change everything. I’ve pointed out on here that there are businesses who will refuse your cash which is almost unthinkable in the USA although it’s becoming more common.

I have done just what you asked about, set up a checking account specifically for travel and it works great for me. I have Charles Schwab Investor checking which has no foreign transaction fees and it reimburses you if another bank ever charges you an ATM fee. A secondary advantage is that I put a designated amount of money in that account each month and I always know how much I have available for future trips.

An important piece of information is that you must also open a brokerage account at Charles Schwab for this account, but you do not need to fund the brokerage account. It can sit there with a balance of zero with no problems.

My card got “skimmed” in Victoria BC several years ago. Schwab quickly identified fraud was occurring, notified me, and my money was replaced within 24 hours.

Another vote for Charles Schwab. I have used them for a few years now. It is an account that I use only for travel and have had zero issues with it. Only ever had one ATM fee charged while using this card, and it was refunded very fast. Never any fees in Europe, and good exchange rate as well.

I like the thought that when I use this account there is no exposure to any of my regular bank accounts.

Why don't you use debt cards?

Like some of you responders, I have a Charles Schwab checking account. I have taken money out of my account from automatic teller machines in Europe using the debt card I got from Charles Schwab. I set up an automatic transfer of a certain amount into this account per month. But I also have an investment account with Charles Schwab that I added a thousand dollars to just after I opened it and I bought stocks and funds... and I fund a Roth individual retirement account too, held by Charles Schwab too. I probably would feel stupid about opening an investment account with Charles Schwab just to be allowed to open a checking account with them if I was going to keep the investment account empty.

Thanks everyone for the discussion.

So I am clear on the the fees not charged by Capital One 360 debit card. I wanted to point out one thing, however, Although the card has Mastercard logo, it uses AllPoint network, rather than Cirrus or Maestro network. Since the only European country with AllPoint is UK, other European countries are outside the network. So you can be charged by the ATM owner. I am surprised to hear all the no-fee postings. Some people say in EU bank ATMs do not charge fees. Is it true?

How to determine if an ATM is owned by a bank? Euronet is a notorious non-bank machine. Some people say those machines that only say ATM or 'CACH MACHINE' are non-bank machines too. Are all machines that say 'Bancomat' bank machines?

Is 'Postama' a bank machine? Is it owned by Poste Italiane? If yes, it should be a bank ATM, according to https://community.ricksteves.com/travel-forum/italy/capital-one-360-atm-card-and-allpoint-atm-s#reply_976928. But Poste Italiane's website says they charge non-customer users ATM fee. So I am a bit confused.

Thanks.

@eandreas12

I dont think you can generalize, but on our 2019 trip to Sicily, our group (four of us) used bancomats several times, all bank owned and a few different banks. Every transaction included a 5€ service charge, from the local bank.

We used the Capital One 360 card to withdraw cash at a bank ATM last month in England (near Skipton). No fees charged by Cap One or the bank. I tried looking for an Allpoint ATM in UK and they were only a few, none convenient.

I usually make one trip to an ATM at the beginning, just to have some cash if needed, but otherwise, I use credit cards for every transaction. Not only does it eliminate ATM fees, but I have a record of all transactions, which helps with budgeting.

You can no longer generalize that European banks do not charge ATM fees. A few years ago, this was true. Today, some do. But there are enough that don't, that you can cancel the transaction and find another bank.

Look into Revolut cards. They are specifically intended for travel.

I guess some of the thoughts, and maybe where I differ....

ATM/Debit card use: Not sure why people are hesitant to use them, that is what they are for. I do have a Schwab account, as well as my credit union, both utilize MA or Visa for transactions, and are protected. If there is fraud, you are covered, you may be out up to $50, the one time in 40 years I had an issue, I was out nothing. Your bank account is not emptied, never to be seen again.

Fees: I have experienced like many others, European banks are quickly adopting fees. I will be in Spain soon, I expect both fees at bank ATMs there, as well as offers of DCC.

Of course with contactless, either by phone or card, and having about 80 euro on me at the moment, I may not need to use an ATM the month I am there (OK, I still have this need to always have about 50 euro in my pocket at all times...so maybe once or twice)

Paul - I am glad you haven't had any negative experiences and maybe your bank provides more protection.

I dropped my debit after a couple of different instances. One, a friend had her bank account emptied when they stole the number on her debit card. While her money was eventually returned, it was a big hassle. Now the laws may have changed since it was a while ago, but I haven't revisited the rules since then. It has been a while. Previous to that, we had to have our own debit cards replaced three times in a year because of theft/fraud with the debit card numbers being stolen. Too much of a headache for me.

At least I have more control with ATM cards, which I will use again.

We have separate travel accounts and that works well for us. We have our main joint account that paychecks, bill pay etc all goes though, and we leave those debit cards at home. We each have separate checking accounts as well and use those for travel. That way if the card gets compromised etc it will not affect our main account, and then we still have our spouses card for the rest of the trip. We really only use those cards to get cash at the ATM when needed. This system works for us and we have been doing it for about 15 years so far.