ATM/Debit Cards with no foreign transaction fees?

Posted by Frank (Charlotte, NC, USA) on 03/22/15 07:36 PM

Several years ago I opened a Capital One Checking Account to take advantage of not having to pay any type of transaction fee when withdrawing money in ATMs in a foreign country. It has worked great after several trips to Europe (and other countries) and I have never been charged any fees for withdrawing money at a foreign ATM.

Well my parents were interested in getting similar benefits because they are going to be traveling to Europe in the near future (Italy & Germany). I referred them to Capital One but it seems Capital One no longer offers such a checking account (I still have the benefit as I have been grandfathered in).

Can anyone make any recommendations of any bank that still offers this benefit? I wanted to search the forums but could not find any search functionality. Any info would be greatly appreciated. Thanks.

Posted by Carole

Tallahassee, FL

03/22/15 07:42 PM

177 posts

I just got a Capital One 360 checking for the debit card for my upcoming trip to Europe in 3 1/2 weeks. As far as I am aware they do not charge for ATM fees. Your comment has me wondering now. So I will definitely be looking into this again.

Posted by Frank

Tresana, Highlands Ranch, CO, USA

03/22/15 08:00 PM

23267 posts

Personally I would just call around in your area. Credit union are generally a good source plus a number of advantages when not traveling.

Posted by Larry

03/22/15 08:06 PM

2739 posts

Cap One does appear to have changed their products for new accounts. They mention Allpoint ATMs as being free of fees, and they are not everywhere -see allpointnetwork.com, and their ATM locator. However, that card also appears to have the "Mastercard" logo, which SHOULD mean that it will work at any ATM on the Mastercard network (Cirrus, Plus, etc.). A call to Cap One's Customer Service should get the latest and correct info for this account and card, I have always found their Customer Service excellent (and BTW Cap One offers Mastercards that do NOT have any foreign transaction fees, along with various cashback programs)

Meanwhile, Schwab also offers an account with an ATM card that has no fees (and also repays fees charged by others), it's the High-Yield Investor Checking Account, which requires that you also open a Brokerage Account - although there is no requirement that you have any money in the Investment Account (yes, it makes no sense). Their card is platinum Visa Debit card, with a $1,000 daily limit, and with a Chip. This card has the Interlink and Plus logos, and thus should be good to go everywhere.

Count on upwards of a month to get either of these opened and cards received, the first electronic deposit will likely take over a week to work.

Posted by Harold

New York, NY, USA

03/22/15 09:27 PM

11294 posts

In addition to credit unions and Charles Schwab, TD Bank offers accounts with no foreign transaction fee for ATM use (no percentage markup on the exchange rate). There is a $3 fee to use the card at non-TD banks if you have a more basic account (low minimum balance); for the higher minimum balance accounts, that fee is reimbursed, so there are no fees at all for foreign ATM use.

Posted by Richard

Los Angeles

03/31/15 02:58 PM

1825 posts

I opened a Cap One account back in 2011 for my first Europe trip and wrongly assumed they had changed their policy until I read this thread. Thanks Frank!
Spoke to them yesterday to confirm I was grandfathered in, notified them of travel dates and countries and made sure the account wasn't dormant from non-use. Still had ten bucks in the account so they didn't close it. I'll soon be transferring funds for our trip in May and checking one more thing off my list!
Now just hoping the Euro doesn't go up until after we travel.