Debit or Credit ~ Another Option? 1st Timer.

Most alternatives are expensive. The preloaded debit cards often carry fees in the range of 10 to 12%. Debit and credit cards are the most convenient and practical way to go. Just take good precautions. Take two debit cards, which I think you should do anyway, tied to two different independent accounts.

I take one debit and one credit. I use the debit for cash and the credit for bigger business purchases (rental car, train ticket, department stores, some hotels and restaurants). My wife takes a debit and credit card for seperate accounts. We are both signers on both debit card accounts. If my card gets lost, we can call the bank, transfer the money into the other account and use my wife's debit card.

The idea is to give yourself an option if a card is lost or stolen.

Just don't want my credit/debit numbers known to the world. Crazy? Here are the fees associated with a Visa prepaid from my AAA club:

Fees

Purchase fee applies.
The minimum card load is $100; maximum load/reload is $3,000 in branch, $1,500 USD online or phone.
Maximum balance on the card is $9,999
Card can be reloaded as many times as you wish
Load and reload processing fee
In Branch: $0.00
Online/Phone
$100 - $500 = $10
$501 - $1,000 = $20
$1,001 - $1,500 = $30
Up to 3 Companion cards for $1.50 each
ATM Fee Domestic: $1.50
ATM Fee International: $3.00
Foreign Exchange markup: 3%
Account Maintenance Fee per month: $1.25 after 12 months of inactivity
Daily ATM limits and/or Over the Counter Cash Advance: $1,000 per day
Over the Counter Fees for cash advances: $5.00
Replacement cards: $5.95
Emergency Cash (amount available): up to $1,000

Reasonable?

Jack

I don't think so. But lets add it up, Since you are concerned about the liability I am only going to put 1000 on the card -- Costs $20 or 2% Five withdraws of $200 each is (5 @ $3,00) another $15 or 1,5% and another 3% for currency conversion or another $30, Cost you about $65.00/ $1000. You could save some by less frequent withdraws, Debit cards vary but it is common for the debit card to charge a 3% or about $30 for your thousands. Many cards are less and a few charge no fees. You are paying about twice the price for the preload card.

Next issue -- how widely accepted is the card? Will all ATMs accepted it? How do you reload from Europe. Telephone is not especially secure and a public internet access is absolutely not secure, Plus what every related costs, LD, internet charges, etc., to do the reload.

I think you are overly concerned about your credit/debit card numbers. We have used debit/credit cards all over Europe. E Europe, Turkey and never
had a number stolen

I wouldn't worry so much about your liability. Federal law limits the amount of liability you can be hit for to $50 (I think) if you report the loss within 24 hours to your bank. I know that going even further, some banks, like mine Key Bank, will completely refund everything you may have lost.

Especially with credit cards, there is still a 48 hour or so period at least before transactions get formally approved. Therefore, on the off chance someone steals your card, you can call and they'll block the transactions immediately.

One other thing to keep in mind with the prepaid card: Even though the card has a daily limit on withdrawals of $1000, I have never seen an ATM abroad that will let you withdraw that much.

forget the debit cards. Simply not safe to use. If there is an unknown fraudulent charge against it, the money comes right out of your account screwing up bills you owe and may drain the account temporarily until you get home to straighten it out. Bad idea. Use a CC card.

Prepaid Debit cards at least limit loss but the fees are there and w/o a relationship to the bank, they don't go out of their way to help you if a problem occurs.

Use a straight ATM (no debit capability) for cash withdrawals when cash is needed. Save the receipts in case of problems when you get home and write on the receipt the amount in euros you got if it is not clear.

You can always open a (temporary) account at an online bank and use that bank's card to protect your real account.

Thank you all for the helpful and informative replies! Jack

I always keep a $100 or 200 in travelers checks American Express brand tucked away on trips.

It cost nothing to cash them at AE offices other than the exchange rate.

More than once, no CC accepted, the atms not working etc.

Its a personal choice - Happy travels