Is a Travelex money card worth it?

Go to your nearest credit union (or find one online). Get an ATM card from them. They don't charge exorbitant fees because they're not-for-profit (I pay 1% of each transaction with my ATM card, no other fees). Get cash as you need it, use a no foreign exchange credit card whenever you can. No need to reinvent the wheel here. Travelex is not a good option for anything (haven't you discovered this when ordering money from them? what was the markup?). I don't believe this money card will be readily accepted anywhere, which is an even worse problem.

Give this a read:
https://www.ricksteves.com/travel-tips/money

I didn’t notice a major markup using Travelex to order cash, but I did notice that when the hostel I booked for my arrival charged my chase account, I was charged a $5 transaction fee as well as a 5% markup. As for a credit union, I just checked and the nearest one to me requires you to be retired (I live near a wealthy retirement community), and the next one is over 70 miles away, so a credit union isn’t really an option.

Hate to tell you, but I think virtually everything you've written above is a mistake.

Two things which are highly contradictory...

I want to avoid incurring large fees

and

ordering some euros from travelex.com

Anything involving Travelex = you are paying VERY high fees, you are getting gouged.

There is no reason to "order euros", from anyone (least of all, from Travelex). There's also no reason to pay large fees for pulling your own money out of an account via debit card. As stated above, just use any reasonable bank or credit union, use their ATM in Europe to pull out Euros (or other local currency). The fees should be pocket change (unless your bank is a terrible one - in that case, join a local credit union).

You do not need to get Euros before you leave home, and you do not want to "exchange" money. You land at any airport in Europe, there will be ATM machines there, you use your ATM/debit card to pull out cash, any fees charged will be less than the cost of a beer.

It's easy, reliable, a non-issue.

As for a credit union, I just checked and the nearest one to me requires you to be retired (I live near a wealthy retirement community), and the next one is over 70 miles away, so a credit union isn’t really an option.

This is hard to believe. Credit unions are everywhere and they're prolific. I could be wrong, but I'd guess that your search for creit unions may not have been very effective. Where do you live? Would that be the Wyoming town in your username?

Wherever you are, try this link - a decent search engine for finding credit unions near anyplace:
Credit Unions Near Me

Note: is says there are 50 credit unions near Cody, WY (although their definition of "near" may be a little loose)...

Travelex is synonymous with high cost foreign currency exchange. Germans don't like credit cards because the merchant usually has to pay about 3% fee and the money is slow, 7 to 10 days, to make it into their bank account, and rubs Germans the wrong way. So a 5% adder is common, especially for smaller establishments when using a credit card.

Besides credit unions, there are internet banks, like CapitalOne that don't charge foreign currency transaction fees.

Or open an online account with Charles Schwab and fund the checking account with the amount you want to have for your trip. No fees. When you need cash, you get the local currency from an ATM. Use a credit card that doesn't charge a foreign transaction fee.

perhaps this will help you search for a CU

http://www.asmarterchoice.org/

Thanks for the help. So, the overall message I’m getting is that Travelex is horrible, normal banks are a necessary evil, or credit unions are the best options in my case? Would incurring the transaction fees from chase be better than atm fees, or is cash the way to go in Europe? From my experience, cards have always been better, but I’ve read a lot that Europe is different in where cards are useful. I want to avoid issues with using USD on an ATM where I wouldn’t be able to, or are there no issues so long as I use an ATM that has the currency I need? For example, can I use my debit card with USD on an ATM in France to get Euros, and an ATM Switzerland to get Francs? Do they have to be special ATM’s?

I dumped my big bank for a credit union long ago. The fees are lower and the customer service is better. I still don't know what the advantage of a big bank is for checking and savings.

(You get the local currency from the ATMs in Europe - in France you get Euros, in Switzerland, Francs, etc. No USD comes from an ATM in Europe. The currency is converted for you - plus any other fees charged.)

There are plenty of credit unions you can join. You don't even have to visit physically. If you want one just for traveling, the Andrews Federal Credit Union in Maryland for example offers an ATM card (not even a debit card if you don't want a checking account) with no fee per-use and 0% currency conversion fee. I've used one for years. Andrews also offers a visa credit card with no foreign transaction fee and no annual fee (but no rewards program to speak of). It's also a chip and PIN card that works in train station ticket machines and unattended gas pumps, where many US chip credit cards won't work.

The only stipulation is that, to be eligible, you might need to join the American Consumer Council (ACC) - a one-time $5 fee.

If it bothers you to join a credit union that isn't local, no doubt you can join a local one even if it doesn't have quite the same rates as Andrews.

Credit unions offer reciprocal use of ATMs through something called the Co-Op network. You can use your local credit union's ATM without belonging to it, for no fee, if you use your ATM card from another credit union. And sometimes they offer something called "shared-branch banking" so you can do transactions in person with your remote credit union (like Andrews) without being a member there.

As for your Chase visa: they certainly offer some visa credit cards with no foreign transaction fees and no per-charge fees. All of their cards have different terms.

My take on Travelex prior to arriving in Europe....forget it period. Even the most generous exchange rate offered is just plain bad! There is a Travelex at SFO in the international departure area.

A couple of years ago I got 1,000 Euro from BofA, the minimum at which no service or any sort of fee would be charged. I went to a major branch office in SF, was told the cash would be available in a few days. They certainly did not have it on stock, so to speak.

It was, either I could have it mailed to me or come back to pick it up. The bank said I would receive a phone call so that I could come by to pick the cash. I chose that option instead of receiving in the mail

Part 2....credit cards are not necessarily better. It does depend upon where you are and who is being paid with your US credit card.

In Austria and Germany the small hotels/Pensionen and restaurants which don't primarily cater to tourists would much prefer cash. On the last 2 trips, 2016 and 2017, I've found myself paying more often with cash in Germany, so I didn't have to bother with a credit card, or I would not even check if the Visa/MC logo was on the restaurant door or window before stepping in.

You can use the credit card more freely in France and London.

Emma, my plan is to start in Paris, go to Lauterbrunnen, all over Italy, Athens, Budapest, Germany, Vienna, Prague, Amsterdam, Brussels, London, Edinburgh, and Dublin.

Travelex is fine for getting a starter pack of the local currency, whether it's Euros, Forints, Korunas, or English pounds. While you'll be paying a premium on the exchange you can minimize the damage by withdrawing the minimum, ie just enough to get you started, then rely on ATM's upon arrival...using a no fee debit card as others have suggested.
Capitol One credit cards are a good choice for foreign travel.

I do not mean to be rude, condescending, obnoxious, etc to the OP, but - I am shocked at how many times this question has been answered in these pages with the same information over the several years I have been here, and how many times this same question gets asked, with the same anti-consumer products being looked at, and the same information always being given in response.

If you open a bank account online with CapitalOne or Schwab, since you say a credit union is not working for you, you will get an ATM card that working in the system will have a cost to use of between point-three and point-seven of one percent over the interbank exchange rate at the time. You cannot do better. Neither of these, as well as the various credit unions, charge a fee for ATM use (and Schwab refunds the fee if an external ATM charges you). European banks by law do not charge ATM fees. While the CapOne card is an ATM card only, the Schwab card is a chip-and-pin debit card and thus also may be used for ticket machines, automated gas, point-of-sale, overseas purchases online, and so on. If this is a joint account you can get a card for each of you with different numbers with the daily limit applied separately to each card. We have used these cards in 18 countries without any problem - ever. That there may be no physical bank within 500 miles of you will not matter, as you can transfer money to these accounts online from your regular daily bank.

I hope this article will help you choosing a good credit card for overseas travel (only for credit card purchases, not cash withdrawals)...give it a read (there is a link to cards with zero foreign transaction fees, which is helpful):
"What to ask before taking credit cards overseas"
https://www.bankrate.com/finance/credit-cards/taking-credit-cards-overseas-1.aspx

By the way, my credit union is in CA and I live in VA. Everything is done online, I don't visit the "bank" at all.

I use Schwab. I put 50% more than what I think will be needed into the Schwab account. I can access those funds on any terminal on the Plus system, which is common. No direct fees. As Larry notes, the conversion rate is how the system makes money. We have the Chase Sapphire card which does not charge fees for foreign transactions. As Larry says, these are well-known options.

European banks by law do not charge ATM fees.

That statement might be a little strong, since the Unicredit (big Italian bank) ATM's in Italy charged ATM fees last year when I was there. Walked down the street to an ATM operated by an Italian equivalent of a credit union/savings bank and they did not have ATM fees.

Caixa, a major Spanish bank, charged me its own fee as well as the ATM fee imposed by my own bank. Fortunately that is an exception. The OP should understand that a user fee for foreign exchange is charged by the issuer of the card back in the US. The exchange rate is a separate issue. Any way to get foreign currency -- over the counter, by bank card or credit card -- is actually buying the currency. The customer will pay more than the published exchange rate, and if selling it back at the end of the trip, will receive less than the published rate. The difference is profit margin for the bank. While fees for plastic vary, there's little to no difference on exchange rates.
If I land at a European airport with no euros in my wallet, I will seek out a bank machine, even Travelex if no bank as available, and withdraw enough euros to keep my going until I get to an ATM in a bank near my hotel. There is no need to buy the euros back home, which is often more expensive. As a precaution, I maintain chequing accounts with ATM cards at two different financial institutions, so I have back-up. Travelling solo, I also never carry all my plastic in the same wallet. And I do withdraw substantial cash; it's no less secure than at ATM that gets lost/stolen/mangled.

Not all credit unions offer debit/ATM cards providing zero foreign transaction fees. The ones near me charge 3%. Search the Travel Forum for prior posts which include a full description of Travelex costs....high.

You've asked a good question. You are wise to be thinking in advance about such things.

Debit Cards: I have the Charles Schwab Investor Checking Account that I use exclusively for travel. I've used it for several years and have been very pleased. There are never any ATM fees period. There are no foreign transaction fees. This is better than anything you will get at a credit union. I have been pleased with their service. This is a great debit card for travel. I have found a secondary plus is that I put my travel savings into it each month and then it is separate and I always know how much money is available for travel.
Note: In order to open this account, you also open a brokerage account. Don't be mislead by this. Although you open the brokerage account, you have no requirement to put any money into it. I never have. It is quite a simple process to do.

Credit Cards: There are several credit cards out there that do not charge foreign transaction fees. Next look for added features such as travel insurance, discounts, cash back, or frequent flyer miles. Andrews Federal Credit Union (anyone can join by first joining a consumer protection group) offers one of the few true chip and pin credit cards out there. Most of the time you will not need a true chip and pin unless you are dealing with automated services such as ticket machines or toll booths.

Travelex: They provide a service and do charge fees. If that service has enough value to you so that you don't mind the fees, there is not a problem with using them. They will cost more than other options.

Sam is correct, some Italian banks, along with Spanish banks, are in fact charging ATM fees. But note these are Italian banks. We used German bank ATMs in Italy and Spain the ,last two trips, they did nto charge fees as per their policy.

Regarding Travelex ATMs, we tested the Travelex ATM in Heathrow and were charged the identical conversion rate that we received later that morning at a NatWest Bank in London. With all ATMs and credit cards you must make certain that the transaction is being done in the local currency, and do not accept their offer to do this in your currency, which will be at a 3 to 5% mark-up.

For a really good version of the Chase Sapphire card, their Amazon card is no annual fee, no foreign transaction fee, 3% cashback on Amazon purchases, 25 cashback on gas, drugstores, restaurants and office supplies, and 1% on everything else. Foreign charges are exactly at the conversion rate as there is no friction to pay for ATM servicing. So using this at restaurants in Europe is the least expensive option, since you get cash back.

There are many many fees for everything you do on a Travelex money card. A fee to buy the card, a fee to add money to the card, an exchange fee to convert your USD to EUR to load to the card, a fee if you spend the money as a different currency than what you asked to be loaded to the card, a fee to get money from an ATM, a fee to use it to make a purchase, a fee to check the balance, a fee to close out the card after your trip if you want the remaining cash, and so on. Sounds like the exact opposite of what you wanted.

The default Capital One Debit card which has no fees is a Debit card with a MasterCard logo on it. It is not an "ATM only" card as reported in one comment. I have had one now for nearly 15 years and have never had it not work in Europe when getting cash from an ATM (which is the only thing I use it for). There is absolutely no cost for the Capital One 360 account, no minimum balance requirements (the account will never close as long as you have at least $1 in it), no fees to move money in and out. You can sign up for it online and never have to go to a physical location. Much better than the 5% + $5 the big US banks charge per transaction.

Unfortunately some European ATMs now do charge a fee. It is clearly indicated so you can avoid the fee by going to an ATM operated by a different bank. Also, never allow an ATM or a merchant to bill you in your home currency, always insist on being billed in the local currency (EUR, GBP, etc) or they will use an exchange rate that is very inflated in their favor costing you up to 5% over what you should pay. Your account will always get billed in your home currency anyway when the transactions settle.

Looking into both Shwab and Capital One, neither of them look like they’d work. Capital One says it’s used at their locations or ATMs to withdraw cash, so wouldn’t I still be hit with the same fees as Chase? And Shwab doesn’t have an ATM in Paris (just searched as an example), so wouldn’t it be the same scenario? Or would I just use a random ATM wherever I’m at?

Plus Shwab requires the brokerage account which says has a minimum $1,000 deposit.

I have no idea why people make this so complicated. I've had my Andrews FCU ATM card for years. $0 fee and 0% conversion fee sure is nice in Europe. Maybe someday I'll actually visit an Andrews branch if I ever get to Maryland - but I doubt it.

I don't think you have a very clear understanding of now ATMs work. Do you currently have and use a debit card at ATMs in your area? Second, the ATMs is a machine that processes your card regardless of who issues the card. It is the card issuer - generally the bank - who determines the fees charge for using the debit card. Therefore, Chase can charge different fees than Schab, or Bank One, or Capitol One, etc. There is no question that the cheapest and most convenient way to obtain local currency is via debit card at a bank owned ATM. It is best if your debit card charges low or no fees, but even if your debit card charges a standard 3% fee it is still cheaper than any other alternative -- including Travelex.

Ive always used a Wells Fargo card with Wells Fargo atms, and chase with chase atms. I was always told never to use other atms, so this scenario is completely new to me.

Will you withdraw $1000 while in Europe? If yes, then open a Schwab account and transfer money from the account as needed to the related checking account. What's so challenging?

I was always told never to use other atms

This makes sense as they probably charge you high fees to use other ATMs, and it keeps you loyal to Wells Fargo. The key is to find a less punishing bank because there is a spectrum of greedy to super greedy. A credit union works for me, I don't care to be shaken down when accessing my own money.

Every banking product (whether credit union or for-profit bank, or ATM debit card or credit card) spells out all the various fees on a one page-disclosure/summary. No one can answer what the fees are for the cards you are using, or plan to use overseas because each card has its own terms specific to that card (there are a variety of different combinations). You have to look up the exact card and the fees will be spelled out. It's not even small print, it's pretty large print so it's impossible to miss.

100% agree with Agnes. I never need to worry about hunting down an ATM in Europe from some specific bank - just use the closest most convenient one and never get charged any fees. Some people warn you away from ATMs not owned by banks, but I've never been charged a fee to use my credit union ATM cards anywhere in Europe over many trips. (In some countries e.g. Spain I hear some ATMs do charge fees but I've never been there.)

I'm one who will warn you to avoid ATM's not owned by banks. That's only because some machines that resemble ATM's have names on them like Travelex and are really exchanges that charge big fees. Stick with something that has bank, banc, banco, etc. in the name. I've really only seen the automated exchange machines in airports.

As for paying fees, if it's a bank ATM, the European bank won't charge you a fee (the comment about Italy is the first I've heard of in Western Europe). Your bank probably charges something. Shop for foreign transaction fees when you pick a bank or credit union. Some banks and brokerages have free options but they come with requirements. If the requirements work for you, great. The biggest banks often charge something like $5 per transaction plus three percent, which adds up quickly. It's fairly easy to find a one percent flat fee option from smaller banks and credit unions. Finally some banks advertise free transactions at participating ATM's in Europe. I'd avoid these. Unless you know exactly where a free ATM will be, and it's convenient, you're likely to spend too much effort trying to find a free machine and end up just paying big fees. I'm sure there are millions of ATM's in Europe. A couple thousand free one's may seem like a lot, until you start searching for them.

Schwab requires $1,000 in the brokerage account? Really? Do you have that in writing? Because I can tell you that my required Schwab brokerage account has ZERO dollars in it, and that has been the balance since it was opened several years ago. The checking account keeps about 2 grand in it, not because it is required, but because that is a comfortable amount for me to leave there and have ready. If there even is a minimum for the checking account, it can't be more than a hundred, but this simply is something I can ignore.

Perhaps you are confusing the $1,000 with the $1,000 that you are allowed to withdraw from it daily.

As for my CapOne account, the card is in fact an ATM only debit card, it has no chip, and CapOne says I will not be getting one with this account, which is their hi-interest money market account and I think is no longer an offered product. This is no problem, as with both cards, plus no foreign transaction fee credit cards from CapOne and the Chase's Amazon card we have all our cash needs covered.

And please, codyw - - it's been stated so many times here and in the past - CapOne and Schwab DO NOT CHARGE FEES AT THEIR END FOR ATM WITHDRAWALS - period.(sorry for theCaps)

The $1000 Schwab brokerage minimum is waived if you have a checking account.

"The Minimum Deposit Requirement is waived if you open a linked Schwab Bank High Yield Investor Checking® account or establish an incoming monthly transfer of at least $100 through direct deposit or Schwab MoneyLink.®"

https://www.schwab.com/public/schwab/nn/agreements/schwab_pricing_guide_for_individual_investors.html

There's currently a $100 bonus for new Schwab customers. It's not totally clear if the $1000 in brokerage account is necessary for the bonus. Opening the accounts will result in hard credit pulls. Google "schwab $100 bonus" for the bonus link plus details on various financial blogs.

I've used a Capital One bank ATM card pretty widely in Europe (it's the back-up to my credit union card). No problems and no fees. I did encounter an ATM in the eastern part of Germany that did not like my US ATM cards, and the bank confirmed that its machines were touchy that way. That was just one place in the eleven countries I've visited recently.

I think Brad hasn't spent much time in Spain in the last few years. As others have stated, there are most definitely some European banks charging ATM-usage fees. Several of them have machines in Barcelona, enough that it was sort of annoying. But there were also plenty of machines with no fees, so it was a matter of paying attention to which bank's machines you liked and which you wanted to avoid.

First of all, you do not have to fund a Charles Schwab brokerage account, only open it. Many, many people on this forum have done just that. You are not reading the information correctly.

A Debit card with a Visa logo (such as the Charles Schwab one) works at any ATM that takes VISA. This is pretty much any ATM anywhere in the world. They do not charge fees. If the local bank charges a fee, then Schwab credits your account back.

You are not required to use the same bank as issues your card.

I think we should drop the discussion about Schwab because it is just adding a lot of confusion -- yes they do. No they don't. We are mixing up the discussion about two complete different fees. ONE - a fee to use an ATM and TWO a fee for converting your money into the local currency -- currency conversion fee.

It is obvious that codyw does not have a good handle on how ATMs and Debit cards work. Too bad we cannot have a phone conversation for this one. It would be easier. See if I can keep it simple.

In the US and Europe all ATMs are owned by someone -- generally a bank. Generally any debit card with a VISA or Mastercard brand can be used at any ATM in the US and Europe. In the US the bank customers of the bank that owns the ATM can use that ATM for free. All other users will be charge a fee if they use a different bank's debit card at that ATM. That fee is often $2 or $3.

Therefore this is why your statement ----- Ive always used a Wells Fargo card with Wells Fargo atms, and chase with chase atms. I was always told never to use other atms .... is not totally accurate. You can use other ATMs but you will be charged a fee. OK ?? Free to use you own ATMs but not someone else.

In Europe, it is NOT common for the bank owner of the ATM to charge a fee to non-customers of that bank. Therefore, it is generally free to use your debit card with any other bank owned ATM. OK ????

The other fees we are discussing is commonly called the currency conversion fee (3-5%). THAT fee is totally determined by the card issuer and can be anything that they want to charge but it must be disclosed to you. Cannot be hidden. Any question about fees being charged -- call your bank.

I didn’t notice a major markup using Travelex to order cash

Really? You need to pay more attention.

Right now, according to Oanda.com, the Interbank (official exchange) rate is 804,18€ for $1000 US.

I just checked with Travelex's website and their rate is 729,90€ for $1000 US. That's for cash or to load a card. That's a 9¼% exch rate discount.

Wells Fargo, today, will give you 706€ for $996.97 US, which is a 5.2% discount. (Actually, Wells sets their rate or the day at 5% sometime in the early morning. As the day goes on, and the Interbank rate changes, the WF rate might be more or less than 5%.)

I was charged a $5 transaction fee as well as a 5% markup.

I guess I wouldn't be surprised for Chase, because I consider them crooks, but Wells Fargo only charges 3% for "exchange conversion" and charges $5 only for foreign ATMs, not other transactions. I put exchange conversion in quotes because it's really a foreign transaction fee. The bank will charge you this whether they pay in local currency or USD. So, Dynamic Currency Conversion, where the bank or vendor changes the charge for you into USD at their rate doesn't save you anything. Your bank will still charge you 3% regardless.

Good job Frank.

I think on the subject of fees to use an ATM, it can also be expanded to the 2 separate fees. In the example of the OP having accounts at Chase and Wells Fargo. If the OP tried to use the Chase card at a Wells Fargo, he would incur 2 fees, one from Chase for using somebody else's ATM, and another from Wells Fargo for using a card from somebody else's bank. The first would just show up on his bank statement, the second would be disclosed on the ATM screen before the cash is dispensed and you would have to click on the "OK" button to accept the fee and get your money.

So now, for the purpose of minimizing fees, lets use CapitalOne Bank as an example. CapitalOne is an internet bank that has no ATM's, so they can't charge a fee for using somebody else's ATM. The ATM owner may charge a fee, but that will be disclosed at the time of the transaction. Most, but not all, banks in Europe do not charge a fee for using the ATM. Since CapitalOne does not charge foreign currency transaction fees, that will be at the interbank rate prevailing at the time of the transaction. Currencies trade just like stocks, the precise rate changes constantly as millions of $ worth of currencies are being exchanged continually through out the day, 24-7.

Ok, so I think I understand now. Basically, even though capital one doesn’t have any ATM’s in Paris for example, I can use any ATM without incurring a fee on capital ones end? The only fees I’d occur would be on the end of whoever owns the ATM, and I can avoid those by finding an ATM with no fees?

Just the reverse of what you said. It is your card issuer that determines the fees.

Yes Frank, but doesn’t the capital one card have no fees so that means any fees would bevfrom the atm’s end?

Okay, this thread has become confusing for just about everyone....

First of all. Make sure you are talking about a Debit or ATM card (not a credit card). Credit Cards should not be used at ATMS unless it is the only option available to you. With Credit cards you accrue interest on a cash advance.

Secondly, each bank or credit union that issues a debit card has its own policy regarding ATM fees and foreign transaction fees. You want a card that
1) Does not charge ATM fees anywhere
2) Credits your account back for any ATM fees charged by ATM provider
3) Does not charge foreign transaction fees.

Several cards that meet these requirements have already been suggested in this thread so I won't go through it again. If your Debit Card has the VISA logo on it, you should not have difficulties using it in almost any ATM around the world. If you sign up for an account with the features listed above, you should not have any fees associated with the transaction.

No, Frank. You might still get charged a fee to use the ATM by the ATM's owner, particularly if it is not a bank ATM. There have been posts here about that happening.

Credit Cards should not be used at ATMS.

Correspondingly, I would say that debit cards should not be used for POS transactions.

CapitalOne is an internet bank that has no ATM's, so they can't charge
a fee for using somebody else's ATM

Capital One has bank branches, ATMs, and Allpoint ATMs associated with it. It's not an internet bank, it has brick and mortar locations throughout the US. There is no evidence (that I know of) that they can't or don't charge for using other ATMs.

Capital One doesn't charge for use of European ATMs. I haven't tried using my Capital One ATM card in another bank's US ATM so cannot say for sure what would happen.

Cody, I saw nothing wrong with your short summary.

Correspondingly, I would say that debit cards should not be used for POS transactions.

Why not? That is exactly what they are designed for.
I use my debit card a lot more than my credit card, both to extract money from an ATM and for shopping. I only use the credit card on the internet (sometimes, debit card is often cheaper), or when travelling and the shop doesn't accept debit cards.

On the US end, of course lots of people use debit cards for POS. The issue is that credit cards have more legal protections than debit cards. Maximum liability for fraudulent use is $50 I believe, and even that almost never happens. When the statement is viewed, you can dispute and be reimbursed for fraud. With a debit card, someone can drain your entire bank account and the fine print of your bank agreement says the bank is not liable for the lost funds. In practice, banks usually do reimburse their customers, but it can be a hassle in time spent being "pennyless" until it gets cleared up and all the proper hoops have been jumped through.

Lately, the fraudsters have been using skimmers and tiny hidden cameras on unattended gas pumps, so they get both the card number and PIN.

When I am in Germany, I use mostly cash, which I get from ATMs with my debit card, for almost everything. The small, independent hotels or guesthouses I use almost never take plastic, and they are always less expensive than those that do. If I do use a credit card, it is usually for a purchase from a major retailer, and I never lose sight of the card.

At home, I have a debit card that I use for internet sales. It is tied to a checking account in which I usually keep less than $100, with no overdraft protection. I did this on the advise of my bank after they called me one day to ask if I had charged $18,000 to Avon for cosmetics.

You have to be careful which Capital One account you get: It must be the 360 online account they offer to guarantee you have no fees for ATM transactions. Some of their other accounts do charge fees for ATM use.

I have had the 360 account for over 15 years. I have never been charged any ATM fees by Capital One (or its predecessors for this account) anywhere in the entire world. I have used that Debit card in ATMs all over Europe.

I agree with the statement made about being told to not use your Wells or Chase card at ATMs not belonging directly to them. This is good advise in the US where ATM owners love to charge large fees when you use their ATMs. Since most places in Europe do not charge fees at the ATM, not something to really worry much about as long as the ATM is run by a bank. You do have to worry about the fees your bank will charge you for international transactions. They charge just because they can. . And no, you will not find ATMs operated directly by US banks anywhere in Europe so don't waste time looking for one.