Money/Capital One

Is it a Visa or a Mastercard? That is what matters, not the issuing bank. Both Visa and Mastercard will be accepted just about anywhere, but some automatic machines (rail ticket machines, unmanned gas pumps) may not work with your US-issued card, since the standard over much if the world is moving to a card with a "smartcard" chip. (Just about) any card reader staffed by a human will be able to read the magnetic stripe, although you may have to remind the clerk that you'll need to sign a paper receipt.

If it's an ATM card it will probably work in most/all ATMs as long as it has a Plus or Cirrus logo on the back (I'm pretty sure a CapitalOne card would meet this standard).

I wouldn't bother exchanging any money before the trip - just hit the ATM once you get there. The fees you will pay to get euros here can be higher than any increase in the exchange rate before your trip. I only use a Capital One Visa when abroad. It has worked perfectly and been accepted everywhere from China to Spain to Costa Rica.

The only reason we wanted to get euros ahead of time is that our bank that we have our debit card with charges 3% of whatever we take out PLUS a $3.00 each time,,,,,

Well I'm confused. Is an ATM card (MC or Visa) not the same as a credit card? And a debit card (Visa-
US Bank)-what are the chances of a foreign ATM machine or anybody/anything else in Germany or Poland taking that? Does the foreign acceptance depend on the issuing bank (i.e. Capital One or Wells Fargo) or whether it is a Visa, MC, Discover etc? It is not encouraging that my issuing bank doesn't seem to know the answers.

You need to read this:
http://www.ricksteves.com/plan/tips/moneytip.htm

Sharon, this is a world of difference between a debit and credit card. Debit card takes money directly from you checking account. A credit card charges you account. Both can be used at an ATM with a pin. A debit card takes the cash from you checking account. A credit card treats it like a loan that has to be repaid with interest and fees. You should NEVER use a credit card to obtain a cash advance unless it is an extreme emergency. Always use a debit card for cash from an ATM. Debit and credit cards are universally accepted around the world and the two most common and acceptable is VISA and Mastercard on the Plus and Cirrus networks.

Hi Frank. How is Panera? My US Bank card is both debit and credit. I presume foreign ATMs give me the choice of using it as one or the other? And in English, of course?

And Jeff, thank you for the website. I learned a lot!

Hi Susan,

I love my Capital One credit card - just be sure to notify them about charges overseas. They have put my card on hold once or twice when I made hotel reservations in advance! When I called, the employee even told me he thought the policy was odd, because so many people get the card especially for foreign travel, because they are fee-less.

After a couple of years, I got tired of paying $5 a pop for ATM withdrawals, and opened a money market account with Capital One, just for the ATM card. Turns out I am also getting about 3 times more interest on the money than I was with my "regular" bank. Since there are no withdrawal fees, I don't have to think about taking maximum amounts (and having to carry the spare cash around with me). This was really useful last month in Budapest and Prague, so I didn't have left-over "funny money" after brief stays.

The only "hassle" is that the credit card and the ATM card are handled by separate divisions, so you need to notify both when you are travelling.

I have never had the credit card refused - used it in many countries in Europe, and Asia/Pacific (Thailand, China, Australia, New Zealand). You may have the occasional glitch with the ATM card (like any other) - the banks often go offline for about an hour or so in the middle of the night. Unfortunately that may be midday in Amsterdam when you are trying to get cash. Just try again a little later.

I never get foreign currency before I travel, because the exchange rates are always poor, especially in the U.S. I have never had a problem getting foreign currency at an ATM machine on arrival at an airport or train station in a foreign country. And if you happen to hit that offline hour, you can always change $50 if you can't buy what you need with the credit card.

Thanks everyone - for the quick and thorough responses - I love this help line!