Has anyone used ATM cards with Capital One 360 Money Market Savings Account in Italy? I'm concerned since I read Italy banks will only use checking accounts to withdraw from at ATM's. This account comes with an ATM card with unlimited withdrawals and no foreign transactions fees, although it has other restrictions that will not matter for this trip. I opened this account for this purpose and really don't won't to open a separate checking account if not necessary. Thanks!
My wife and I were in Italy in March for 30 days. We used Capital One 360 . We had no issues. I caution you to use the option at ATM's to review the transaction fees. Almost all don't charge a fee but some will. I suggest you use an ATM at a bank location and avoid the small retail shop machines. Again, check to make sure you wont be charged a fee at time of transaction.
I'm concerned since I read Italy banks will only use checking accounts to withdraw from at ATM's
I believe the real issue is that generally ATMs in Europe do not give you a choice as to whether you want to withdraw from checking or savings. If you have multiple accounts linked to your ATM account, the money comes from the primary account. For most people, this is a checking account.
I ran across some bank owned ATM machines in Italy that would only work if your withdrawal was from a checking account. Few and far between but there were some. Sheila, just to be on the safe side, open a checking account at Capital One and get an ATM for it. Very simple to do and very easy to transfer funds from one to the other on line or with a their user friendly app. They are also no fee and most likely less restrictive than the money market account.
I have always used Capital One 360 Checking account as my ATM card source of funds. Sorry I can't answer your question. I would suggest, like one of the others did to just open a 360 Checking account with an ATM card and use that.
Thanks everyone! Taking all your answers under advisement!