Thanks to some good advise on this site, we have taken out an account with Charles Schwab so we can access ATMS at little or no cost. My next question is that we will be paying for our rooms in Rome with Cash. Are there limits to how much you can withdraw from the ATM's ???? We figure we will need about 800 Euro's for the stay. Thanks
Also confirm weather your bank limit is per card, or per account. I recently found out that our Fidelity ATM card has a limit of $510 per day per Account, but Captital One was $610 per CARD.
Well I am sitting in Rome & so far this week the most I have been able to get out of an ATM is 250 euro, significantly below my withdrawal limit. If anyone knows a bank in Rome with reliable higher limits would love to give them a try, and reduce my bank fees.
Although it's true that you set your daily withdrawal limit with your bank, individual ATMs will have their own per transaction limit. It can be difficult to figure out what that limit is because if you request more money than the limit, the machine just says no. If that happens, try again and request a smaller amount. This will also happen as you approach your daily limit. You might have to hit a couple of ATMs to get the total you need. For that reason, some people choose to take enough euros with them for their initial lodging.
There are two type of limits - your card issuer will set a limit for the max withdraw in a 24 hour period. That 24 hr period is based on your home time. Check with your card issuer for that limit. The second withdraw limit can be a limit on a single transaction at the ATM. It is not uncommon in high tourist areas with an ATM that is will frequently used, especially on weekends, to find a 250/300 Euro limit per withdraw. If you need more, then do two transactions at the same ATM or go to another. Sometimes if you request more than the ATM limit you will get a message indication that the request is denied, not working, or something to that effect but doesn't tell you that you asked for too much. Try again with a lower amount. We tend to use ATMs attached to banks during banking hour and generally find that those ATMs either have higher limits or no limits. A third approach is to carry two debit cards tied to two different accounts and hit both of them equally hard. Having a second debit card account makes good sense just in case of problems with the first account. We actually have three but have never gone to the back up. During the first couple of days, I will test all three to make they are working. As an old engineer I like back up to back up.
Call Schwab, ask for a higher daily limit. Lower the daily limit after the trip for your protection.
Thank you so much...this is exactly what I wanted to know!!