ATM/Debit Card for purchases (exchange rate)

Does anyone know if using your ATM/Debit card for purchases, provide excellent exchange rates as it does for credit cards??

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I went to England last year and I used my credit card as often as I could for the following reasons:

1) The bank institution will (most likely) give you the official exchange rate without any service fees. This is better than the rate you will get at the exchange booths.

2) Your statement will indicate what you spent, good way to trace how and where you spent your money.

3) Safe - carry just minimum cash with you for a quick lunch or some refreshments. If you get robbed or loose your purse you can simply call your credit card company (remember to bring the customer service number in the country where you are) and cacel the card. Also, a good idea to gring 2 or 3 cards on the trip and keep them in seperate places. I hope this helps.

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YES...and depending on your bank, may not charge the same fixed fees that it will for an ATM cash withdrawal. But be prepared with an alternate card. Occasionally, card readers will not accept ATM/Debit cards for some reason.

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I found that my MBNA master card credit card gave me the best exchange rate (MBNA did not add a surcharage onto the transaction).

From what I have read Master card and Visa have a very low exchange rate (some wholesale rate or something) and they add an additional 1% profit for themselves.

The bank then may add a % as well, my MBNA card doesn%26#39;t but my Chase Visa adds 2% (making a 3% mark up).

I have emailed my ATM/Debit card to see what sort of transaction charges are applied by the bank but they haven%26#39;t responded yet (to two enquiries).

I would contact your credit card bank and your ATM bank and see what their rates are.

Bank America does not charge if you use Barclay ATMs

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Just check my bank on line Returned yesterday. We pulled 60E on Saturday and we were charged by our bank 79.02...So about 1.32 Credit card charge converted at about the same rate - actually 1.30.

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Thanks so much for your responses. As for the Bank of America ATM/Debit card, I checked with them and you don%26#39;t have to pay addt%26#39;l fees using B.N.P. Paribas ATMS. They didn%26#39;t mention Barclays. I%26#39;m so glad I could use my check card (Citibank) now and not have to pay those additional %26quot;conversion fees%26quot; as some call it using credit cards, which is the additional 2-3% on all purchases made. Citibank is good, they don%26#39;t charge additional for purchases. Only the exchange rate, and if you%26#39;re using a non-citibank ATM a fee of $1.50 applies. I heard there are a few Citibanks locations in Paris. YAY!!

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Please pardon my ignorance, I%26#39;m trying to understand this same issue about using a debit/bank ATM card vs. using a regular Visa/Mastercard credit card. So---it is more economical to use a debit/bank ATM card rather than a Visa/Mastercard to pay for purchases while in Europe? If someone could clarify this for me I%26#39;d appreciate it!

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%26gt;%26gt;%26gt;I%26#39;m trying to understand this same issue about using a debit/bank ATM card vs. using a regular Visa/Mastercard credit card. So---it is more economical to use a debit/bank ATM card rather than a Visa/Mastercard to pay for purchases while in Europe? If someone could clarify this for me I%26#39;d appreciate it!%26lt;%26lt;%26lt;

With either an ATM/Debit card or a major credit card, you will get the best %26#39;..interbank..%26#39; exchange rate. What no on here can tell you is dpedinging upon the Terms %26amp; Conditions of your specific bank%26#39;s ATM policies and procedures and the specific major credit card issuing company, what additional fees and charges are applied to each use of either ATM/Debit or credit card. For this, the ONLY reliable source of infornmation will be to contact your local bank and credit card issuer and find out for yourself. As a general rule MOST (but not all) local banks (not the foreign bank) charge a fixed, flat for all ATM cash withdrawals. SOME (but not all banks will process ATM/Debit purchases or goods %26amp; services without any fees. ALL major credit card issuers charge a MINIMUM of 1% transaction for foreign currency purchased of goods %26amp; services and then the individual card issuer may (almost all do) add their own percentage (from 1% to 6%) on top of this. So, you MUST check your own sources.

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I just spoke to Wells Fargo and this is what I was told with regards to using an ATM/debit/check card. If you use your card at an ATM machine the following fees will be incurred:

-fee from European bank you use (KDKsail....I vaguely remember you mentioning that European banks do not charge ATM withdrawal fees...is this true?)

-a $3.00 withdrawal fee from Wells Fargo

-a 2% %26quot;conversion%26quot; fee from Wells Fargo

If you use it for purchases (as a VISA, etc.) you will have the $3.00 fee and the 2% %26quot;conversion%26quot; fee.

Are these ATM charges par for the course from most banks? Or is Wells Fargo ripping us off?

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I have wells fargo too, and would be interested in knowing that too

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We withdrew funds via ATM at a Credit Lyonnais machine and there was no extra fee. In addition, if offered you the option of doing your transaction in English - This was the only ATM we used so I don%26#39;t know if the others are as %26quot;friendly%26quot;.