Credit/Debit card usage in Europe

[NMLady]

I know this is really old fashioned but we still travel with travelers checks. My husband worked for the bank and they give them to us at no charge. We only use them on the ship. When we are running low on money, we go to the front desk and get them cashed at our leisure. None of our sightseeing time is taken looking for an ATM. Just deposit the extra checks, if there are any, back in our account when we return home.

 

We do that too for US $$ but to get Euros the ship doesn't give the best exchange rate. Also IIRC they have a fee as well to give Euros.

Edited September 20, 2015 by NMLady

[jtl513]

Also IIRC they have a fee as well to give Euros.

If you trade $US for Euro there is just the exchange rate premium. If you must first draw $US against your on-board account there is a 3% fee for that.

[kazu]

We do that too for US $$ but to get Euros the ship doesn't give the best exchange rate. Also IIRC they have a fee as well to give Euros.

 

the poster you are quoting is using travellers cheques - there is no fee to give euros in return - as long as they are U.S. $

 

The exchange rate is not good but they are covering their you know whats as they are waiting until later to exchange them back. For a lot of $ it's better to use an ABM or bring it with you, but if it's only a few euros at the end, it's not the end of the world. The killer is cashing them in - don't do it - bring them home and either save them for your next trip or cash them in at your bank. A BIG difference.

[TAD2005]

Most places tourists go, there are plenty of ATMs. I've used them all over Europe, Asia, North Africa -- I've never spent any more time looking for one than the amount of time it takes to buy a postcard or make a bathroom stop.

 

Outside of the ship, there are very few places now that will accept traveler's checks, even banks.

You are so right. Very few, if any places will accept traveler's checks due to the fact it is so easy to counterfeit them. Yes, you can use them on the ship because they have your credit card, and they know where you live, so their exposure to loss is minimized. However, a hotel, a foreign bank, forget it. They will want to hold the check for many days until it clears before they will give you any cash. It's a real shame, but due to the amount of crime and unethical people in the world, travelers checks are useless.

[gigmom23]

My Capital One Quicksilver Card has no foreign Transaction fee.. In addition it rebates me 1.5% in points or cash...

 

DH also has a separate Capital One Platinum card with No Foreign Transaction Fee.. His rebate is only 1% but his card has his picture on it...Wish my new Quicksilver card had my picture on it, as think it's actually safer..

 

We each have our own Capital One Accounts with different account Numbers which we use primarily for travel.. Reason for two accounts is, if one is compromised we can use the other one.. We requested a very low limit on for both our Capital One cards..

 

In addition, we both have two other joint cards with higher limits, which we use at home.. We try to charge as much as possible & pay all our credit card bills in full every month.. We take those other two cards on vacation but they remain in the ship safe, and will only be used in an emergency

 

We try not to carry a lot of cash on our trips

 

You can change the image on your Capital One Quicksilver Card. Go to your account online, click on 'Services', then 'Change Image on Card' - it walks you through the steps. You can upload a photo of yourself if you want that on your card.

[FloridaTourist]

You can change the image on your Capital One Quicksilver Card. Go to your account online, click on 'Services', then 'Change Image on Card' - it walks you through the steps. You can upload a photo of yourself if you want that on your card.

 

 

Yes that works unless you have a chip. It won't work for my venture chipped card.

[FloridaTourist]

I take that back. They have updated the site. Just ordered a new card win a picture!!!

[serendipity1499]

You can change the image on your Capital One Quicksilver Card. Go to your account online, click on 'Services', then 'Change Image on Card' - it walks you through the steps. You can upload a photo of yourself if you want that on your card.

 

Did not know that.. Used to have my picture on my old Cap. One card but when I changed to quicksilver to get the additional 1/2 % in points, I asked the Rep & was told the picture was not avail... Will go on=line & check it out..

Thanks so much for the info..

[Bowie MeMe]

I know this is really old fashioned but we still travel with travelers checks. My husband worked for the bank and they give them to us at no charge. We only use them on the ship. When we are running low on money, we go to the front desk and get them cashed at our leisure. None of our sightseeing time is taken looking for an ATM. Just deposit the extra checks, if there are any, back in our account when we return home.

 

I have had them refused in major stores in USA and even in the bank one of the more senior bankers had to show the younger one how to use them! (and this was at least 10 years ago. Other than on ships I do not think they would be taken because of the high merchant cost to accept them. (and a trip to the bank to handle the transaction). Haven't used in at least 10 years.

[Bowie MeMe]

Just returned from a trip through eastern US with 3 brand new credit cards that have the chip and signature feature. We had a couple of problems. At 2 different gas stations with 2 different cards (mine and hubby's) they got stuck in the card reader at the pump. Had to use pliers to pull it out:eek: The gas attendant in the store said it had been happening! Card too thick to enter the slide. Then tonight at the Olive Garden a different chip enabled card would not read on the machine though it had worked several times that day. Anybody else have trouble with this? Are cards different in Europe or are the machines different?

 

Oh on a slightly different theme -- we closed two accounts with Chase Sapphire and needed to destroy the credit card --account closed. The stainless steel or whatever metal card could not be cut/bent/destroyed/number rubbed out etc. Honestly the only thing that dented it was a severe blow with hammer but it did not destroy it. I hate to have a credit card hanging around that can't be destroyed. Ideas of what to do? (Turn into the bank?)

[POA1]

Oh on a slightly different theme -- we closed two accounts with Chase Sapphire and needed to destroy the credit card --account closed. The stainless steel or whatever metal card could not be cut/bent/destroyed/number rubbed out etc. Honestly the only thing that dented it was a severe blow with hammer but it did not destroy it. I hate to have a credit card hanging around that can't be destroyed. Ideas of what to do? (Turn into the bank?)

 

We have Chase Marriott Black Cards that are metal. When we received the replacement cards, which had the chip, Chase sent us an envelope to return the cards for destruction. A strong magnet to the strip and a hole drilled through the chip would do the trick. You could also use a blow torch... or sulphuric acid. A bench grinder would work, too. If you have a metal melting pot because you make your own fishing lures, or ammunition, you could just melt the card. Of course if you make your own ammo, you might want to tape the card to a target and "deactivate it" with a few well-placed rounds.

 

(My guess is that Chase sent me the return envelope because they had no faith in my ability to destroy creatively.)

[take us away]

Recommend that you do NOT use debit cards in foreign ATMs and only use a credit card if you need cash. The debit card will give access to all your accounts while a credit card will limit the access to only that card's account. You can also exchange cash for euros at the front desk for a small fee and cash your traveler's checks without a charge.

[kazu]

Recommend that you do NOT use debit cards in foreign ATMs and only use a credit card if you need cash. The debit card will give access to all your accounts while a credit card will limit the access to only that card's account. You can also exchange cash for euros at the front desk for a small fee and cash your traveler's checks without a charge.

 

 

must work differently in the U.S. perhaps? If I use my credit card that results in a cash advance which is a very expensive way to get money.

 

If I use my debit card I access my bank account. Many ABM's in Europe (at least the ones I have used) will only allow you to access your chequing account. My bank guarantees my ABM activity as long as I have taken the standard precautions, so we use our debit card and have never had a problem.

 

All our debit and credit cards are chip and pin enabled as that has been around here in Canada for a while;)

[tooalto]

Recommend that you do NOT use debit cards in foreign ATMs and only use a credit card if you need cash. The debit card will give access to all your accounts while a credit card will limit the access to only that card's account. You can also exchange cash for euros at the front desk for a small fee and cash your traveler's checks without a charge.

 

We set up a CapitalOne money market account (recommended by several here on CC) which has a debit card for ATM use only, no credit card logo. We have used it all over the Med with no issues. Also there are no transaction fees which makes it both easy to use and economical. We just use our credit cards for purchases.

[cruisemom42]

Recommend that you do NOT use debit cards in foreign ATMs and only use a credit card if you need cash. The debit card will give access to all your accounts while a credit card will limit the access to only that card's account. You can also exchange cash for euros at the front desk for a small fee and cash your traveler's checks without a charge.

 

This is certainly NOT true across the board. Regarding access to all your accounts, it depends on how your account is set up. Accounts do not have to be linked. Mine are not. I (or anyone who tried to use my card) could only access my checking account, not any other accounts at that bank...

 

Also, as Kazu rightly points out, using your credit card to get money is considered a cash advance and is subject to a much higher interest rate (just read your credit card terms.....) starting from the moment of withdrawal.

 

In recent years I have set up a special account just for travel via Capital One with no fees (as already stated upstream) and no links to any other account. I have used it -- and before that, my regular ATM debit card -- during numerous ex-US trips and never had any problems yet. (Knock wood.)

[Hlitner]

Recommend that you do NOT use debit cards in foreign ATMs and only use a credit card if you need cash. The debit card will give access to all your accounts while a credit card will limit the access to only that card's account. You can also exchange cash for euros at the front desk for a small fee and cash your traveler's checks without a charge.

 

Sorry but must strongly disagree! And here is why. If you use a credit card (MC or Visa) in an ATM machine, and assuming you have a PIN number that allows this use, your withdrawal is treated as a "cash advance" by your credit card company. "Cash Advances" are treated somewhat harshly by most credit card issuers and they impose interest from date of withdrawal and sometimes add an additional fee. While some folks get around this by leaving a cash balance in their credit card account, there are many credit card issuers who do not allow this practice. In fact, one of our banks will actually send us a check if we happen to overpay or leave a balance in our account.

 

As to Debit cards giving access to "all accounts" if this is a concern one can simply set up your accounts to limit the debit card access to a single account (just ask your issuing financial institution). Many frequent travelers will actually set-up a separate Debit Card account into which they can transfer funds (as needed) during long trips. Since we maintain ATM accounts at 3 different financial institutions (duel backups plus the ability to get larger amounts of cash per day) we have simply set-up the ability to easily transfer (this can be done online) money between the banks.

 

As to Travelers Checks, they are fine if you happen to be on a cruise, but near worthless once you leave the ship. So while your plan is OK for those who are simply taking a cruise, it is not very practical for the many cruisers who might choose to spend days, weeks, or even months in Europe (or Asia) per or post cruise. It can be a shocker to find one's self in a European city with only Travelers Checks...and find that merchants will not accept the things (many younger clerks do not even know what they are!).

 

Hank

[catl331]

... exchange cash for euros at the front desk for a small fee

There is no fee except for the poor exchange rate ... unless that has changed in the last 2 years.

[dakrewser]

Recommend that you do NOT use debit cards in foreign ATMs and only use a credit card if you need cash. The debit card will give access to all your accounts while a credit card will limit the access to only that card's account. You can also exchange cash for euros at the front desk for a small fee and cash your traveler's checks without a charge.

 

And what are you basing this on? An ATM card gives access to the account it is tied to - no others. Nor are "foreign" (what does that even mean on a chat board with international participation?) ATMs any less secure than domestic ones.

 

I will say that pickpockets appear more prevalent in Europe than in North America, but that's a different security risk.

[iancal]

Today I withdrew 600 euros from a Nationsl Bank of Greece ATM.. No issue whatsoever. We use pin cards only.. Last year in Italy some bank ATMs would only allow us to withdraw a max of 300 euros.

 

A note of caution. We are noticing a lot more ATMs that have names like banks, ie Eurocash ATM instead of Eurobank ATM, but are in reality no attached to the bank. Do not use these machines. Besides a very uncompetitive exchange rate they apparently charge a ridiculous admin charge on top. Always use a bank or a post office ATM, pfereably one that is inside the branch and during daytime hours.

 

Also, many banks, and just about all in Canada, have a hidden 2.5-3 percent commission added to the exchange rate. This can be avoided by selecting the 'right' card/bank. You most likely have far better bank service charges in the U.S. than we poor Canadians who seem to like getting ripped off by banks.

Edited September 21, 2015 by iancal

[Lizzie68]

Recommend that you do NOT use debit cards in foreign ATMs and only use a credit card if you need cash. The debit card will give access to all your accounts while a credit card will limit the access to only that card's account. You can also exchange cash for euros at the front desk for a small fee and cash your traveler's checks without a charge.

 

Nooo!!! Bad advice. Your debit card is as safe as any credit card, with less of charge attached to it for getting a cash advance. As I said earlier, use an ATM attached to a bank, and also do some research to find a bank affiliated with your own bank for less charges again. Never, ever use the credit card to get cash.:eek:

[3rdGenCunarder]

Nooo!!! Bad advice. Your debit card is as safe as any credit card, with less of charge attached to it for getting a cash advance. As I said earlier, use an ATM attached to a bank, and also do some research to find a bank affiliated with your own bank for less charges again. Never, ever use the credit card to get cash.:eek:

 

Cash advance on a credit card would be our last resort. It's a small interest rate, but it starts immediately and compounds daily, which really adds up!

 

We use our ATM card. Our bank is Bank of America, and they have a list of "preferred" banks in other countries where the out-of-network fee is waived. OK, call it type A or obsessive-compulsive, but part of my travel planning is looking for locations of the "preferred" banks in the cities we're going to. And we always leave home with some "destination" cash so that finding an ATM is not our first priority upon arrival.

 

One of my favorite travel sounds is the fft-fft-fft sound of an ATM counting out money!

[iancal]

We use a Chase Bank Canada Visa card. We load it up with a credit prior to leaving and then take advances. No interest charge since we have a positive cash balance on the card.

 

If we withdrew 600e from our RBC or CIBC accounts in Canada we would pay a hidden commission of approx. $25 and an ATM fee of $5, ie total $30. Doing it on the Chase Bank Canada card results in a one percent charge... $9. The incremental $21 that our banks would charge to withdraw our own money is nothing short of scandalous. Same for most Visa purchase transactions in Canada.

Edited September 21, 2015 by iancal

[Lizzie68]

We use a Chase Bank Canada Visa card. We load it up with a credit prior to leaving and then take advances. No interest charge since we have a positive cash balance on the card.

 

If we withdrew 600e from our RBC or CIBC accounts in Canada we would pay a hidden commission of approx. $25 and an ATM fee of $5, ie total $30. Doing it on the Chase Bank Canada card results in a one percent charge... $9. The incremental $21 that our banks would charge to withdraw our own money is nothing short of scandalous. Same for most Visa purchase transactions in Canada.

 

Ouch. My bank card ATM fee.is usually.around $3 plus of course the current exchange rate. I use BMO debit card and find the I affiliate in Europe. I think it is Barclay's in the UK

[Bowie MeMe]

Cash advance on a credit card would be our last resort. It's a small interest rate, but it starts immediately and compounds daily, which really adds up!

 

We use our ATM card. Our bank is Bank of America, and they have a list of "preferred" banks in other countries where the out-of-network fee is waived. OK, call it type A or obsessive-compulsive, but part of my travel planning is looking for locations of the "preferred" banks in the cities we're going to. And we always leave home with some "destination" cash so that finding an ATM is not our first priority upon arrival.

 

One of my favorite travel sounds is the fft-fft-fft sound of an ATM counting out money!

 

We also check for banks ATM availability in other countries. There are more than one system administrating ATMs so we have cards from different systems. Star Plus and Interlink Cirrus is on another Debit MasterCard on another. Visa and MasterCharge have lists of banks by country on-line.

 

CREDIT CARD ADVANCE (CASH FROM CREDIT CARD) IS YOUR LAST RESORT!

That cash starts interest rate on EVERY ITEM on the credit card NOT JUST THE ADVANCE and there is NO Grace period on any purchase. It can go to whatever the interest rate is for your card. Credit cards paid off every month you might not realize how big the cost is to get a cash advance. Be sure to notify the bank for EVERY credit card and debit card. Ask the current foreign transaction fee and all other fees ($3.00 for ATM use per use is on one card). Carry a list of out of country phone numbers to notify if :eek: card is lost. No card No phone number. Leave a list of these account numbers and phone numbers with a trusted person at home in case of loss they can make the calls to cancel the card. (we have a sealed envelope with all important numbers on file with daughters in case of emergency they have the numbers and passwords etc. Security only keeps you and yours out of the account!:rolleyes:

Edited September 21, 2015 by Bowie MeMe

[iancal]

Lizxie68... Next time you do an ATM withdrawal in foreign currency go back and compare the BMO's exchange rate with the daily spot rate. If you are getting the spot rate that is good.

 

At least four Canadian banks that I know of, mine included do not mention their increased rate. They simply exchange at 2.5-3 percent higher than the spot rate. They do the same with Visa purchases. A number of web sites show the hourly rate as well as the average daily rate. The only charge I see on my bank statement would be the $5 ATM fee. The other $25 or so would be 'hidden' in the inflated exchange rate.

Edited September 21, 2015 by iancal