Debit cards in Europe

[paulred]

In Canada the common network for debit cards is Interac. My bank also belongs to the Maestro network.

 

They just informed me that my debit card will work in European shops where the merchant is also on the Maestro network. They charge $5 for a cash withdrawal at a European ATM, but only 50 cents for a purchase debit.

 

My bank also informs me they do the conversion directly from the local currency to Cdn $. In some cases, non US credit card companies convert local European currencies to $US to facilitate the exchange and then into you local currency to charge your account. This involves two currency exhange losses.

 

To me this suggests a strategy of using the debit card where possible for transactions over 50 euros and cash for under. this would mean fewer ATM withdrawals.

 

You may want to check with your bank and credit card issuers to plot the best course for paying your way in Europe.

 

perhaps some of you who have been there recently can comment

 

cheers

 

Paul

[Porthopper2008]

I grew in France and travel to Europe quite often. The only US credit card that doesn't charge a fee is Capital One Visa. The fee is usually 1% of the charge and maybe a conversion fee too. If you have a green or gold American Express card, you can cash your personal check for $1,000 per day up to $ 10,000 per month at any American Express office.

Happy travelling :) .

M

[sneffles]

I grew in France and travel to Europe quite often. The only US credit card that doesn't charge a fee is Capital One Visa. The fee is usually 1% of the charge and maybe a conversion fee too. If you have a green or gold American Express card, you can cash your personal check for $1,000 per day up to $ 10,000 per month at any American Express office.

 

Happy travelling :) .

 

M

 

I have two cards that do not charge a fee, one from a local bank and the other a USAA card. They both credit your account for ATM fees. We've used them in various countries and they work just fine.

[Nunu]

I would double check on if a canadian debit card will work overseas in anything other than an atm. They don't even work for purchases in retail stores in the states as they are not associated with visa or m/c the way american debit cards are (there are no logos on canadian debit cards other than the bank name). I have never been able to use them outside of canada except at bank machines.

[LHT28]

In Canada the common network for debit cards is Interac. My bank also belongs to the Maestro network.

 

They just informed me that my debit card will work in European shops where the merchant is also on the Maestro network. They charge $5 for a cash withdrawal at a European ATM, but only 50 cents for a purchase debit.

Paul

 

What bank card do you use?

I agree with NUNU they do not work at POS terminals in the USA the only one that might is TD.

 

I have only used mine at the ATM's in Europe so will be interested.

 

Lyn

[Nunu]

What bank card do you use?

I agree with NUNU they do not work at POS terminals in the USA the only one that might is TD.

 

I have only used mine at the ATM's in Europe so will be interested.

 

Lyn

 

It's a common misconception that an atm card is an atm card but there is a world of difference between an american and canadian one. I've never understood why we (canada) haven't adopted the way the american card works (visa, m/c affiliation). I'm sure it has to do with the big banks making record profits every year.

[LHT28]

I've never understood why we (canada) haven't adopted the way the american card works (visa, m/c affiliation). I'm sure it has to do with the big banks making record profits every year.

 

I am not sure how the USA ones work....I know TD has a debit card that you can use in certain stores in the USA at POS terminals but have not checked into it further.

Maybe someday we will have the same options.

[Nunu]

I am not sure how the USA ones work....I know TD has a debit card that you can use in certain stores in the USA at POS terminals but have not checked into it further.

Maybe someday we will have the same options.

The american ones have a visa or mastercard logo on them so even though the funds come out of your checking account it can still be used wherever credit cards are accepted. I think thats how it works anyway and I wish ours were like that.

[LHT28]

The american ones have a visa or mastercard logo on them so even though the funds come out of your checking account it can still be used wherever credit cards are accepted. I think thats how it works anyway and I wish ours were like that.

I found that RBC debit card can be use at some POS terminals in the U.S.

http://www.rbcroyalbank.com/products/deposits/cross-border-debit.html

https://www.tdcanadatrust.com/fx/trip.jsp#debit

 

Maybe other parts of the world will soon join the list for us

[Nunu]

I found that RBC debit card can be use at some POS terminals in the U.S.

http://www.rbcroyalbank.com/products/deposits/cross-border-debit.html

https://www.tdcanadatrust.com/fx/trip.jsp#debit

 

Maybe other parts of the world will soon join the list for us

that's on the right path at least. thanks for the info!