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hstrybuf
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Posted: Mon May 26th, 2008 12:18 pm | 1st Post |
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Wherever you travel in the world, cold hard cash is your most essential necessity. This is true if you're buying a cup of coffee in Los Angeles, a silk scarf in Istanbul's Grand Bazaar or a bracelet off a street vendor in Hong Kong. That is why the first thing many travelers look for when they step off the plane in a foreign country is an ATM machine.
ATMs usually solve the traveler's dilemma of where to safely and quickly obtain local currency. All cash withdrawals, regardless of size, are exchanged based on the wholesale exchange rate, which is usually a few percentage points better than the rate at a local exchange counter. Plus, these machines are practically everywhere - ATM cards linked to the PLUS or Cirrus networks can be used in more than 135 countries - which makes them the convenient choice of cash-strapped travelers.
Yet some travelers are running into ATMs that, like stingy uncles, refuse to give them money, usually when they try using their debit cards. Recently, debit cards have been the targets of international frauds, prompting banks to block out entire countries where these frauds occur most often. Travelers usually don't even know a block is currently in place until they are standing cashless in front of an ATM, mildly cursing at their debit card that no longer seems to be working.
Countries that have recently been blocked by various banks include England, Thailand, the Philippines, Romania, Greece, Turkey, Singapore and Japan, though different banks utilize different criteria when selecting countries. Also, some banks block PIN-based transactions, while others block signature-based transactions; it all depends on their risk threshold.
Unfortunately for travelers, banks are not required to inform their customers about these bans, for they do not want to tip their hand to the countermeasures they're employing to criminals. Travel agents urge you to call your bank or check out its Web site before you leave to find out if your debit card will work at your destination.
Here are some additional tips from travel agents concerning the use of ATMs when traveling abroad:
Take a variety of payment options, such as credit cards, debit cards, traveler's checks and currency, to be prepared for all circumstances.
Go to a bank if you have problems withdrawing cash from an ATM. Many debit cards can also function as a credit card, which will allow you to get a cash advance (though at a higher interest rate than a normal debit transaction).
Bring your bank's contact information when you travel, just in case your card fails to work like you expect.
If your PIN number is longer than four digits, go to your bank and have it changed. Many ATM's abroad, especially in Europe, do not accept PIN numbers longer than four digits.
If your PIN number is based on letters, translate the letters into numbers before leaving the country. Many ATMs abroad only have numbers on their keypads.
Always have your travel agent's contact information with you. It's good to have an ally back home you can call whenever a problem arises.
With these tips and a little TravelSense, you should be able to freely explore the world without standing in long lines at the bank trying to access your money.
http://www.travelsense.org/tips/atm.cfm
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Deb - Research, research, research!
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Liberty 10/07; Miracle 10/06; Navigator OTS 10/04; Legend 04/04; Grand Princess 09/03; Dawn Princess 01/03; Enchantment OTS 10/02; Destiny 01/02; Sensation 10/99
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Catnip
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Posted: Mon May 26th, 2008 12:42 pm | 2nd Post |
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Very interesting. That would be a major bummer if a family was planning to get local money overseas with a debit card, and then gets there and can't use it.
So many things to try and remember to check on before you leave the states.
And having a 4-digit PIN number is very important!!!
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Cruise Cat
Cruiser
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Posted: Mon May 26th, 2008 01:30 pm | 3rd Post |
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Refer to the attached article for some of the costs (service charges) associated with using each type of card. Use the chart at the bottom of the article to find the best card to use. (this used to be one large chart, now they have made it a smaller functional one). Either way, Capital One still looks like the best card to use overseas.
http://www.bankrate.com/brm/news/pf/travelminiguide/conversion-costs1.asp?caret=16
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Brilliance - 8/21/2008!
Miracle - 2007
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Catnip
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Posted: Mon May 26th, 2008 02:42 pm | 4th Post |
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Question:
I already have an American Airlines Visa card, where I get Frequent Flier miles for every purchase on my Visa card. I already pay an annual fee for this Visa card. (This article says Visa charges 1% for foreign ATM withdrawals).
But if you wanted to get a Capitol One card, which charges 0%, then you would have to pay an annual fee for that card, too. Right? So, to save 1 %, you would be having to make a hefty annual fee.
Am I right, or wrong? Am I understanding this correctly?
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32 previous cruises..
Next up: Last Atlantic crossing on QE 2 10-08/Celebrity Solstice 1-09/Jewel of the Seas 3/09
**Triangles Are For Losers!**
Don't touch that triangle!
Adopt a pet from your local shelter & save a life!
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Cruise Cat
Cruiser
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Posted: Mon May 26th, 2008 03:43 pm | 5th Post |
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I already have a Capital One Credit Card. The fee is $59 per year. I didn't even activate the last card that came because I don't use it (get the FF milage on my Visa) so I almost cancelled it. You're right, the fee kindof negates a lot.
What I was thinking of is opening a bank account with Capital One this Summer and transfering some money into it. Then I can get an ATM card to make withdrawls from my account without penalty and it shileds my real account from scammers. I didn't even know about all these fees until a few months ago when we were figuring out what to do for Euros for our cruise in August.
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Chuck
Brilliance - 8/21/2008!
Miracle - 2007
Conquest - 2006
Rhapsody - 2005
Vision - 2003
Rhapsody - 2002
Inspiration - 2001
Jubilee - 1999
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ADM7
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Posted: Mon May 26th, 2008 04:18 pm | 6th Post |
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Cruise Cat wrote: I didn't even know about all these fees until a few months ago when we were figuring out what to do for Euros for our cruise in August.
I think a lot of people don't know about these fees & restrictions. Thanks to you and Deb for the helpful websites and info!
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balcony_buffs
Cruiser
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Posted: Wed Jun 4th, 2008 01:51 pm | 7th Post |
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Hi,
I recently used an atm card in Puerto Vallerta Mx.
Everything on it was in Spanish (duh)! It dispensed everything in Pesos It even had stuff on it like donating a percentage for conservation. Make sure you know the local language
buffs
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Catnip
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Posted: Wed Jun 4th, 2008 02:16 pm | 8th Post |
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balcony_buffs wrote: Make sure you know the local language
buffs
Great tip! :thumbsup:
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32 previous cruises..
Next up: Last Atlantic crossing on QE 2 10-08/Celebrity Solstice 1-09/Jewel of the Seas 3/09
**Triangles Are For Losers!**
Don't touch that triangle!
Adopt a pet from your local shelter & save a life!
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xpcdoojk
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Posted: Wed Jun 4th, 2008 02:52 pm | 9th Post |
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I have a Capital One credit card Visa that gives me 2 miles for every dollar spent on eating out and travel, and 1 mile for everything else. The miles are not exactly like FF miles on an airline, basically you take your mileage accumulated and divide by 125. For example I used my mileage to pay my deposit on my 11/2009 Transatlantic sailing. 100,000 miles good for an $800 ticket or cruise or whatever.
I do not pay any annual fee for my card.
The big advantage of Capital One is that they do not charge the typical 3% fee for foreign exchange. I tested this a couple of years ago, and compared the transactions made on a Mastercard and the charges on my Cap 1 Visa, and every transaction on the mastercard had a fee that equaled 3% of all charges and the Cap 1 Visa did not.
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TheWog
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Posted: Wed Jun 4th, 2008 05:49 pm | 10th Post |
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| I hate Capital One. Last edited on Wed Jun 4th, 2008 05:49 pm by TheWog
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xpcdoojk
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Posted: Wed Jun 4th, 2008 07:09 pm | 11th Post |
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TheWog wrote: I hate Capital One.
Well, I don't particularly care for them myself, but 3% savings everytime I use it overseas works for me.
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jc<----- Proud member of the O crew
Let's get it right this time!
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shoreguy
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Posted: Wed Jun 4th, 2008 07:36 pm | 12th Post |
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xpcdoojk wrote: I have a Capital One credit card Visa that gives me 2 miles for every dollar spent on eating out and travel, and 1 mile for everything else. The miles are not exactly like FF miles on an airline, basically you take your mileage accumulated and divide by 125. For example I used my mileage to pay my deposit on my 11/2009 Transatlantic sailing. 100,000 miles good for an $800 ticket or cruise or whatever.
I do not pay any annual fee for my card.
The big advantage of Capital One is that they do not charge the typical 3% fee for foreign exchange. I tested this a couple of years ago, and compared the transactions made on a Mastercard and the charges on my Cap 1 Visa, and every transaction on the mastercard had a fee that equaled 3% of all charges and the Cap 1 Visa did not.
I guess I will stay with my BOA NCL card. The 3% fee is offset by the 3% that goes against my next cruise. The minimum $50,000 you needed to spend to get $800 and the 3% waiver would give me at least $1500 off my next cruise.
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