US Credit Card Companies and Foreign Currency Service Fees

bethey · Jun 16th, 2009, 03:54

They are driving me to drink

Anyone know of a credit card company in the US that does NOT charge a fee for using the card overseas???

My "old trusty" card is with Bank of America. Any foreign purchase - 3% immediately added, no waiving of the fee.

My Visa thru my current bank - TD [I think related to TD North in Canada???] - same deal, 3% added blah blah blah...

I use them here for convenience sake - to not be carrying around cash and then pay them off in full at the end of the month. It's a system that works for me. A 3% premium is just, well, annoying. If I have to go with cash, so be it!

Traveldragon · Jun 16th, 2009, 04:23

Check out Capital One, the last time I use it was on Mar 2009 and I didn't get charge oversea transcation fee. Make sure you notify them where you're going to be and the time frame so your transcation will go through smoothly.

angangang · Jun 16th, 2009, 04:23

Hi, Bethey,

Try Capital One's Visa. You can look up all of the attributes on each of their cards online, so check and be sure this is true, but I am fairly certain that it is. I have that card just for that reason, no 2-3% foreign currency conversion fee.

Just to be clear - I do not know of any credit card which does not kill you on fees and interest if you get cash overseas from an ATM. What I am talking about above is the added charge if you buy something or pay for a hotel in rupees or euros or whatever.

I hope this helps.

bethey · Jun 16th, 2009, 04:33

I know for a fact the ATM card I have does work and without additional fees for currency conversion [I called and grilled two separate operators about that plus historical there weren't any. The one operator said that "bank" accounts have different regulations than credit cards and that they can't gouge you for fees - whether or not that is true I don't know].

My bank was recently taken over and used to have an entire campaign about being "fee-less" so my last two trips there were no fees added to anything I charged.

I totally forgot about capital one! Off to their website...thanks!!!

Roxxi Jaan · Jun 16th, 2009, 04:56

USAA Bank

This is one of the few banks I know that did NOT take bailout money. I've been with his bank for many years...I used to be with BOA but got tired of the ridiculous fees. I can use my credit/debit at any ATM in the world and be reimbursed for any fees charged. They send me a check every year on the profit they make. I deposit checks by uploading them on scanners and my money is available INSTANTLY. There is no waiting 3-4 days for checks to clear. They have the BEST customer service I have ever come across.
They used to be only available for Military officers but have opened their services for friends and family of military officers.
If you are interested, I can send you the invite via email. There is no special bonus or money in it for me but I wanted to share with you what a great experience I have had with this bank.
Cheers,
Roxxi

edwardseco · Jun 16th, 2009, 12:02

USAA zindabad, so its now open? I need to get one for my boy..

Vinnyrb · Oct 25th, 2009, 20:44

@ Roxxi Jaan: Hi. I ran across this thread this morning and m going to india in December. Wachovia charges 3% per transaction too. I was wondering if you could extend that email invite to USAA bank to me as well. If you don't mind.

danield · Oct 25th, 2009, 20:55

Best Bank account I ever had-have
USAA Bank

Pardon my ignorance. Does this bank have branches in India? Or is this all on-line/

edwardseco · Oct 26th, 2009, 07:41

I think its all online except possibly in San Anton. USAA is the gold standard for military types (ex brat). The counter is that they let you use anyone else's ATM at no charge. My boy now has such an account..

Roxxi Jaan · Oct 26th, 2009, 08:47

Quote:

Originally Posted by Vinnyrb

@ Roxxi Jaan: Hi. I ran across this thread this morning and m going to india in December. Wachovia charges 3% per transaction too. I was wondering if you could extend that email invite to USAA bank to me as well. If you don't mind.

Vinny, here is the link. If you want an official email invite, please send me an email at: globallotus@yahoo.com and I will forward it to you. I now have my checking, savings, insurance, and credit card. It truly is the one-stop-shop place with amazing rates and service. Good luck!

USAA

danield · Oct 26th, 2009, 08:59

Quote:

Originally Posted by edwardseco

I think its all online except possibly in San Anton. USAA is the gold standard for military types (ex brat). The counter is that they let you use anyone else's ATM at no charge. My boy now has such an account..

Can this used be used in India. Make deposits here and withdraw in India?

kmalik · Oct 26th, 2009, 09:17

As far as credit cards go, there are several that do not charge the foreign transaction fees. The list includes Capital One, Schwab Bank, PenFed and others.

USAA is indeed a nice bank. I have had them since early 90s - and do all my banking remotely. In this day of ridiculous banking fees, I think USAA seems rather good choice. You can, of course, use any bank card to withdraw money in India or elsewhere. You should be aware that while US ATM transactions are free (up to 10 per month) and even ATM fees incurred in the US are reimbursed up to $1.50 by USAA, the international ATM transactions are not free. I do not remember the charge, but know there is one.

If you were going for a long time, you might want to look for a bank which has branches in both countries.

Roxxi Jaan · Oct 26th, 2009, 23:14

USAA does not charge a fee for the first 10 ATM withdrawals and and refunds ATM fees at any ATM worldwide — up to $15 per month. Just plan your withdrawals accordingly depending on your length of stay and you should be ok.

Vinnyrb · Oct 29th, 2009, 00:21

Thanks Roxxi!

Jun 16th, 2009, 03:54	#1
bethey Senior Member Join Date: Nov 2007 Location: Delhi/VA Posts: 124	US Credit Card Companies and Foreign Currency Service Fees They are driving me to drink Anyone know of a credit card company in the US that does NOT charge a fee for using the card overseas??? My "old trusty" card is with Bank of America. Any foreign purchase - 3% immediately added, no waiving of the fee. My Visa thru my current bank - TD [I think related to TD North in Canada???] - same deal, 3% added blah blah blah... I use them here for convenience sake - to not be carrying around cash and then pay them off in full at the end of the month. It's a system that works for me. A 3% premium is just, well, annoying. If I have to go with cash, so be it!

Jun 16th, 2009, 04:23	#3
angangang Member Join Date: Aug 2008 Location: USA Posts: 40	Capital One Hi, Bethey, Try Capital One's Visa. You can look up all of the attributes on each of their cards online, so check and be sure this is true, but I am fairly certain that it is. I have that card just for that reason, no 2-3% foreign currency conversion fee. Just to be clear - I do not know of any credit card which does not kill you on fees and interest if you get cash overseas from an ATM. What I am talking about above is the added charge if you buy something or pay for a hotel in rupees or euros or whatever. I hope this helps.

Jun 16th, 2009, 04:56	#5
Roxxi Jaan India Mike addict Join Date: May 2009 Location: Santa Fe / Taos, New Mexico, USA Posts: 61	Best Bank account I ever had-have USAA Bank This is one of the few banks I know that did NOT take bailout money. I've been with his bank for many years...I used to be with BOA but got tired of the ridiculous fees. I can use my credit/debit at any ATM in the world and be reimbursed for any fees charged. They send me a check every year on the profit they make. I deposit checks by uploading them on scanners and my money is available INSTANTLY. There is no waiting 3-4 days for checks to clear. They have the BEST customer service I have ever come across. They used to be only available for Military officers but have opened their services for friends and family of military officers. If you are interested, I can send you the invite via email. There is no special bonus or money in it for me but I wanted to share with you what a great experience I have had with this bank. Cheers, Roxxi __________________ aho mitakuye oyasin...all my relations

Oct 25th, 2009, 20:55	#8
danield Member Join Date: Oct 2009 Location: Fannettsburg, PA Posts: 93	How about India Best Bank account I ever had-have USAA Bank Pardon my ignorance. Does this bank have branches in India? Or is this all on-line/ __________________ Stuck on India

Oct 26th, 2009, 23:14	#13
Roxxi Jaan India Mike addict Join Date: May 2009 Location: Santa Fe / Taos, New Mexico, USA Posts: 61	USAA ATM refunds USAA does not charge a fee for the first 10 ATM withdrawals and and refunds ATM fees at any ATM worldwide — up to $15 per month. Just plan your withdrawals accordingly depending on your length of stay and you should be ok.

Jun 16th, 2009, 04:23	#2
Traveldragon Member Join Date: May 2009 Location: California, USA Posts: 1	Check out Capital One, the last time I use it was on Mar 2009 and I didn't get charge oversea transcation fee. Make sure you notify them where you're going to be and the time frame so your transcation will go through smoothly.

Jun 16th, 2009, 04:33	#4
bethey Senior Member Join Date: Nov 2007 Location: Delhi/VA Posts: 124	I know for a fact the ATM card I have does work and without additional fees for currency conversion [I called and grilled two separate operators about that plus historical there weren't any. The one operator said that "bank" accounts have different regulations than credit cards and that they can't gouge you for fees - whether or not that is true I don't know]. My bank was recently taken over and used to have an entire campaign about being "fee-less" so my last two trips there were no fees added to anything I charged. I totally forgot about capital one! Off to their website...thanks!!!

Jun 16th, 2009, 12:02	#6
edwardseco Maha Guru Member Join Date: Sep 2001 Location: Land that shakes and bakes. Posts: 5,844	USAA zindabad, so its now open? I need to get one for my boy..

Oct 25th, 2009, 20:44	#7
Vinnyrb Member Join Date: Oct 2009 Location: Denver, CO Posts: 13	@ Roxxi Jaan: Hi. I ran across this thread this morning and m going to india in December. Wachovia charges 3% per transaction too. I was wondering if you could extend that email invite to USAA bank to me as well. If you don't mind.

Oct 26th, 2009, 07:41	#9
edwardseco Maha Guru Member Join Date: Sep 2001 Location: Land that shakes and bakes. Posts: 5,844	I think its all online except possibly in San Anton. USAA is the gold standard for military types (ex brat). The counter is that they let you use anyone else's ATM at no charge. My boy now has such an account..

Oct 26th, 2009, 09:17	#12
kmalik Maha Guru Member Join Date: Dec 2006 Location: Ohio Posts: 674	As far as credit cards go, there are several that do not charge the foreign transaction fees. The list includes Capital One, Schwab Bank, PenFed and others. USAA is indeed a nice bank. I have had them since early 90s - and do all my banking remotely. In this day of ridiculous banking fees, I think USAA seems rather good choice. You can, of course, use any bank card to withdraw money in India or elsewhere. You should be aware that while US ATM transactions are free (up to 10 per month) and even ATM fees incurred in the US are reimbursed up to $1.50 by USAA, the international ATM transactions are not free. I do not remember the charge, but know there is one. If you were going for a long time, you might want to look for a bank which has branches in both countries.

Oct 29th, 2009, 00:21	#14
Vinnyrb Member Join Date: Oct 2009 Location: Denver, CO Posts: 13	Thanks Roxxi!

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