Debit Cards in Europe

[timgram]

I don't mean to sound like I just crawled out from under a rock, but if I use a debit card for expenses in Italy will I get charged a foreign transaction fee like I do when I use a credit card?

[JimandStan]

I don't mean to sound like I just crawled out from under a rock, but if I use a debit card for expenses in Italy will I get charged a foreign transaction fee like I do when I use a credit card?

 

I would think that you would have to ask the issuing Bank that question. Not all debit cards are created equal.

[denton1]

I don't mean to sound like I just crawled out from under a rock, but if I use a debit card for expenses in Italy will I get charged a foreign transaction fee like I do when I use a credit card?

 

Only use your debit card to get cash from an ATM. Use a credit card for other transactions. It is much safer this way If you get a Capital One credit card, no foreign exchange fee is added to the cost. You are only charged at whatever the rate is at that time. Whatever you use, make sure your bank and credit card companies know what dates you will be overseas and what countries you plan to visit. A friend of ours didn't inform his bank of all of the countries on our tour last year. This made getting cash from an ATM exceedingly difficult.

[YoHoHo]

That is good advice. Just the same as with credit cards the fees and conditions will vary. For example, I do not get charged a foreign transaction fee on my credit card but I gather from your post that your credit card does charge such a fee. There's been much discussion on that topic on this board and in the end there are many different cards for different folks so I think JimandStan's advice is the best suggestion for the definitive answer.

[Hunding]

Check with your bank about debit card use, as everybody has said. BofA, for instance, has reciprocal agreements with various banks around the world, and there are no fees of any kind when I use it to get cash. Likewise, a number of banks charge nothing for foreign purchases with their credit cards - Capital One, as has been noted; the Chase Hyatt Visa card; and at least one Citi card that I know of. There must be others.

[hondorner]

There are a few debit cards that not only do not charge any foreign transaction fees, they will also refund any ATM fees thqat might be incurred. I personally use a Schwab debit card, tied to my Schwab checking account, and they refund any ATM fees I incur anywhere in the world, but there are others.