Visa vs American Express for Vancouver ATMs?

[hooked-on-travel]

I'll start by explaining that I'm an American and our cruise to Hawaii ends up in Vancouver. We're staying in Vancouver for a few days after the cruise to look around, do touristy things. I'm doing my homework and it seems like the cheapest way I can pay for things in Canadian money is by getting a debit card and getting cash out of ATMs. I've found two debit cards to choose from such that the only thing I would pay is any foreign bank's ATM charge over $3.00. There isn't a currency conversion charge or that bank's ATM charge. They rebate the other bank's ATM charges up to $3. My choices are between a card with a Visa logo or a card with an American Express logo. Keep in mind I have a Visa credit card, so I'm looking for this to be a debit card only. As a debit card, neither will charge a cash advance fee.

 

So, my question for you Vancouver residents is: Which is easier to find, a bank ATM that accepts debit cards with a Visa logo or a bank ATM that accepts debit cards with an American Express logo? Or are they equally easy to find?

 

Thanks in advance for your help!

[Putterdude]

I haven't bothered to have a Amex. card for more than 20 years and truely never have bothered to look at ATM's re their acceptance. However I can tell you that Visa is almost universally accepted in Canadian ATM's so long as the card is issued by a financial institution that is a member of the "Interac" or "Plus" network but that would apply equally to Amex if they are subscribers. If you have any CDN funds left at the end of your visit you can exhange them at the bank or currency exchange at the airport in Vancouver.

[shipty2]

As far as I know American Express Canada does not issue debit cards and I have only seen one ATM displaying this symbol which was at the airport so I would go with VISA.

[yittles&boone]

im not sure where your located but if there is a Commerce Bank "America's most convienient bank" in your area, i might try them... for a few reasons..

 

1. they refund all atm bank fee's if your avg. daily bal is $2500 or more

2. they dont charge for using another banks atm, you only pay the atm charge that the atm you are using charges... if you keep less then $2500

3. Commerce just closed on a merger with TD Banknorth and starting yesterday, 4/10/08, any commerce bank customer can use TD Banknorths ATM's free of charge.. TD by the way the way is a huge bank in Canada...

 

hope this helps...

[cruiseryyc]

I would hesitate to go with the American Express one as AmEx is not as widely used in Canada.

[hooked-on-travel]

I was afraid the Amex was a bad idea if their logo wasn't seen very far and wide. This is just the kind of confirmation I was looking for.

 

As for the Commerce Bank suggestion $2500 is a lot of money for me. I'm only opening this account to have a least expensive way for me get foreign currency...not to have another bank account. I don't really have $2500 to park there for the two weeks of my trip. So if I don't, then I'm going to pay the foreign bank's atm fees, which is an offer I could get any number of places (like USAA, UBS,...) What has my interest is any bank that can get me free (and reimbursed) ATM use and no percent or flat fee "foreign currency conversion" fee. That's not so easy to find.

[Putterdude]

I was afraid the Amex was a bad idea if their logo wasn't seen very far and wide. This is just the kind of confirmation I was looking for.

 

As for the Commerce Bank suggestion $2500 is a lot of money for me. I'm only opening this account to have a least expensive way for me get foreign currency...not to have another bank account. I don't really have $2500 to park there for the two weeks of my trip. So if I don't, then I'm going to pay the foreign bank's atm fees, which is an offer I could get any number of places (like USAA, UBS,...) What has my interest is any bank that can get me free (and reimbursed) ATM use and no percent or flat fee "foreign currency conversion" fee. That's not so easy to find.

 

I am not going to be able to help you much with that one because of all your banks in the US. However one thing I would caution you about is that as a part time resident of the US, I bank with BofA and have and Alaska Airlines credit card that is underwritten by BofA they are terrible about service charges if I inadvertantly us my BofA card in Canada. They wack me $2.50 to $3.00 over and above the userous rate of exhange. So you may want to talk to whose ever's card you use about that.

[scottbee]

TD by the way the way is a huge bank in Canada...

 

TD (Toronto Dominion) is a Canadian Bank.

 

They just use their initials "TD" to hide their 'Canadian-ness' to Americans. They've been busy buying up all sorts of US entities like Waterhouse and Ameritrade. There's not much funnier to a Canadian than watching the (US) TD Ameritrade ad where they're saying how America was built on the back of people trying to get ahead, and showing image after image of Americana, and then calling themselves TDAmeritrade.

 

BMO (Bank of Montreal) and RBC (Royal Bank of Canada) do exactly the same thing.

[yittles&boone]

i work for commerce bank, and we just celebrated our merge with TDbanknorth.... im excited i guess... mostly because now i can use the ATM's at TD for free on my next cruise to Canada... lol...

[hooked-on-travel]

Around here (Kansas City) Commerce Bank confuses a lot of people b/c you have to know WHICH Commerce Bank your money is at. The Commerce Bank in the Kansas City metro is NOT the same bank as Commerce Bank in Topeka (capitol of KS, just one hour west). A lot of people just skip them entirely so as not to make a mistake. That may change since the Topeka Commerce Bank just changed their name so they could expand into the KC metro area. But either way, when I saw your suggestion I thought, hmm...I don't know if KC's Commerce Bank = NY's Commerce Bank ...better skip it.

[Ephraim]

There are very few ATMs that will accept the Amex Card. I think the BMO will. But clarify with Amex Canada. Also, Canadians cannot use the American Express Charge Card to withdraw from ATMs, it violates Canadian law. American Express issues credit cards to Canadian clients who want to be able to use ATMs because of this.

 

Also, remember that in Canada banks are not allowed to support both MasterCard and Visa, that is an anti-trust violation. For direct payment, you need a card with the NYCE logo, which has an agreement with Interac, our national debit processor (it's not anti-trust because all of Canada's financial institutions are members, it's simply a clearinghouse).

 

Canadian banks have many agreements with American banks and some own American banks. Check with your bank about arrangements with Canadian banks. Sometimes it's hidden on their website.

[hooked-on-travel]

WOW, this is even more complicated than I realized! But I'm glad everybody has been here to explain it. Thanks all!

[Ephraim]

I just verified the information for you.

 

The condition is: "To get cash at our ATMs, you must be enrolled in the Express Cash Program."

 

The application is available at http://www10.americanexpress.com/sif/cda/page/0%2C1641%2C14776%2C00.asp

 

In Canada, American Express cards that are authorized (ie US Cards that have the Express Cash Program) can use any ATM with the Interac logo... or basically every ATM in Canada.

 

A link to their ATM list is at http://amex.via.infonow.net/locator/cash/ but for Canada, they just specify any ATM with Interac. Since all ATMs in Canada (that I know of) are members of Interac, our national payment exchange system, they all will work.

[LeftcoastBC]

the answer is Visa :)