best debit card to avoid transaction fees

When plastic cards came out for using in bank machines, they were referred to as "Bank cards" or "ATM/ABM cards" in Canada. Some of you might be old enough to remember this and this is certainly the terminology on the legal ageeements which the banks required you to sign.

Debit was not around at that time so no, they were not called debit cards and of course children could have a bank card to go with their account

Much later debit payments came into being and now with younger folks paying for everthing, including 50 cent items, by debit, most of them call their bank card a debit card. I don't use debit and don't call my bank card a debit card.

To answer the original question, Scotiabank is a member of the Global Alliance and you can have transaction fee free withdrawals from member banks atms. But you need to look up the list and check which countries you can find these in.

Not really sure the left coast is even a part of Canada but I digress, the banks offer 2 types of bank cards.

One that the customer uses to purchase things without needing money in their account, so as one is buying on credit it is called a credit card.

The other debits the purchase price from one's account so is aptly known as a debit card.

My US bank prints this on the card, my Canadian banks didn't, or in the case of TD used the term access card, nor does my Salvadoran bank. Makes no difference they have the same function.

Well I don't live, nor have I ever, on the west coast of Canada, so if you are trying to insult me you have fallen flat.

No, the banks in Canada don't issue two types of cards, they issue a bank card IF you agree to have one. The purpose of this card is to use the ATM/ABMs thus the banks save on staffing costs. You can use this card for debit purchases IF you have this feature activated, at places that accept debit.

They do not issue any credit cards, this is done by a credit card company after you make an application to them, not everyone will be able to get one. Credit cards will have some sort of bank or financial institution affliation. Having an account with a certain bank is just a lead in for them to get their cut from selling you a credit card from the other entity.

I am surprised you are so confused by this, but maybe it is because you are talking about the USA and El Salvador, which are not relevant to the topic.

They do not issue any credit cards, this is done by a credit card company after you make an application to them, not everyone will be able to get one. >

http://www.bmo.com/main/personal/credit-cards#

I am surprised you are so confused by this, but maybe it is because you are talking about the USA and El Salvador, which are not relevant to the topic.

only one confused here is you :(

Tangerine (used to be ING) is the only Canadian bank, to my knowledge, that does not charge a foreign currency transaction fee which would really add up over the course of a round the world trip. Most banks charge 2.5-3% as a foreign currency transaction fee but they roll it into the exchange rate so you really need to read the fine print to find it. It's not obvious. They also only charge $2 per withdrawal although as you know, the local machine you use might also charge their own fee. I'm not yet a customer of Tangerine but have been doing some research.

Also, if you need a credit card, Chase Bank is now offering credit cards in Canada and they are the ONLY credit cards that do not have foreign currency transaction fees .. again it's about 2.5% you would be saving. The card partnered with Amazon.ca doesn't have a fee associated with it but they also have a card that earns Marriott hotel points that has an annual fee.

This topic has been automatically locked due to inactivity. Email community@lonelyplanet.com if you would like to add to this topic and we'll unlock it for you.