Hi,
I will be participating in an exchange program in Ireland next September - December. I have two international credit cards that have no fee if I use them. But, my debit cards both will fine me at least 3% on every withdrawl from an ATM. What is the easiest way for me to get cash?
Any help is appreciated!!!
Thanks
Thing is with a credit card, it will cost you a lot in interest if you don't pay the balance off in full each month - which is why people most use debit cards while abroad. It's not a fine it's a charge by the way and some banks, like Barclays won't charge you but you will have variations in the amounts due to the exchange rate.
If you use on-line banking set up payments to your credit cards, use your credit cards to withdraw money then use the payments you set up to pay off roughly what you withdrew, so no interest bills. Even at 24% interest rates a credit card for a whole month would be cheaper than using your debit card. Are you certain that your credit cards do not have a spread on the exchange rates, lots of cards try to disguise how much they charge, although there are a few that do not charge anything extra for foreign transactions.
Check with your bank before you go. ATMs are the way to go getting cash. Some banks have agreements with European banks (i.e Bank of America with PNB Paribus, etc.) and don't charge you the withdrawal fee. Withdraw in large amounts...to avoid multiple fees. If you have a credit union, check with them...my husband's credit union participates with multiple credit unions in Europe so he avoids the heavy fee.