Service charges for ATM withdrawals and credit cards are one way that banks snag the traveling customer literally coming and going. It's the subject of a lot of discussion and analysis among travelers.
A lot of things are simpler since we first started to travel and Travelers Cheques were the way to go. That doesn't mean it's gotten cheaper though.
We've been using ATMs and paying cash while outside the country whenever possible. Our Wells Fargo checking account formerly allowed us to make unlimited withdrawals from foreign ATMs without incurring their nasty $5 fee. They've whittled that number down to two per monthly period. We thereafter pay $5 plus a 3% commission per withdrawal. In other words, it's going to cost you an annoying $20 to withdraw $500.
Since our current credit cards, like most, add 3% or so in charges for foreign transactions (and one can only trust that the actual exchange rate itself is fair), we decided to get ourselves a Capital One credit card, which touts the fact that it doesn't charge foreign transaction fees.
We're looking forward to giving our new Capital One card a test drive, perhaps on our next trip to British Columbia, and checking the rate against our go-to currency exchange site,XE.
Kathy and Brian
Two retired educators alternating joyfully between seeing the world and enjoying our eight grandchildren (in order of birth), Jake, Avery, Taegan, Lily, Peyton, Riley, Blane, and Jace.
Kathy and Brian met in the clarinet section of the University of California (Santa Barbara) Symphony Orchestra several decades ago.
Brian's Western Canadian roots and Kathy's Colorado ties resulted in their making beautiful music together along with producing a cross-border crop of descendants.
Kathy spent a year studying in Vienna at the Institute for European Studies and the University of Vienna.
Brian started the school band program in Hope, British Columbia, and later became the high school's vice-principal for 6 years and subsequently principal for 15 years before retiring in 2001.
Kathy, in between raising our three children, taught kindergarten and first grade, middle school, and high school - mathematics, computer studies, ESL, and her first love, band, before retiring in 2001.
We enjoy sharing our travel experiences and providing the odd travel tip to friends, relatives, and visitors.
Seriously, for domestic use we have a United Visa card mainly for UA tix, and stick with our Costco AmEx for most other purchases. It's been annoying seeing the charges added for the odd foreign purchase such as a hotel room multi-night stay.
The BA card is an intriguing thought though. Thanks!