Need an online bank for when I travel that has no fees
November 20, 2007 8:18 AM Subscribe
My friend and I are going on an extended trip (6+ months) to Europe in April. We'd like to have two atm/debit cards to use drawing from the same account, but we need an online bank that we can use the cards internationally and not get charged a fee. Netbank used to do this but apparently was taken over by ING Direct. Not sure where else to turn!
Baud, the problem is many US banks charge a fee to access money outside the US. ING Direct USA charges 2% for foreign transactions on its Electric Orange accounts. Fucking Wells Fargo charges that + $5.00 for not using a Wells Fargo ATM as if there's a Wells Fargo machine in Prague.
I have an account with BofA which does not charge if you use Deutche Bank in Germany, Barclays in the UK and Paribas in France. Everywhere else is they charge I think $5. In some cases the bank you use overseas charges a fee.
I've heard some credit unions may rebate the fees but I don't travel enough to really bother with it. I just try to limit my withdrawals as much as possible. I don't know for certain, but perhaps HSBC doesn't charge its customers using subsidiaries in other countries. I doubt it though.
posted by birdherder at 9:36 AM on November 20, 2007
I have an account with BofA which does not charge if you use Deutche Bank in Germany, Barclays in the UK and Paribas in France. Everywhere else is they charge I think $5. In some cases the bank you use overseas charges a fee.
I've heard some credit unions may rebate the fees but I don't travel enough to really bother with it. I just try to limit my withdrawals as much as possible. I don't know for certain, but perhaps HSBC doesn't charge its customers using subsidiaries in other countries. I doubt it though.
posted by birdherder at 9:36 AM on November 20, 2007
I have an HSBC Online Savings account with an ATM card, and I don't seem to be charged any fees for foreign ATM transactions. This is strange, since they think they should be charging me $1.50 or so, but who knows. The exchange rate they give me is good.
posted by smackfu at 10:38 AM on November 20, 2007
posted by smackfu at 10:38 AM on November 20, 2007
Seconding HSBC.
I was in Europe April-May of last year. I set up an account with them and ended up only being charged once for an ATM withdrawl. And that was mainly because I had gone to one of those quick ATM things.
A warning if you do use them though, set the account up at least a month in advance of leaving. I set mine up 2 weeks before and I still had to charge a lot of stuff during the first week because of the hold.
posted by arishaun at 2:41 PM on November 20, 2007
I was in Europe April-May of last year. I set up an account with them and ended up only being charged once for an ATM withdrawl. And that was mainly because I had gone to one of those quick ATM things.
A warning if you do use them though, set the account up at least a month in advance of leaving. I set mine up 2 weeks before and I still had to charge a lot of stuff during the first week because of the hold.
posted by arishaun at 2:41 PM on November 20, 2007
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What you're aiming for is called "Maestro". With my Maestro enabled banking card, I can get my euros out of any ATM in europe that sports the Maestro logo.
Most belgian banks offer PC banking (send money tom someone by going to a https secure gizmo).
Your best bet is asking ING Direct if they carry the Maestro system.
posted by Baud at 8:52 AM on November 20, 2007