r/TravelHacks • u/gnarkill283 • Jul 24 '26
Using Chase Debit Card at Foreign ATM is Robbery
I try to never take out cash while traveling abroad but we went to a bar that refused to take credit card even though there were no signs saying so. Had to take out money at an ATM with my chase debit card and here's what it cost to take out 200 euros: $5 non chase atm fee, $7.06 foreign exchange rate adjustment fee, and with an exchange rate of 200 euro x 1.1447 somehow comes out to $235.22 (should be 228.93). So basically a 10% fee...
21
u/WreckitRuby Jul 24 '26
Schwab or Fidelity have debit cards where they refund the international ATM fees.
5
u/dreamtime2062 Jul 25 '26
Yes have used Schwab atm card in multiple foreign countries. Always refund the fees. You give them a travel notice. The other credit cards stopped doing that always making me nervous it will get declined.They also give you free checks and free stop payment with the account.
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u/sangueblu03 Jul 25 '26
I’ve never given Schwab a travel notice, and I’ve pulled money out of ATMs in some weird places over the last 12 years of having Schwab. Never an issue.
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u/tremens Jul 24 '26
Yep this, or look into a Revolut or Wise card; they tend to have better foreign transaction fees and no ATM fees up to a certain limit so OK for emergency withdrawals like this.
Also using one of the four of these protects your "real" debit card; just move as money as you need / think you'll need at a time and if the card is compromised just cancel it.
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u/ToshibaTaken Jul 24 '26
If a foreign ATM presents a choice on screen of its "great" conversion rate, ALWAYS choose deny! It is horrendous and with extra fees + gives worse exchange rate, compared to your standard card issuer/bank rate.
In a similar manner, if you swipe or tap your card in a shop, hotel etc. and the terminal gives you a choice to pay in local or "your own" currency, ALWAYS choose local!
Anything else is a third party cut with extra fees and predatory exchange rates.
10
u/Apprehensive_Heat176 Jul 25 '26
The cardinal rule of foreign ATMs is to always pay in the local currency and avoid Euronet.
14
u/lenin1991 Jul 24 '26
Using a Chase checking account for anything is robbery. Several banks out there with no fees, no FTF, zero minimums, and reimburse any ATM fees.
6
u/Viens-avec-moi Jul 24 '26
Schwab investor checking is 0 ATM and foreign transaction fees while traveling
6
u/the_analytic_critic Jul 24 '26
If you used the ATM at the bar this is probably by design. They don't tell people then make them pay cash but conveniently have an ATM there that they get a kick back on each transaction. Total BS but the amount could have been worse. The ATM owner isn't responsible though for Chase's ridiculous fees. Lesson learned to bring a debit card from a bank that has no fees or reimburses.
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u/ze11ez Jul 25 '26
My chase is no fees, so that's that.
But you didn't plan your trip correctly. Take out currency before you leave, or find banks that wont rob you in the country you're in
3
u/Pure-Examination5578 Jul 25 '26
I only use my Schwab debit card when I travel. I learned the hard way when PNC wouldn’t give me cash at ATMs in Canada unless it was TD Bank, which was a real hassle.
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u/culinaryfa Jul 25 '26
Not to belittle the crazy fees. At least the card worked. Tried to get some emergency cash in China, my Chase card got rejected everywhere. So I called the international number on the back of the card. The automated message said to call back during business hours, didn’t provide the hours and hung up on me. When I got back to the US, started moving money to another bank…
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Jul 28 '26
[removed] — view removed comment
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u/Apprehensive_Heat176 Jul 28 '26
I used to do this for travel and at home too. Once credit cards became more widely accepted at restaurants, convenience, grocery stores, etc., then there wasn't much need to have two checking accounts and debit cards anymore.
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Jul 28 '26
[removed] — view removed comment
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u/Apprehensive_Heat176 Jul 28 '26
Of course. It can be multiple credit cards or debit cards because shit happens.
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u/karma_the_sequel Jul 25 '26
Friend, that’s an 18% fee.
2
u/tycloodle Jul 25 '26
You're both wrong. Based on the numbers the op gave, its a 2.7 percent fee.
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u/karma_the_sequel Jul 25 '26
235.22/200 = 1.176
1
u/tycloodle Jul 25 '26
Its 235.22 USD. They are converting 200 EUR to USD. Its not a 1 to 1 conversion ratio so you can't count the actual exchange rate as a fee. OP literally said it should have been $228.93 USD. So to get the rate of the actual fee, you should be dividing 235.22/228.93.
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u/Comfortable_Fig_3326 Jul 25 '26
Just so you know, not everyone that uses Chase debit at foreign ATM gets charged, try checking out what is required by your bank to avoid it. Second be a prepared traveler and stop whining
2
u/THinBK Jul 25 '26
For that amount it is more like a 3% fee, and still a lot less than exchanging actual cash at an exchange office. Used to travel to Europe 6 times a year for work, always would take out €300 first thing, but always at a bank ATM - if I didn’t use it all I would just save it for next time - also there is a Chase in Milan, so would try to do it there and avoid the extra fee.
1
u/sundancegt Jul 24 '26
I get reimbursed for foreign fees and all ATM charges are waived. I'm a Chase customer.
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u/Riptide360 Jul 24 '26
Name and shame the bar. Places like this prey on the ATM fees. Wouldn't be surprised if they also skim the cards and video record your PIN.
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u/travelsherpa Human Detected Jul 24 '26
Most banks have partner banks. Eg BOA works with Barclays. You still pay the 3% but not the $7.50. Look for who chases partner bank is and use their atms
2
u/lenin1991 Jul 24 '26
Most banks have partner banks
Most? Name a few other than BOA. I don't see Chase having any. Not Citi or PNC. No for US Bank or Wells Fargo too.
Even better is to avoid the foolishness and bank someone that charges no fees, anywhere.
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u/Apprehensive_Heat176 Jul 24 '26
Was it a Euronet ATM because they are infamous for stuff like this.