In the past I used a debit card/checking from Bank Of America that charged me a 3% Visa conversion fee plus a $5 fee PER WITHDRAWL to take money out of a ATM machine here in Lima Peru where I live.This is crazy.

When I went back to New York to visit my family for the holidays,I did some research and found that in the northeast there are some banks that charge no or very low fees to use a overseas ATM machine.

I thought I start this important list of banks that dont charge any fees on their debit card when you use a overseas ATM.(Please note: before opening any checking accounts,please double check to make sure my info hasn't changed).


TD Bank North (Location:Northeast USA) Only charges a 1% conversion fee and there is no min desposit required.

Commerence bank (Location:Mid Atlantic/Northeast USA and a few in FL)
Only charges a 1% fee but there is a $2500 min deposit requirement in the checking account.

Bank of America will not charge their typical $5 withdrawal fee nor conversion fee if you withdraw from banks with which they have a relationship. Ex: Barclays in UK, BNP Paribas in France. These two are the biggest (or among the biggest) banks within their respective country and have ATMs everywhere. I believe BofA has relationships with banks all over Europe, not sure about elsewhere. Min balance of $1000 to avoid monthly service charge ($6.50).

I would not be surprised if other large US banks like Citibank had similar relationships/deals.

(1) Charles Schwab Free Checking reimburses ATM Fees Worldwide and comes with a Brokerage account too. (It's July 2008)
"Check CharlesSchwab dot com"
Online Checking Accounts: Online Investor Checking Accounts: Charles Schwab

(2) United Services Auto Association (USAA) members also get Free Checking with Free Worldwide ATM use but you got to be a member.(they have requirements)
"Check USAA dot com"

(3) There are whole other USA banks that I have relationship with (usually not a mainstream bank) that does only $1 for non-US ATM withdrawal and practically nothing besides Visa & MC conversions.

We're only talking about non-US transactions, aren't we? ATM refund in the US is common a whole lot of our banks.

Certain Military Banking & Equavalent Accounts should have those features (ATM fee refunds...etc) for our servicemen and women abroad. Dont think, they are/wannabe paying those fees every time.

Hi,
The only UK bank that doesn't charge for ATM use anywhere in the world is the Nationwide.
As a holiday rep I opened an account with them for that reason, and they are true to their word !
Nance

Even if they don't charge ATM fees, there will probably still be a foreign transaction fee. The last few banks that didn't charge these fees are starting to, even for those with very large deposits.

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I know with TD Bank North, they pay the foreign transaction fee. The only problem is if the bank does not separate the transaction fee from the withdraw amount.

For anyone who lives in the northeast USA (TD Bank North) or Canada (TD Canada) and planning to live overseas, get a TD Bank North checking account and Debit card before you leave. All they charge is 1% for your ATM withdrawl. Its great.

What do you mean by 1%? Did you mean, the exchange rate at [interbank rate + 1%] and no ATM fees whatsoever?

That's because, I'm pretty sure, you did not mean "1% of the amount withdrawn". Well, that'd be a rip-off if it is.

Are you serious? A 1% fee to take out currency in a foreign country is high for you? Let me give you two examples....

Bank of America Charges $3.00 plus 3% per transaction

Wachovia Charges $2.50 plus 3% per transaction

Plus TD Bank give you a higher exchange rate for your dollar than you would receive at a exchange house, airport or foreign bank.

$100 = $1 fee...cmon get real.