Bank account/credit card in Florence, Italy?I'll be studying abroad in Florence, Italy in the fall so I'll need a credit card and ATM card while i'm there. I hear Capital One credit cards don't charge a foreign transaction fee, is this true? Also, what can I do about a bank account that won't charge me to take money out of foreign ATMs? | |
You have to check with your bank to determine the features that you can get with your card for your particular type of account. The account I have does not charge a foreign transaction fee and also reimburses my account for ATM fees from other banks which is especially nice since I've been living in Italy for the last ten years. I just use my Italian bancomat (ATM) at branches of my bank when I'm in Italy. But when I'm out exploring the rest of Europe, I use my US ATM to avoid the extra expenses. You have to maintain certain balances to get these features.
Nope. Capitol One cards charge 1%, which is probably the lowest you'll find.
I don't believe you will find ANY way to not pay that fee. That's one of the ways that banks make the money they turn into the interest they pay to you.
My bank account didn't charge me for using the ATMs in Europe. You need to check with them, and if you need to, call around until you find one that won't...or you can (and probably should) open an account once you get there.
Depending on your program, ours paid us every month (out of the money we had paid them before leaving the US) an allowance, out of which we paid our expensese.
Keep in mind that when you use a credit card to get cash, they charge an extra fee for cash advances, that can add up to a LOT of money over a year! ALWAYS use your cash account if possible.
