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Can I use my debit card in Europe? Do I need a pin for my credit card in Europe? These are the most common questions I get about using debit and credit cards in Europe. The simple answer is yes, your debit and credit card will work in Europe. Using your credit card and debit card in Europe is very easy these days thanks to global financial networks. While it easy to access your money abroad, learning a few simple rules for using your Debit and Credit Cards in Europe, will make your travel experience much better. Understand Modern Credit and Debit NetworksEach major credit card network (VISA, MasterCard and American Express) manages their own global cash network as well. VISA’s network is called PLUS (also known as Visa PLUS) while MasterCard manages two networks: Maestro and Cirrus. Take your debit card out of your wallet and take a look at it now. Look on the front side first. All modern debit cards issued in the United States are working as credit cards as well. This means that you can see the VISA or Master Card symbol on the front of your Debit Card. Now flip your card on the back side and take a look. In addition to the symbols on the front, your debit card may have a few more symbols on the back side. These days, most new ATM cards don’t have any symbols on the back, but some older ones still have them.
Simple Checklist for Using Your Debit and Credit Cards in EuropeHere is my complete checklist that I use before leaving on any trip to Europe. Having used it for so many years now, this list is more a mental checklist now. If this is your first trip to Europe, it will help you to print it out and follow it, step by step. 1. Call your bank before leavingContact your bank before leaving on your international trip. This rule applies both to your Debit Card and Credit Card issuing banks. This one rule will save you lots of headache. It is the most important rule! If you don’t inform your bank, your card may be rejected when you try to purchase things abroad. This is the only way financial companies can protect you against fraud…so help them out. Also ask about what fees they charge for foreign transactions and compare them with the best travel credit cards. 2. Your ATM card’s pin number must have 4 digitsIn Europe pin numbers still have only 4 digits allowed. In the US most banks allow for 5 digits as well. Before you travel abroad, make sure you go to a local branch and change your pin to 4 digits. Don’t forget to test the new pin! Europe has been moving to 5 digit pin numbers lately but there are still many older ATM machines that only work with 4 digit pin numbers. Yes, even in 2020, the safest way to make sure your ATM card works in Europe is to have 4 digits only as your PIN number. Barclays Bank in the UK suggests using 4 digit pins for their own customers if they have to create a new PIN number. So, be safe and use 4 digits. 3. Withdraw cash only by using your ATM cardCan you use American debit cards in Europe? The simple answer is yes, you can. However, in order to not pay any extra fees, withdraw cash from an ATM machine bearing one of the symbols found on the front or back of your Debit Card. These days, many European ATM machines show both the VISA or MasterCard and none of the cash networks symbols. 4. Know your cards’ feesCall your bank and ask them how much they charge you for international purchases. Regardless if it’s a VISA or MasterCard, each bank that issues a credit card has its own fees and they are required to tell you what fees they are charging. Remember that your bank’s fees include the VISA (or MasterCard) foreign transaction fees. The typical foreign transaction fees are 3% of the amount. 5. Increase your daily maximum cash withdrawalDepending on the fees charged by your bank, it makes a lot of sense to withdraw the maximum allowed in one transaction. The reason is that many banks charge a flat fee per withdrawal, regardless of the amount. 6. While abroad, withdraw cash only from a local bank ATM machineDon’t take money out from shopping malls or train stations. These ATM machines most likely will charge you extra money. If the ATM has the brand of a local reputable bank, then you can use it safely and cheaply. 7. Always have some cash with youEven if you have a good travel credit card, a number of places in Europe still only accept cash. These days this rule mostly applies in Eastern Europe as credit cards are still not accepted everywhere. 8. Never withdraw cash using a credit cardThis is valid in the US as well, but even more so abroad. You will pay dearly! 9. Setup a pin number for your credit cardEven though American credit cards have started having a chip in addition to the magnetic band, the American credit cards do not require a pin. However, especially when traveling to Eastern Europe, a pin number may be required for a credit card transaction (2019 note: I have not encountered this situation recently). 10. Don’t change your purchase currency.When using an ATM or credit card to make a purchase in Europe, don’t accept merchants’ suggestion to change your purchase currency to your home country’s currency when making credit card purchases. When using a credit card, the credit card machine or the shop keeper will ask this seemingly benign question: “Would you like to pay for that in US Dollars or Euros?” You may think that’s a good thing but it’s not! They can set their own rates and it still counts a s foreign transaction on your credit card. Just answer no! When using an ATM machine abroad, this question is even more subtle. Starting late 2019, ATM machines display an exchange rate and will inform you about the markup on foreign currency conversion (usually 8 to 10%) if you want your bank account to be charged in your home currency (US Dollars). Then they ask you if you accept. The message is deceiving and makes it look like you have no choice but to say yes (usually the button on the right), but please choose “No” (the button on the left usually). When you choose “No”, the transaction will go through and your home bank will make the foreign currency conversion which has very little markup usually. If you choose “Yes”, the transaction will be going through a third party foreign transaction processor and will be marked up a lot and you will pay dearly like I did. Getting the Best Exchange Rate Should I Use My Debit or Credit Card in Europe?Using the right card for the right purpose can add up to significant savings when traveling to Europe. Back to my question: should you use your ATM or Credit Card in Europe or both? The answer is a bit more complicated but I’ll try answering this question from a pure financial perspective. You might have a preference for one card over another but for me it really comes down to the fees I pay for every international transaction. In order to choose the right card for your international trip you must know a few important things about the cards you already have. Daily cash withdrawal limitEach bank in the US has a different limit for daily cash withdrawal. US banks vary a lot in their limits but most banks allow you to increase your daily limit for a given period of time. You just have to check with your bank and ask to increase your daily cash withdrawal limit. Wells Fargo for example, allows $500 maximum daily (which can be increased by a simple phone call), so you would have to do a mental conversion before entering the sum you want to withdraw in the foreign ATM machine. I have not encountered any ATM machine in Europe that would limit the amount you can withdraw (unless they are running out of cash). This daily cash withdrawal limit was imposed by my bank here at home in the US. So, if you want to increase your daily limit for cash withdrawal you have to call your bank and request it. They will usually increase it without any further questions. It’s your money anyway! Foreign currency cash withdrawal feesYour ATM card has several foreign currency withdrawal fees. Usually it is a combination of a Flat Rate and/or a percentage of the total sum taken out. Again, it really depends on your bank. You’ve got to ask them so you will not be surprised. Using a Wells Fargo debit card in Europe, will cost you $5 fee for each ATM cash withdrawals made outside the United States. If you use your Wells Fargo debit card to purchase things in Europe, you will pay an International Purchase Transaction fee which is 3% of the transaction amount for each purchase made with your debit card in a foreign currency that has been converted into a U.S. dollar amount by a network.
Using a Bank of America debit card in Europe will cost you $5 fee for ATM cash withdrawals made outside the United States plus an International Transaction fee of 3% of the withdrawal amount. If you use your Bank of America debit card to purchase goods in Europe it will cost you 3% of the purchase amount.
Using a Chase debit card in Europe costs you $5 for each ATM cash withdrawal plus 1% of the amount withdrawn. These fees do not apply to Chase’s premium banking accounts like Chase Sapphire Banking which wave any ATM fees including foreign ATM machines.
The bottom line is that you have to know what your bank will charge you. So call your bank and ask. However, just like home the US where you get charged extra by getting cash from ATM machines in shopping malls and some grocery stores, in Europe also you have to be careful where you get your cash from.
Foreign currency purchase feesThe fees your bank charges for foreign transactions include 1% charged by VISA or MasterCard for converting to US dollars and a percentage of the transaction total after converting to US dollars. Again, call your bank so you won’t be surprised. And for fun, just ask them why they charge you on top of what VISA/MasterCard charges you. It’s always fun to see how banks try to explain that they’re just trying to take advantage of the increase in international travel and make lots of money. American Express foreign currency conversion feesWhat does this mean? Well let’s just take a simple example: Let’s say you purchase something in France that costs 100 euros. American Express, when they receive the transaction, converts the price from Euros to U.S. Dollars using the highest conversion rate they can find (at least that’s what they’re saying…it’s hard to really check). Let’s say that they find 1.5 US Dollars to 1 Euro. That means that they will charge you $150 U.S. Dollars for the 100 Euro item you have purchased. Now, the finance charge is 2%, which means that that they would add an extra $3 (2% from $150). So, your total for that item would be $153 US Dollars. US Bank Visa fees for purchases made in foreign currencyHere’s an example of what US Bank says about foreign transactions on my VISA credit card statement: As a reminder, we may charge a foreign fee of 3% on transactions that occur in a country other than the U.S. Now, this is interesting! As if they will ever NOT charge me 3% on transactions that occur in another country. This 3% consists of 1% VISA foreign transaction fee and 2% US Bank Usage fee. Using the example I have used for American Express, the same 100 Euro item would cost me $154.50 if I would use my US Bank Visa credit card. What Are the Best Travel Credit Cards ?The answer to this question used to be very easy. A cash back credit card without foreign transaction fees used to be the obvious answer. Recently however, banks are issuing great credit cards packed with lots of travel rewards for an annual fee. So it really depends on what kind of traveler you are. My current favorite travel credit card, is the Capital One Venture credit card for its generous sign up bonus and Visa Signature travel rewards. It does come with a $95 annual fee which is not cheap. It also helps save on rental car costs by covering the extra insurance cost. The simplest and cheapest travel credit card is Capital One Quicksilver. It doesn’t charge ANY foreign transaction fees and gives you cash back. To put it simply, you don’t pay anything extra for using the card outside of the United States. In addition you also get 1.5% cash back on all purchases and you get Visa Signature or Master Card Elite travel benefits. Lower on the preference scale, would be American Express credit cards. There are two reasons American Express provides good travel cards. Firstly, foreign transaction fees are 2.7% which are slightly lower than the vast majority of credit cards which charge 3%. Secondly, American Express provides
a lot of extra travel services with their cards. However, the big drawback of these cards is that American Express is accepted in fewer countries and stores. How to Best Use Your Debit and Credit Cards in EuropeThere is a lot of hype everywhere about getting the right credit and debit cards for traveling. A good travel credit card only saves you only about $30 for each $1000 spent on your trip overseas.
When traveling internationally, I try to simplify everything. When it comes to the debit and credit cards I take with me to Europe, I have only one simple rule. If you really want to squeeze every dollar when you travel, here is my simple rule.
Remember that the symbols on the front of your ATM card are for purchases. The symbols on the back are for cash withdrawals. Following this simple rule saves me between $20 and $50 for every $1000 spent in Europe. Simplest Steps for Maximizing Your Travel Budget Get a money belt. Or, if you’re like me and need more space, you might prefer
a fanny pack that you can carry everyday. This is a must have for international travel. I use a small and comfortable fanny pack to keep my passport and money always safe with me. It’s a lifesaver when traveling. Article Series: Maximize your travel budget
Learn to Travel SMARTSubscribe to my newsletter and get your free Smart Travel Kit. Learn how to maximize your money, photography and electronics while traveling, plus practical destination guides delivered to your inbox for free. Read More: How do I use my bank of America ATM card internationally?Traveling Internationally? Use your Bank of America ATM or debit card at one of our International partner ATMs and avoid the non-Bank of America ATM $5 usage fee for each withdrawal, transfer or balance inquiry 1 as well as the ATM operator access fee.
Can I use my bank of America debit card anywhere?Check the network: You can use your Bank of America debit card or ATM card anywhere you see the CIRRUS symbol. In addition to CIRRUS, you can use ATMs with the MasterCard or Visa symbols. The symbol on the front of your card will indicate if your card is MasterCard or Visa.
What fees does Bank of America charge for debit cards?Bank of America doesn't charge transaction fees when you use your debit card to make purchases, but some merchants may impose a transaction fee or surcharge. An international transaction fee may be charged for debit card purchases and ATM cash withdrawals.
Which bank of America credit cards have foreign transaction fees?Which Bank of America credit cards have foreign transaction fees? Card name Foreign transaction fees World Wildlife Fund 3% US Pride 3% BankAmericard Secured 3% Cash Rewards for Students 3% 5 more rows ...
Does Bank of America debit card charge international fees?Whenever possible, use your ATM or debit card at one of our international partner ATMs. If you use a non-partner ATM, you may be charged fees by both Bank of America and the ATM operator. A Bank of America International Transaction Fee of 3% will apply when converting your currency.
Do Bank of America cards work overseas?Credit cards with no foreign transaction fees give you the freedom to travel internationally and spend money without worrying about the added cost of foreign transaction fees. Start your next trip off right by applying for a Bank of America® credit card with no foreign transaction fees.
Does Bank of America debit card work in Europe?Using a Bank of America debit card in Europe will cost you $5 fee for ATM cash withdrawals made outside the United States plus an International Transaction fee of 3% of the withdrawal amount. If you use your Bank of America debit card to purchase goods in Europe it will cost you 3% of the purchase amount.
Why is my Bank of America card not working internationally?It's possible that their fraud detection systems may stop you from using your card outside the U.S. This is something that many banks, not just Bank of America, do. If you know you're going to be traveling far from the usual places you use your card, it is well to talk to the bank beforehand to let them know.
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Does bank of america debit card work internationally
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