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cc foreign transaction fee?

ny
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524 posts
4 reviews
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cc foreign transaction fee?

Using cc in Ecuador encounter this fee? I would think not since USD is used there. No?

Tucson, Arizona
Destination Expert
for Quito, Ecuador
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10,383 posts
96 reviews
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1. Re: cc foreign transaction fee?

Your bank may charge a fee for using the card at an ATM other than its own, but there should be no foreign exchange fee.

Benson, Arizona
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2. Re: cc foreign transaction fee?

When I called to check my CC they told me there would be no foreign transaction fees as it is $US but I would still call and make sure with your CC company.

ny
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524 posts
4 reviews
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3. Re: cc foreign transaction fee?

Yes, I'll call my cc. Thank you.

Quito, Ecuador
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327 posts
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4. Re: cc foreign transaction fee?

Depending on what you hear from your CC company, I travel back and forth to Ecuador frequently (from the US) and use a Capital One Venture travel card. They offer 2 points per dollar spent and waive the first year's fee. No foreign transaction fees anywhere in the world. Beware, you are dealing with two separate charges here...the currency conversion fee and a foreign transaction fee. Make sure you ask about the correct one. There will obviously be no currency conversion fee yet the company may still charge a foreign transaction fee as the transaction is indeed out of the country. Just make sure you and your bank are on the same page with those terms.

I also use switched to a Charles Schwab checking account because not only do they never charge a foreign transaction fee, they also reimburse atm fees. To top it all off, their customer service is top notch...the best I've encountered, actually, and I've tried many banks!

Good Luck

ny
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5. Re: cc foreign transaction fee?

Thank you Nichole for your info. I do have Cap1 cc & CS chk act. I used CS debit card few times in Argentina in Feb and I just found out that someone withdrew ~$75 in Argentina on March 17 (we were in Florida). I found out about the unauthorized withdrawal from online statement I happened to look today. CS told me few w/d attempts were made after 3/17 in Buenos Aires which were all blocked and my debit card was closed. I was very surprised that they never notified me. As for $75 unauthorized w/d, I made an official dispute. I used the debit card to w/d cash from ATM in Europe & Mexico w/o any problem before. Just fyi.

Quito, Ecuador
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327 posts
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6. Re: cc foreign transaction fee?

Yikes! good to know...they definitely should have notified you!!!!!

Redmond
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111 posts
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7. Re: cc foreign transaction fee?

Among other things, you should ask for the video recording of the ATM to prove it was not you withdrawing the money. It's a simple but effective way to get the bank's attention. However, the global trend is to not reimburse you for such situations (Ecuador still does it in most cases) as it's basically the same as replacing a counterfeit note.

8. Re: cc foreign transaction fee?

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