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ATM Foreign Fee Vs ATM Foreign Transaction Fee by Luke These fees sound the same, but they are different. An ATM “foreign” fee is paid to the debit card’s issuing bank for using an out-of-network ATM (a “foreign” ATM). These fees vary from bank to bank, but recent surveys show that the national average is about $1.29 per transaction. An ATM “foreign transaction fee” refers to a fee that is paid to the issuing bank for using ATMs to convert foreign currency — usually while in a foreign country. These fees also vary from bank to bank, but usually range between 1-5% of the total amount being converted. These fees are not exclusive. It is possible to be charged both a “foreign” fee, a “foreign transaction fee” and even other ATM fees all in the same transaction.
5 Comments to "ATM Foreign Fee Vs ATM Foreign Transaction Fee"
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July 14, 2006 
Comments (5)
[...] Below are the fees assessed for using a CitiGroup Debit Card at an ATM machine in a foreign country to withdraw currency. These fees only apply when using the debit card at an ATM machine in the debit card company’s network. Fees can be higher when using an out-of-network ATM machine. Please see this post for clarification between ATM foreign fees and ATM foreign transaction fees. [...]
[...] Below are the fees assessed for using a National City Corp. Debit Card at an ATM machine in a foreign country to withdraw currency. These fees only apply when using the debit card at an ATM machine in the debit card company’s network. Fees can be higher when using an out-of-network ATM machine. Please see this post for clarification between ATM foreign fees and ATM foreign transaction fees. [...]
[...] Below are the fees assessed for using a Wachovia Debit Card at an ATM machine in a foreign country to withdraw currency. These fees only apply when using the debit card at an ATM machine in the debit card company’s network. Fees can be higher when using an out-of-network ATM machine. Please see this post for clarification between ATM foreign fees and ATM foreign transaction fees. [...]
Hello,
I’ve an Online ATM MASTER CARD from First Community,USA.could you please use my PIN and 16 digits numbers in order to PRINT a Physical ATM CARD for me?
I just got off the phone with Wachovia and they said there would be no 3% Foreign Transaction Fee when using an ATM machine. That only applies to purchases made with the card and the fee originates from Visa. If I stuck to ATMs, they told me, there would be a flat fee of $5 per-transaction and nothing else.
However they did also tell me that the exchange rate they’re using today is $1.3885 to the Euro, which is $.06 more than published on the European Central Bank site ( http://www.ecb.europa.eu/), forex’s http://www.fxstreet.com and at finance.yahoo.com. So essentially it seems to me that there IS a percentage levied on top of the per-transaction fee: I’m paying $0.06 more for a euro than I should be. But then again, were I to exchange currency at a kiosk I don’t think they’d be charging me the lowest rate either.