View single post by Hook
 Posted: Thu Jun 16th, 2016 08:24 pm
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Hook

 

Joined: Wed Oct 26th, 2005
Location: Mexico
Posts: 3361
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Mana: 
We find using a Capital One credit card for many purchases is very economical. No intl transaction fees and very competitive exchange rates. We use this for restaurants, groceries, pretty much anything above a few hundred pesos. This saves us from carrying around so much cash and heading to the ATMs as often.

For ATM use, for cash, we use our ATM card from our credit union. There is an international transaction fee but it is less than one percent which we feel is reasonable to access our legacy "checking account" with the back up of our "savings account".

Some people open up brokerage accounts with firms like Schwab or Fidelity and get an ATM card tied to that account. The firms waive the fees, generally. But I have read several stories about people with these accounts having a freeze put on them when using them in a foreign country, DESPITE NUMEROUS CALLS TO THE FIRMS, ALERTING THEM THAT THEY ARE OUT OF THE COUNTRY. It can become a real pain when you are in a foreign country and your card suddenly gets declined and phone service is iffy.

Last edited on Thu Jun 16th, 2016 10:19 pm by Hook