ATMs abroad..

Generally (never been to India, but assume general principles will apply)
the only fee you pay is levied by YOUR bank (unless you use a 'private' ATM
in the USA, Australia or Canada.....). It varies - and your bank will tell
you just how much it is. The exchange rate you get is the wholesale
interbank rate for the day - AND a charge of about 1% to 2% is applied as
commission. I no longer take TC's at all - just three different ATM cards
and a reserve of USD in cash. TC's involve commission (1% in Australia) on
purchase; often commission on encashment; and always bureaucratic delays -
sometimes of Homeric proportions. The downside of relying on plastic is the
risk of loss or theft of your card - two of us - three cards each minimises
that!!


"SD" wrote in message
...
Is anyone aware if there are any fees other than bank transaction fees
to withdraw money from ATMs abroad. I'm in the US and planning on making
a few withdrawals in India.

I checked the ATM locators and found that there are a lot of Cirrus ATMs
all over Bombay where I will be and Citibank (who I bank with here) has
a few right near where I stay.

It seems extremely convenient (as compared to TCs / cash) as a way to
withdraw money straight from my bank account. Are there any drawbacks,
extra fees, things I should think about when comparing with TCs or cash?

TIA for any help
SD

"Paul O" wrote in message
u...
Generally (never been to India, but assume general principles will apply)
the only fee you pay is levied by YOUR bank (unless you use a 'private'
ATM
in the USA, Australia or Canada.....). It varies - and your bank will tell
you just how much it is. The exchange rate you get is the wholesale
interbank rate for the day - AND a charge of about 1% to 2% is applied as
commission. I no longer take TC's at all - just three different ATM cards
and a reserve of USD in cash. TC's involve commission (1% in Australia) on
purchase; often commission on encashment; and always bureaucratic delays -
sometimes of Homeric proportions. The downside of relying on plastic is
the
risk of loss or theft of your card - two of us - three cards each
minimises
that!!

Wow, that's quite a bit of safety built in. We usually take ATM cards from
2 different banks. Each person carries a different one.



"SD" wrote in message
...
Is anyone aware if there are any fees other than bank transaction fees
to withdraw money from ATMs abroad. I'm in the US and planning on making
a few withdrawals in India.

I checked the ATM locators and found that there are a lot of Cirrus ATMs
all over Bombay where I will be and Citibank (who I bank with here) has
a few right near where I stay.

It seems extremely convenient (as compared to TCs / cash) as a way to
withdraw money straight from my bank account. Are there any drawbacks,
extra fees, things I should think about when comparing with TCs or cash?

TIA for any help
SD

Cards: Amex, Visa and cashcard - all with ATM affiliation!! Not too much in
USD cash. Keep the equivalent of $300 between us in local cash too.

"Peter L" wrote in message
...

"Paul O" wrote in message
u...
Generally (never been to India, but assume general principles will
apply)
the only fee you pay is levied by YOUR bank (unless you use a 'private'
ATM
in the USA, Australia or Canada.....). It varies - and your bank will
tell
you just how much it is. The exchange rate you get is the wholesale
interbank rate for the day - AND a charge of about 1% to 2% is applied
as
commission. I no longer take TC's at all - just three different ATM
cards
and a reserve of USD in cash. TC's involve commission (1% in Australia)
on
purchase; often commission on encashment; and always bureaucratic
delays -
sometimes of Homeric proportions. The downside of relying on plastic is
the
risk of loss or theft of your card - two of us - three cards each
minimises
that!!

Wow, that's quite a bit of safety built in. We usually take ATM cards
from
2 different banks. Each person carries a different one.



"SD" wrote in message
...
Is anyone aware if there are any fees other than bank transaction fees
to withdraw money from ATMs abroad. I'm in the US and planning on
making
a few withdrawals in India.

I checked the ATM locators and found that there are a lot of Cirrus
ATMs
all over Bombay where I will be and Citibank (who I bank with here)
has
a few right near where I stay.

It seems extremely convenient (as compared to TCs / cash) as a way to
withdraw money straight from my bank account. Are there any drawbacks,
extra fees, things I should think about when comparing with TCs or
cash?

TIA for any help
SD