Foreign ATM useage fees and refunds

jam1705

Several banks offer debit cards with zero fee worldwide ATM withdrawal and conversion at mid-market rates with no foreign exchange fees. These cards are great but some foreign ATMs charge their own useage fees which can be high and in some countries it's very hard to find one that doesn't.

Does anyone know of any banks that will refund these ATM useage fees? I currently have Starling and HSBC Global debit cards for travel but neither will refund these fees.

eskbanker

It wouldn't even have crossed my mind that any card issuer would refund such fees as they have absolutely no control over them at all and don't receive the revenue, which goes to the ATM operator.  If you do find such a card, keep us posted!

elsien

That’s what I like about this forum. Topics raised that make you do a quick double take. 

jbrassy

I don't think banks would refund ATM fees for the reasons mentioned above. However, I recall reading somewhere that if you use HSBC or First Direct in an HSBC ATM abroad, the ATM won't charge you fees. I might be wrong though and this should be fact checked. HSBC is quite prevalent worldwide, especially in Asia and Mexico from my experience. 

NoodleDoodleMan

jbrassy said:

I don't think banks would refund ATM fees for the reasons mentioned above. However, I recall reading somewhere that if you use HSBC or First Direct in an HSBC ATM abroad, the ATM won't charge you fees. I might be wrong though and this should be fact checked. HSBC is quite prevalent worldwide, especially in Asia and Mexico from my experience. 

Similarly a Santander UK debit card is fee free if used to withdraw currency from a fully branded Banco Santander ATM in Spain (including the Balearics) and Canaries.

These are ONLY located at BS branches, (internally and externally)  which you'll find in most resorts/towns of any size.

A Santander UK Everyday Current Account is ideal, especially as it has no strings attached T's&C's.

The same benefit is available in several other countries where Santander operates, however for obvious reasons there is a much bigger presence in the old country.

To echo eskbanker's observation - if anybody knows of a UK bank that'll reimburse foreign bank ATM fees - spread the word so we can all apply for an account !!!

bagand96

When they advertise no overseas fees, they are talking about their own bank imposed fees. They have no control over ATM operator fees.

It's no different to withdrawing cash in the UK from a private ATM that charges you £1.95. They won't refund that either.

I find a quick search of the TripAdvisor forum for the destination before I travel will suggest if there's any fee-free ATMs.

I've also used this app which lists ATM fees https://atmfeesaver.com/ It's crowdsourced data so not always 100% correct or up to date, but it is useful. 

NoodleDoodleMan

Thanks for flagging up that link, useful to bookmark for reference.

As you say it's not going to be wholly accurate as it's based on anecdotal observations - and sometimes becomes out of date quickly.

For example I used a Banca March ATM in Mallorca a couple of years ago as it was fee free for "user friendly" cards such as Chase or Starling etc.

I believe that has since changed and they now impose a transaction fee.

Voyager2002

eskbanker said:

It wouldn't even have crossed my mind that any card issuer would refund such fees as they have absolutely no control over them at all and don't receive the revenue, which goes to the ATM operator.  If you do find such a card, keep us posted!

Some banks in the USA do refund these fees, apparently. I have no idea why. Presumably the cost to them is very low since so few of their customers travel.

martindow

In some places (France, Germany, for instance) if you find a machine that wants to charge a fee, you can try others nearby to see if you can find a cheaper or free one.  It's much like in the UK really.  

Nearly everywhere though I find I am paying by card for everything and there is little need to withdraw cash.  So the most important thing, I think, is to use a card abroad that does not add transaction fees as these really add up for lots of small purchases.

jam1705

Thanks for all your replies.

I've looked on various travel forums and it seems it's generally Americans that have such cards often citing Schwab and Chase banks as their card providers.

I had hoped there might have been similar providers in the UK.

eskbanker

The American personal finance landscape is very different from the UK's, in many ways, and we don't get to cherry-pick the positive aspects!