Cash Advances with a debit card

[Bbqmustache]

First a tip:  Here in the United States, anyone with a debit card and ID can take the time to walk into any financial institution that provides cash advances and request one, in any amount.  VISA/Mastercard rules require these companies to allow it, even for non customers.  Avoid ATM fees!

Now the question:  My DD is heading to Germany, Switzerland, the Chech Republic and Austria next month.  Can any one tell me is the same technique can be used in banks in these countries?

[surfhb]

Huh?

Have her use a CC!   Do not go to Europe and start fiddling with debit card which have direct access to cash.    Been ripped off too many times.

In fact,  I've had my debit card hacked 3x now for more than $3k.  I rip them up anymore and refuse to use them anywhere

[kvaruni]

Debit cards are overly common in Europe, and entirely safe. I simply cannot think of a single incident of someone (friends, family) having their debit card hacked since at least 2000. To be honest, most ATMs don't charge money in Europe for a withdrawal, so just head over to the ATM instead of heading for a branch office. That being said, chip cards have been the standard in Europe for a long, long time now. I don't know what kind of debit card your DD has, but if it comes without a chip, chances are that you won't be able to use it.

[Bbqmustache]

Besides the conversion fee and the 1% international fee, her bank charges her $5 every time she uses an ATM outside the US.  Big behemoth bank, so card should be a chipped card.

Going into a bank office and asking a bank employee for a cash advance is MUCH less risky than using an ATM, particularly ATMS that are independent and not right at a bank.

[kendallf]

Sounds like she needs a better bank, or more to the point, a good credit card for international use.  This is a great opportunity to spend toward reward bonuses while saving money.  I'd recommend Sapphire Preferred from Chase, or Barclay Arrival+.  No international fees, chip cards, and I think the Arrival + is a chip and PIN card (I know I have one, and I think it's the Barclay card).  It's very common to need to use unattended kiosks for things like train fare or gas, and these machines usually require a chip and a PIN.  Even though US banks are finally sending out chip cards, most of them do not have a PIN number option yet (they are chip and signature only).

[Bbqmustache]

At age 16, we are not going through the cc hassle, nor are we cc fans.  A dave ramsey fan here.

[beltim]

This reminds me of the people who get angry when they attempt to use cards in Europe without a chip, but the cashier won't run the card because they've never been trained to use the magnetic strip feature of cards before.  Even though the customer is right, and Mastercard/Visa technically require the merchant to accept payment like that, arguing with the cashier looks to the cashier looks a lot like fraud to the cashier because of their inexperience.

So, I have no idea about the answer to your question - whether you can get cash advances in European banks the same way you do at banks in the US.  But I would recommend coming up with a backup strategy in case it doesn't work, or in case it doesn't work in all of the countries your daughter will go to.  Your current strategy is esoteric enough that I don't think you should rely on it.

[Katsplaying]

Some banks (Chase) charge fees commensurate with the advance when you go to a different institution for that cash advance. Very rude surprise when I got that statement.

YMMV but read the fine print.

[Bbqmustache]

No cash advance fees of debit card advances, at least not here in the states.  Backup is going to bank ATM, withdrawing larger sums less often (ie:  one $100 withdrawal is $5.00 fee, whereas five $20 withdrawals will award you $25 in extra fees).

[Blonde Lawyer]

No cash advance fees of debit card advances, at least not here in the states.  Backup is going to bank ATM, withdrawing larger sums less often (ie:  one $100 withdrawal is $5.00 fee, whereas five $20 withdrawals will award you $25 in extra fees).

I don't think this is correct.  Whether a fee is charged depends on the bank.
http://www.mybanktracker.com/news/when-to-use-debit-card-cash-advance

[kvaruni]

Besides the conversion fee and the 1% international fee, her bank charges her $5 every time she uses an ATM outside the US.  Big behemoth bank, so card should be a chipped card.

Regardless of how you get the cash, you will still be hit by the conversion fee and the international fee. Whether or not you will be charged the $5 is, as you mention, dependent on the bank you are with. In my experience, if you enter a branch in Europe to ask for cash, they will just refer you to the ATM around the corner. Unless you are a customer of the bank, chances are slim they will give you out cash unless something is wrong with the ATM. This is such a typical way of getting money in Europe that people over here don't even think about it.

Going into a bank office and asking a bank employee for a cash advance is MUCH less risky than using an ATM [...]

If you say so.

But why make it all so hard? Figure out how much cash you need. Make one withdrawal when arriving. Simples.

[KCM5]

I'd get her a credit card with no international fees just for the trip. I get that you're "not a fan" but either you use the best tool for the job or you pay the price, in this case paying extra fees.

Best case scenario, she goes to an atm and draws money, but she'll probably draw too little or too much. And you're dealing with three currencies (Switzerland and Czech Republic are not on the Euro). That's a lot of fees ($5/draw and 1%!).

[frugaliknowit]

Based on my last visit to Amsterdam and Cologne, Germany in 2011, your best bet is an ATM card which does not charge (or reimburses) for ATM fees and does not charge exchange fees.  The reason is many Euro locations do not take magnetic cards.  Smaller merchants often resist by saying "internet is down". I found the Dutch and German Bank ATM's (not the cheesy one's owned by 3rd parties) had excellent exchange rates.

This kind of arrangement is more likely with a smaller bank.  Not Chase or Citi, for example.  At that time, Chase wanted $5 per ATM withdrawl, plus an exchange fee (yikes!).

As far as "cash advances", these typically involve fees and they involve going into a branch during business hours and potentially waiting on line...

[Sid Hoffman]

Smaller merchants often resist by saying "internet is down".

Ha!  I had that one pulled on me twice, or maybe even 3 times on my last trip to Europe.  So in a span of only 8 or 9 days and not that many merchants we had 3 claim they couldn't run credit cards at this time.  Since one was in France, where taxes are insane and the other was in Italy, which is legendary for tax fraud, we figured they were choosing to do cash because that's the easiest way to engage in tax evasion.