Can you use a debit/credit card that has USD overseas where they do not?
My bank is USAA. How does all of that work.
This depends a bit on where your going. Some places are very much cash cultures, and even though you might be able to use a debit card technically, very few places will accept it. For example, I spent two weeks in China last summer. Some large businesses (hotels, airlines, chain restaurants) would accept mu debit card, but a lot of smaller vendors, stores, and restaurants just worked on a cash basis.
When I went to England five years ago, I had very much the opposite experience. It was like being in the U.S. I carried a little cash on me for small purchases (like food from a street vendor), but I used a credit card for anything substantial.
When you swipe your card, your bank will convert the amount based on the current conversion rate between USD and the target currency. They'll also typically charge you a fee (1%, maybe 3%) for the currency exchange. Your bank should be able to tell you what that fee is.
It works the same way with ATMs. You can withdraw money in the local currency using your American debit card.
Absolutely amazing! Exactly what I wanted to know.
If you ever have to buy something internationally online, the same basic rules apply. The bank handles the exchange for you. One more thing: it never works with bank cards that do not have a major credit card company's logo on them.
In the Philippines All bank atm,will take the card and give you cash up to your daily limit on the card
local bank rules apply, like no over the counter cash.
by Susan Reid 7 years ago
JP Morgan Chase is considering capping debit card transactions to $100 or even $50. It's all about fees they charge per transaction, currently $.44 and proposed to be slashed by Congress to $.12.That's a big hit for banks, yes.But after years of "training" us to swipe our debit cards...
by StricktlyDating 3 years ago
With overseas travel is it better to take travellers cheques or a credit card?Which have you found secure and convenient?
by j.amie 7 years ago
Do you carry cash? I have become so accustomed to using a debit card for everything that I never have cash with me when I need it!
by Darwin S. Carcha 5 years ago
Which is better to acquire, a Credit Card or Debit Card? Why?I'm looking forward to have either credit or debit card, but as of now I'm curious which will give better offer. Thanks for your help.
by lovelydog 6 years ago
Why do Americans prefer to pay their deals with credit card rather than debit card?
by blueorpurple 7 years ago
Credit card or cash! what should I use more?
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