Banking Abroad

[Paul L]

Mike,
The USAA site says they charge:
Foreign Transaction 1% of each transaction in U.S. dollars.
I'm looking to try and avoid that. Are you getting it with it on each transaction?

Paul L

[Troubadour52993]

I agree with YOGAO on USAA - they are the best! Not only all the things mentioned (the bill paying is free, too), the ability to deposit a hard copy check by scanner has been awesome. Nothing like receiving a check in my forwarded mail and the local banks want me to open an account to cash it, or charge me $$ for the privledge. Now they (USAA) also have an Iphone app that all you have to do is take a photo of the check to deposit it! If I had one of those gadgets, that would be the bomb!

For people that are online saavy and don't want to wait for USAA to forward them the bill pay check, or that want to pay me by credit card for something, Paypal has been good. Their fees cut a bit, but I don't know of an easier way to accept credit cards.

USAA recently opened their eligibility to all honorably discharged veterans. The only service that I've seen that NFCU beats USAA on is mortgage rates, not an issue now that I don't have a mortgage anymore.

[YOGAO]

Originally Posted by Paul L

Mike,
The USAA site says they charge:
Foreign Transaction 1% of each transaction in U.S. dollars.
I'm looking to try and avoid that. Are you getting it with it on each transaction?

Paul L

Paul,

I don't see that they are since it is not spelled out on my statements as a fee. However, it could be bundled into the exchange rate used when they debit my account. Regardless, we mostly use the card to access the ATM and we only do that a couple times/month. For purchases where I use a credit card I use a different card that gives me other benefits.

Fair Winds,
Mike

[Silverbow]

yogao... thanks very much. We were wondering how that all worked. Do you have two USAA accounts or just the one? Do yo do the two bank process?

... and I see you are Catamaran Cruiser also =)

Thanks very much!

Cal

[YOGAO]

Two hulls. One account. Others have one hull and two accounts, go figure.

We don't use the "two bank process". I can see some advantages, but I'm too stoopid to remember to refill a debit account.

Fair Winds,
Mike

[UWOA]

Originally Posted by Silverbow

Since I am prior service, ARMY, not Navy, would it be worth while to get a Navy Federal Credit Union account? I read Suzanne Geissemann's books and her and her husband (NOTE: making serious pension retirement cash) used the Navy bases a lot.

Again thanks!

I'm retired Army also and have used the bank ATM at Rota, Spain with no problem, so you shouldn't have to establish an account at a Navy base (It's basically the same at every base the US has/uses on the Continent.) The only thing I can think that might limit you is a particular SOFA agreement, but I'm not aware of any ....

De Oppresso Liber (SF)