What is the best Canadian bank to use when withdrawing from European ATMs?
Debit cards are apparently the way to go when traveling in Europe these days as the exchange rates from the bank appear to be unbeatable. So I’m trying to figure out which Canadian bank has the least fees when you use your card abroad. Besides an ATM network access fee at the machine the bank will also charge one on their end. I have heard that some banks even charge a certain percentage for currency conversion. HSBC seems to be a good idea as they are a global bank with many locations worldwide and if you use one of their ATMs there are absolutely no fees (a fee for non HSBC ATMs). But they appear to have little or no representation in Italy, Spain, Germany, Austria, Belgium and the Netherlands. ScotiaBank has an agreement with the Global Alliance which covers banks in Germany, France, UK, and Spain but they charge for other ATM use. If you have a TD Select account (/mo) than all system fees are waived on their end but you will always be paying the local machine fee.
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The difference in fees won’t really make that much difference if you "max out;" get as much cash as you can with each withdrawal to avoid the fees.
Also, a heads up: Most European ATMs only allow a four-number PIN, and their keypads don’t have letters, so be sure to memorize the numbers if you use a word for your PIN.
Plus and Cirrus network cards are accepted almost everywhere.
City Bank !