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« Last edited by BBPAPA on October 24, 2014, 10:06:21 AM »

Author Topic: ATM & Forex fees in Israel  (Read 99924 times)

Offline Jack out of the box

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Re: ATM & Forex fees in Israel
« Reply #460 on: March 18, 2018, 02:36:50 PM »
https://www.aspiration.com/summit?utm_campaign=summit&utm_source=adwords&utm_medium=search&utm_content=229750421405&utm_term=aspiration%20bank&loc=9016831&matchtype=b&network=g&placement=&gclid=EAIaIQobChMIg9DTmPT12QIVDrftCh2J7wB1EAAYASAAEgI0ivD_BwE

Looks like a potentially interesting option for those who travel often or living in Israel.
Unfortunately they don't offer PC check deposit. (Cap360 recently removed that option.) Question is whether they accept mobile deposits from outside the US.

Offline Mr. CC

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Re: ATM & Forex fees in Israel
« Reply #462 on: March 18, 2018, 03:41:55 PM »
Didn't see any mention of no forex fee's from them
Good point. See here
https://my.aspiration.com/faq/Banking-Summit-Checking%3ENo%3EFees%3EForeign-Transaction-Fees

Anytime a transaction is initiated in non-US currency, there is a Currency Conversion Assessment of 0.2%. If the transaction is done in another country, there is also a Cross-Border Transaction Fee of 0.9%. Thus, most of your foreign travel charges are going to have a rate of 1.1% - but remember, any ATM fees incurred will be reimbursed to you!

I think what they are trying to say is that if the ATM machine charges a service fee then it will be reimbursed but they themselves still charge 1.1% for a foreign-currency withdrawal in a foreign country.

I think we can call it quits here.

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Re: ATM & Forex fees in Israel
« Reply #463 on: March 26, 2018, 11:39:22 PM »
Im sorry for not reading through all 31 pages of posts but can someone please tell me what the benefit of using captial one over any other card that doesnt charge forex fees, and which cap1 card is it. also if its a cc then taking cash at an atm would be a cash advance so what are the limits (and fees) on that and how do the transactions show on the statement in usd or shekel? thanks

Offline sky121

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Re: ATM & Forex fees in Israel
« Reply #464 on: March 26, 2018, 11:51:32 PM »
Im sorry for not reading through all 31 pages of posts but can someone please tell me what the benefit of using captial one over any other card that doesnt charge forex fees, and which cap1 card is it. also if its a cc then taking cash at an atm would be a cash advance so what are the limits (and fees) on that and how do the transactions show on the statement in usd or shekel? thanks

It's a Capital One ATM card hooked up to their NO FEE online bank accounts.
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Re: ATM & Forex fees in Israel
« Reply #465 on: March 26, 2018, 11:54:02 PM »
It's called capital one 360 and its a debit card  not a credit card. Withdrawals show in USD. I don't know info about other cards.

Offline myi

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Re: ATM & Forex fees in Israel
« Reply #466 on: March 27, 2018, 12:01:19 AM »



Im sorry for not reading through all 31 pages of posts,

1. But can someone please tell me what the benefit of using captial one over any other card that doesnt charge forex fees?

2. which cap1 card is it?

3. If its a cc then taking cash at an atm would be a cash advance so what are the limits (and fees) on that?

4. How do the transactions show on the statement in usd or shekel? thanks
1. The benefit of using Capital One 360 debit card, is you don't need any minimum in your account vs TD or chase let's say you need to either have $2,500 in the account or for Chase you need a few thousand dollars to be able to waive all the foreign exchange fees and ATM fees.

2. As mentioned it's a Capital One 360 debit card you have to open up a bank account not a credit card, yes with Capital One you're not going to have a foreign exchange fee but you're going to be charged for withdrawing cash at an ATM(cash advance) and that's the reason why you need a debit card and not a credit card.

3. Yes that's correct withdrawing cash from a credit card would have limits and have fees, that would depend on each credit card what the limits are and what the fees are, but you are not going to worry about it since you want open up a debit card not a credit card!!

4. I can only tell you about my TD debit card as that's the only one I have used in Israel, I have went to Bank hapoalim, and random atms and have taken out thousands of shekel while it shows on my statement in u.s. dollars, while at other Banks you have an option to withdraw in dollar amount or shekel amount and on all statements you're going to see it post in US Dollars, you might be able to see how much shekal it was also but it's going to post in u.s. dollars if it's a u.s. card. 


   If you want to open up a TD bank account and use the debit card abroad you would want to make sure you have $2,500 or more each day and upgrading your account to a premier checking account which qualifies for having $2,500 or more on a daily basis, that allows you to take out funds abroad while TD refunding you for any non TD ATM fees as well as foreign transaction fees.
  Another option is to open up a Capital One 360 as you don't need any minimum balance in the account to open, so if you're going to ask me why did I use a TD Bank account versus Capital One 360 I'll tell you I was in Israel already while I had only a TD bank account and Chase bank account as my options were limited, leaving me with only option of upgrading my TD Bank account to a premier checking account by having $2,500 in the account on a daily basis.

 I hope I was able to answer your questions, if you have any other questions feel free to post back, I hope I was clear enough for you to understand me.
   
  PS don't expect an answer every time you ask when there is hundreds of pages to read through, your not going to always be spoon-fed , this time around it was a יום טוב present.
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Offline sky121

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Re: ATM & Forex fees in Israel
« Reply #467 on: March 27, 2018, 12:09:08 AM »
Cap 1 does charge ATM fees AFAIK.  Just no foreign transaction fees.
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Re: ATM & Forex fees in Israel
« Reply #468 on: March 27, 2018, 12:17:24 AM »
thanks everyone
@myi i appreciate the way you answered, although you should know the answer i expected was "too bad. read." i didnt think someone would do it, i was just hoping

Offline myi

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Re: ATM & Forex fees in Israel
« Reply #469 on: March 27, 2018, 12:23:11 AM »
Cap 1 does charge ATM fees AFAIK.  Just no foreign transaction fees.
Okay that can make sense I only have experience from a friend of mine using bank hapoalim and liumi, which are free.

  I plan on opening the card myself and doing a test run so I'll know for sure then.
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Re: ATM & Forex fees in Israel
« Reply #470 on: March 27, 2018, 12:28:09 AM »


thanks everyone
@myi i appreciate the way you answered, although you should know the answer i expected was "too bad. read." i didnt think someone would do it, i was just hoping

I felt bad as I was in the same situation before I knew anything about it, you can always ask but don't always expect an answer.
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Re: ATM & Forex fees in Israel
« Reply #471 on: March 27, 2018, 05:19:52 AM »
Cap 1 does charge ATM fees AFAIK.  Just no foreign transaction fees.
Capital One 360 does not charge ATM fees internationally.

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Re: ATM & Forex fees in Israel
« Reply #472 on: March 27, 2018, 05:21:13 AM »
1. The benefit of using Capital One 360 debit card, is you don't need any minimum in your account vs TD or chase let's say you need to either have $2,500 in the account or for Chase you need a few thousand dollars to be able to waive all the foreign exchange fees and ATM fees.

2. As mentioned it's a Capital One 360 debit card you have to open up a bank account not a credit card, yes with Capital One you're not going to have a foreign exchange fee but you're going to be charged for withdrawing cash at an ATM(cash advance) and that's the reason why you need a debit card and not a credit card.

3. Yes that's correct withdrawing cash from a credit card would have limits and have fees, that would depend on each credit card what the limits are and what the fees are, but you are not going to worry about it since you want open up a debit card not a credit card!!

4. I can only tell you about my TD debit card as that's the only one I have used in Israel, I have went to Bank hapoalim, and random atms and have taken out thousands of shekel while it shows on my statement in u.s. dollars, while at other Banks you have an option to withdraw in dollar amount or shekel amount and on all statements you're going to see it post in US Dollars, you might be able to see how much shekal it was also but it's going to post in u.s. dollars if it's a u.s. card. 


   If you want to open up a TD bank account and use the debit card abroad you would want to make sure you have $2,500 or more each day and upgrading your account to a premier checking account which qualifies for having $2,500 or more on a daily basis, that allows you to take out funds abroad while TD refunding you for any non TD ATM fees as well as foreign transaction fees.
  Another option is to open up a Capital One 360 as you don't need any minimum balance in the account to open, so if you're going to ask me why did I use a TD Bank account versus Capital One 360 I'll tell you I was in Israel already while I had only a TD bank account and Chase bank account as my options were limited, leaving me with only option of upgrading my TD Bank account to a premier checking account by having $2,500 in the account on a daily basis.

 I hope I was able to answer your questions, if you have any other questions feel free to post back, I hope I was clear enough for you to understand me.
   
  PS don't expect an answer every time you ask when there is hundreds of pages to read through, your not going to always be spoon-fed , this time around it was a יום טוב present.
You would need the 360 Checking account.

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Re: ATM & Forex fees in Israel
« Reply #473 on: March 27, 2018, 07:29:37 AM »
Capital One 360 does not charge ATM fees internationally.
They might not charge you anything but you still get charged from machine/bank and they don't reimburse AFAIK.

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Offline Mr. CC

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Re: ATM & Forex fees in Israel
« Reply #474 on: March 27, 2018, 08:30:02 AM »
They might not charge you anything but you still get charged from machine/bank and they don't reimburse AFAIK.
so withdraw from an ATM by a normal bank

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Re: ATM & Forex fees in Israel
« Reply #475 on: March 27, 2018, 08:49:10 AM »
so withdraw from an ATM by a normal bank
Even some normal banks charge you if I recall correctly.
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Re: ATM & Forex fees in Israel
« Reply #476 on: March 27, 2018, 03:59:44 PM »
Even some normal banks charge you if I recall correctly.
None of us experienced contributors on this thread are aware of such. The only exception we are aware of is freestanding Poalim machines not connected to a bank location. (There is one in Yerushalayim on Bar Ilan off Shmuel Hanavi.)

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Re: ATM & Forex fees in Israel
« Reply #477 on: March 27, 2018, 04:06:01 PM »
None of us experienced contributors on this thread are aware of such. The only exception we are aware of is freestanding Poalim machines not connected to a bank location. (There is one in Yerushalayim on Bar Ilan off Shmuel Hanavi.)
Got it. Thanks.
I only use the card occasionally when I'm in Israel. And once in a blue moon in other countries. 
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Offline MoYS

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Re: ATM & Forex fees in Israel
« Reply #478 on: March 27, 2018, 10:58:52 PM »
What do the banks base the currency exchange rate on, are some different than others?

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Re: ATM & Forex fees in Israel
« Reply #479 on: March 28, 2018, 03:51:32 AM »
What do the banks base the currency exchange rate on, are some different than others?
IINM it's set by the network (Visa, MC, etc.).