Call the banks that issued your cards before you travel.
[QUOTE=Gabacho;2965682]ATMs always offer better exchange rates than money exchange kiosks. Make sure to use a debit card that doesn't charge any foreign ATM fees such as Capital One, Charles Schwab, or Fidelity and always make sure to decline the ATM exchange rate if it offers one.
Hope this helps.
-Gabacho.[/QUOTE]Take an hour or two before you travel to call your bank's customer service number. Let them know what countries you will be visiting and ask them to tell you fees for each card, credit and debit, you will be using:
1. ATM withdrawal fee (should be a fixed amount).
2. ATM foreign exchange fee (could be a fixed fee PLUS a % of the transaction amount).
3. If they refund any bank, or local bank / ATM fees.
4. Daily, weekly, monthly withdrawal limits.
5. Fees for using the card for a purchase (restaurant, retail store, service provider).
6. Foreign exchange fees on purchases.
7. For a credit card, ask about cash advance fees and limits.
8. Already noted: Do not accept local currency conversion on an ATM or POS Terminal. The local payment service provider will always add an upcharge (up to 3 or 4 %) to the exchange rate to generate additional revenue.
Next compare fees for using a debit versus credit card for each scenario. You may find that it is less expensive to take a cash advance on a credit card and then immediately make a payment on the card from your checking account to avoid additional interest charges (which compound daily).
Finally, make your least expensive card and method your primary card, but carry at least one more card from a different bank as a backup. Leave the backup in your hotel safe. Never put both cards in your wallet. If you lose your wallet or get robbed, you will still be able to do business. And consider getting a digital wallet account like PayPal or the local equivalent as well. These typically connect to your debit or credit card and your bank account and will let you send cash to others and (typically) local businesses without the need to carry your card with you. All you need is the app on your phone and Cell or WiFi service.