Personal Finance

Can I withdraw money in the US with my debit card?

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  • Jun 5th, 2006 10:20 pm
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[OP]
Newbie
Nov 20, 2005
34 posts
Toronto

Can I withdraw money in the US with my debit card?

I'm planning to go on a trip to the US. Is it possible to use my CIBC debit card in US bank machines to withdraw US funds?
11 replies
Deal Addict
Mar 6, 2005
4801 posts
414 upvotes
For CIBC you want to look for a machine that carries the Plus logo (e.g. Bank of America). Look on the back of your bank card if you want to see what the logo looks like.

In addition if the retailer you are shipping at has an NYCE Logo then you can use your card there. They have an agreement with interac to process POS transactions with interac cards so you can use your card at that retailer just as you use it up here.

Also keep in mind that there are fees associated with using the foreign bank machine. For example TD Canada Trust charges $3/transaction everytime you withdraw cash using the Plus system. Using NYCE and getting cash back from the retailer (which is not uncommon in the US) you won't get dinged with this fee, so if you end up buying something you can also ask to see if they can give you cash back. Basically bottom line, withdraw what you think you need instead of say withdrawing $20, 5 times and getting hit with the fee every time.
Deal Addict
Sep 1, 2005
2469 posts
2 upvotes
I had a hell of a time trying to get a gas station to give me cash back on a debit purchase when I was in the US. I only wanted $20US to pay for camping/firewood I struck out at every gas station I filled at, ended up biting the built and usign a bank machine.
Deal Fanatic
Feb 21, 2006
5148 posts
97 upvotes
Yes, you can withdraw US$ cash at most ATMs in the USA with your Cdn debit card. Interac is available on many bank machines. Others offer Plus (the Visa International system) or Cirrus (the Mastercard International system) - you may have one of those on your bank card as well.

Your bank will probably charge you a fee of about $3 for a foreign ATM withdrawal. They will also charge you about 4% for currency exchange, same as a credit card transaction.

You should also be aware that many non-bank ATMs in the USA charge exhorbitant additional fees of their own (anything from $3-6), so watch the screen carefully for additional charges if you have to use one of them.

In other words, if you take out $100, you may pay $10 or more in fees. You're paying for convenience.
Jr. Member
Mar 16, 2006
135 posts
tkyoshi wrote:Also keep in mind that there are fees associated with using the foreign bank machine. For example TD Canada Trust charges $3/transaction everytime you withdraw cash using the Plus system.
Increased to $5 as of May 1st. Most Canadian banks charge $5 for PLUS or Cirrus/Maestro transactions now. If they don't yet, they will soon.

EDIT: Scratch that. Only increased to $5 outside the US and Mexico. It is still $3 for North America.
Deal Addict
Feb 21, 2004
1035 posts
40 upvotes
Montreal
If i remember, you can use your INGDIRECT card to withdraw too..

they cover 4 free transactions per month

One CSR told me that even applied in the US...but I've never actually tried it.
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Deal Addict
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Oct 28, 2005
2006 posts
104 upvotes
HoTiCE_ wrote:If i remember, you can use your INGDIRECT card to withdraw too..

they cover 4 free transactions per month

One CSR told me that even applied in the US...but I've never actually tried it.
The fee is not a charge from ING but the PLUS network(or whoever the network is). Better get some US $$Cash before you go, you'll get the worst exchange rate if you get cash from the ATM and don't forget about the transaction fee.
Member
User avatar
Mar 17, 2004
428 posts
2 upvotes
Toronto
I used my CIBC debit in san andres island, a really small island in the carribean..it should work in the usa..
Member
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Nov 28, 2002
408 posts
7 upvotes
Yeah, I used a debit card in Burbank last winter for cab fare back to downtown LA, I think it was $3 maybe $3.50 fee plus exchange (CAD account, machine spits out USD cash). Can't recall if it was BMO or PCF, likely PCF which is CIBC anyway. I took US cash with me but ran low, being in a hurry is expensive, LOL. $40US for that cab ride.
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Feb 28, 2005
1761 posts
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Montreal
i used my TD debit card in vietnam at hsbc, worked fine
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Dec 24, 2004
10708 posts
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bank of america has a deal with scotiabank , no fees for ATM withdrawls in both directions(canada/usa)
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