Personal Finance

Fee-free ATM Cards in Canada?

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  • Oct 2nd, 2016 5:06 pm
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Member
Jun 26, 2012
284 posts
120 upvotes
Toronto
foreigncontent wrote:
djskynet wrote:
foreigncontent wrote:

actually this got me curious, so US ATM don't charge you for usage when you are from another bank? (not taking about your account charge, but the ATM charge which are common around the world by just grossing the amount of the withdrawal...)
Charging customers from other bank for using ATM is definitely not "common around the world". This is pretty much a Canadian thing. I have traveled extensively around the world and most countries in Asia and Europe do not apply such fee. Your bank might charge you for using other banks' ATM but that's about it in many countries
interesting that you start only in Canada ("Canadian thing"), to most common, to one continent, and most country in one continent (which i am not convinced, but i haven't been to most of the 'Stans so this might tilt the balance)....


i guess i have been to a different world. regularly asked for extra fees from ATM in Iceland, Thailand, Malaysia, Laos, Cambodia, Vietnam, Australia, New Zealand at least one time (ANZ, never tried them again), Fiji, South America, Africa was a while back, but i know some fees have been introduced (Barcleys for example).

so clearly don't think it's a "canadian thing"....


(australian perspective on subject https://www.finder.com.au/atm-usage-fee ... -the-world )
I have to say, I also have a bank card issued by a European bank and mostly used that one when traveling. Over the past few years, been to Asia (Japan, Korea, China, Vietnam, Thailand) Europe (most of the 28 EU countries plus turkey and Iceland), South Pacific (Polynesia), Africa (South Africa), and I can't remember when was the last time I was charged a fee (and have used my Canadian card a few times). Many banks have agreements to have those fees waived including some Canadian banks such as Scotia with the Global ATM alliance.

Maybe it is more common than what I inially thought but there are ways to avoid it in most countries
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Mar 1, 2016
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djskynet wrote:
foreigncontent wrote:
djskynet wrote:

Charging customers from other bank for using ATM is definitely not "common around the world". This is pretty much a Canadian thing. I have traveled extensively around the world and most countries in Asia and Europe do not apply such fee. Your bank might charge you for using other banks' ATM but that's about it in many countries
interesting that you start only in Canada ("Canadian thing"), to most common, to one continent, and most country in one continent (which i am not convinced, but i haven't been to most of the 'Stans so this might tilt the balance)....


i guess i have been to a different world. regularly asked for extra fees from ATM in Iceland, Thailand, Malaysia, Laos, Cambodia, Vietnam, Australia, New Zealand at least one time (ANZ, never tried them again), Fiji, South America, Africa was a while back, but i know some fees have been introduced (Barcleys for example).

so clearly don't think it's a "canadian thing"....


(australian perspective on subject https://www.finder.com.au/atm-usage-fee ... -the-world )
I have to say, I also have a bank card issued by a European bank and mostly used that one when traveling. Over the past few years, been to Asia (Japan, Korea, China, Vietnam, Thailand) Europe (most of the 28 EU countries plus turkey and Iceland), South Pacific (Polynesia), Africa (South Africa), and I can't remember when was the last time I was charged a fee (and have used my Canadian card a few times). Many banks have agreements to have those fees waived including some Canadian banks such as Scotia with the Global ATM alliance.

Maybe it is more common than what I inially thought but there are ways to avoid it in most countries

curious what European bank you have that you are not charged fee at any other banks in Europe.

and using Global ATM then you are charged Fx fees, so they are not truly a fee free option, you are paying more to avoid a fee if you withdraw anything over $100-200...


not saying you can't avoid withdrawal fees (and they get you elsewhere) , but it's never a no fee account like OP seems to have in US
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Aug 8, 2012
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brunes wrote: My own $0.02 is get used to paying by Mastercard/Visa/Debit and stop worrying about cash in the first place (as of June, 77% of people in Canada prefer electronic payments to cash). The only places I EVER use cash are the local farmers market, dollarama, and parking meters (and even the parking meters is fading now that I can pay with an app). Canada is a near cash-free society.

Also you can get up to $100 cash-back for free when buying anything with debit at pretty much any grocery store or Walmart.

I use an ATM maybe once, MAX twice a month. Whenever I go out of my way to use an ATM, I make sure to withdraw a bunch so I don't have to waste time doing it again.
Dollarama takes plastic now :) Not sure if credit, but definitely my wife used debit there.
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foreigncontent wrote:
djskynet wrote:
foreigncontent wrote:

interesting that you start only in Canada ("Canadian thing"), to most common, to one continent, and most country in one continent (which i am not convinced, but i haven't been to most of the 'Stans so this might tilt the balance)....


i guess i have been to a different world. regularly asked for extra fees from ATM in Iceland, Thailand, Malaysia, Laos, Cambodia, Vietnam, Australia, New Zealand at least one time (ANZ, never tried them again), Fiji, South America, Africa was a while back, but i know some fees have been introduced (Barcleys for example).

so clearly don't think it's a "canadian thing"....


(australian perspective on subject https://www.finder.com.au/atm-usage-fee ... -the-world )
I have to say, I also have a bank card issued by a European bank and mostly used that one when traveling. Over the past few years, been to Asia (Japan, Korea, China, Vietnam, Thailand) Europe (most of the 28 EU countries plus turkey and Iceland), South Pacific (Polynesia), Africa (South Africa), and I can't remember when was the last time I was charged a fee (and have used my Canadian card a few times). Many banks have agreements to have those fees waived including some Canadian banks such as Scotia with the Global ATM alliance.

Maybe it is more common than what I inially thought but there are ways to avoid it in most countries

curious what European bank you have that you are not charged fee at any other banks in Europe.

and using Global ATM then you are charged Fx fees, so they are not truly a fee free option, you are paying more to avoid a fee if you withdraw anything over $100-200...


not saying you can't avoid withdrawal fees (and they get you elsewhere) , but it's never a no fee account like OP seems to have in US
You should forget about the FX because withdrawing with a US card outside the US isn't what you were comparing to, OP would have that outside the US too.

If a EU bank lets you withdraw EUR across Europe without being dinged fees then that is comparable.

If other poster has a EU account with Global Alliance member and only uses that card or Scotia/Tangerine at Global Alliance members that explains him not encountering surcharges though :)

I also don't think it is common in the US to have an account that lets you use ANY ATM for free, otherwise Alliant credit union wouldn't advertise* a feature of their account as being the ability to use their debit card at any ATM and get the surcharges rebated to you :) They also mention a network of surcharge-free ATMs**.

I'd say it varies bank to bank, and most common would be for you to be dinged fees. I tried every ATM I could find in my local border town in WA state and only one was surcharge free, the others were all $2, $2.50 or $3.

My local BofA branch closed and the next nearest one is an extra 15-20 minute drive deeper into the US so I've done this research :-)
In addition to the ATM's surcharge you've also got the fee from your bank for using an 'external' ATM ... LOL. US seems just like Canada in my experience.


EDIT:
Reference for Alliant: http://www.alliantcreditunion.org/bank/ ... ng-account
*"ATM Rebates up to $20/month for out-of-network ATMs (excludes 1% Visa foreign transaction fee)"
**"Over 80,000 surcharge-free ATMs"
POLL: How frequent is your RRSP-matching?
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Further Alliant info:
"59. Surcharge-free ATMs include Alliant-owned ATMs and ATMs that are part of the Alliance One, Allpoint, CO-OP Network, Credit Union 24 CU Here and Publix Presto networks. Transactions performed at other ATMs may be subject to the ATM owner’s surcharge fee. Not all ATMs accept deposits. Please see the online ATM Locator at www.alliantcreditunion.com or our mobile banking app for a list of ATMs that accept deposits or are surcharge-free."

Capital One checking seems to have a subset of these, plus 2000 of their own:
"360 checking lets you tap over 38,000 fee-free Allpoint® ATMAutomatic Teller Machines and 2,000 Capital One® ATMs"

Ally is similar:
"We reimburse up to $10 per statement cycle for fees charged at U.S. ATMs outside of the Allpoint® network."

... but they also reimburse you up to $10 for other use similar to how Alliant does up to $20.

So to go back to OP's original question ...
fpenguin wrote: I've been using ATM cards from CapitalOne or Ally from the States where ATM transactions are fee-free pretty much anywhere in the States.

Is there any Canadian bank that has similar offerings?
I tried taking money out from RBC ATM machines with my Scotia & BMO ATM cards, and it seems there is $3 extra charge.
No, I don't know of any off-hand that rebates you fees from surcharges like Ally and Alliant do. All the credit unions share ATM access though so that is similar to an "Allpoint" network but even then I think they are still not #1 in ATM coverage.

Tangerine, PCF, and EQ are banks you should check out if you like online banks.

EQ is online only, and PCF and Tangerine share ATM networks with their service provider/parent co.

PCF = CIBC ATM network (plus Loblaws/Superstores)
Tangerine = Scotia ATM network plus 7-Eleven stores
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Newbie
Aug 8, 2009
76 posts
4 upvotes
Canada
RBC'S VIP account is advertised as refunding the convenience fee and may be the answer to your question in terms of allowing you fee-free access. However it also has a $30 monthly fee.

HSBC's Premier account refunds 2 dollars currently which is a dollar short of the 3 dollar convenience fee.

I no longer have the HSBC account and I don't bank with RBC

Ramy

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