Personal Finance

Foreign cash ATM using TD All Inclusive vs HSBC Premier

  • Last Updated:
  • Jun 1st, 2018 3:25 pm
[OP]
Member
Jan 13, 2002
441 posts
229 upvotes
Toronto

Foreign cash ATM using TD All Inclusive vs HSBC Premier

Any real world experience re HSBC Premier vs TD AI foreign ATM use? Both reimburse ATM fee, any difference in Forex fees?
16 replies
Deal Addict
Jul 3, 2017
3860 posts
2787 upvotes
I tried the TD bank card in a few foreign ATMs. Didn't work at all, so no way to tell. Don't count on it as your primary source of funds until you have a chance to test it in your particular destination country.
Newbie
Feb 26, 2015
67 posts
32 upvotes
Montreal, QC
TD does not reimburse the fee charged by the atm. They simply will not charge you a fee on top of that. So, depending on the country or bank there may still be a fee when you take out cash. Unlike Exp315, I have use my TD debit card to take out cash at a dozen different countries in South America and Europe without issue.
Sr. Member
Feb 1, 2018
959 posts
1098 upvotes
Montréal
Remember that TD is also charging 2.5% on the exchange. They just don't charge a per-transaction fee on top of this.

Having said that, it's my main source of ATM funds when I travel. In 50+ countries, I've only had trouble in 1 or 2. You may have to ask around to find out which ATMs accept foreign cards. I always recommend having two cards -- one Plus, one Cirrus -- just in case. (My backup card is Tangerine). And a bit of USD emergency cash, just in case.
Member
Feb 13, 2015
215 posts
81 upvotes
Toronto
HSBC works almost everytime for me. Forex fee is hard to assess, but I suspect its around 2% too.
Sr. Member
Aug 27, 2013
569 posts
287 upvotes
cloud
Did HSBC Canada withdrawals in Japan at 7-Eleven Bank ATMs, no ATM fees, no foreign exchange fees. I'm HSBC Premier.
Sr. Member
Jan 30, 2013
883 posts
189 upvotes
RICHMOND HILL
cmchiu wrote: Did HSBC Canada withdrawals in Japan at 7-Eleven Bank ATMs, no ATM fees, no foreign exchange fees. I'm HSBC Premier.
what exchange rate did you get?
last time I did it the exchange rate {in Seoul }was not very good in Korea
is it from Debit card or pre-loaded credit card?
Sr. Member
Aug 27, 2013
569 posts
287 upvotes
cloud
goldenball wrote: what exchange rate did you get?
last time I did it the exchange rate {in Seoul }was not very good in Korea
is it from Debit card or pre-loaded credit card?
It was with my debit card, withdrew from my chequing account. Exchange rate was very good, if I recall correctly it was within 1% of the buy-sell middle rate I saw in my exchange rate app.
Deal Addict
Mar 1, 2016
1092 posts
397 upvotes
toronto
cmchiu wrote: It was with my debit card, withdrew from my chequing account. Exchange rate was very good, if I recall correctly it was within 1% of the buy-sell middle rate I saw in my exchange rate app.

so how is that NO foreign exchange fee?
Sr. Member
User avatar
May 7, 2017
992 posts
526 upvotes
foreigncontent wrote:
so how is that NO foreign exchange fee?
They don’t have forex fee on Premier debit cards as far as I know. The rate is set by mastercard per day so it’s slightly off of floating rate.
Sr. Member
Aug 27, 2013
569 posts
287 upvotes
cloud
foreigncontent wrote:
so how is that NO foreign exchange fee?
The diff very between the buy rate and sell rate is the "spread", but exchange rate apps show the mid point between those 2 rates. E.g. when app says USD-CAD is at 1.2500 the buy/sell rate could be 1.2450/1.2550, with the spread depending on the bank. I only saw this spread when I made the withdrawal in Japan.

If the bank charges a 2.5% foreign exchange fee, the rates in this example would be 1.2138/1.2864. Would be a big difference and easy to notice...
Member
Jun 25, 2007
287 posts
92 upvotes
cmchiu wrote: It was with my debit card, withdrew from my chequing account. Exchange rate was very good, if I recall correctly it was within 1% of the buy-sell middle rate I saw in my exchange rate app.
I also have HSBC premier as well, do you know if HSBC charge foreign ATM fees or is it waived for premier account?
Sr. Member
Aug 27, 2013
569 posts
287 upvotes
cloud
fayya wrote: I also have HSBC premier as well, do you know if HSBC charge foreign ATM fees or is it waived for premier account?
Page 2 of 19 on the current HSBC Canada Statement of Disclosure PDF says there's no HSBC Canada charge for Premier clients (using Premier Debit card) on foreign ATM withdraw from ATMs displaying the Cirrus logo.

Note that the foreign bank local to that location that owns the ATM may charge an ATM fee though, but they usually tell you the fee and ask you to confirm on the ATM before the withdrawal goes through.
Sr. Member
Jan 30, 2013
883 posts
189 upvotes
RICHMOND HILL
does it say no HSBC fees or no HSBC foreign exchange charge?
I did the same in Seoul with my premier HSBC debit card and the exchange rate was not that great, worse than my my HSBC USA premier CC which does not charge a fx transaction fee,taking into account the usd cad differences.
Sr. Member
User avatar
May 7, 2017
992 posts
526 upvotes
goldenball wrote: does it say no HSBC fees or no HSBC foreign exchange charge?
I did the same in Seoul with my premier HSBC debit card and the exchange rate was not that great, worse than my my HSBC USA premier CC which does not charge a fx transaction fee,taking into account the usd cad differences.
Don’t check against a CC. They have different settlement date etc.

Check MasterCard website for fx rate on a date and compare.

I don’t think hsbc Premier has fx fee or otherwise but I have yet to use it for cash abroad.
[OP]
Member
Jan 13, 2002
441 posts
229 upvotes
Toronto
cmchiu wrote: It was with my debit card, withdrew from my chequing account. Exchange rate was very good, if I recall correctly it was within 1% of the buy-sell middle rate I saw in my exchange rate app.
Real world comparison:

I used HSBC Premier credit card in New York City, and then took out $100 US Cash using an HSBC ATM: (On May 30/18) both at same time of day

HSBC ATM: $131.55 for $100.

HSBC Premier Mastercard: $130.35 for $100 US transaction.

So an extra 1% or so compared to credit card, (no ATM fees since it was an HSBC machine).. not bad for a cash withdrawal..

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