Foreign cash ATM using TD All Inclusive vs HSBC Premier

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.

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.

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.

HSBC works almost everytime for me. Forex fee is hard to assess, but I suspect its around 2% too.

Did HSBC Canada withdrawals in Japan at 7-Eleven Bank ATMs, no ATM fees, no foreign exchange fees. I'm HSBC Premier.

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?

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.

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?

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.

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...

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?

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.

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.

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.

For hsbc you can compare rates from https://www.mastercard.us/en-us/consume ... rency.html

And for TD you can find visas page for calculation.

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..