A couple of readers have informed me that Ally Bank recently changed their policy on fee rebates on international ATMs for their Interest Checking account. I finally verified that this policy was indeed changed over the summer. I suppose it was too expensive a perk to give out (which is why you rarely see it) but it was a rather nice feature to have since ATMs provide rather good currency exchange rates. (Ally won’t charge an additional foreign transaction fee, but Visa will charge their standard 1%.)
I usually try to take all the cash I’ll need for an entire trip in one ATM visit and just take the ~$3-$5 hit once. You can still get foreign ATM fee rebates from a the brokerage checking accounts at Schwab and Fidelity (ATM with Visa/Plus/Star logo), although the interest rates they pay are pretty low (.10-.25%).
By Jonathan Ping | Banking | 8/16/11, 5:00am