Bank Debit Card

[ARTILLARY]

I recently received a standard visa bank dedit card. Will it work ok in the ATM machines in Ukraine? There's only a $200 limit on it so I don't fear using it abroad. It will also be ok if my fiancee uses it.

[MNKenr]

... in response to Bank Debit Card, posted by ARTILLARY on Feb 1, 2005

If you have an ATM card with an american bank, there is no way they can limit the daily amout. Also the Ukraine ATM has no idea what your balance, or availalbe funds are. At least with Wells Fargo this was the case. It is possible to take out more than what is available then you get charged with over draft from the bank a day later.

Just be careful as explained to me by Wells fargo, the ATM machine in Ukraine can not sync up with your ATM account in the US, real time.

If this is a serious concern, then one option would be to open an account with an Ukraine bank that allows desposits or transfers over the internet. I have yet to find one myself, but that would be a solution.

If others have conflicting information, I would love to hear it.

MNKenr

[StanB2]

... in response to Bank Debit Card, posted by ARTILLARY on Feb 1, 2005

We gave our family in Ukraine a bank debit card and the total of transaction fees is $4 for each withdrawal. They can take the money from the ATM in US$ or in hryvnia. Way cheaper than any other method and very convenient too...

[WillMc]

... in response to Bank Debit Card, posted by ARTILLARY on Feb 1, 2005

$200 limit, is that a transaction limit or the total credit line?  I can't believe $200 will last very long even in Ukraine.

Be careful most debit cards allow for wthdrawal of all money in account and many have links to other accounts such as savings, home equity and credit cards.  A debit card can get you into big financial trouble if you are not VERY careful.

You might be better off with a low limit credit card.  If lost or stolen a quick call to the card issuer will protect you from big abuse.  I gave my son a card with a $1,000 limit and it worked well.

Which ever you use, you will get hit with currency conversion fees and more expensive than wholesale conversion rates.  I have found USAA to give the best rates and they charge no currency conversion transaction fees.  If you prepay a credit balance you can avoid most of the finance charges.  Some cards will not allow this though.  But if you pay the balance quickly, as soon as you return, you can keep the charges low.

When overseas I check my balance regularly either via the internet or 800 #s.  I have found very inexpensive Internet Cafes to be readily available.  Maybe not in small towns though.

Good luck!

[khersongirls]

... in response to Bank Debit Card, posted by ARTILLARY on Feb 1, 2005

I recommend opening a seperated saving account and get an ATM card to use for your fiancee. Do not put over draft protection on this account so you can limit the amount she takes.

Ukraine ATM support all major credit cards and debit cards.

[ARTILLARY]

... in response to Re: Bank Debit Card, posted by khersongirls on Feb 1, 2005

I didn't give all the details. I actually opened this account for my fiancee here. It will only ever have a maximum of $200 in it at one time and then there is a limit per day that can be drawn out. She'll be able to use what she needs each month. She has a good job, but as we all know, that for now, the best jobs don't pay much and she feels very indifferent to accept money from me. I convinced her this was the best way because of the cost of western union. I sent the card to her the other day and it'll be another week before she gets it. Several weeks ago, some of you gave me some great ideas about how to include a card in an envelop or package and I have utilized those ideas. Thanks. I was there just a few weeks ago but I hadn't received the bank card until now, so I couldn't give it to her personally. I'll admit it feels a bit strange to send a card in the mail, but she won't have the PIN until she has the card in hand. Now I hope she'll use it. She's a proud woman. It took me a week to convince her to retrieve money from western union the first time i sent it. When I told her how much it was to send it she hit the roof. If some you don't know, $100 is more than a months salary in many cases, so having to pay $20 to send $100 was ludicrous. Actually it was to me as well. I made mention to her to that it will be best if she draws out a minimum of $100 each month once per month. Then there will be only one charge to the account once a month. I guess now I'll see if she actually uses the card.