In some cases the reserve is $50 at a gas station. OK, granted that based on what you're driving and gas prices today, that's a tank of gas, but it's been that way for a while at some stations, because of not only the drive-away loss but also the chance that the credit card has been stolen. Credit cards don't process as fast as debit cards. With a debit card, the gas station isn't out the money because the bank has an "OK/not OK" switch of some kind that tells the gas station computer to go ahead with the transcation or kick it back. Visa/Mastercard/Discover/AmEx/etc don't generally do that for that small (relatively speaking) of a transaction. This, at least, is how I understand it works.
And using your PIN at a gas station or a grocery store terminal or some other sales outlet that does that is not the same as using a "foreign ATM". Many banks do charge a small fee for using your PIN (I know that TCF is 30 cents) at a store - a far cry from a $2.50 foreign ATM fee. If your bank/credit union/whatever charges a foreign ATM fee for every store purchase you use your PIN at instead of treating the card as a credit card - change banks, they're ripping you off.
Some banks do not charge a PIN fee - Washington Mutual is one such bank.
Ah. I know that I got charged a quarter for using it as a debit card on a telephone transaction, and assumed that was the foreign-ATM fee. Now I wonder what the actual foreign-ATM fee is ... I'm pretty sure it's not as high as $2.50 though. Yowza.
Oh, probably, but honestly it's rarely been an issue for me. A big part of the reason I moved my accounts to CC is because this area is lousy with their ATMS -- they're in the two closest airports to me, in lots of the shopping malls, in most (if not all) of the Giant supermarkets, and in the Metro stations that have ATMs. It's rare that I find myself someplace locally where I have to use a foreign ATM.
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And using your PIN at a gas station or a grocery store terminal or some other sales outlet that does that is not the same as using a "foreign ATM". Many banks do charge a small fee for using your PIN (I know that TCF is 30 cents) at a store - a far cry from a $2.50 foreign ATM fee. If your bank/credit union/whatever charges a foreign ATM fee for every store purchase you use your PIN at instead of treating the card as a credit card - change banks, they're ripping you off.
Some banks do not charge a PIN fee - Washington Mutual is one such bank.
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