I've been doing some research in how to handle my banking while away. I need to open up some sort of account to hold my money in, and have a credit card or debit card ( probably both). I currently use Bank of America and Wachovia here in the states, and both of them charge hefty fees for using ATMs abroad (or did atleast on my last trip). There is alot of talk on the boards about Nationwide - but I'm under the impression this is for UK citizens only.

Is there something similar for those in the states? Im looking for a bank that has online access, and doesnt charge an arm and a leg to take money out while im abroad! (0% like Nationwide would be AWESOME!)

Sorry if this has been talked about before, but in my serach of the boards I could only find info on Nationwide!

Thanks in advance :-)

In regards to my previous post... has anyone tried netbank.com? Any feedback?

That netbank nearly sounds too good to be true!
And you know what goes with the rest of that line?
If not, it usually is.

Like, it seems to be just a web site, no reference to the company structure behind it, not even a company registration number.

I would be very sus and would in first instance if in US contact that FIDC mob and just see what they are all about.

We have a similar online bank in Australia called ING Direct and they are if memory serves me correct associated with a Dutch Banking Company.
You have to have a nominated account to transfer funds to and that does create problems in moving from country to country.

I have a few expat friends here in Lima that use netbank and are more than happy with it. For specifics, go to the expatperu.com forum and ask.

GoNorth - I know what you mean - it does sound too good to be true, but I assumed it probably was legit if things like that existed in other areas. But, you know what they say about assumptions....they make an ass out of u and me.

I'm still hoping they are legit -but will def do some background research before I send them my life savings to hold onto. What is the FIDC? (sorry for my naivete)

Untypical - thanks for the heads up about the peru board - I'll def check to see if anyone has used them there.

Anyone here use netbank or something similar?

I haven't used netbank, but I belong to a credit union, and I've used my debit card abroad many times without being charged any extra fees. Credit unions often charge their members lower fees than regular banks, so it might be worth investigating if you can join a credit union with a good fee structure for traveling.

kforkelly -- I think GoNorth meant the FDIC, the Federal Deposit Insurance Corporation. They basically insure banks such that if a bank fails, the FDIC will step in and make sure individual customers don't lose their money (up to $100k per account or per person, I think). I think they are also responsible for some regulation of banks.

I haven't looked into it yet, but a RTW traveller I know gave me this advice:

"Etrade online bank account and withdrawl from there. They never charge you any fees and reimburse you for fees that other banks charge you. If you withdrawl once a week for a year from foreign countries, this will end up saving you about $300."

If it turns up to be legitimate, please let us all know!

I just checked out their site:

"Unlimited ATM fee refunds: if a $5,000 balance is maintained; if you have $50,000 or more in linked bank and brokerage accounts; or, if you make at least 30 or more stock or options trades per quarter."

Oh. Well I guess everything has a catch. It would probably be a good idea to keep at least $5k in the account anyway for your return home (plane tix, settling back in, etc).

Thanx for looking into it though.... I just checked the site myself (don't know why I put it off so long), and found that they have great intrest rates too (1 year CDs @ 5.5%). I wonder if a CD would count as a linked account.

I was looking for a thread just like this - but it didn't help much. I'm looking for pretty much the exact same info.

The Visa I have right now earns miles (good) but charges 3% on all International Transactions (bad). I tried looking for a Euro-Visa (like a visa that issues it's funds in Euros, so at least while we're in Europe we don't have to pay the conversion fee) - but it's hard to figure out with language issues.

Has anyone had a Visa issued to them from a foreign-to-them bank? Belguim's banking websites seem to be the easiest to navigate and offer an English version... but I still can't tell if there is a conversion fee or what it is, or if I can apply from the States and have it sent to me. The one French website that was in English said I had to pick the card up at the bank...

I use a credit union (Think) that gives you 8 free withdrawls per month from anywhere in the world. The trick is becoming a member, as generally only IBM employees and their families can join. However, maybe there are other credit unions in your area with similar offers that anyone can join. It's worth looking into at least.

I actually stopped at my local credit union after work today, to check everything out.

They too, offer 8 free out of network ATM withdrawals a month. After that, their is a $1.00 fee.

In terms of international transactions, they offer the going exchange rate + 1%, which I believe is pretty ok?
From what I have gathered from different posts, most banks offering a visa check card will offer atleast 1% transaction fee. (Is that correct?)

So all in all, unless I find something in the next week, I will probably end up going with the credit union.
Thanks for the suggestions, everyone!