about to study abroad in spain for 6 months. Question about banking

[Kevin1211]

So this is pretty random. But I am doing a study abroad trip for the spring semester in Madrid. Is it worth opening up a new bank account so i wont incur fees everytime i withdraw money? I've heard from quite a few friends that they opened up a BoA account and they were not charged any international fees/additional fees when they withdrew from BoA's affiliates (via the Global ATM Alliance). However, I called BoA and they said the affiliates (i.e. Barclays, Deutsche Bank, etc) only waive the internationals fees in the respective bank's country. But I am getting contradicted reports from friends. Can anyone attest to this?

 

[Greenman]

I think you should study a few a few broads here at home first.

 

[busydude]

Since you are staying for a few months in a city.. its best you take a traveler's check and open an account at a local bank in Madrid.

I used a demand draft first time when I came to US from India and opened an account at a local bank, you might also look into that.

 

[0roo0roo]

aren't things all messed up there?

 

[AznAnarchy99]

When I went to spain and france I just withdrew from their partner banks in those countries and they didnt charge.

 

[Kevin1211]

When I went to spain and france I just withdrew from their partner banks in those countries and they didnt charge.

What bank are you? BoA? I called BoA and they said otherwise.. argh.. im so confused

 

[AznAnarchy99]

What bank are you? BoA? I called BoA and they said otherwise.. argh.. im so confused

Yup boa. Unless they made some big changes since last year thats how I spent my money. It stated it out on their site. Id find it for you but I'm on my.phone.

 

[AznAnarchy99]

Here you go. Gota call them and let them know that you are going out of country. 8778335617

http://www.bankofamerica.com/deposits/checksave/index.cfm?template=lc_faq_ATM#qn64

There is a list of banks that you can.use without charge..apparently there are no banks in spain that have no fees with boa. I remember now, I withdrew all the money I needed in france before I left to.spain yo avoid the charges.

 

[Kevin1211]

Here you go. Gota call them and let them know that you are going out of country. 8778335617

http://www.bankofamerica.com/deposits/checksave/index.cfm?template=lc_faq_ATM#qn64

There is a list of banks that you can.use without charge..apparently there are no banks in spain that have no fees with boa. I remember now, I withdrew all the money I needed in france before I left to.spain yo avoid the charges.

ah ok. That's what I was told too. So there's basically no point in opening up a bank of america account then.

 

[AznAnarchy99]

Yea your gonna get hit with fees unless you wanna take a trip to france when you wanna withdraw

 

[Kevin1211]

yeah i dunno if its worth opening up a BoA bank account. Ill be travelling all throughout europe. Any insights you, or anyone, can offer?

 

[eits]

you're about to study abroad? what's her name?

 

[thepd7]

you're about to study abroad? what's her name?

way late

 

[PhoKingGuy]

Open a free checking account with HSBC, they have branches all over Europe, worked perfectly for me when I studied abroad for 4 months in England.

Withdrew cash charge free in France/Italy/Germany/Spain with no problems.

 

[Kevin1211]

Open a free checking account with HSBC, they have branches all over Europe, worked perfectly for me when I studied abroad for 4 months in England.

Withdrew cash charge free in France/Italy/Germany/Spain with no problems.

ah HSBC. Thanks. For some reason i didnt think of HSBC. Thanks man

 

[OulOat]

You can open an account with Schwab. Their checking will refund fees incur with ATM withdrawals anywhere in the world. It usually happens automatically, but I keep the receipts just in case. When I was over there, I had no problems withdrawing money from my account.