DS will be in yeshiva next year, outside of yerushalayim. I had assumed he can get cash and pay for things using his debit card, but I just found out that there are foreign transaction fees every time he uses his card at an ATM or point of sale.
He can use a credit card for a lot of things, but not all, and he will need to be able to get cash.
What is the best way for him to do this without racking up lots of fees?
DS will be in yeshiva next year, outside of yerushalayim. I had assumed he can get cash and pay for things using his debit card, but I just found out that there are foreign transaction fees every time he uses his card at an ATM or point of sale.
He can use a credit card for a lot of things, but not all, and he will need to be able to get cash.
What is the best way for him to do this without racking up lots of fees?
I opened a joint checking account with my son at Capital One 360. It's an online bank so you need Internet access to do it I could put money in at my end and my son was able to withdraw cash or pay with his debit card and there were no foreign transaction fees. If he has a smartphone, he can use the app to track how much money is in the account, if he doesn't, you will have to do it for him.
Hope this helps.
We opened a joint checking account with my son in TD Bank. He took along the atm card. We deposited money here. He would take it out there with no fees.
A lot of credit cards don’t have foreign exchange fees including Discover and Chase sapphire preferred. Not sure if you’re open to credit vs debit but something to consider.
I opened a joint checking account with my son at Capital One 360. It's an online bank so you need Internet access to do it I could put money in at my end and my son was able to withdraw cash or pay with his debit card and there were no foreign transaction fees. If he has a smartphone, he can use the app to track how much money is in the account, if he doesn't, you will have to do it for him.
Hope this helps.
Also used capital one, but it’s not an online bank. They have them all over Brooklyn and I’m sure other places as well.
