Banks and money abroad

ooh...for once a question that I can answer.

1. Depends on the bank - the bigger banks (debit card), like Bank of America or Capital One, or credit cards have International Collect numbers. The little banks (credit unions, etc.) only have 1-800 numbers that are not toll free outside the US or Canada.

2. She can access her bank account via ATM (within limits - I think it's $500, but depends on the bank). To make it realistic, add a line saying that she had put in a 'notification of travel' with the credit/debit card prior to leaving (if you don't, some banks won't authorize the transaction.) If the person deposited 'cash' into her account, she would theoretically have immediate access to it (transfers/checks take a day or two to clear and become usable).

For larger amounts, Western Union would be faster.

1) Besides a 800 number, a bank will have a local number, which if you're traveling you should know. (Even within the US. My bank's 800 number does not operate outside of New England.) It may be on the back of your ATM card, but probably would be on the bank's website. You can also use international directory assistance (pricey). Basically you dial the access code for an international call, then the country code, then the local number. For example, if I was calling my bank in New Hampshire, it would be something like 011-1-603-555-1212 (if I remember right -- personally I use email internationally and I'm trying to remember this from Europe to the US). The "1" changes depending upon the time zone you are calling in the US. Depending upon where in the world you're calling to and from, it can be as simple as calling your local pizza shop to order dinner.

2) If she has an ATM card with international privileges (understand that her cell phone might also lack international privileges), that's the easiest way to do it. Fees will be tacked on to this transaction. For a cash deposit, it will mainly depend upon the update speed of the processing system that the bank uses. It can be literally as quick as a minute, to several hours. Most likely within an hour.

Western Union is within a few hours, but is a lot more complicated. Her passport will be required to pick it up, as far as I know. She'll have to go to a location where Western Union provides services, which in some countries might be only one location. I'd go with American Express instead, but this requires a previous account with them.

Best of luck,

Jim Clark-Dawe

What's the question, and how much money is she looking for?

Not sure if this is helpful, but when we went overseas, we had to open an account with Bank of America, because our local bank would have charged outrageous fees for withdrawing cash abroad. We also had to get European SM cards for our cellphones, because otherwise they wouldn't work.

Western Union has a feature that allows you to collect your money without a passport or identification. It's meant for people who've been robbed or otherwise lost their ID. As I recall, you give them a password and your bank account info, and then when you pick up your money, you give them that same password to prove who you are. My MC used this feature when she found herself in Egypt with no passport and no money. I don't recall how long it takes for the money transfer, but I don't imagine it would take more than an hour or two.

This is easy. Pick a bank which operates world wide, or give her an American Express card.

ATM cards with a Visa/MasterCard brand are quite usable in Europe and other locations. There are some serious fees, but it's an emergency so who cares?

Banks like Citibank, Bank of America, etc. are well represented overseas as well. Those cards are easy to use. Many banks also have associate banks over seas. Notifying the bank of your travel plans keeps you from getting blocked as a suspicious transaction.

Most large hotels will also help their clients with money transfers. A US consulate can help, but mostly with providing proper ID and replacement documents.

Have a good trip. Even if it's in your story.

Jeff

Another thing to note: standard US credit cards and bank cards won't work in European ATMs. Some businesses won't accept them, either. European cards have a microchip built into them, along with a 6-digit pin number that you must use. Over here, cards don't use the "chip and pin" system. (We're considered quaint for still using magnetic swipe cards.) When we were visiting England and France, we had to specifically ask, "Do you take an American swipe card?" And we could only use specific ATMs that worked with our Bank of America card. (My husband could explain this in better detail, if you need more info. Or you could Google "chip and pin card" and see if you can find a website that explains it.)

Orianna2000 said:

Another thing to note: standard US credit cards and bank cards won't work in European ATMs. Some businesses won't accept them, either. European cards have a microchip built into them, along with a 6-digit pin number that you must use. Over here, cards don't use the "chip and pin" system. (We're considered quaint for still using magnetic swipe cards.) When we were visiting England and France, we had to specifically ask, "Do you take an American swipe card?" And we could only use specific ATMs that worked with our Bank of America card. (My husband could explain this in better detail, if you need more info. Or you could Google "chip and pin card" and see if you can find a website that explains it.)

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This isn't true. I use credit and ATM cards all the time in Europe. It can be a hassle because they sometimes have to call someone to get the transaction approved, but I've yet to have anyone turn me away because of an American card.

The only place I've had trouble is with the London Underground ticket machines; but that's easy to work around.

Also: Wouldn't something like PayPal be an option?

I think Paypal takes a few days to put money into a bank account... it does for me anyway.
I might be missing something... but if the protag has an American account and her parents are in the US, it should just work normally, shouldn't it? Why would it make a difference where the protag happens to be?
Here if someone is with the same bank as I am, they can transfer money instantly to my account (Go ahead... try it if you don't believe me! I'll PM you my account number... ). If it's a different bank it might take a bit longer.
She'd only need Western Union if there was some reason she couldn't access the account from overseas or if there was some reason the money would be delayed into her account.

ETA I know from experience that WU is a pain in the backside and has fees as well. You'd avoid using it if possible.

Transatlantic said:

Thanks, all! Lots of useful info here.

Sorry, wasn't clear - the MC's card works fine abroad, but her US account is empty. She needs money pronto, either deposited in that account or otherwise sent by her parents in the US. I think Western Union makes most sense.

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If her parents can deposit into that account, the funds would be immediately accessible at an ATM in Europe. That's the way to go unless it's a plot point that she can't get the funds.

My sister tried to transfer some money from her US bank to our British one. The bank kept asking for information then threw up its hands and declared it couldn't do it. So it might be possible in theory, but apparently you need a smart bank.

She ended up using PayPal, which cost her a packet in fees of various kinds.

If she needs money pronto and her ATM card works, it's simplest for her parents to go to a local bank branch and deposit cash. Depending on the bank, either the whole amount is available immediately, or the first $100 is available, with the rest available the next morning (between midnight and 5 a.m. EST for national banks, same time local time for local banks). That only works with cash, though. With checks, direct deposits, etc, my experience is that the first $100 will still be available, but the rest could take up to five business days to be released.

Yes, bank drive-thrus are still plentiful. So her parents can either use the drive-thru or go inside, make a cash deposit, and presto, it's in the account and accessible anywhere. Like others have said, I would make sure she's told the bank she's traveling, so her account isn't flagged for suspicious activity.

I have used normal debit cards in many different countries. So long as they are on a network like Cirrus, it is just the same as using them in the US.

Even here in Africa most of our US ATM cards work, although fees (currency conversion and transaction fees) are charged. I know people who've used Western Union, and it takes a few hours but is pretty simple. I imagine bank transfers will work and PayPal does take a couple days.

I put my parents on my account before I left, so they can deposit directly like what was suggested earlier.

Mitt Romney would have some expertise on these matters.

caw