Serve sent out an email earlier today saying that they can no longer be used internationally at the ATM. Just moments ago, Bluebird sent out the same email.
Some people found Bluebird useful for international ATM withdrawals since it cost a flat $2.50 and had no foreign-transaction fee. (See this Freequentflyerbook post.) Under the new terms, this is no longer possible effective immediately, January 6, 2016.
Very odd that they didn’t give any advance warning here and made the change effective right away.
Since January 6, 2016 SERVE is Blocking international ATM use. For me it’s absolute disaster, a stupid move on the part of American Express. I live in a border town, and from my billing address I can SEE THE FENCE between the USA and Mexico. Because I have family, friends and clients in both countries I cross frequently. If I map my week properly, I only need to visit ATM’s within the Moneypass network on the US side but when I do not plan well, or something comes up and I need extra pesos instead of waiting 4-5 hours to cross the border I’ll use an international ATM. Great feature, exchange rates were generous and fees reasonable. Because I have direct deposit my monthly $1 fee is waived. The ONLY revenue Serve gets from me are those international ATM fees. Until now. “Real” credit and debit cards allow you to call customer service and select a check box that says you will be travelling or using international ATM’s. Serve does not. Outsourced customer service gives the standard bogus “security” excuse but seriously, if a card cannot be used that’s not SECURE. It’s worthless. I’ve also had trouble using the card with online orders through certain merchants, but I don’t know whose fault is that. Serve says you can still use the card internationally but that’s not true if you’re connecting from a foreign IP address. Ugh.
I have direct deposit and (when in the USA) only use ATM’s within the Serve network so I never pay any fees.
Exception! I live in a border town with Mexico (my billing address is 2/10ths of a mile from the fence) and cross regularly. It was ENORMOUSLY convenient to be able withdraw dollars or pesos from HSBC and Scotiabank ATM’s when in Mexico. The exchange rate was fair, and fees minimal.
So foreign transactions were the ONLY time Serve got fees from me. The abruptness of this change makes no sense. I was thinking maybe it’s a Patriot Act or Anti-terrorist or Obama thing, but I have two other prepaid cards that were not affected so Idaknow.
I have not had time to call Amex yet for an explanation.
Too bad, because now Serve won’t get any fees from me. Hope that business model works for them.
Doc-do you have a list of debit cards that don’t charge ATM fee and currency conversion fee (or at least low fee?) I don’t want to have a brokerage account like Schwab; looking for a pure cash account. Thank you.
sorry forgot the important piece! don’t charge ATM fee and currency conversion fee for “FOREIGN” atm
Post coming tomorrow.
Only Bluebird has no FTF, I believe all Serve cards have a 2.7% FTF; so I think the international ATM withdrawals trick only works with Bluebird.
Let me clarify that point, thanks
This was my main reason for keeping Bluebird after vanilla reloads with a credit card died out
Was just recently in Paris, and my wife’s BoA checking allowed us fee-free ATM withdrawals with no FTF at BNP Paribas ATMs (they have tons of locations.) Google global banking alliance.
Keep in mind BoA still charge a 3% FTF on those debit cards.
Ah i guess i missed that, thanks.
Has anyone had issues loading Serve at RA lately? Several of my usual stores started denying GC load all of the sudden.
I loaded Serve at RA this a.m., no problems. I’m in northern NJ.
Aspiration summit account has free international ATM use.
This is on my list of things to write a review on.
here are two worth considering, and there are smaller financial institutions worth looking at as well:
google “with schwab bank, pay no atm fees anywhere”
google “fidelity visa gold check card – free atm/debit card”
for Fidelity, there’s this in the fine print (1% foreign transaction fee):
“1. All Fidelity ATM withdrawal fees will be waived for your Fidelity® Cash Management Account. In addition, your account will automatically be reimbursed for all ATM fees charged by other institutions while using a Fidelity® Visa® Gold Check Card linked to your account at any ATM displaying the Visa®, Plus®, or Star® logos. ATM reimbursements will be credited to the account when the transaction posts. Please note, there is a foreign transaction fee of one percent that is not waived, which will be included in the amount charged to your account.”
Schwab fee-free international checking account.