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ATM withdrawal charges for prepaid cards

Posted: Tue Jan 23, 2018 1:18 pm
by tartanbeat
Apologies if this has been raised before - I had a wee look through the forum, and elsewhere, but couldn't find any more information on this.
I use a prepaid card (Caxton) for withdrawals here (have done for a few years), and have until very recently not been charged for ATM withdrawals.
It seems I have been getting charged 1.50 euros for each of the last few withdrawals - nothing is printed on the receipts, I only found out from checking my transactions online. Might have to stop smaller withdrawals now?!
Does anybody know if this is the norm for all Greek banks now?
Many thanks, Iain

Re: ATM withdrawal charges for prepaid cards

Posted: Tue Jan 23, 2018 1:50 pm
by Carolina
I have a Caxton pre- paid currency card and have always been charged for ATM withdrawals here in Greece (1.50 pounds per withdrawal, not euros) .

Re: ATM withdrawal charges for prepaid cards

Posted: Tue Jan 23, 2018 3:43 pm
by peebee
I have had one for around 10 years and have never been charged for a withdrawal.

Re: ATM withdrawal charges for prepaid cards

Posted: Tue Jan 23, 2018 3:48 pm
by Carolina
Had mine for about two years and always been charged for withdrawals, but I've just realised that mine is a Caxton 'Business' prepaid debit card.

Re: ATM withdrawal charges for prepaid cards

Posted: Tue Jan 23, 2018 4:12 pm
by tartanbeat
peebee wrote:I have had one for around 10 years and have never been charged for a withdrawal.


I've never been charged before either, hence I'm thinking this is a very recent thing. Just wondering if anybody else has experienced this, or if one knows of a change of Greek banking policy.
I'm in Chania, so I can try out different banks' ATMs, but Bank of Chania definitely charged me today, and nothing on the receipt.

Re: ATM withdrawal charges for prepaid cards

Posted: Tue Jan 23, 2018 5:10 pm
by peebee
tartanbeat wrote:
peebee wrote:I have had one for around 10 years and have never been charged for a withdrawal.


I've never been charged before either, hence I'm thinking this is a very recent thing. Just wondering if anybody else has experienced this, or if one knows of a change of Greek banking policy.
I'm in Chania, so I can try out different banks' ATMs, but Bank of Chania definitely charged me today, and nothing on the receipt.

Used mine less than 3 weeks ago, always use Piraeus as it's my local one.

Re: ATM withdrawal charges for prepaid cards

Posted: Tue Jan 23, 2018 5:36 pm
by Kilkis
It is normal in Greece for a withdrawal at an ATM of a bank, other than the bank that issued the card, to be charged €1.50 whatever the amount withdrawn. For example I have an Alpha Bank Debit Card. If I use it at any Alpha Bank ATM I am not charged. If I use it at an ATM of any other bank, e.g Piraeus, NBG, Eurobank etc then I am charged. The only exception that I am aware of are the cooperative banks who do not charge for withdrawals from ATMs of other banks in the group. For example a Cooperative Bank of Chania card will not be charged for withdrawal from a Pankritia ATM. I have no idea how this works with pre-paid cards but it would be logical to treat them the same way. If you use a pre-paid card in a Piraeus ATM and the card was not issued by Piraeus then I would expect it to be charged. I would have thought any bank would be able to tell you?

Warwick

Re: ATM withdrawal charges for prepaid cards

Posted: Tue Jan 23, 2018 7:08 pm
by tartanbeat
Thank you for the replies.
I'll try the Piraeus bank next time, and then check my balance again.
As I said, I've been using this prepaid card for a few years here now, and in a variety of banks around Chania, and never been charged a transaction fee, so something has definitely changed recently.
Thanks again.

Re: ATM withdrawal charges for prepaid cards

Posted: Wed Jan 31, 2018 4:04 pm
by tartanbeat
tartanbeat wrote:Thank you for the replies.
I'll try the Piraeus bank next time, and then check my balance again.
As I said, I've been using this prepaid card for a few years here now, and in a variety of banks around Chania, and never been charged a transaction fee, so something has definitely changed recently.
Thanks again.


I used Piraeus Bank for a withdrawal this week, and NO charges - now my ATM of choice.
Thanks, Iain

Re: ATM withdrawal charges for prepaid cards

Posted: Wed Jan 31, 2018 10:46 pm
by Houmeri91
Hi just a quick question , personally I use Smart Currency ( rate always seems pretty keen to me )and send it to my Euro Bank account for Euro's and the intention was to carry on when we move over later this year . The Caxton card what are the advantages of that over just using a a currency broker as the rate didn't seem particularly competitive roughly the same as picking up cash at the Post Office in the UK ?

Re: ATM withdrawal charges for prepaid cards

Posted: Thu Feb 01, 2018 6:25 am
by peebee
I used to use Smart Currency Exchange, but found that CurrencyFair give a better rate - usually about 0.5 cents below the Forex rate, with a fixed €3 transaction fee.
I also have a Caxton card which I only use in emergencies because the rate is not as good.

Re: ATM withdrawal charges for prepaid cards

Posted: Thu Feb 01, 2018 8:31 am
by Kilkis
One reason I prefer the peer-to-peer exchanges like Currency Fair and Transfer Wise rather than commercial Forex companies, in addition to their good rates, is that you can see exactly what you are going to get live on the site. Most of the Forex companies seem to display the spot rate and you have to get a quote to find out what you will actually receive. The commercial Forex companies are still a lot better than the banks though.

Warwick

Re: ATM withdrawal charges for prepaid cards

Posted: Thu Feb 01, 2018 12:57 pm
by tartanbeat
Houmeri91 wrote:Hi just a quick question , personally I use Smart Currency ( rate always seems pretty keen to me )and send it to my Euro Bank account for Euro's and the intention was to carry on when we move over later this year . The Caxton card what are the advantages of that over just using a a currency broker as the rate didn't seem particularly competitive roughly the same as picking up cash at the Post Office in the UK ?


Hi there,
I don't have a Greek bank account, and I like to travel a lot in Europe and elsewhere.
I know the Caxton rates aren't the best, but do stand up well against other prepaid cards (it was better than the PO when I got it, but I haven't compared rates for a while). What I like about it is that I can use it at ATMs anywhere in the world (it is not just a 'Eurocard'), and I'm very rarely charged a transaction fee.
Cheers, Iain