@Anonymouswrote:My understanding is that the network sets the rate (this is said in many articles on the web), and, if there is a FTF, the bank adds that on. Hence articles showing the MC is often better than Visa in some regions.
So why do people report different rates on different Visa cards on the same day? My guess is that it depends when the transaction conversion is done, on the posting date rather than purchase date.
I'm pretty sure it is this.
You can read some articles on the Internet that dig into the exchange rates. MasterCard network seems to give the best rate, but not by much. Only really makes a difference on really large purchases.
First Tech CU is generally considered the best card for purchasing in other countries. True chip+pin, MasterCard Network, no FTF, a few different choices for actual card/rewards, decent sign up bonus. Have to remember that if the rewards are good they can make up for a small exchange rate discrepancy.
@Anonymouswrote:I'd recommend Barclay UBER if you can get it. It is a true pin card that will not dissapoint you at the automated vending machines abroad. I tried it many times in Europe at the train stations when buying tickets from the self terminal machines and it worked great. Also, you always get the current exchange rate and it is the same exchange rate that Schwab bank debit card gives at the ATM.
So here is the recommened list of what cards you need to get if you travel abroad a lot:
1. For ATM cash withrawl, get Schwab debit card. You need to apply for a Schwab checking account to get this great debit card.
2. For credit cards transactions, get Barclay UBER visa if you can and Costco citi if you are a costco member.
Use Barclay card as your primary card for all your transactions abroad because of its true pin feature and use Costco citi to buy flight tickets, hotel, rental cars, etc because citi costco offers great travel/interruption canelation insurance. Keep in mind that Costco citi does not have a pin feature so it may not work at the automated self terminal machines abroad.
I highly recommend Barclay UBER and Shwab debit card because I used them many many times abroad in different coutries in different continents and never disappointed me. I always get the current exchange rate.
Thanks for the tip about the Shwab debit card! I didn't know about this card and I will like to add it as a safety for when I travel. Do you use the Shwab debit card for your primary account or just when you travel? I don't like to have many accounts open but it seems like a no trainer for people who travel. Also when you do ATM withdrawal with the Shwab card, is it in US currency or Local currency? Is it better to do it in a specific currency as I know with credit cards it's better to do local currency. Thanks for your help! Kudos to you 
@Anonymouswrote:
@Anonymouswrote:I'd recommend Barclay UBER if you can get it. It is a true pin card that will not dissapoint you at the automated vending machines abroad. I tried it many times in Europe at the train stations when buying tickets from the self terminal machines and it worked great. Also, you always get the current exchange rate and it is the same exchange rate that Schwab bank debit card gives at the ATM.
So here is the recommened list of what cards you need to get if you travel abroad a lot:
1. For ATM cash withrawl, get Schwab debit card. You need to apply for a Schwab checking account to get this great debit card.
2. For credit cards transactions, get Barclay UBER visa if you can and Costco citi if you are a costco member.
Use Barclay card as your primary card for all your transactions abroad because of its true pin feature and use Costco citi to buy flight tickets, hotel, rental cars, etc because citi costco offers great travel/interruption canelation insurance. Keep in mind that Costco citi does not have a pin feature so it may not work at the automated self terminal machines abroad.
I highly recommend Barclay UBER and Shwab debit card because I used them many many times abroad in different coutries in different continents and never disappointed me. I always get the current exchange rate.
Thanks for the tip about the Shwab debit card! I didn't know about this card and I will like to add it as a safety for when I travel. Do you use the Shwab debit card for your primary account or just when you travel? I don't like to have many accounts open but it seems like a no trainer for people who travel. Also when you do ATM withdrawal with the Shwab card, is it in US currency or Local currency? Is it better to do it in a specific currency as I know with credit cards it's better to do local currency. Thanks for your help! Kudos to you
Most ATMs are only going to have local currency (just like in the US you rarely get a choice). The article linked earlier, which also praised the Schwab and Uber (and to a lesser extent Costco) reiterates that if you do get a choice, always get local for best rate, same as avoiding DCC with a credit card.
The only warning about Schwab is that it is a hard pull (as well as Chexsystems)
@Anonymouswrote:
@AnonymousThanks for the tip about the Shwab debit card! I didn't know about this card and I will like to add it as a safety for when I travel. Do you use the Shwab debit card for your primary account or just when you travel? I don't like to have many accounts open but it seems like a no trainer for people who travel. Also when you do ATM withdrawal with the Shwab card, is it in US currency or Local currency? Is it better to do it in a specific currency as I know with credit cards it's better to do local currency. Thanks for your help! Kudos to you
I will answer your questions based on my own experience.
When you use Schwab debit card to withraw cash abroad at any ATM, you must always choose the local currency of the foreign country you are visiting and most machines give you the local currency as a default option. Some ATM machines will charge you a fee but u don't have to worry about that fee because Schwab will reimburse all ATM fees at the end of the month. Scwhab will always give you the best current exchange rate. Schwab currently does not charge foreign transaction fees at all.
You can use schwab as your primary checking account if you are not happy with your current bank. The only thing that you may hate about schwab bank is that you won't find many local branches. I almost use schwab as a primary checking account because I travel abroad a lot and the bank meets all my needs with no fees at all.
Keep in mind that you have to notify the issuers of your credit card and debit card to let them know that you are traveling abroad. You call them or you can do it online 2-3 days before your travel date.
https://www.hotpersonalfinance.com/best-credit-cards-checking-account-international-travelers/