Are there ATM charges in Italy for using a Belgian (Euro) cash/debit card?

Question

I have a Euro account in Belgium, with a cash/debit and credit card. I will be living in Italy for a year or two and was wondering whether there will be an ATM charge for using a foreign (albeit Euro) cash card. I bank with ING Direct and it appears that they have a presence in Italy, if that makes any difference.

Answer 1

You have to check that you have Maestro, most probably you will find the logo on your debit card.

Fortunately EU banks can not charge you anymore for withdrawals of moneys if you have this system!

Enjoy your holidays

Answer 2

I have used my U.S. ATM card at many Bancomats in Italy and never been charged any fees by my bank or the machine for withdrawls. I always get the best exchange rates using the ATM card.  It's the best way to get cash - it beats the credit card, travelers checks, and currency exchange offices.

Answer 3

This depends on your bank. Just because a bank, in your case ING Direct, has a presence in a country, you can still be charged fees if your card is a foreign card or based on other criteria set by the bank.

I don't know all the EU rules governing this and I would check directly with your bank to find out what your situation is. It may be that if there are charges that apply that you could be issued an "Italian" card for the time that you are here. Otherwise, it may be in your interest to open an account with ING Direct here and avoid these charges (but beware of other Italian bank charges that may cancel out your savings).