The Comdirect advertises with „Kostenlose Visa-Karte – im Ausland kostenlos Bargeld abheben2“ (Free Visa credit card – withdraw cash free of charge abroad2).
What exemption is hiding behind the footnote 2?
In general, banks refer here to the fact that additional withdrawal fees of the corresponding ATM provider may incur. The bank has no influence on this.
However, at the Comdirect, it says “An allen Geldautomaten mit Visa-Zeichen” (at any ATM with the Visa sign).
Wow! Does this mean that withdrawing cash abroad is always free of charge, even if the foreign bank charges additional fees?
Yes, this is right!
Excerpt of the Comdirect website:
Of course, the fact remains that the Comdirect has no influence on the charges of foreign ATMs. This means that the fees are charged to the customer directly at the withdrawal. However, they will be reimbursed at your request!
Sample of the refund of fees
I have tested it myself: On January 5th in 2014, I walked into a branch office of the Bank of Hawaii and withdrew US-Dollar 60 with my Comdirect Visa credit card. During the withdrawal process, the ATM pointed out that there is a fee of US-Dollar 2.75.
I confirmed this and received my US-Dollar 60 in cash. My credit card account was then charged with US-Dollar 62.75.
When I logged into the online banking on January 7th, I saw the entry and immediately wrote the following e-mail to the Comdirect:
Sehr geehrte Damen und Herren, beim Geldabheben wurde mir eine lokale ATM-Gebühr in Höhe von 2,75 USD berechnet. Sie können es als eine der letzten Buchungen auf der Kreditkarte an der ungeraden Summe erkennen. Ich habe erfahren, dass Ihre Bank solche Gebühren erstattet. Was muss ich dafür tun? Kontonummer: 87XXXXX Vielen Dank und mit freundlichen Grüßen Gregor Janecke
Already on the next day, the Comdirect refunded the fee
On the next day (January 8th), I received Euros 2.10 (corresponding to the exchanged US-Dollar 2.75 of that day) credited to my bank account.
I did not even had to send the receipt that was printed by the ATM. Due to the odd withdrawal amount, it is logical that it was a withdrawal amount of USD 60 and a fee of USD 2.75.
Additionally, direct withdrawal fees are common in the USA and in Thailand. The Comdirect Bank knows this and makes it as easy and comfortable as possible for the customer to get the refund.
If you prefer to call the bank, you can also ask for the refund of the ATM charges by phone.
(Almost) unique product feature
Apart from the DKB, I do not know of any other German bank that refunds the fees of foreign banks at cash withdrawals abroad to their customers. I guess that this is not even known to many Comdirect customers. In the end, there is no special advertising for this.
“Yes, I want to get the Comdirect Visa card”
Extremely customer-friendly terms!
Please make use of it, but meaningfully!
You as a reader of my special portal now know of this feature and can use it in the future or for transactions that took place not too long in the past.
At the same time, I ask you to use this generous customer procedure of the Comdirect conscientiously in order to maintain it for us all during the next years. The refund of a few dollars cost the bank of course more than you get credited. I mean administrative and staff expenses!
If you are traveling internationally, then preferably withdraw a higher amount at the ATM (perhaps once a week), instead of your daily needed amount on every single day. Feel free to use my pre-formulated e-mail text to get your refund.
Likewise, I would be pleased to get a posting from you, if it worked or if you encountered problems. Thank you for your commitment!
Frequently read articles about the Comdirect
- Immediate overdraft facility at a free current account
- Opening the Comdirect Tagesgeld-PLUS
- Comparison: Comdirect better than the DKB?
Update: Comdirect does not refund anymore!
Since the new price listing of the 15th of February 2016, the Comdirect does not refund the foreign fees for abroad cash withdrawals anymore.