I have an account here in saudi arabia and they give me a visa card, they told me that I can witdraw anywhere?
My question is, if I used that card in making a withdrawal elsewhere aside here in Saudi Arabia, do they charge me in every withdrawals that i will do? I am keeping some of my money in that account and I planned to withdraw it once I'm back in the philippines. Will they charge me and can I really use it there? will the money be converted in Philippine Curency or will it will be in dollars?
Philippines - 5 Answers
Random Answers, Critics, Comments, Opinions :
1 :
you will be charged for cash withdrawals from the card ... but as a charge card you can use it worldwide....they may charge a conversion fee, check with the issuer of the card... phone number for questions is on the back of the card...
2 :
Yes, you can withdraw anywhere. And yes there will be charges. Please find helpful information regarding your visa card at this site: http://www.visa-asia.com/ap/sea/cardholders/tips/foreign_currency.shtml
3 :
This is how every banks go RICH. Every visas withdrawal will be charged a fees. How much or in %age depends on each individual banks. You would like the Saudi bank to issue (in US$) u a bank draft , and when u go back to phil, u can bank into ur phil bank account. once u deposit, t he phil bank will convert the US$ to peso when u draw ur money out. ....... convinced?? ..... how the bank get rich soooo easily..hehehe
4 :
Your "Visa" is an "ATM" card (IT IS NOT A CREDIT CARD) it can be used at any "ATM Machine" anywhere in the world that accepts the "Visa" logo. You can use it as a "Visa" credit card, but this only means that the store will proccess it like a credit card (you must have the money in the account to use it that way, (IT IS NOT A CREDIT CARD). When you come here to the Philippines and use an ATM, yes you will get the money out in Pisos. And yes there is a Charge for each time you withdraw. Not only from your "Home account Bank" but from the Bank that you use their "ATM". Remember that most ATM withdraws are only 5,000pisos each time, though some do now allow 10,000pisos. I was doing that on an American Account when I first moved here, and that was causeing me to lose alot of money, so I changed my account to PCI
5 :
All banks charge a stiff fee for cash withdrawals outside their country. Since you are in Saudi Arabia, you can withdraw cash anywhere in Kuwait, Bahrain, UAE, Oman and Qatar without a charge since they have the GCC Net agreement. However, for cash withdrawals outside the Philippines, you will be charged a transaction fee of US$1.5 each time. The amount will be debited from your bank account in Saudi Arabian Riyals depending upon the currency exchange rates of the SAR to PH Pisos that day, under London Bank Rates (LIBOR).
