I am sure that someone here has used an ATM machine abroad and I was wondering how much did you have to pay as a fee. Is it worth withdrawing money from an ATM machine or it is better to use the credit card in the shops.
When I lived in the US for a year I used an ATM from time to time. I don't remember how much the fee was but it wasn't too much. Also I only used the ATM like every other month or so and I withdrew a bigger amount of money than I would normally do at home. I think that's the main thing you should think about, rather withdrawing big amounts once in a while than small amounts very often. I don't know how it works when using your credit card in a store, is there no fee then? When I went to Germany last year I got some Euro before the trip so I wouldn't have to use my credit card unless I absolutely had to.
Yes, I have! And to answer you question, it greatly depends. For me, it was when I was in London and it was actually recommended that I use the specific bank ATMs (I don't remember the name of the bank....something like Barclay's? The logo was green.) The exchange rate was great and the fee was less than $5. So I pulled out all the cash I would need for my trip, and only got hit with that small fee in the beginning. It was much cheaper than going to an exchange shop.
Yes I have. It is best to use an atm owned by an affiliate of your current bank. If your bank is small it may be worth opening an account with a larger company simply so you can do this. If you use another banks the fees can be huge when out of country.
There was no fee, although this was using a UK bank in Germany so perhaps it was due to some both being in the EU? I usually always try to cover it beforehand, and withdraw all the money I need in advance before I leave. I don't think fees are usually higher than the cost of paid ATM's (about £1.75)
I have sometimes. It's out of convenience and I don't have to carry too much cash when I'm travelling. As far as the fees go, I never bothered to look actually. Since I'm abroad and out of cash, I didn't really had any choice other than using the ATM. I'm sure the extra fee is negligible because I would've noticed otherwise.
Really depends if the ATM accepts your credit/debit card, a lot won't accept foreign cards I've found. In terms of the actual fee its never much more than you'd pay for at home, usually only a few dollars in most western countries.
As long as it's a visa/mastercard/something similar 99% of the banks in western countries will accept it. I actually haven't stumbled onto a single bank that wouldn't accept my visa during my travels. (and there has been quite a bit) I always use an ATM and get enough cash for a week or so. This way you pay the extra fee once, as opposed to paying it each and everytime you use your credic card.
I have used an ATM on all my long journeys. The fees depend on the bank you are using. I think it was something around 2% on the total amount and at least $5.
It definitely is if you're trying to use the ATM every time you want to make a purchase. If you think about traveling abroad and pulling out enough cash to last you for several days, then a single transaction fee of that price isn't so bad.
This really depends; when I was in England it was extremely expensive to withdrawal money in terms of bank fees. If you have the money to pay your via off right away, I would suggest this method. You will not be charged any fees for using your visa (because it can be used globally), IF you pay your bill. I used my visa for the remainder of my trip and paid it off before any interest was charged. There are also all types of accounts out there, so check with your bank before you go on holiday/business.
