I'm trying to figure out how to withdraw cash from an ATM in a foreign country without getting charged extra fees. I've heard about foreign transaction fees and I'm wondering if there's a way to avoid them.
6 answers
Riccardo
Wed Oct 16 2024
Further enhancing your savings, consider a bank that reimburses ATM fees. Some financial institutions offer this service, effectively refunding any ATM fees charged by other banks. This can be a significant advantage, especially if you're planning to withdraw cash from multiple locations during your trip.
Chiara
Wed Oct 16 2024
To minimize fees even further, utilize your bank network's ATMs or those of its partners. These machines are more likely to offer fee-free transactions, allowing you to access your funds without any additional costs.
CryptoAce
Wed Oct 16 2024
When making purchases, it's advisable to pay in the local currency. By doing so, you avoid dynamic currency conversion fees, which can be imposed by some merchants and can significantly increase the cost of your transaction.
KimchiChic
Wed Oct 16 2024
To optimize your financial management while traveling, opting for a travel credit card is a wise choice. This card often comes with benefits tailored for travelers, such as no foreign transaction fees and competitive exchange rates, ensuring you keep more of your hard-earned money.
Lucia
Wed Oct 16 2024
To limit ATM usage and its associated fees, plan your cash withdrawals carefully. Withdraw larger amounts in fewer transactions to reduce the number of times you need to visit an ATM. Additionally, consider using your debit card to get cash back at stores, as this can be a fee-free alternative in some cases.