Step by Step: Withdrawing Cash Abroad with the Lowest Fees

Step one: Check the ATM operator fee before confirming

Many ATMs display the operator's own withdrawal fee on screen before you confirm the transaction, separate from any fee your card issuer charges. This fee varies by machine and can be several dollars or more. If the fee seems high, you can cancel and try a different ATM, ideally one affiliated with a bank rather than a standalone machine.

Step two: Always choose the local currency

When an ATM offers a choice between being charged in your home currency or the local currency, choose the local currency and let your card network handle the conversion. The ATM's own conversion offer, called dynamic currency conversion, typically uses a worse embedded rate. This choice appears on screen and must be actively selected, so read the prompt carefully before tapping to proceed.

Step three: Withdraw larger amounts less often

Withdrawing a larger amount less often, where safely practical, reduces the number of times any flat per-withdrawal fee is charged compared to many small withdrawals.

• A fee of three dollars on a twenty-dollar withdrawal is a much higher percentage than the same fee on a hundred-dollar withdrawal
• Balance this against the risk of carrying too much cash in an unfamiliar area
• Consider your daily spending needs and the availability of card payment options

Step four: Prefer bank-affiliated ATMs

Using an ATM affiliated with a bank rather than a standalone or independent ATM often results in lower or no operator fees, though this varies by country and network. Bank ATMs are also more likely to have anti-skimming protections and be regularly serviced. Look for machines inside bank branches or attached to bank buildings when possible.

Step five: Know your card's withdrawal limit in advance

Confirming your card's own daily withdrawal limit in advance avoids attempting a withdrawal that gets declined partway through selecting options. Some cards have lower limits when used abroad, and exceeding the limit can trigger a temporary block that requires contacting support. Check your card's settings or documentation before traveling.

Common questions