Post by Kim on Mar 20, 2004 21:58:19 GMT -5
As we seem to have alot of people asking about ATM's, I'm posting this to answer the most common questions.
Service Charges
Yes, there are usually service charges for withdrawing money from ATM's in Europe. These are from your bank, not the European ATM's. To find out what your bank charges, give them a call and ask them what they charge for International withdrawls - it's usually $1 - $3 per withdrawl.
That said, ATM's give one of the best exchange rates so it usually works out well in the end. Also, the security of keeping your money in an account and not having it on you to get stolen is a big asset.
Can I rely soley on ATMs?
You probably can, although it's good to have a back up plan. I like to take $100 or so in travellers cheques, just in case. I would definately not rely on travellers cheques as my sole source of money though, they are a hassle and pretty much going the way of the dinosaur. In addition, the exchange rate on them can be horrible.
Are there lots of ATM's?
Yes, they are everywhere. EVERYWHERE. Don't worry about what kind of card you have, it won't be an issue. That said, if you are going to some tiny little town off the coast of nowhere, I would probably have some money on hand just in case. Also, if you are arriving somewhere really early or really late, the last thing you will want to be doing is scouting out an ATM so have some cash available.
Other ATM Tips
Service Charges
Yes, there are usually service charges for withdrawing money from ATM's in Europe. These are from your bank, not the European ATM's. To find out what your bank charges, give them a call and ask them what they charge for International withdrawls - it's usually $1 - $3 per withdrawl.
That said, ATM's give one of the best exchange rates so it usually works out well in the end. Also, the security of keeping your money in an account and not having it on you to get stolen is a big asset.
Can I rely soley on ATMs?
You probably can, although it's good to have a back up plan. I like to take $100 or so in travellers cheques, just in case. I would definately not rely on travellers cheques as my sole source of money though, they are a hassle and pretty much going the way of the dinosaur. In addition, the exchange rate on them can be horrible.
Are there lots of ATM's?
Yes, they are everywhere. EVERYWHERE. Don't worry about what kind of card you have, it won't be an issue. That said, if you are going to some tiny little town off the coast of nowhere, I would probably have some money on hand just in case. Also, if you are arriving somewhere really early or really late, the last thing you will want to be doing is scouting out an ATM so have some cash available.
Other ATM Tips
- Keep your money in a chequings account, not savings account. Many machines won't let you withdraw from a savings account.
- Don't rely on a PIN that is made up of letters. Many just have the numbers. A 4 digit PIN works the best.
- Sign up for online banking with your bank before you leave. It's nice to be able to check your transactions, totals etc. from an Internet cafe.
- Check to see what your withdrawl limit is on your card. You don't want to run into a circumstance where you need a chunk of money but can only take out $100 per day. I usually have mine set at $300 per day.