Using ATMs in Europe isn’t as straightforward as you might think. If you are not careful enough, you can end up with a low conversion rate and high fees, which will make your trip a bitter experience. Check out these money-saving tips for using ATMs in Europe to make sure this doesn’t happen.
Buy the Local Currency Before Your Trip
The best money-saving tip we can give you is to avoid using ATMs in Europe altogether. Buy the local currency at your bank before you take the trip, which will ensure you get a good rate and low fees.
Check Your Bank’s Policy
You should call your bank before you set off and see what’s their policy on overseas ATM charges. Some banks will refund you the fees, while others will waive them completely.
Avoid Euronet ATMs
The worst thing you can do in Europe is use one of Euronet’s ATMs. You will find these ATMs on every corner at tourist hotspots, but they are a classic tourist scam. They will not only charge you atrocious fees for withdrawing money, but they will also give you a significantly lower rate and try to trick you into withdrawing more than you need.
Opt for the Local Currency Transactions
Some ATMs will give you the option to conduct transactions in your currency or the local currency. Always opt for the local currency transaction, as this will allow your bank to take care of the conversion.
