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How much do Canadian banks charge to use the ATM machines in Europe? |
Travel Info I have heard that they charge as much as 4 euros per transaction, will this defeat the purpose of getting better rates on foreing currency exchage? Travel Tips i'm with a credit union and when i travel it charges me $5bucks a transaction. When you withdrawl, withdrawl enough money for you to last a few days at a time to save on the charges. Others when I visited Europe and used the ATM I only got charged for using there ATM machine. I didn't have to pay for any currency exchange as far at the rates I believe there were the same. But again this was over 6 yrs ago. When I was there a few years back it was $2.50 per withdrawal. There are generally 2 fees you end up paying in those situations. The ATM fee is usually added on right at the ATM withdrawal, and your bank charge that you see in your bankbook when you get home. Your bank doesn't normally charge more than $1 to $2, mine doesn't anyway. Mine has 3 charges - zero for using any branch of their bank, $1 for any other ATM in Canada, $1.50 for any international ATM. As for the machine you use, the charge can be anything. AND I doubt Europe will charge as much as the bars in Vegas do. Some tips are try to stay to ATM's at banks. They are more trustworthy and cheaper. So same thing, if you head to a bar or store and the ATM is privately owned, then the fees start to escalate. ATM's are usually worth it and safer. The last time I checked, going for exchange generally adds on a fee that is double the ATM fees, and usually a worse exchange rate. But this can vary between experiences. I've paid between $2.50 and $5.00 per transaction. You need to check with your bank. When selecting the ATM to use for your withdrawal be sure the logos that you will see on the back of your bank card are displayed at the machine. (e.g. Interac, Plus) If not, the machine will be part of a system not necessarily directly affiliated with your bank and there will likely be an additional charge. ATM's are the way to go these days. Just don't be withdrawing $20 at a time! I am in Germany right now, and it costs me $5 for each transaction with CIBC. I upped my daily withdrawl limit so I could take out 3 weeks worth of cash. I HATE fees to take out my own damn money! Go to bank ATM's. You'll do ok. |
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