Ken Tough wrote:
> mnc@admin.u.nu (Miguel Cruz) wrote
>> Advantage of ATM cards:
>> 1 - Cheapest for you.
>> 2 - Most convenient.
>> 3 - Easiest to locate.
>> 4 - Open 24 hours.
>
> Typically, ATM charges have a big overhead for the withdrawel,
> regardless of the size of it. (Sometimes about 4 pounds/7 dollars).
> So you ought to pull out a big whack of cash, when you do.
> Doing so may help promote spending, too..
The OP is in the USA, so I assume they have a US bank. Some charge no fees
at all; the worst I've seen was Fleet with $5 for international withdrawals.
Typically they're around $1.50. At that rate the only way to do better with
cash exchanges is to change $20 at a time.
I traveled with a friend who had a Fleet card and he'd specifically asked
before the trip whether there were any fees for cash withdrawals from
non-Fleet ATMs. They said no. We came back and he had something like $100 in
fees on his statement. They said "oh, we didn't know you meant
_international_ withdrawals." Obviously they did end up crediting that money
back to him.
Anyway, it's possible and not particularly difficult for US consumers to get
fee-free global ATM withdrawals, and I encourage people to switch to a bank
or credit union that provides them, if only by establishing a special
traveling account.
miguel
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