Understanding ATM Fees in Europe: A Guide for Travelers

As you travel through Europe, it's essential to understand how ATM fees work to avoid unexpected charges. In the EU, there are no foreign transaction fees for debit card withdrawals.

Not all ATMs in Europe are created equal, though. Some ATMs, especially those not affiliated with major banks, may charge higher fees or have strict withdrawal limits.

ATM fees in Europe can be as high as €5 per transaction, and some banks may charge a flat fee of €2-€3 per withdrawal.

You can expect to pay your bank's ATM fees and any fees charged by the ATM provider itself when using an ATM in Europe. Your bank may charge a percentage or flat fee per ATM transaction, like Wells Fargo, which charges 5 USD per withdrawal from non-Wells Fargo machines outside the US.

Using an ATM outside of your bank's network or choosing a smaller, independent machine could result in higher ATM fees. These fees can add up quickly, so it's essential to be aware of them before making a withdrawal.

Here are some banks that reimburse European ATM fees:

ATM fees can be a nasty surprise when traveling in Europe. Currency conversion fees can be as high as 7% if you let the ATM convert your transaction into your home currency.

Banks often charge debit foreign transaction fees, which can add up quickly. Some banks charge a flat fee per transaction, while others charge a percentage of the transaction amount.

You can avoid these fees by using an ATM that doesn't charge conversion fees or by using a credit card that doesn't charge foreign transaction fees. I've seen some credit cards charge as low as 0.5% for foreign transactions.

You can expect to pay your bank's ATM fees and any fees charged by the ATM provider itself. Some banks charge a percentage or flat fee per ATM transaction, like Wells Fargo, which charges 5 USD per withdrawal from non-Wells Fargo machines outside the US.

Using an ATM outside of your bank's network or a smaller, independent machine can result in higher ATM fees. This is because some ATMs also charge their own fee for taking out money in Europe.

The cost of ATM fees in Europe varies by country, with some countries being more expensive than others. For example, the average ATM fee in Turkey is 3.59%, whereas the average in Ireland is 0.56%.

You'll also need to consider the rates set by your bank, which can affect the cost of ATM fees. N26, for instance, offers up to 8 free ATM withdrawals in the eurozone, depending on your account plan, and charges 2 EUR per withdrawal after that.

Don't forget about currency conversion fees, which can be hidden and as high as 7%. It's a good idea to learn more about which banks charge for debit foreign transaction fees.

Many banks charge an added markup on the standard 'real' exchange rate when you spend or withdraw money in a foreign currency.

The Mastercard exchange rate is a popular choice, but it can change depending on when you use your card.

Each bank or card provider uses a different rate, so it's essential to understand what yours is.

It's best to check with your bank to find out their exchange rate and any potential fees associated with it.

Some banks offer a better conversion rate if you withdraw money in the local currency rather than your home currency.

You can expect to pay your bank's ATM fees and any fees charged by the ATM provider itself when withdrawing cash in Europe. Your bank may charge a percentage or flat fee per ATM transaction, like Wells Fargo, which charges 5 USD per withdrawal from non-Wells Fargo machines outside the US.

Using an ATM outside of your bank's network or choosing a smaller, independent machine can result in higher ATM fees. Some banks will cover the cost of ATM withdrawals, but you may need to apply for your refund and check your bank's specific regulations and requirements.

You can get unlimited ATM cash withdrawal reimbursements with certain bank accounts, such as the Charles Schwab Bank Visa Platinum Debit Card or the Fidelity Debit Card. However, you may still pay 1% for foreign transactions with the Fidelity Debit Card.

Other bank accounts that offer ATM fee reimbursements include the SoFi Money Checking account, the PNC Virtual Wallet Checking account, and the Ally Bank Interest Checking account. Foreign ATM fees can really add up, so it's worth looking into these reimbursement options.

Some banks don't charge ATM withdrawal fees, such as Revolut, which won't charge withdrawal fees as long as you're within your plan limits. You may also get a certain number of free withdrawals with your money transfer provider, like Wise, which offers 2 free ATM transactions each month.

Using a bank-owned ATM can help you avoid added surcharges when withdrawing money abroad, as some banks waive their charges if you use an ATM in their network. For example, you can use your Chime debit card at 60,000+ ATMs without paying a fee.

If you need to withdraw cash abroad, try making fewer, larger withdrawals to avoid paying multiple ATM bank fees. This can also help you reduce costs if your bank charges a flat rate for ATM withdrawals.

If you're planning a trip to Europe, be aware that you can expect to pay your bank's ATM fees and any fees charged by the ATM provider itself. Your bank may charge a percentage or flat fee per ATM transaction, with some banks like Wells Fargo charging $5 per withdrawal from non-Wells Fargo machines outside the US.

To avoid ATM fees in Europe, consider using a bank that offers ATM fee reimbursements, such as Charles Schwab Bank Visa Platinum Debit Card, which provides unlimited ATM cash withdrawal reimbursements for surcharges used to withdraw local currency. Alternatively, you can use a debit card that doesn't attract fees, like the Starling Bank, Metro Bank, or Virgin Money current accounts, which don't charge in Europe for using a debit card.

You can also reduce ATM fees by making fewer, larger withdrawals, as some banks and money providers will give you a set number of free withdrawals. For example, if your bank charges a flat rate for ATM withdrawals, taking out money in bigger chunks can help you avoid paying multiple ATM bank fees.

Making fewer, larger withdrawals can help you avoid paying multiple ATM bank fees. This is especially true if your bank charges a flat rate for ATM withdrawals.

Some banks will give you a set number of free withdrawals, so you may be able to avoid bank fees entirely. This can be a huge money-saver, especially if you're traveling to Europe.

Taking out cash in bigger chunks can also help you reduce costs. Just be mindful of your spending and make sure you're not withdrawing more than you need.

You can withdraw large amounts of cash, but be aware that some banks may have daily withdrawal limits. Always check with your bank before traveling to ensure you know their policies.

Fee Reimbursement is a great way to save money on ATM fees in Europe. Some banks will cover the cost of ATM withdrawals, but you may need to apply for your refund and check your bank's specific regulations and requirements.

You can get unlimited ATM cash withdrawal reimbursements with your Charles Schwab Bank Visa Platinum Debit Card. These reimbursements only apply to surcharges used to withdraw local currency, and you'll get your credit on a monthly basis.

Other banks that offer ATM fee reimbursements include SoFi Money Checking account, PNC Virtual Wallet Checking account, and Ally Bank Interest Checking account. These accounts may offer varying levels of reimbursement, so be sure to check the details.

You can also use your Fidelity Debit Card to access ATM fee reimbursements, but you may still pay 1% for foreign transactions. It's essential to factor this into your overall costs.

Here are some banks that offer ATM fee reimbursements:

In Germany, banks charge fees for withdrawals at other banks' ATMs, both within the national Girocard scheme and when using a debit card abroad.

These fees are usually implemented as surcharges, ranging from €1.95 to €5.00 or higher, and must be displayed to the customer before the money is given out.

Some German banks offer complementary Visa cards for cash withdrawals, absorbing the interbank fee and allowing customers to withdraw money for free at almost any ATM in Germany.

In Portugal, all Multibanco withdrawals and payments are free, thanks to a government-approved law that forbids charging any kind of fees.

Austria has a relatively straightforward approach to ATM fees. Cash withdrawals are free for any owner of an Austrian Maestro card at a bank.

Some independent ATMs, however, charge a small fee, which was €1.95 in 2016. A warning is given when a fee is charged by law.

Very few small banks charge an extra fee when one of their own customers uses a different bank's ATM. It's worth noting that this is not a common practice in Austria.

In Finland, cash withdrawals are free for anyone with a Finnish bank card or Visa Electron card at Otto ATMs, which is the largest ATM network in the country.

These ATMs accept a wide range of cards, including Visa, MasterCard, American Express, and Diners Club credit cards, as well as Maestro, Cirrus, and Plus network cards.

Fees do apply, however, if you use a smaller ATM network or exceed a certain number of withdrawals within a month, with some banks charging fees after a specific number of withdrawals.

Some banks in Finland do charge fees for using ATMs, so it's essential to check with your bank before making any withdrawals to avoid any unexpected charges.

In Ireland, not all ATMs are operated by credit institutions, which means not all ATM fees are regulated by the Consumer Credit Act, 1995.

The government imposes a 12 cent stamp duty fee per ATM withdrawal in the Republic, capped at €2.50 for cards used only at ATMs and €5.00 for cards used at ATMs and point-of-sale.

This fee is charged at the end of a calendar year, so it's worth keeping track of your ATM usage to avoid exceeding the cap.

Some banks in Ireland may charge fees after a given number of withdrawals within a month, so it's essential to check your bank's policies before traveling.

You can use ATMs operated by credit institutions, like those that accept Visa, MasterCard, American Express, and Diners Club credit cards, without worrying about excessive fees.

However, using smaller, independent ATMs or those outside of your bank's network could result in higher fees, so it's best to stick with well-known networks.

In the Netherlands, you can usually make cash withdrawals for free with your Dutch debit card, both within the country and in the rest of the European Union.

Cash withdrawals from another bank in the Netherlands are limited to a maximum of once a day, and there's a lower limit per transaction.

Up to €2,300 may be withdrawn per cashpoint in the Netherlands.

In Portugal, all Multibanco withdrawals and payments are free.

The government has taken steps to protect consumers from excessive fees, approving a law that forbids charging any kind of fees.

This law was enacted in response to recent European Union directives that allowed merchants and banks to charge customers for transactions.

As a result, you can withdraw cash or make payments without worrying about incurring any extra costs.

In the United Kingdom, the number of banks and building societies charging issuer fees to their customers for using other operators' cash machines gradually increased during the 1980s.

However, a strong public reaction against a proposal by Barclays to introduce an acquirer fee for non-Barclays cardholders at their cash machines led to issuer fees being removed altogether in 1990.

Interchange fees, which are paid by the card issuer to the cash machine operator to cover the cost of the transaction, remained in place and are absorbed by the card issuer.

The UK cash machine network LINK opened membership to independent cash machine operators in 1999, which initially focused on the pay-to-use market where customers cover the cost of the transaction directly.

By 2007, the number of pay-to-use cash machines peaked at just over 27,000, mostly in low footfall locations like convenience shops and nightclubs.

The fee charged by these machines in 2005 was usually between £1.00 and £1.50, but occasionally went as high as £5 and £10.

Rules regarding signage on pay-to-use machines were introduced in 2005 and enhanced in 2006, which may have contributed to the decline in their numbers.

By the end of 2010, the number of pay-to-use cash machines had fallen to around 21,000, and by 2016, there were about 54,000 free to use cash machines, of which 23,600 were provided by independent suppliers.