How to use ATMs abroad without fees
Use a bank that reimburses ATM fees, notify your bank before travel, and withdraw larger amounts less frequently. Charles Schwab, Fidelity, and some credit unions offer fee-free international ATM access.
- Get a fee-free ATM card before you leave. Open an account with Charles Schwab (reimburses all ATM fees worldwide), Fidelity (no fees + reimburses), or check if your credit union has partnerships abroad. Do this 2-3 weeks before travel to receive your card.
- Set up travel notifications. Call your bank or use their app to notify them of your travel dates and destinations. This prevents your card from being blocked for suspicious activity.
- Research ATM networks at your destination. Find which banks have partnerships with your home bank. For example, Bank of America partners with Deutsche Bank in Germany and Santander in the UK.
- Locate ATMs before you need cash. Use your bank's ATM locator app or Google Maps to find partner ATMs near your hotel, airport, and main destinations. Screenshot locations for offline access.
- Withdraw strategically. Take out larger amounts (equivalent to $200-300) less frequently rather than small amounts daily. Even fee-free accounts may have daily withdrawal limits.
- Always choose local currency. When the ATM asks about currency conversion, always select 'charge in local currency' or decline conversion. The bank's exchange rate is better than the ATM's.
- What if my card gets eaten by an ATM?
- Go into the bank immediately if it's open, or call your bank's international number. Most cards are retrievable within 24 hours if you act quickly.
- Should I exchange money before I travel?
- Get $50-100 equivalent in local currency for immediate needs (taxi, tips), but ATMs give better exchange rates than airport currency exchanges.
- Do credit unions really have better ATM deals?
- Many credit unions belong to networks like Allpoint or CO-OP that provide fee-free access abroad. Check with your specific credit union about international partnerships.