Each Friday, we feature a reader-submitted tip as our Travel Tip of the Day. This week’s tip comes from reader Larry J., who wrote in yesterday with the following:
“I am currently in Copenhagen, Denmark. I used a Euronet ATM to take out a sizable amount using my bank card. Their exchange fee was 15% and they do not warn you or give you any notice of this exorbitant charge. Euronet has a large string of ATMs throughout Europe. I would suggest you warn your readers about using this machine, and tell them to use a regular large bank ATM to get a fair exchange rate. If you Google this name you will find many unhappy users of these ATMs. Please help others to avoid getting ripped off like I was.”
Thanks, Larry! My pal Rick Steves has written the same thing about Euronet ATMs and similar ATMs in Europe, advising in this roundup of ATM tips to “avoid ‘independent’ ATMs, such as Travelex, Euronet, Moneybox, Your Cash, Cardpoint, and Cashzone” which “have high fees and may try to trick users with ‘dynamic currency conversion.'”
Your best option is usually to check with your bank to find its international banking partners in your destination. If it doesn’t have any, you might look up the major banks where you’re going and the fees they charge so you know what to look for before you arrive.
- How to Avoid Bank of America’s International ATM Fees
- This Is What an ATM Skimmer Looks Like
- Avoiding ATM Fees
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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.