Do you get a better exchange rate from ATM?


Do you get a better exchange rate from ATM? Where to Get Good Rates: ATMs and Local Banks. The best place to exchange money is a local ATM or a bank. Many foreign banks are happy to exchange your dollars for local currency for a better rate than you find elsewhere, or you can go to an ATM to skip the line.


Do ATMs give bad exchange rates?

Your bank's ATM network is likely the best option. You may be able to withdraw cash in the local currency with competitive exchange rates and low fees (1% to 3%).


Is it better to withdraw cash or use debit card abroad?

The main advantage of using a debit or credit card overseas is that you won't pay foreign transaction fees every time you spend. While many also won't charge fees for cash withdrawals, you will still usually be charged interest from the date of the transaction if you use a credit card.


Why not to use debit card internationally?

Debit cards often apply their exchange rate when converting foreign currency transactions into your home currency. These exchange rates may not be as favorable as market rates. Therefore, each transaction may incur additional costs.


Is it better to bring euros or use ATM?

European travelers should always have some cash on hand; getting it from an ATM abroad is usually the easiest, most advantageous way. If you need cash from an ATM, it's usually better to use a debit card, because credit cards often charge a high interest rate for a cash advance.