Why They´re Great
ATMs typically offer the most favorable exchange rates because they use the interbank rate, which is better than the rates at exchange kiosks or hotels.
Widely available in most urban areas and often elsewhere, as well.
Tips
Use ATMs associated with major banks; independent ATMs usually have higher fees.
Withdraw larger amounts at a time to minimize flat transaction fees.
Check if your bank has partner institutions overseas to reduce or eliminate foreign ATM fees.
Watch Out For
Foreign transaction fees (usually one to three percent of the amount withdrawn).
ATM withdrawal fees, which can vary by bank or country.
Read more in my post 5 Options to Get Local Currency for Traveling.
Comments