From ATM fees in Europe to sneaky currency conversion markups, travellers often lose money without realising it. This guide breaks down how to avoid ATM fees in Europe, spot fair exchange rates, and choose the best ATMs to use in Europe.
If you are looking for a guide about a specific country, see our articles on ATMs in Sweden, and ATMs in Ireland, as well as a detailed guide about ATMs in the UK and Germany.
Understanding ATM fees in Europe
Best ATMs to use in Europe
ATMs to avoid in Europe
Navigating ATM conversion fees
Securing fee-free withdrawals
Practical tips
Understanding ATM fees in Europe
When using ATMs in Europe, three main charges typically apply:
- ATM operator charges: A flat fee per withdrawal (e.g., €2-5 in Spain or Italy).
- Bank foreign transaction fees: Your home bank may add 1-3% per withdrawal.
- Currency conversion margins: Dynamic exchange rates often include a 3-5% markup.
How much are ATM fees in Europe? They vary by country. In Spain, expect €2-5 per withdrawal; in the UK, banks like Barclays charge 3% for non-sterling withdrawals. Meanwhile, independent operators like Euronet often impose higher transaction fees (up to €7) and poor currency conversion rates.
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Best ATMs to use in Europe
To avoid ATM fees in Europe, stick to bank-owned ATMs in Europe rather than standalone machines. Key options include:
- Deutsche Bank (Germany): Free withdrawals for international cards.
- BNP Paribas (France): Low fees and transparent exchange rates.
- Santander (Spain): Widespread with moderate charges (€2-3 per transaction).
Global networks like HSBC and Citibank also offer fee-free access for account holders. For budget travellers, Star Alliance ATMs (found in airports) provide competitive rates.
Travel-friendly cards like Revolut, Monzo, or Starling are game-changers. These fintech tools reimburse ATM fees in Europe (up to limits) and use mid-market exchange rates, bypassing bank markups.
Avoid Euronet ATMs where possible. Despite their ubiquity near tourist hotspots, their fees are steep, and currency conversion rates are exploitative.
Pairing a fee-free card with the right ATMs in Europe ensures you keep more cash for gelato, museums, and that extra glass of Chianti. Saluti!
Read on: Budget planning for digital nomads.
ATMs to avoid in Europe
When it comes to ATMs to avoid in Europe, think twice before you approach the lone machines in airports and tourist hotspots. Independent operators—such as Travelex or Euronet — often lure you in with convenience but hit you with high fees (Euronetatms). These tourist traps add an unnecessary dent to your travel budget.
DCC
A common pitfall is falling for dynamic currency conversion (DCC) scams. You’ll be offered a choice between withdrawing in your home currency or the local euro. Always opt for the euro: accepting DCC means the machine decides the exchange rate, and you’ll almost certainly lose out. I once watched a fellow traveller in Paris agree to DCC, only to discover afterwards that a €100 withdrawal effectively cost her €108.
Red flags
Spotting red flags is straightforward. Avoid ATMs with flashy screens or zero bank branding—these are often operated by third parties with no obligation to offer fair exchange rates. If there’s no visible logo of a recognised bank, walk on. Machines tucked away in dimly lit corners or featuring multiple logos selling holiday postcards are another giveaway of a money-making tourist trap.
Rather than grabbing cash at every opportunity, plan your withdrawals at trusted institutions. Stick to ATMs inside bank branches or reputable post offices; you’ll pay the standard fee charged by your own bank without extra rip-offs. By steering clear of these dodgy devices, you’ll ensure that ATMs to avoid in Europe won’t dent your wallet—or your holiday spirits.
Navigating ATM conversion fees
Understanding ATM conversion fees in Europe is vital to keeping more pounds in your pocket. Banks tend to calculate their conversion rates using wholesale exchange rates, but they each apply a margin. Visa and Mastercard publish their daily rates, which many banks use as a baseline—yet local ATM operators can set their own, often less favourable, currency conversion terms. To see how steep these hidden charges can be, consider a €200 withdrawal. Your provider might apply a 1% fee plus a margin on the rate, but if the ATM itself tacks on a poor DCC rate, you could lose an extra €15.
Useful tools
When comparing ATM conversion fees in Europe, tools like the XE Currency app and Mastercard’s online rate checker become indispensable. Enter the amount you plan to withdraw and compare it to the ATM’s offer on-screen. If the discrepancy is more than a couple of percentage points, cancel the transaction and seek another machine.
Foreign transaction fees
Don’t forget about foreign transaction fees on your debit or credit card. Some cards waive them entirely, so it pays to research before you jet off. A fee-free card can turn a €200 withdrawal into exactly €200 in your account statement—no nasty surprises. Armed with knowledge of these rates and a few savvy checks, you’ll navigate each withdrawal with assurance, rather than dread.
How to save more money while travelling? Find out in this article.
Securing fee-free withdrawals
Bank’s partners
One of the smartest ways to avoid ATM fees in Europe is to leverage your bank’s partner network. Many high-street names have tie-ups across the EU, meaning you can withdraw cash without incurring extra charges. Before you travel, check your bank’s website or app for a list of these partners – it takes minutes and can save you a small fortune in fee reimbursement later.
Fee-free cards
Another handy tip is to apply for fee-free cards designed with frequent travellers in mind. Numerous challenger banks and fintech providers now waive both ATM fees and foreign transaction charges, even when pulling euros. These cards often come with real-time exchange rate updates in their apps, so you’ll always know whether a given ATM is offering a fair rate.
Statements
Finally, keep an eye on your statements. If your bank promises fee refunds, submit your reimbursement claims promptly. Many institutions require you to upload a screenshot of the ATM’s fee notification or receipt – a quick photo on your smartphone will do the trick. By combining partner banks, savvy withdrawal limits, and fee-free cards, you’ll master how to avoid ATM fees in Europe with minimal hassle.
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Practical tips for using ATMs in Europe
When tips on using ATMs in Europe are concerned, a little foresight goes a long way.
Withdraw larger sums
First, using ATMs in Europe wisely starts with withdrawing larger sums to minimise transaction frequency (safety tips included). Drawing €200 instead of €50 every other day cuts down on both time and charges. During a jaunt from London to Lisbon, I opted for a single withdrawal and felt far more at ease.
Notify a bank
Before you depart, notify your bank of travel dates to avoid blocked cards. A simple call or online note prevents that moment of panic when your card is unexpectedly declined. While using ATMs in Europe, always select the local currency rather than the sterling; this avoids dynamic currency conversion. Rejecting DCC can save you up to 5% on each withdrawal.
Mix
For everyday purchases, reach for a credit card, but steer clear of cash advances. Instead, blend card and cash: pay for hotels or restaurants with plastic, and use ATMs in Europe for pocket money.
Avoid tourist traps
If you’re following Rick Steves’ advice, search for bank-affiliated machines hidden away from tourist hotspots. In Rome, you can save €30 by using a BancoPosta ATM instead of a hotel lobby machine—proof that a little legwork pays off. For extra safety, cover the keypad while entering your PIN, and avoid street-corner machines at night.
By following these tips on using ATMs in Europe, you’ll spend less time fretting over fees and more time savouring the journey. Remember, planning ahead and mixing your payment methods ensures that how to avoid ATM fees in Europe becomes second nature.
Final thoughts
Effective planning is the bedrock of stress-free spending. Recap key strategies: choose bank-affiliated machines, reject dynamic currency conversion, and leverage fee-free cards whenever possible. Beware of common pitfalls like unnecessary cash advances or withdrawing in non-EU currencies.
Ahead of your trip, research your bank’s EU partners and budget for unavoidable fees. Even the most savvy traveller encounters a small charge now and again, but informed decisions limit their impact. Understand the prevailing currency exchange rates to know whether an ATM rate is fair.
Ultimately, prioritise safety and convenience without overspending. By mapping out your withdrawal strategy, notifying your bank, and balancing credit card use with cash reserves, you’ll navigate European ATMs with confidence. Bon voyage—and may your travels be fee-free and fabulous! As for the international transfers, Profee takes the spotlight. Send funds back home at great exchange rates and with low fees. Join today!
