July 6, 2026, 3:30 pm | Read time: 3 minutes
The vacation is booked, the travel budget planned–but only after returning do many realize that cash abroad cost significantly more than expected. It’s not a single fee that leads to the high bill, but several cost factors that quickly add up. TRAVELBOOK explains the typical pitfalls and how to save money when withdrawing and paying abroad.
Possible Fees When Withdrawing Cash
Outside the Eurozone, cash in the local currency is often practical or even necessary. However, various fees can arise when withdrawing money. First, some banks charge a withdrawal fee for using the card abroad. While some direct banks offer free cash withdrawals, this often applies only up to a certain number or a monthly limit.
Additionally, ATM operator fees may apply. Especially in countries like the U.S. or Thailand, many operators charge a surcharge. But even in Europe, private providers such as Euronet sometimes impose additional charges.
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Foreign Currencies Increase Costs
Another important cost factor is the foreign currency fee. While cash withdrawals within the Eurozone are free at many banks, additional fees are often charged for withdrawals in other currencies. Therefore, it’s worth checking your bank’s terms before traveling.
The exchange rate used also plays a role. Some banks do not convert at the official reference rate but use their own rate. As a result, travelers often receive less local currency for their euros than expected.
Withdrawing cash can be particularly expensive at airports or in heavily frequented tourist areas. There, ATMs from private operators often charge both unfavorable exchange rates and additional fees. ATMs from local banks are often the cheaper alternative.
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Pay Attention to Currency Choice
A common cost trap is the so-called Dynamic Currency Conversion (DCC). At the ATM, the question appears: “Would you like to be charged in euros?” What initially seems convenient can significantly increase the cost of the withdrawal. Choosing to be charged in euros means accepting the ATM operator’s exchange rate, which is usually less favorable than your bank’s rate.
Experts therefore advise always choosing to be charged in the local currency. This applies not only at ATMs but also when paying by card in restaurants or while shopping. If the amount is converted directly into euros, the exchange rate is often worse. Therefore, before entering your PIN or signing, check whether the bill is actually shown in the local currency. Otherwise, an unfavorable immediate conversion might occur automatically.
Larger Amounts Instead of Many Small Withdrawals
The number of withdrawals also affects the total cost. Many banks charge a minimum fee for each transaction, which can be up to ten euros. Additional fees from the respective ATM operator may also apply each time. Withdrawing a larger amount at once can avoid these repeatedly incurred fees.