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Why ATMs Are The Way To Go When Traveling Abroad (Part 1)

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Photo credit: Depositphotos

It doesn’t matter where you are going or which currency you will need, the easiest and most economical way to withdraw money abroad is via an ATM.

According to independenttraveler.com, “the biggest advantage of exchanging money with your ATM card is that all cash withdrawals, regardless of size, are exchanged based on the wholesale exchange rate, which is usually reserved only for very large interbank exchanges, and the rate is often significantly better than what you can get from exchanging money at a local exchange counter.”

When it comes to local banks or exchange offices, they are also safe alternatives, however, they are prone to adding unnecessary transaction fees to your withdrawal.

Truth be told, there are fees associated with international ATM withdrawals as well, but you will definitely get the best exchange rate at the lowest possible cost by using your ATM card.

Which ATMs Should I Use?

Generally, if your ATM card is linked to any of the major networks like PLUS, Cirrus or Maestro, you will be able to use 99% of the ATMs you encounter.

These networks are linked to all machines in the US and hundreds of countries worldwide, and each network has more than a million ATMs.

If you are on team VISA, look for the PLUS network logo on the ATM, while Cirrus and Maestro networks are associated with MasterCard.