Some countries offer free ATMs — but your bank can still charge you.
If you’re using an overseas ATM, you can be charged an out-of-network ATM fee by your bank, a currency exchange fee by your bank and an ATM fee by the machine’s operator. But there are steps you can take to cut down on ATM costs when traveling.
What ATM fees apply?
If you’re using an ATM that belongs to your bank, you generally won’t have to pay anything. But if you use an out-of-network ATM, you could have to pay both the ATM’s fee and your bank’s fee.
ATM fees range from around $1.50 to $3.00 on average, but can sometimes be much higher in casinos and bars.
Bank fees for using an out-of-network ATM are set by each individual bank. As of May 2019, Bank of America, Chase, Citi and Wells Fargo all charge $2.50 for an out-of-network ATM withdrawal. PNC charges $3.00 for out-of-network withdrawals on their Virtual Wallet account, and Capital One 360 offers free ATM withdrawals.
Foreign ATM fees
Most banks charge additional fees if you use an out-of-network overseas ATM to withdraw foreign currency. You may even be charged for both the ATM and the currency exchange. As of May 2019, the fees at the top banks are:
- Bank of America. $5.00 plus 3% of the transaction.
- Capital One 360. Free.
- Chase. $2.50 plus 3% of the transaction.
- Citi. $2.50 plus 3% of the transaction.
- PNC. $5.00 plus 3% of the transaction.
- Wells Fargo. $2.50 plus 3% of the transaction.
ATM fees around the world
On top of your bank’s fees, you may also need to pay an ATM fee if you use an out-of-network ATM. These fees can vary based on both the country you’re in and the owner of the ATM.
|Country||Fee for an ATM withdrawal||Converted into USD|
|Australia||AUD 0 to AUD 2||$0 to $1.38|
|Germany||EUR 1.95 to EUR 5||$2.18 to $5.58|
|Hong Kong||HKD 15 to HKD 30||$1.91 to $3.82|
|Ireland||Free at banks||Free at banks|
|Pakistan||PKR 0 to PKR 20||$0 to $0.13|
|The Philippines||PHP 200||$3.82|
|Spain||EUR 0 to EUR 1||$0 to $1.12|
|Sri Lanka||LKR 15 to LKR 60||$0.09 to $0.34|
|Thailand||THB 10 to THB 20||$0.31 to $0.63|
|United Kingdom||GBP 1 to GBP 1.50||$1.28 to $1.91|
*These fees were correct as of January 2019. These fees may have since changed.
Compare foreign ATM fees on top bank accounts
How do I avoid ATM fees?
To avoid racking up fees:
- Withdraw less frequently. Instead of withdrawing $20 or $40 several times a week, withdraw $100 or $200 at once less often.
- Stay in your bank’s network. Whenever possible, try to use an ATM owned by your bank or owned by a company with which your bank has a partnership. For example, Citi customers can withdraw money fee-free from any MoneyPass location.
- Use ATM locators. Most banks have tools on their websites and mobile apps to help you find your nearest ATM. Put these tools to use if you ever need to find your nearest fee-free place to withdraw cash.
- Get cash back at checkout. If you use your debit card in a store, you may be able to get cash back at the checkout without paying any fees.
- Fee-free accounts. Some checking accounts reimburse you for ATM fees or let you withdraw a certain number of times without paying any fees.
- Pay with card instead of cash. These days, most modern merchants have the capability to accept credit or debit card payments. The amount of times you actually have to use cash to pay for your purchases is actually quite small, so consider paying with your card instead of cash wherever possible.
- Remember that you’re not just charged for withdrawals. As well as a fee for withdrawing cash, many banks will charge a fee of up to $2 if you use one of their ATMs to check your account balance. You can perform the same task for free online, so don’t use an ATM to check your balance unless you’re fully aware of any fees that may apply.
ATM fees can start to add up quickly — especially if you’re traveling overseas. Keep track of your ATM spending, take steps to reduce what you pay in fees and compare checking accounts to find one with ATM fees you can live with.