Hello. I've read the RS guide book section on ATM usage but still have a question. I've noted that I should use only bank ATM's. Are the ATM's found at London Heathrow airport bank ATM's? Thank you in advance.
Apparently Heathrow ATMs. are not bank ATMs. I was in T2 in April and tried a Travelex ATM as an experiment, and it did NOT have a rip-off exchange rate. Rather, the exchange rate was the same I get at Bank-ATMS, appx. 1/2 of 1% over the published daily Interbank rate. The trick is to make sure that the transaction is done in GBP, if you are asked to do this in USD, decline the option - as that is where they charge you several percent over the exchange rate.
The distinction at a customer level between bank- and independently-operated ATMs in the UK is much less than it was and maybe still is elsewhere.
Over half the ATMs in the UK are now independently operated from banks. Yes some ATM operators will have an access fee at some of their ATMs but this is clearly stated. Many machines found in shops etc these days do not as the operator can make sufficient profit from the network fees in high footfall areas. The above warning against dynamic currency conversion applies to all ATMs. Take care always to decline conversion.