ATM's for beginners

Hi Gary,

ATM's are easier than carrying a mattress stuffed with cash around!

We only use ATM's for cash while travelling. Actually, we bring 2 cards from 2 different checking accounts. 1 card for each account. Just make sure you have enough cash in your checking account(s) to cover your planned expenses. Here it's better to err on the side of having too much in your checking account. We also bring 2 CC's. While we're traveling, we use the ATM's at banks only. Just like at home, most (all?) are accessible 24 hours a day. We don't use the ones in convenience stores. etc. We have used ATM's twice in the airport upon arriving also.

Check with your bank about daily withdrawl limits (you can probably get them to increase it for your trip if it's too low) and if the 24 hour period is based on your local home time or where you are traveling.

I'm sure others will be along to give better advice.

Paul

Gary, you are not alone, as I have never used an ATM either. Do use a debit card but have never gone to the ATM so it will be a first for me also in Europe. However, I will use it a couple times here to make sure I don't screw it up over there. I already have a few hundred euros so I can hit the ground running and not worry about an ATM for my first stop.

Thanks Tony. Nice to know I'm not alone. I know the actual mechanics aren't particularly difficult, but it's distressing to hear that there are machines that look like ATM's but may not in fact be, negating the positives for using ATM's in the first place.

So Paul, it sounds like a smart thing to use ATM's located at banks to ensure they actually are ATM's. What about whether or not you need to use a "Big" type bank that may need their own ATM's or can you use any ATM? Are there hidden fees if you use an ATM that's not part of your banks network?

Okay, I'll try.

ATMs for Beginners
in four steps

1. An ATM in Europe has the amazing power to suck Euros out of your NH bank account. It does so at the best exchange rate you will get unless you are a bank. Understatement: This is mighty convenient.

2. To use an ATM machine, you need an ATM card that is associated with a checking account and a PIN--a personal identification number, your passcode. You set this and keep it secret. To get local cash from an ATM, you let the machine read your card, type your PIN, and follow prompts and instructions.

3. European banks do not charge fees to use their ATMs. Your bank may do so, in the form of (1) a surcharge per transaction and/or (2) a rake off per dollar of from 1 to 3 percent. Some travelers shop around for a bank or credit union that does not charge these fees. Some banks that do charge these fees waive them for cash withdrawn from affiliated banks. The only way to know is to ask your bank.

4. Foreign banks usually impose limits on how much you can withdraw per day. This might be in the neighborhood of $200 euros. In addition, your bank may have its own limit. The two are not related. To get around the former, use your card at machines affiliated with more than one bank network. To get around the latter, talk to your bank, or bring a backup card from another bank account.

5. Two cards from two accounts, one as a backup, is a smart strategy. Your card could be stolen or an ATM could malfunction and "eat" your card, in which case you could only get it back during banking hours. Keep your backup card in your money belt, or better your partner's money belt.

There's more to know, but I think these are the basics.

I think the machines mentioned are obviously currency conversion kiosks. Probably the biggest tipoff will be the name on the machine, and the fact that you will probably only see them in the arrival terminals of airports. If you see Travelex or Thomas Cook...steer clear. An obvious bank name would be good, but I think also that if it were a currency conversion kiosk, it would note the rate of conversion, either as a sign above the machine, or in the transaction. This also would be a giveaway, ATMs would only notify you of bank fees, not canversion rate. So in the end, hit an ATM in the airport with a known bank name, then from there, you should be fine.

I always use ATM's - I am an ATM junky since my first "Barny" card at

Hey Gary,

Adam and Paul (IA) give great advice here. After your first day you'll quickly become familiar with the more "popular" bank names. It's easy and so convenient. When you get your ATM card(s), try it at home first.

Every ATM we've used in Europe (Germany, Austria and Italy, incl. airports) give a choice of languages. Yes, English is listed.

I too was hesitant the first time we went without travellers checks or any Euros and relied soley on ATM's. Can't imagine doing it any other way now. We leave home with nothing but our CC's and ATM cards. Oh, we bring about $100 US dollars with us for our departure and for our arrival back home.

Paul

Also, make sure your PIN number is only a four digit number, not five or six. And no, it does not matter if it starts with a 0.

One important thing. Call your bank and tell them you will be traveling so they don't put a fraud hold on your account. Call them at least a couple of times because they might mess up and not annotate your account correctly.

Any machine that has some version of Bank, Banc, Banco or similar will be okay. Other than that, you don't need to know much. They are everywhere and your four digit pin from home works there also.

I read a comment recently by someone who used a Travelex machine that looked just like an ATM. Unfortunately it's a electronic version of a change booth that pulls money out of your account and charges you for exchanging it. It works but charges you about twice as much (maybe more) for the service.

You asked "Will an ATM card work with any true ATM machine..."

Usually, but not always. Occasionally you run across a machine that will take only cards on European (I assume Euro) bank accounts. They are clearly marked in English that they won't take anything else. It seems I saw more of these in the Netherlands. It's not a problem as these machines are rare; just walk on to the next one.

Brad is absolutely right. Before you leave, call the customer service 800 number on the back of your card and tell them when and where you will be traveling so they don't turn off the tap.

Adam, I know it's nitpicking and possibly to much detail for touristic purposes, but European banks do not charge fees to use their ATMs. is misleading. European banks aren't into charity, they just charge the card issuing bank, not the card holder. If, how, and how much of that fee the card issuing bank gets back from the customer is a matter of the contract, as you've pointed out.

I wish I had some way to convey just how easy it is to travel with an ATM card. I'm a technological dunce, but this is so easy. Follow thru with previous posts as in tell your bank, have more than one card (I travel with 1 in my name & 1 in my husband's as they won't issue 2 cards to the same person) and have a 4digit password that doesn't begin with zero (to be on the safe side). Use the cards a few times at home to get a little comfort. If it makes you more comfortable, bring cash in large bills as back up. I always bring some $100 bills. You can also get cash from your charge card but you'll pay dearly for it. Also, I'd suggest you not get to hung up on ATM fees. I've been using ATM cards in Europe for a long time & I've never run across a machine that looks like an ATM but isn't. When you check in, ask the desk clerk for the nearest ATM. You'll also find them at the airport although I prefer not to wait in line & usually begin my trip with enough Euros to get me into the city. Once you travel with an ATM, you'll never go back.

Rose is right on the money. And I was probably in the cryogenic vault next to yours. I have walked in and out of my nearby neighborhood bank for nearly 30 years and used an ATM machine, I think, twice, maybe. But, the Good Posters of this forum showed me the light. I had to sit down with my banker who kindly explained what all these cards that I'd been carrying in my wallet for years actually did. I was terrifed of returning to Europe after 17 years without travelers check one in my pocket, but bit the bullet and it's been ATMville ever since. Relax. It's 2009. I just found out too.

It's going to be repetitive Gary but I can't emphasize enough that ATMs are the easiest and cheapest way to get Euros in Europe.

Anthony Don's posting was about mistaking a currency exchange machine at Heathrow Airport for an ATM machine. It was an important and helpful post. It was certainly a mistake anyone could make, (especially since they didn't go out of their way to call a lot of attention to the difference)but now you know what to watch for.

But, here's my point: I don't think you're going to find Travlex Currency Exchange machines lurking in the vestible of banks in Europe. Watch for them in airports but do not WORRY about this. This story does not in any way negate the superiority of using ATMs to get cash in Europe.

I know that was only part of your question, but I was so concerned you were drawing the wrong conclusion from Anthony's post. Rose and Adam did a great job of spelling things out. Check the chapter on money on the RS website and in ETBD too.

Thank you to everyone who has contributed to this question!!!

I do appreciate it and also for your ability to hold back the laughter. My kids have never understood how we survived without using ATM's, especially when I spend so much of my life involved in a significant amount of technology.

So I'm going back to plan "A" (or plan "ATM"). My banker will probably have a heart attack when I ask for the cards, but it's worth it. I think everyone did a great job explaining how this all works. The difference between the machines, and also the extra pointers are very helpful and insightful.

Thanks again!

One tip about the PIN you need. We all have so many numbers and passwords to remember that it can be hard to keep up. You can always write your PIN as part of a fake phone number in your address book. Example-Auntie Mame 433-1234. No thief will figure this out but you can look it up easily if your mind goes fuzzy from the cryogenics.

Karen

That is a VERY clever idea!

Funny thing, seems my mind was going fuzzy even before I hit the deep freeze. Wonder what that means?????

Darn it Karen, I thought I was the only one to think up that idea. It does work though. I even have them like this in my handy, since I seldom carry my phone book with me. Easy to look up.

I put my pin number on the back of the card in a substitution code. Very handy for the backup cards that I don't use that much.

Exchange at Bank ?
In Belize went into bank with cash an got Belize money. Same thing in Coast Rico,
Is this not possible in Europe ??

Lisa, sure you can do that anywhere BUT you will pay a higher exchange rate and often some additional service fees. As it is constantly repeated, the cheapest and most convenient way to obtain foreign currency is a debit card at an ATM. Other sources are available but the fees will be higher.

I do not have a debit card and will be going in less than two weeks. Sorry I am cash Person, not many of us left. LOL

Gary, We do use ATMs and still get nervous using them in Europe. Here's what we do:
1. As others have suggested, call your bank at least twice before leaving to ensure that they have made a notation that you will be using your card out of the country.
2. Find out what your bank's foreign transaction fees are.
3. Ask your bank what symbols you need to look for on the ATM to know that your card will work. (Plus, Cirrus, etc.)
4. Make sure your pin number is a 4-digit number. European ATMs do not have the alphabet on their keys.
5. We only go to ATMs at major banks and only go while the bank is open. The theory is that if we have a problem, we can go into the bank immediately. We have never had a serious problem, but we have gone in when the ATM did not give us a receipt.
6. We always use the buddy system when going to an ATM. While one of us punches in the info, the other person makes sure no one is hanging around or looking at our codes. Plus, if the ATM ever eats our card (this has never happened), we figure one of us can stand guard at the machine while the other goes in the bank.

Have fun!

In order to not forget my PIN (I have 3 different debit cards) I always use the same number. It's also my alarm code, etc. My brain just won't hold too many codes and I have enough passwords to remember at work! You can go to your bank and choose your own PIN.

I have a Cap One card w/no foreign exchange fee and no cash transaction fee. Can I use this as an ATM card? What would be the disadvantages other than paying interest on the money?

@ Phyllis,

I think most would say it would be the interest that is the problem. It starts from the moment of withdrawal of the cash and is high compared to the interest for using as a credit card. If other "cons," those'll have to come from from some others.

Have you looked at the Cap. One Direct money market account? You open it online and get an ATM card. I use that on my travels; works great. If you use it here in the U.S., select "savings." Overseas the ATMs just withdraw money without asking type of account.

Cheers.