Oh Wow! I'm not at that level, knowing ATMs with best exchange rates! I was looking for an ATM that would just give me money!!
Sandra, the ATM's do "just give you the money", they don't have an exchange rate, they do not have an exchange rate. It is what happens after that that costs you.
The exchanging is done by the card company (Visa, Mastercard), hopefully at the interbank rate. Your bank then adds their foreign transaction fee.
- You get €200 out of an ATM.
- The ATM company possibly adds ATM fee (but most don't, you can avoid this by shopping around)
- The card company (Visa, Mastercard) convert at interbank rate (today's rate, €1 = USD 1.18), €200 = USD 236.
- Your bank then possibly adds a foreign transaction fee, a % AND a flat charge. For example 3% + USD 3 --> USD 246.08. This last item you avoid by changing to a bank with no foreign fees.
EXCEPT if you get suckered into the DCC, where the ATM company does the conversion at whatever rate they want.