I'll be in Munich this coming July and plan to get my Euros (hopefully at a great exchange rate like we've been seeing lately!) at ATM's. I know that airport ATM's are usually more expensive due to convenience. Are train station ATM's more expensive too? Also is it ok to go to one of the local banks to get exchange for lower bill denominations for free? Here in the States it seems you can't do anything unless you bank with that bank, which I understand. Just didn't know if it's the same way in Europe.
Thanks!
Posted by
Tresana, Highlands Ranch, CO, USA
23626 posts
First, all bank owned ATMs will give the same exchange rate regardless of location. BUT not all ATMs looking machines are bank own. Some may be private from an exchange bureau which could be located in an airport and charge a higher rate. I have never seen one but it has been reported which is why you have have gotten the idea that ATMs in airport are more expensive.
Second, not sure why you would need to go to a bank to exchange for a lower bill. You get a variety of bills from an ATM and have found that the 50E bill is widely accepted except for street vendors who don't have a lot of change. I have never felt a need for smaller bills. Try your hotel. I am sure as a guest they would be glad to break a 50 if that is your need.
Posted by
Lakewood, Colorado
19274 posts
I basically agree with Frank. The European banks don't attach fees to transactions at their ATMs. It's your bank that does that. Most major banks, rather passing on to you the Network's ~½% currency exchange fee, pay the Network in Euro, then charge you 3% for currency exchange.
There is an ATM (Deutsche Bank, I think) in the baggage claim hall of Terminal 2 at MUC. My bank gives me some number of free ATM withdrawals per period. I got Euro there last August and was charged the Interbank rate.