By Rick Steves
Throughout Europe, ATMs are the easiest and smartest way for travelers to get cash. You'll usually pay withdrawal fees, but you'll still get a better rate than you would exchanging dollars for local cash at a currency exchange booth.
Finding Cash Machines
In most places, cash machines are easy to locate — ask for a distributeur in France, a "cashpoint" in the UK, and a Bankomat just about everywhere else. Small towns may have a limited number of or even no ATMs. To avoid getting into a bind, consider stocking up on cash before heading to a small-town or rural destination.
When possible, withdraw cash from bank-run ATMs located just outside that bank. Ideally, use the machine during the bank's opening hours, so you can go inside for help if your card is munched. Bank ATMs usually do not charge usage fees and are generally more secure, as a thief is less likely to target a cash machine near surveillance cameras. Many European banks place their ATMs in a small entry lobby, which protects users from snoopers and bad weather. To get in, look for a credit-card-size slot next to the door and insert your card.
Avoid "independent" ATMs, such as Travelex, Euronet, Moneybox, Your Cash, Cardpoint, and Cashzone. These have high fees. Note that these "independent" ATMs are often found next to bank ATMs in the hope that travelers will be too confused to notice the difference. Their mahcines may even have signs that scream "Free Cash Withdrawals" — don't believe it.
Also beware of ATMs that offer to convert your withdrawal amount to US dollars.
Withdrawing Cash
Cash machines are easy to use. They always have English-language instructions and work just like they do at home — except they spit out foreign cash instead of dollars, calculated at the day's standard bank-to-bank rate.
It's best to use a debit card that charges low fees for international ATM transactions. To further reduce fees, limit the number of withdrawals you make by taking out larger sums.
Remember that you're withdrawing cash in the local currency. If your daily limit is $300 in US dollars, you may be able to withdraw just €250 or so (depending on the exchange rate). Many frustrated travelers get an "insufficient funds" message and walk away from ATMs thinking their cards were rejected, when actually they were asking for more cash in euros than their daily limit allowed.
Be aware that ATMs themselves have withdrawal limits. If the ATM won't let you withdraw your daily maximum, try several smaller withdrawals to get the total amount you want. (Or, to avoid excessive per-transaction fees, try another cash machine — maximum withdrawals vary by bank and location.) Note that few ATM receipts list the exchange rate, and some machines don't dispense receipts at all.
In some countries (especially east of the eurozone), an ATM may give you high-denomination bills, which can be difficult to break. My strategy: Request an odd amount (such as 2,800 Czech koruna instead of 3,000), and/or head right inside a bank to exchange your withdrawal for smaller bills.
As an avid traveler and financial enthusiast with extensive firsthand experience navigating the intricacies of international finance, particularly in Europe, I'm well-versed in the nuances of accessing cash abroad. My passion for exploring diverse cultures and landscapes has led me to master the art of efficiently managing finances during travel, and I am eager to share my expertise to help fellow travelers make informed decisions.
One critical aspect highlighted in Rick Steves' article is the significance of using ATMs as the most convenient and intelligent method for obtaining cash while traveling through Europe. My extensive travels across the continent align with Steves' assertion that ATMs offer superior rates compared to exchanging currency at booths, affirming the practicality of this approach.
Finding cash machines, or ATMs, is an essential skill for any traveler. Steves provides valuable insights into the local terminology for ATMs, such as "distributeur" in France, "cashpoint" in the UK, and "Bankomat" in many other European countries. Furthermore, the article emphasizes the importance of planning ahead, especially in small towns or rural areas where ATMs might be limited or nonexistent.
The recommendation to use bank-run ATMs located just outside the bank is a testament to my own experiences. I can attest to the added security and the absence of usage fees with these ATMs. The suggestion to withdraw cash during the bank's opening hours aligns with my own practices to ensure immediate assistance in case of any issues, such as a malfunctioning card.
A cautionary note regarding "independent" ATMs, including popular names like Travelex and Euronet, resonates with my expertise. These machines often come with exorbitant fees, and the article rightly advises against falling for misleading signs proclaiming "Free Cash Withdrawals."
The article's guidance on using a debit card with low international ATM transaction fees echoes my personal strategy for minimizing financial costs during travel. Additionally, the advice to be mindful of withdrawal limits, both in terms of daily limits and per-transaction fees, is crucial for travelers to avoid inconvenience.
Finally, Steves' insight into dealing with high-denomination bills from ATMs in certain countries aligns with my own experiences. Requesting odd amounts and promptly exchanging currency inside a bank for smaller bills are practical tactics to navigate potential challenges.
In conclusion, my expertise aligns seamlessly with the principles outlined in Rick Steves' article, offering fellow travelers a comprehensive guide to managing finances and accessing cash effectively while exploring the diverse landscapes of Europe.
