ATM Bank Machine Exchange Rate

If you go with the correct bank, such as an online bank you will not be charged any fees. I have not been charged any ATM foreign transaction fees, plus if the ATM might charge $1.00, my bank reimburses the amount back to my account.

Hello Enlight, are you not in another country than your home? You are a citizen of the which country traveling in which country?

Note, fees can change from Machine to Machine, so always a lottery.

I would like to know the name of the online Bank you use.

I have a personal relationship with my Banker and I get a multitude of problems solved so I am not going to change. I use NationalCity.com, however they was just purchased, maybe I will need to change.
Andy from the USA in Guatemala.

This is a useful post, Andy. I, too, always use ATMs abroad, never currency changers or traveller checks- to me this just means there's one more person in the middle taking a cut.

I was in Geneva in November, and the ATMs there let you select which currency you want your bank to be debited in. So I had a choice to let the ATM charge my bank in Sterling or in Swiss Francs (or any other major currency). The advantage of this was a) the swiss banks who ran the ATMs offered a closer to accurate (less profitable to them) exchange rate and b) my bank didn't get to charge me a fee, because it only ever dealt with my native currency.

They were also rolling this out in most shops/ cafés, so when i paid my bill in Starbucks etc. I was again able to pay by card, in british pounds.

However, I have the option to pay in Francs or other currency, if my bank offered a preferable rate.

I truely think this kind of option is the future, and I dream of a day when this exists everywhere in the world.

I am an American and have been traveling the Middle East for over a year and have not been charged a single fee because my bank offers global transaction fees.

I bank with UFB Direct, they are located in Indianapolis. HSBC is also good, although UFB pays the highest interest rate.

I personally don't have any problems with banks because I read the discloser of the account I am opening.

Happy Trails.

Thanks you Enlight, here is the link to that Bank. ufbdirect.com

The world of Banking has evolved a lot in the last 10 years of my perpetual travels. Take great care readers when arranging any banking, it truly is a horrendous problem if it does not work. I carry two cards at all time, because there are many problems that can happen. Eat your card, gets shut off because of too many attempts, lost, stolen, etc. Although I have to admit, the machine has never made a mistake in my 10 years of travels.