Foreign ATM Withdrawals: How to Avoid Costly Mistakes
Travelers can save money by opting for local currency at foreign ATMs and avoiding unfavorable dynamic currency conversion. Using local bank ATMs generally offers the most cost-effective way to access cash abroad.
Frankfurt, June 24, 2026 – While card payments dominate daily life, cash remains an important supplement in many holiday destinations, whether for a souvenir at a market or an espresso at a beach cafe. The most cost-effective way to obtain cash abroad is generally through local ATMs. However, making the wrong choice at the terminal can lead to unnecessary expenses.
The primary rule for ATM withdrawals and card payments abroad is: always opt for the local currency. Offers of "instant conversion to euros" may sound convenient, but often hide unfavorable exchange rates and high surcharges. Choosing the local currency saves money that is better kept in your holiday budget. Travelers should also pay attention to the fees charged by the ATM operator, which are displayed before the transaction is completed.
ATMs located inside bank branches during opening hours are ideal, as they are better supervised and bank staff are available to assist with questions or technical issues.
Important security measures include setting the ATM menu to a language you understand, always covering the keypad when entering your PIN, and maintaining a safe distance from others. If suspicious attachments or an unsafe environment are detected, the transaction should be canceled immediately. Regular checking of account activity helps to identify any suspicious debits early on. In case of lost cards or smartphones, or unauthorized transactions, cards must be blocked immediately. The blocking emergency number is available 24/7 at +49 116 116 or +49 (0) 30 4050 4050. Any theft or loss should be promptly reported to the local police.