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Where Can I Withdraw Cash Abroad?


Posted November 13th, 2009 and last modified December 15th, 2009

If you are heading to a foreign country and you are taking a use-abroad credit cardwith you, you should have absolutely no problem finding an ATM that accepts your credit card.

If you have a Visa or MasterCard, look for their logo on the front of the machine, or look out for a “Link” logo which also indicates that these cards can be used. If you are carrying just American Express, you may have less coverage, but you should still not struggle to find a place to withdraw cash.


The whole notion of a use-abroad credit card being used to withdraw cash in a foreign country may be frowned upon by some. Credit cards are not the best cash-withdrawal tools in their country of issue, but you may be hit by even higher charges for using them abroad.


The upside is that they provide a convenient source of funds, instead of carrying large amounts of cash around. Traveller’s cheques are always an option, but exchange bureaus are nothing like as widespread as ATMs, and they have their own charges for currency transactions, and they are not open 24 hours. For this reason, a use-abroad credit card as a back-up source of funding is a good idea.


Returning to the downside again, not only will a cash withdrawal abroad attract a high rate of interest and a cash-handling fee, it may also be hit by dynamic currency conversion. This is a sneaky trick pulled by some banks when they offer you the option of being charged in your own currency or the local currency. Unless you know, this may appear a pretty irrelevant question; either way, some conversion will have to occur somewhere along the line.


However, you should always choose to have the transaction charged in the local currency. This means that it is the credit card provider who will deal with the conversion, and that will be around 2% to 3% of the withdrawn amount. If you choose to be charged in your own currency, it will be the bank’s job to make the conversion, and they will charge 4% and upwards to do it.


Your best bet will always be to have some cash on your person, and failing that, you should make some enquiries whilst at home to see if your bank will charge you for using your debit card whilst abroad. If not, and another bank does offer this option, a new bank account for the purposes of foreign travel could be a sound move.


Remember that making cash withdrawals on your use-abroad credit card should not be viewed as your regular means of accessing cash, rather as an emergency option.



Related posts:

  1. How Do Foreign Service Fees Affect Use-Abroad Credit Cards?
  2. How To Use Credit Cards When Travelling Abroad
  3. What Is Bad About Dynamic Currency Conversion?
  4. Do Use-Abroad Credit Cards Cover My Purchases?
  5. How To Use A Credit Card When Travelling Outside Australia



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