Fees for ATM Withdrawals | New Users Question Revolut Costs
Edited By
Mohammed El-Sayed
A recent inquiry from a new Revolut user sparked a conversation about withdrawal fees at ATMs across Europe. Many users voiced concerns about hidden charges, particularly at those random machines often encountered during travels. The question arose: how much does it truly cost to withdraw cash when using a Revolut card?
The Basics of ATM Withdrawals
Users are wondering about the actual fees involved in withdrawing €100 from various ATMs. Notably, some users highlighted the potential for extra charges by the ATM itself.
"The ATM might charge you too. For example, in Greece, all ATMs charge when used by a bank card different from the ATM," remarked one commenter, emphasizing that travelers should be mindful.
For those on the Free (Standard) plan, the withdrawal policy provides up to five free withdrawals or a limit of €200 per rolling month. After that, a 2% fee kicks in, with a minimum charge of €1 per withdrawal.
Different Scenarios to Consider
Interestingly, not all ATMs function the same way. If a user encounters a tourist ATM, different rules might apply.
"Unless it’s a tourist ATM, if it asks you about the exchange rate always let the bank do it (free with Revolut) and not the ATM (10-20%)."
This highlights the importance of understanding the varying fees that different ATMs may impose.
Key Points from User Feedback
ATM Charges: Users noted that many ATMs levy their fees, particularly in tourist-heavy areas.
Withdrawal Limits: Under the Free plan, users can make limited free withdrawals each month.
Exchange Rate Awareness: Always opt for the bank's exchange rate to avoid extra costs.
Critical Takeaways:
△ Withdrawal Limits: Up to 5 withdrawals or €200 monthly are free.
▽ User Advice: Avoid tourist ATMs for better rates.
※ “Let the bank handle the exchange” - A caution from a community member.
As more people engage with digital banking options, understanding fee structures becomes essential. How are the rising costs of cash withdrawals affecting travel plans and budgeting for everyday expenses?