Using Your ATM Abroad
June 27 marks the 40th anniversary of John Shepherd Barron’s invention, the ATM. It was first installed in a Barclay branch in Enfield, north of London.
Also known as cash machine, hole-in-the-wall, cashpoint and Bancomat, Automated Teller Machines makes it convenient for us to get the local currency while traveling abroad without having to carry a bagful of cash. Again, thanks to John Shepherd Barron.
Now, when you plan on using your ATM on your next trip abroad, note that…
- some banks charge fees. Check with your bank before you start recklessly using your ATM card during your travels. If you have to pay a high fixed fee, try to make large withdrawals (hence less often) to minimize fees.
- check your local bank if they have partner banks in Europe or if they are part of any alliance with members in Europe. If they do, you will be spared the ATM-use fee abroad and only need to pay a conversion fee.
I remember my first trip to Europe back in 1998. I looked for maestro, cirrus, mastercard and visa signs but didn’t bother to check anything else. A big surprise was waiting for me when I got back and saw the charges I had incurred while vagabonding in Europe. Don’t make the same mistake I did!
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