Everyday accounts · Going further · 4 of 6 · About 3 minutes
Cash overseas: ATM fees
The three fees on cash from an ATM overseas, and the one no bank publishes.
- 1Cash from an ATM overseas can cost three fees.
- 2The flat fee is paid on every withdrawal.
- One question
Cash from an ATM overseas can cost three fees.
Your bank’s own ATM fee, its international fee on the cash, and a fee the ATM’s owner may add.
- 1The bank’s ATM fee: a flat amount each withdrawal. The middle one on the accounts BankMate lists is $5. 11 of the 47 that publish it charge none.
- 2The international fee: the same percentage as on purchases, charged on the cash.
- 3The ATM owner’s fee: set by whoever owns the machine. Banks don’t publish it, so BankMate never counts it. An account with “No bank fee” can still meet one.
Drag the withdrawals and the amount.
The flat fee is paid on every withdrawal.
The same cash taken out in fewer withdrawals pays the flat fee fewer times. The percentage comes to the same either way.
- ANZ Access Advantage charges $5 a withdrawal and 3% of the cash.
- Four withdrawals pay its flat fee four times. One pays it once.
Drag the cash and the number of withdrawals.
- Bank’s ATM fee
- $5
- International fee
- 3%
- You take out
- $200, once
What does your bank charge?
- $5
- $11
- $6
The answer is $11.
$5 for the withdrawal, and 3% of $200, which is $6: $11 in all. The ATM’s owner may charge its own fee on top.