Wednesday, July 27, 2011

ATM advantage


Money, money, money!

The general consensus for managing money abroad is that ATMs are the way to go. If you limit your withdrawals by taking out a large amount each time, you can keep your fees below the 3% transaction fee charged for using your card to buy stuff directly.

I went through the expenses for our trip, and sure enough, our fees came out to 1.1%.

Fortunately, I was able to mainly use ATMs in the Global ATM Alliance, avoiding the $5 transaction fee, so I didn't have to worry about taking out large amounts each time. And it doesn't look like I was charged any fees in France. Woot.

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