While they have the high fees ($5 USD per withdrawal) for banks outside their network, by using partner ATMs you can avoid ATM charges.īelow is a list of major banks in this alliance: This is a network of large banks that have come together and waived fees, allowing for free ATM withdrawals. Secondly, pick a bank in the Global ATM Alliance. It’s literally saved me thousands of dollars over the past decade of traveling the world. Since getting it, I’ve avoided all ATM fees. This is my primary bank card and I’ve been using it for years. ![]() Their ATM card can be used in any bank machine around the world, and you’ll never pay a fee. You need to open a high-yield checking account in order to qualify, but there is no minimum deposit required and no monthly service fee. This is significant because while there’s a growing number of banks that don’t charge ATM fees themselves, there are very few that offer unlimited reimbursement of fees that ATMs charge you. ![]() To help you avoid fees, here are four things you’ll want to do on your next trip to eliminate those pesky fees:įirst, if you are a US resident, the best bank to use is Charles Schwab.Ĭharles Schwab has no fees and reimburses all your ATM fees at the end of each month. Why give banks money you need for travel? You did a lot of work saving your money - don’t waste it by giving it to a bank. And most travelers I know go to the ATM even more than twice a week, which only increases the amount in fees they pay. That is $14 per week, $56 per month, or $672 per year! Do you know how many days you could spend in Southeast Asia for that amount? Almost 3 weeks!Įven if you only use the ATM once a week, that’s still $364 USD per year. Fees vary around the world, but let’s say that you end up paying around $7 USD per withdrawal.
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