The Swamidass Sez

Monday, November 12, 2007

ATMs

If I am in a foreign country, I use the ATM to get cash.

- ATMs are faster than standing in line at an exchange center
- Most ATMs internationally don't charge a fee, so you only have the fee at your own bank. The $2-3 will probably be less than the fee/commission at a currency exchange place.
- You will get a better exchange rate in most cases. If you are getting $100 or more equivalent, the savings will probably pay for the $2-3 ATM fee.
- Most ATMs are in English also, so language would not be a problem.

Widespread ATM networks are a relatively recent development (Last 15-20 years), but it is the future. I've done this all over and it has worked perfectly.

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