New Users Query Revolut ATM Fees | Insight into Withdrawal Costs
Edited By
Emily Nguyen
As European travelers seek options for accessing cash, a new user raised questions about fees related to ATM withdrawals from accounts with Revolut. The inquiry reveals varying experiences and costs that could surprise newcomers to the digital banking scene.
Understanding the Withdrawal Process
When planning to withdraw €100, potential users need to consider multiple factors that could affect their overall costs.
ATM Charges Vary by Location
According to one user, "The ATM might charge you too." In some countries like Greece, ATMs impose fees when cards from different banks are used. These unanticipated costs can add up, particularly for travelers.
Free Withdrawals and Fees Explained
Another comment clarified the fee structure for those on the Standard plan. "Assuming you are on the Free plan, then you get free withdrawals up to 5 ATM Withdrawals or €200 per rolling month," it states. After reaching these limits, users incur a 2% fee on withdrawals, with a minimum charge of €1.
Tourist ATMs and Exchange Rates
Users also expressed caution regarding tourist ATMs. One observation emphasized the importance of letting the bank handle the exchange rate, stating, "If it asks you about the exchange rate always let the bank do it (free with Revolut) and not the ATM (10-20%)." This advice can help prevent unnecessary expenses when withdrawing cash abroad.
Key Takeaways
🔍 Users face different ATM charges based on their card combinations.
💰 Standard plan offers 5 free withdrawals, then a 2% fee.
⚠️ Avoid tourist ATMs to dodge high exchange rate charges.
Revolut’s fee structure can be favorable, but understanding how to navigate different ATMs is crucial for travelers. With varied experiences and fees across Europe, new users may want to do their homework to ensure they maximize benefits from the platform.