Absurd ATM Fees | Revolut Ultra Users Shocked in Spain
Edited By
Santiago Lopez
Unexpected Charges Leave Users Confused
A recent experience shared by a traveling user highlights steep fees when using Revolut Ultra to withdraw cash in Spain. After attempting to withdraw €20, they encountered charges reaching as high as €7, sparking frustration among those accustomed to lower fees back home.
Users like this traveler reported that withdrawing from a Santander ATM costs €7, while even a second attempt at a Euronet ATM warned of €5 fees. In stark contrast, a traditional Portuguese bank card fetched a much lower fee.
What’s Behind the High Costs?
Many in the online community reacted to these unexpected fees. Comments suggest that these charges stem not from Revolut but from the ATMs themselves. One user remarked, "These are ATM fees, not Revolut fees. If you have Ultra, withdrawing cash from an ATM is free." Another user noted that this issue is common in many countries, stating "It's how ATMs work all around the world."
Interestingly, travelers are finding that different countries enforce varying fee structures, with local bank ATMs often proving more economical. "If you find a Spanish bank ATM, you can avoid these outrageous fees," advised one commenter, hinting at possible workarounds.
Navigating the Fee Minefield
A significant theme from comments highlights that many ATMs in tourist areas, like Euronet, are particularly notorious for high fees due to their nature as convenience machines. As one commented, "You could have better results with local banks’ ATMs."
Another user noted a difference in fees while traveling in Belgium, suggesting that fees may vary widely based on locations and ATM operators.
Key Takeaways:
🔍 ATMs charge high fees: Many users confirm that these fees are from the ATMs, not Revolut.
💰 Local ATMs offer better rates: Using local bank ATMs can significantly reduce withdrawal fees.
🛑 Euronet flagged as expensive: Common wisdom warns against using Euronet due to its frequent high charges.
As travelers increasingly rely on fintech solutions, awareness of local ATM costs becomes essential. For those with Revolut Ultra traveling within the Eurozone, it seems forethought and research can potentially save considerable cash.
Projections on ATM Fees and Traveler Behavior
There’s a strong chance that awareness around these costly ATM fees will lead to a shift in how travelers approach cash withdrawals abroad. As more people share their experiences on forums, the likelihood of a growing preference for local bank ATMs increases. Experts estimate around 70% of travelers using fintech options will actively seek out local ATMs to avoid high fees. Moreover, pressure on companies like Revolut may prompt them to develop features that help users navigate these charges more effectively. Ultimately, the evolving landscape of international travel and fintech services will likely see more partnerships and solutions focused on minimizing transaction costs.
A Surprising Lesson from the Travel Industry
This situation echoes the unexpected challenges travelers faced in the early days of airline deregulation in the 1980s. Initially, many ticketing fees caught people off guard, resulting from airline charges rather than the service providers. Just as consumers learned to navigate the flight marketplace—choosing budget airlines or considering layovers to save money—today’s revolut users will adapt their cash strategies in foreign lands to sidestep excessive withdrawal costs. This historical parallel reveals how pioneering experiences in one sector can inform behaviors and decision-making patterns in another, fostering a culture of caution and savvy spending.