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How to withdraw money for free in the USA
If you are planning a trip to the USA, you should have not only a good travel credit card but also a supply of cash. Learn how to withdraw money for free in the United States and what you need to know.
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USA travel: cash or credit card?
While credit cards are widely used and accepted in the US, it can be a good idea to have cash on hand for small purchases. Especially regarding tips, dollar bills are much more popular than the more cumbersome way of processing credit card payments.
ATMs can be found in every corner of the United States. You can even withdraw money quickly and easily from American supermarkets. However, there are a few things to remember to avoid being surprised by high surcharges.
Watch out for surcharges on cash withdrawals!
When using ATMs in the US, you may be charged fees by both your credit card issuer and the US banks themselves. To avoid at least some of these fees, you must first get a credit card that allows you to withdraw cash in the United States free of charge.
Be sure to read the terms and conditions of your prospective credit card provider, and pay particular attention to international transaction fees, cash withdrawal fees, and foreign currency fees.
Caution
When withdrawing money from American ATMs, you might have to add a "local fee" or "ATM fee” between $ 3 and $ 5 that US banks charge foreign customers. However, some banks do not charge third-party fees, and the partnership between your home bank and a US bank may also save you the fees. Look for ATMs at well-known banks such as HSBC, Citibank, or Barclays.
Withdrawing money with a credit card in the USA
Withdrawing money from American ATMs is similar to that in European countries. However, many ATMs offer extra services that make the operators extra money.
Here are the steps to getting cash in the USA:
- Insert your card into the ATM.
- Choose your language (sometimes, this is done automatically).
- Enter your PIN.
- Select the "Print Receipt" option.
- Select the "Withdraw" menu item.
- In case you are offered services such as dynamic currency conversion of the withdrawal amount, select "No" (otherwise, additional fees may apply).
- Select the amount you wish to withdraw (note the minimum withdrawal amount!).
- Take out your credit card.
- Take out your cash.
Is it possible to use an EC card in the USA?
You will not get very far in the USA with an EC card such as the Maestro because, unlike a credit card, you will either have to pay high additional fees or the EC card will not be accepted at all.
Therefore, we recommend obtaining at least two travel credit cards with good conditions before traveling to the USA.
Do you still have questions about withdrawing cash in the USA? Then check out our frequently asked questions:
Daily withdrawal limits may vary by bank or financial institution. Typically, the limit is between $ 200 and $ 1,000 per day. It is important to check with your bank for specific withdrawal limits.
Not all ATMs accept all bank cards. In some cases, you may be charged a fee for withdrawing money from an ATM not operated by your bank. To avoid fees, look for ATMs in your banking group.
You should notify your bank if you plan to withdraw money in the United States. Some banks require their customers' cards to be activated before traveling to the US. They may also have security measures to detect fraudulent activity, and going abroad unannounced will result in the card being blocked.
ATMs in the US typically use the exchange rate set by the card networks (e.g., Visa, Mastercard) for foreign currency withdrawals. This rate may differ from the official exchange rate, and currency conversion fees may apply.
It's important to follow some security precautions when withdrawing money from an ATM in the United States. These include covering your keystrokes to protect your PIN from prying eyes, checking the ATM for suspicious devices or anomalies that could indicate skimming, and leaving the ATM if you feel unsafe or observe suspicious behavior.
In most cases, ATMs in the US dispense only US Dollars. However, it is possible to withdraw money in other currencies from some ATMs in tourist areas or at airports. Please note that fees and unfavorable exchange rates may apply.
It is rare to deposit money at an ATM in the USA. Most ATMs in the USA specialize in cash withdrawals.
If your card is confiscated at an ATM in the US, you should contact your bank immediately to resolve the issue. They will be able to provide instructions on how to recover your card and recommend further steps to resolve the issue.
