Using ATMs is part of everyday life for many, but the distinctions between ATMs and ATMs are not always clear to users, which can lead to unnecessary commission payments. Understanding these differences can avoid additional costs and make operations more efficient.
What distinguishes Multibanco from ATM?
ATMs in Portugal are managed by SIBS (Sociedade Interbancária de Serviços) and are part of a national network that offers a wide range of services, such as withdrawals, transfers, service payments and balance inquiries. The “Multibanco” brand is internationally recognized as an example of innovation in the sector.
On the other hand, ATMs, often associated with foreign networks such as Euronet Worldwide, are mainly aimed at tourists and are strategically located in shopping centers, airports and other busy urban areas. These ATMs offer basic functionalities, such as withdrawals and transfers, but they often apply fees to users with foreign bank accounts or when the card used activates the credit function.
Impact of networks on the cost of operations
Using an ATM does not involve additional costs for operations such as debit withdrawals, regardless of location. In ATMs, there are factors that can influence costs. For example:
- If the card used is dual (debit and credit), operations can be automatically processed as credit transactions, generating commissions.
- Conventional debit cards tend to have no additional costs, even at foreign ATMs.
Tips to avoid unnecessary commissions
- Choose your payment option carefully: If your card is dual, always select “Multibanco”, “VisaElectron” or “Maestro” at the payment terminals to ensure that the transaction is processed by debit. Avoid options such as “Visa”, “Mastercard” or “American Express”, which activate credit.
- Reduce frequent withdrawals: Whenever possible, opt for card payments rather than withdrawing cash.
- Confirm costs in advance: At ATMs in foreign networks, commissions are generally displayed before confirming the operation. Read the terms carefully.
Understanding the differences between ATMs and ATMs allows for more conscious use and avoids paying unexpected costs. Furthermore, choosing the right options during transactions can save you money and ensure greater convenience in everyday life.
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