With summer at its height and thousands of Portuguese traveling to European destinations, money lifting remains a necessity in many situations: tips, taxis or small purchases in local markets. However, there is a usual error in automatic boxes that, according to the experts cited by the British newspaper Express, may imply considerable financial losses.
The so -called “Dynamic Currency Conversion” is a common option in many ATMs abroad. At first glance, it has an advantage: show the amount to be charged in euros. But this apparent transparency can be expensive, warns the experts on travel.
The conversion trick that should avoid
Hadleigh Diamond, commercial director of the British company specializing in luxury transport service, SCS Chauffeurs, says that choosing to convert the amount to euros at the time of the transaction can entail a very unfavorable exchange rate, as well as hidden commissions.
“It’s a trap,” says the commercial director. When choosing to raise money in local currency, not euros, the exchange will be done by the customer’s bank, almost always at a fairer fee.
Where raising money also makes a difference
In addition to the option chosen on the screen, it also matters the location of the TMJ. Many people choose to raise money on arrival at airports or tourist areas, places where terminals are often managed by private operators, not by recognized banks.
These equipment tend to apply higher rates and less advantageous burnings. Therefore, Hadleigh Diamond recommends using Google Maps to look for “Bank ATM box” and give preference to institutions like Santander, Ing or HSBC.
These bank machines are often situated in discreet and safe areas, with video surveillance and less movement, which represents greater tranquility for those who remove higher amounts.
A small gesture that can save a lot
Many travelers are preparing for delays of flights or hotel problems, but they forget the impact that a poorly done survey can have on the budget. “If the transfer driver fetches him from the airport, ask him to stop at a bench at before reaching the accommodation. It can save a lot,” Diamond suggests.
According to, another frequent mistake is to make several small surveys. Each operation implies a new commission, which quickly accumulates. It is more advantageous to raise an amount larger at once, and keep it safe than to make several surveys throughout the trip.
Although many tourists are already aware of the exchange rates rates, the costs hidden in the automatic boxes continue to surprise. Avoiding immediate conversion and choosing the right place to raise money can make a difference, and save hundreds of euros over the holidays.
Also read:
