Foreign ATM Withdrawal - What determines the exchange rate?
What determines the exchange rate when you withdraw cash from a foreign ATM?
The live market exchange rate at the moment of withdrawal? A daily average exchange rate? An exchange rate concocted by the bank that owns the ATM machine? An exchange concocted by your issuing bank? Is the exchange rate determined later on, after the transaction posts to your account?
I've contacted my issuing bank. None of the employees are able to give me an answer.