I just returned from Belgium and am comparing the "cost" of charging and getting money from an ATM. Indeed the best rate was from the ATM - the best using my citibank ATM at a citibank office - but the small difference might be more related to getting the money 2 days later and a slightly differenct exchange rate. Interestly my Citibank Click card had a worse exchange rate than my regular citibank visa and mc. I am having them look into it to see if this is a mistake or it might be a regular occurrence. If so, I will not be reserving my next international hotel with the click card.
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DtG