Using an ATM abroad
 

Hi, flying from the UK to the USA tomorrow, and just had a question about using atm's over there. Basically, I was just curious as to how my balance would read over there with the exchange rate 'n all. Would the atm read my balance in GBP from back home, and then convert to USD everytime I use a machine? Or will it keep the USD balance the first time I use a machine? Just curious as to how it all works.

Also a side question, I have an SLR camera that I will be carrying on with me onto the plane. Its in its own bag, but I usually stick it in my messenger bag with all my other items, just wondering if I'd be able to carry it seperately like a laptop bag?

Thanks

It's hit or miss if the ATM will even show your balance, but in my experience, the balances have been in local currency. It's fun in some countries to see a 7 or 8 figure balance in your account! :D

1. Agreed, it's hit or miss on showing a balance, but it'll be in dollars if shown.

2. If they allow one carry on and one personal item, it sounds like it'll qualify as the latter, but check with your airline as to what they allow.

Thanks for the help guys. So the balance in USD will go up and down depending on the exchange rate?

Correct, it will be based upon whatever that bank uses to calculate the daily exchange rate.

You may also want to check with your UK bank and see if they have any partnerships with any US banks. If you use the partner bank's ATM in the US you can save on ATM fees. ATM fees can be high in the US if you use some smaller out of network ATM's like ones in restaurants or bars.

Thats great mate, thanks alot for your help!

Nope...the balance will show in the local currency. My multi-million VND balance was a lot of fun. I think I kept that receipt somewhere.

It is good to know that some banks (e.g. Chase) charge a per-transaction fee in addition to the f/x fee so it makes sense to make fewer, larger transactions rather than pulling $50/day every day.

Be careful with the balance checks. Once while in Frankfurt I decided to check my balance, entered PIN wrong one time and then got money....I was charged €4.50 for each time my card entered the ATM. Then my institution chrged me $3 international transaction fee + $2 ATM fee + 2%.
I would find and use a popular bank such as Citi Bank.
I just used one in NRT and PNC refunded me the ATM fee of $3.50. The exchange rate was also very reasonable.

About the camera bag, no one ever gave me problems for my SLR bag.

I would strongly encourage only doing like at least $100.00 or more at a time so you don't get dinged with the fees so much.

Some ATM will issue the minimum number of bills possible so you must be careful not get a huge bill that few places will accept.

MisterNice

sbm,

The dollar is the local curency.

Since the USA will be your destination there are a couple online places to find surcharge-free atms.

One is http://www.allpointnetwork.com/

another is http://www.cudollar.org/

If your own bank in the UK has a US network it may have free atm's also. HSBC Premier, for example is surcharge free and also FX fee-free fro HSBC Premier customers anywhere in the world. I bank with HSBC partly due to that benefit.

The only time I've had a problem with an ATM is when using the ATMs in Japan that don't take non Japanese cards.

Most ATMs have shown my balance in the local currency, but I've had a few that have shown it in my accounts currency (with 'AUD' shown with the balance).

:o

I saw the UK and GBP references and, well, whoopsie.

My bad.

Only on very rare occasions has an ATM in the USA decided to screw me by handing out $50s. Almost all the time they give $20s, which are useful almost anywhere (and are also the largest note that almost any shop will accept).

BTW, in answer to the original querulator, it's common for ATMs to be unable (or unwilling) to display balance on international cards. Just yesterday a machine in Asia gave me the alarming (though false) news that my balance was 0.