An ATM (Automated Teller Machine) is a self-service terminal that lets you withdraw cash, deposit money, check your balance, and carry out basic banking tasks, without going into a branch or speaking to anyone. ATMs are available around the world, around the clock.

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Why ATM fees exist\n

Using an ATM can cost money, and it helps to know why. There are typically two layers of fees:

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Operator fee, charged by the bank that owns the ATM when you're not one of their customers

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Foreign transaction fee, charged by your own bank for processing a withdrawal made abroad or through a different network

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If you're traveling and use a local ATM outside your bank's network, both fees can apply at the same time. On top of that, some ATMs offer to convert the amount into your home currency on the spot, a process called Dynamic Currency Conversion (DCC). It sounds convenient, but the exchange rate is almost always worse than what your bank would apply. Decline the conversion and let your bank handle it instead.

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How to reduce ATM costs\n

A few simple steps can cut ATM fees significantly:

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Use ATMs within your bank's own network whenever possible, most offer free withdrawals to their own customers

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Pay by card rather than withdrawing cash where you can; contactless and chip payments avoid ATM fees entirely

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Always decline Dynamic Currency Conversion at foreign ATMs

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Withdraw larger amounts less frequently rather than small amounts often, if a fee applies, fewer transactions means fewer charges

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ATM withdrawals with bunq\n

bunq is built for people who move around. Depending on your plan, you get up to 6 free ATM withdrawals per month, anywhere in the world. And because bunq applies ZeroFX on card transactions, you don't pay the exchange markups that traditional banks typically add, saving up to 3% per withdrawal when you're abroad.

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bunq also supports Foreign IBANs, which means you can make local transactions in other countries without racking up international fees. Whether you're at home or traveling, your bunq card works the same way.

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You can also make ATM deposits at supported locations, check the bunq app for nearby deposit-enabled ATMs.

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Frequently asked questions\n

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What does ATM stand for? Automated Teller Machine.

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Can I use any ATM with my bunq card? Yes, bunq cards work at ATMs worldwide. The number of free withdrawals per month depends on your plan.

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Is it safe to use an ATM abroad? Generally yes. Use ATMs attached to banks or well-known retailers, cover the keypad when entering your PIN, and check for anything unusual before inserting your card.

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What's the difference between a free ATM withdrawal and a foreign transaction fee? A free withdrawal covers the ATM operator fee. Foreign transaction fees relate to currency conversion, bunq eliminates these with ZeroFX.

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