Withdrawing money with a credit card makes everyday life easier. However, this popular payment method can also lead to higher costs when withdrawing money.
Withdraw money with your credit card – this is how it is possible
Credit cards such as MasterCard or VISA are now accepted in over 200 countries. Theoretically, you can also withdraw money with your card in all of these countries. If you have an American Express or Barclaycard, you are somewhat more restricted depending on the country.
- Basically, you need a PIN number to withdraw money from an ATM. You will usually receive this separately from your bank a few days after receiving your credit card.
- But be careful: just because you can withdraw money with your credit card in a country doesn't mean it's free.
- As a rule, credit card providers charge relatively high fees, either as a percentage of the withdrawal amount or as a flat rate.
- Therefore, always check the fee structure of your credit card.
Withdrawing money with a credit card – what you need to consider
If you want to withdraw money with your credit card, you should definitely note the following:
- Make sure that the ATM supports your credit card. You can tell this by the stickers attached to the machine. You can only withdraw money if MasterCard, VISA or similar is attached.
- Depending on which bank provides you with the credit card, fees usually range between 2 and 4 percent, and often there is even a minimum fee of 5.00 euros. You can find out how high these fees are from your bank.
- Tip: There are also free credit cards with which you can withdraw money without fees.
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