How to withdraw cash when travelling overseas in 2026

Using a Visa or MasterCard debit or credit card to withdraw cash overseas generally gives you access to better exchange rates than those offered by foreign exchange bureaus. But that doesn’t mean it’s automatically cheap. If you don’t use the right card – or don’t use it in the right way – fees can still add up quickly.

So, how do you withdraw cash overseas?

As a general rule, use the card that incurs the lowest foreign transaction and cash advance fees. If you’re using a credit card, make sure it’s topped up (or in credit) before withdrawing cash to avoid interest charges on cash advances. We also make sure we can access our accounts online at all times. Being able to check balances and move money between accounts is essential when you’re travelling.

Transfers between banks can take a few days to clear, so we plan ahead – especially if we know we’ll need cash soon. If your bank relies on SMS for security checks, confirm that this works at your destination. If not, arrange an alternative (many banking apps now offer offline authentication options).

How we approach withdrawals

We don’t treat withdrawing cash as a routine task. Before using an ATM, we think about:

• which account will the money come from
• which currency we’re withdrawing
• and what fees might apply

Most of the time, we withdraw using our Wise account, which allows us to hold and access multiple currencies. This means we can sometimes withdraw in local currency directly, rather than converting large amounts of cash in advance. But we don’t rely on a single option. If we need to move money between countries or accounts, we compare rates first – usually between Wise and XE – before deciding how to proceed. This helps us avoid unnecessary losses due to unfavourable exchange rates.

ATM fees and withdrawal limits

ATM fees vary significantly between providers, so it pays to be selective. If the ATM charges a withdrawal fee, it will usually display it before you confirm the transaction. If it seems high and you’re not in a hurry, cancel and try another machine. Withdrawal limits are also worth paying attention to. Some ATMs only allow small withdrawals, which means you may need to withdraw more frequently, incurring additional fees each time. Unfortunately, limits are rarely displayed clearly.

If there’s a bank clerk or security guard nearby, they may know the limit. Otherwise, it often comes down to trial and error – start with the amount you want and adjust as needed. 

Avoiding unnecessary conversion costs

One of the most common mistakes is accepting the ATM’s offered exchange rate. This is known as dynamic currency conversion. It may seem convenient, but it usually results in a worse rate. We always choose to be charged in the local currency and let our own provider handle the conversion.

Safety tips

Before withdrawing cash, ask yourself how much you’d be prepared to lose if it were stolen. That’s the maximum we withdraw at any one time. We prefer ATMs inside banks (during opening hours), where there are security cameras and staff nearby. If something goes wrong, help is immediately available. We always put cash away before leaving the ATM and stay aware of our surroundings—especially when walking back to our accommodation.

What do we do?

We usually withdraw no more than the equivalent of USD400 at a time. We’re prepared to lose around USD200 per person if something goes wrong. Over time, we’ve seen how much fees and limits can vary. Across the Americas, for example, we’ve encountered:

• no withdrawal fees with Banco Pichincha in Ecuador
• more than USD5 per transaction with RBC in Trinidad and Tobago
• limits as low as USD150 (St Lucia) and as high as USD600 (Ecuador)

Because of this, we don’t assume anything—we check, compare, and adjust as we go. Behind the scenes, we track all of this through PocketSmith. It helps us see what we’re actually paying in fees and how our decisions play out over time.

Moving money between countries

If you need to move money between countries—whether for travel, tuition, or ongoing expenses—costs can vary significantly depending on the provider. We have accounts in New Zealand, Australia, and Germany, and regularly move money between them. Over the years, we’ve used several services. These days, we primarily compare Wise and XE Money Transfer before deciding which to use. Both offer competitive rates and simple transfers, so we choose based on the situation rather than defaulting to one.

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