How to save on ATM withdrawal fees

Nowadays, most banks charge ATM withdrawal fees, so how can you save on ATM withdrawal fees?

Many ATMs limit the amount of money you can withdraw at one time. This can cost you a lot of money. Here are some tips to help you save on ATM withdrawal fees.

Use a card specifically for cash withdrawals

Among the types of cards on the market, domestic debit card withdrawal fees are the lowest, at around 1,650-3,000 VND/transaction. Therefore, if you often withdraw money, use this type of card.

(Illustration)

Although credit cards have the function of withdrawing money, the fee is high (about 4% of the withdrawal amount). Therefore, you should not withdraw money from ATMs with a credit card.

Priority for domestic withdrawals

Currently, many banks still implement free domestic withdrawal policies such as SHB , Techcombank, or free domestic - international withdrawals such as Timo bank, VIB (if registering for Freedom package)...

Therefore, consumers should choose ATMs within the network and limit withdrawals outside the banking system to save costs.

Maximum withdrawal amount

ATM withdrawal fees depend on the number of transactions. Therefore, customers should withdraw as few times as possible, not many times.

Limit cash use

Banking experts say that instead of carrying cash around which is unsafe and can lead to many risks such as dropping or being stolen, users should choose non-cash payment solutions such as swiping cards. Paying by swiping cards helps limit ATM withdrawals and saves transaction fees.

Use account packages, choose banks with low fees

To help customers optimize costs, many banks package products, instead of selling them individually as before. Therefore, right from the time of signing a contract with the bank, small business customers or enterprises should consider using the bank's account package. These packages often offer preferential costs for account transactions, internet banking, loan interest and fees for using many other banking services.

Choosing to use a banking product package instead of individual products helps customers save on many fees, including ATM transaction fees.

According to Bang Lang/VTC News (Synthesis)

Source