Bank machines, often an easy way to get local currency. No need to get sweaty cash foot from wads of bills in your sock. Getting cash out as needed is convenient, especially in developed countries. We have specialized in the opposite of the Geneva-type experience, using cash machines in the crazy corners of the world.
Which machines will work?
Check before you leave what machines will take your cards. Even in Japan our cards only worked consistently in the 7-11 Citibank cash machines. We found this tip online before we left. It saved us from the bank machine treasure hunt when we were exhausted and just wanted sushi.
Notify Banks
Make sure your bank knows where you are travelling and the dates. You can often set these through your online banking or a quick phone call. Otherwise your card will likely not work. Some cards only allow for a few weeks and you need to call back in.
Cash at the Border
Some countries require you to bring a certain amount of money in per person in their currency. Check for current requirements before entering any country so you aren’t delayed at the border. There are usually cash machines available in the airport.
Bank Machines in the Wild Wild Wherever
Using bank machines in more remote parts of the world is a bit of a different animal. This is our specialty and a few lessons we’ve learned the hard way.
PIN Harvesters
Some machines aren’t legit. They are more like card and PIN harvesters. There are clever schemes out there. Always keep a close eye on your account. When flat screens are being purchased out of Malaysia (happened to us), unless you are in Malaysia, your card has been compromised.
Cover Up
Perhaps this is already a reflex. Always cover your hand when putting in your PIN. Some cameras aren’t always there for the right reasons.
Don’t Go First
I don’t use machines cold anymore. I will wait until other people use the machine successfully, get actual money out of it. Ask other tourists of expats which are the most reliable machines in town. They will know.
Swipe or Suck
Now that sounds a little wrong. There are machines that suck in your card to read it, and those where you swipe your card. If you have a choice, choose a swipe machine and keep your paws on your card.
Back-Up
Have a back-up card in case your card does get eaten. Depending on where you are it’s expensive to get a new card couriered to your location. Don’t have your card as your only source of funds. I always have a hidden cash stash. When we first moved to Guatemala the cash machines weren’t working in town because there was a shortage of 100Q bills, the only denomination the machines dispensed. Rumor was that someone from the national treasury forgot to put in the order more. No matter what the reason, the machines were down for ten days.
Fees
Some people don’t care what these are, others do a great deal. Some cards charge a flat withdrawal fee, others include a percentage of the exchange. If it matters to you, do the research, shop around for cards that are the most travel friendly.
Fingers crossed that the bank machines are kind and keep your funds flowing wherever your travel takes you.