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When I went to Europe last year, the ATM/CC exchange rate wasn't to bad.

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The ATM/CC exchange rate will generally be the inter-bank rate, ie the best you can get. Until you read the small print, and see that you may be charged:

- A percentage commission added on top.
- A fee charged by the foreign bank for using the ATM.
- A fee charged by your bank for using a foreign ATM.

With credit cards, you may also find you are charged:

- A fee simply for making a cash withdrawal on the CC account.
- Interest charged from the day of the withdrawal. (No interest free period).
- A punitive interest rate for cash which you will continue to pay until you have cleared the entire balance of the account (due to most CC providers' allocation of payments policies).

There are exceptions to the above if your account is with the right bank, but the banks that are good on foreign ATM use aren't always good on other points.

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