January 30, 2015

ATM Fees While Traveling

Doing some late evening research on the best way for us to set up our bank accounts knowing that we’re endeavoring to eventually buy a sailboat and sail around the world.

Came across a neat blog, with a fairly recent post about just the topic I was interested in.  Thanks, google.

http://www.nomadicmatt.com/travel-blogs/avoid-paying-bank-fees-traveling/

Here’s an excerpt, click through to read the entire article:

ATM fees can really add up. Let’s think about it. While you’re on the road, you will probably withdraw money from an ATM twice a week. Fees vary around the world, but on average you end up paying $5 USD per withdrawal. That is $10 per week, $40 per month, or $520 per year. Even if you only use the ATM half the time, that’s still $260 USD per year. Most travelers I know go to the ATM even more than twice a week, which only increases the amount in fees they pay. Why give banks money you need for travel? You did a lot of work saving your money, don’t waste it by giving it to a bank. Here are four ways to eliminate fees: