How to withdraw money abroad without a fee.

Often when abroad, there is a need to withdraw cash. In Ukraine, it is easier to do this with a Ukrainian card, but abroad you can incur a fairly high fee. Therefore, the question of how to withdraw money without a card abroad or how to withdraw money from an ATM abroad is always very relevant.

In 2024, the situation in Ukraine remains difficult, and thus the question of how to withdraw money abroad without a card is even more relevant than before. Moreover, it may happen that you have to withdraw money often with and without a card, from an ATM or from a bank. 

How to withdraw money from a card abroad?

So, how to withdraw dollars abroad or any other currency: there are many ways to do this, but not all of them are cheap. However, there are ways to avoid additional costs. This is precisely what you need to pay attention to. After all, the commission can be incredibly high. 

However, first, it is necessary to consider why the commission can be so high when you need to withdraw money abroad. When withdrawing cash abroad, you can encounter two types of commissions:

1. The first commission is charged by the bank for its services (the bank that issued the card). A Ukrainian bank may charge a fixed amount or a percentage of the transaction.
2. Local banks (where the money is withdrawn abroad) may also charge a fee. This is usually displayed before confirming the transaction.

To avoid or minimize these costs, it is important to know the available methods. This can significantly save resources. 

So, to withdraw money without losing much on fees, it is necessary to withdraw funds 'correctly': 

1. It is better to choose a card with certain benefits right away, especially if these benefits extend abroad. Some Ukrainian banks offer cards adapted for international use. For example, monobank. Convenient cash withdrawals from ATMs worldwide under certain conditions. There are also benefits with the bank PrivatBank. Premium-class cards allow cash withdrawals without a fee.
2. Before going abroad, it is better to clarify the issue related to the commission. Before your trip, ask the bank about the conditions for withdrawing cash abroad.
3. Before the trip, it is also advisable to find out which banks abroad are 'more friendly' to the bank whose card you received. Many banks have partnership agreements with foreign financial institutions. Cash withdrawal from partner ATMs can be free or subject to minimal fees. For example, PrivatBank collaborates with banks in Europe, providing favorable conditions for its clients.
4. If a transaction is made, it is also important to choose the currency (for the transaction) correctly. When withdrawing money abroad, ATMs often offer conversion to hryvnia. It is better to refuse this and choose the currency of the country you are in. This helps avoid hidden conversion fees.

All these simple nuances can help save on fees. 

Which banks to choose to get a card? 

In Ukraine, there are many banks offering their conditions and their cards. Some are more suitable for Europe, while others are not so profitable. The choice is up to the client. 

One of the most popular banks in Ukraine to obtain such a card is monobank. What can be obtained from a card from this bank: 

1. Free cash withdrawals up to a certain limit per month at foreign ATMs.
2. Competitive exchange rates when converting.
3. Real-Time transaction notifications.

Another popular option in Ukraine is PrivatBank. It offers certain conditions: 

1. The GlobalMoney service allows you to top up cards abroad.
2. Favorable conditions for premium-class clients.

You can also consider Oschadbank. What conditions does it offer regarding cards: 

1. Possibility of cash withdrawal through international ATMs with minimal fees.
2. Transparent currency conversion.

Each of these banks can become a 'helper' for those who plan to travel abroad. 

How else can you get cash abroad?

Besides using a card, there are other ways to withdraw money abroad. What are the most popular alternative methods: 

1. You can use international payment systems. Services like Revolut, Wise, or Payoneer allow you to convert money at a favorable rate and withdraw cash with low fees. For example, to use Revolut, you first need to register. After that, you can order a card. It is funded in hryvnias, which can then be converted into the local currency. These funds can then be withdrawn at any ATM abroad. 
2. You can use electronic wallets. PayPal, Skrill, or Google Pay can be convenient for cashless payments. Some of them allow for cash withdrawals without fees if the card is linked to the wallet.

Each of these methods is also very simple and does not require a high fee. 

However, there are cases where fees are still charged, and that amount can be quite large. If a fee is unavoidable, try to minimize it:

1. Withdraw large amounts. Frequent small transactions increase costs.
2. Use cards with minimal fees.
3. Plan your trip. Check which banks operate without fees in your country of stay.

In general, these tips may also help. 

All the advantages of cashless payments abroad 

The simplest and most reliable option for payment in other countries has become cashless payments. It is simple and accessible. Quite often, withdrawing cash abroad can be replaced by card payments:

1. There is no need to pay with traditional money. The absence of a need to carry cash is the greatest advantage. 
2. Favorable conditions when using modern payment systems. Often, cashless payments do not incur any fees. 
3. Safety. In case of card loss, it is easy to block it.

Cashless payments can reduce the number of questions that need to be resolved when preparing for a trip abroad. 

In 2024, there are many ways for Ukrainians to withdraw money abroad without fees or with minimal costs. Use cards with favorable conditions, choose ATMs from partner networks, and keep an eye on bank offers. Alternatives can be electronic wallets or international transfer systems. Planning and a smart approach will help avoid unnecessary expenses and keep your finances safe.