ATMs can be used to get foreign currency while traveling and may save you money when compared to buying currency at exchange rate booths. Despite the advantages, you need to be prepared for special circumstances that can arise when using an international ATM. Here are a few tips to help you on your way:
Check the network: Check your card's network. Cards in the Cirrus and Maestro networks often feature ATMs with easy-to-read instructions in English. Bank of America belongs to the Global ATM Alliance.
Research the country: There are some countries where ATM transactions are blocked. Please research the country to verify whether you will be able to use your credit card.
Understand the types of fees charged: Fees may be incurred for using the ATM and there may also be fees for currency conversion and cash advance. It is usually better to make fewer larger transactions instead of multiple smaller ones.
Make sure your PIN is valid: Some ATMs only allow 4-digit PINs. If your current PIN is longer than 4 digits, you may need to get a new PIN before you start your trip.
Have a backup plan: Some ATMs limit your access to a primary checking account, so have an alternative means of making purchases such as using foreign currency, traveler's cheques or a debit card.
Additional tips: Remember that not all foreign ATMs offer instructions in English. If you are unable to use a foreign ATM, you may be able to use your credit card to make a cash advance at a local bank. Finally please note that some business card accounts may not have cash availability; check with your Authorized Contact or Program Administrator before you leave the country.