Bankers Are Ripping You Off: Using Credit Cards Abroad Costs Way More Than You Think!
Vacation season is in full swing, and you probably don’t think twice about how much paying with your card abroad actually costs you. Brace yourself for a shock! When you withdraw money from your dinar account abroad, banks rip you off on the exchange rate – you lose at least 2 dinars per euro more than you should. And that’s just the beginning.
Fees That Kill Your Wallet
Every card transaction abroad comes with a fee of 2 to 3%. That means if you spend 1000 euros, banks take an extra 20 to 30 euros from you. And if you use a credit card, get ready for even bigger costs – up to 3% fee on every transaction! Withdrawing cash from a credit card? That’s like throwing money out the window.
Banks Are Playing You
Some foreign banks, especially those not in the same group as your home bank, charge extra fees for ATM withdrawals. In Greece and Turkey, where card payments aren’t popular, the advice is to carry cash because using cards there is just burning money.
When you withdraw euros from an ATM, expect a fee of 2 euros plus 2% of the amount. That means withdrawing 100 euros costs you about 4 euros in fees alone! And that’s not all – banks often charge hidden fees you don’t see right away.
How to Save Yourself?
Financial analyst Dušan Uzelac advises making a financial plan before your trip and setting a budget. If you must use a card, choose those linked to a foreign currency account in euros, as they are cheaper. Never let a merchant swipe your card through a POS terminal without you watching – always monitor the transaction and keep the receipt.
Also, activate SMS notifications for transactions and immediately report to your bank if your card is lost or stolen. This can save your money from further misuse.
Banks Are Cheating You, and You’re Silent!
This is classic bank behavior to make money off your carelessness. The cost of paying with cards abroad can be so high it almost equals the price of your entire vacation! Is that fair? Of course not, but until you get smarter, banks will keep ripping you off.
Conclusion
Next time you travel, remember your money isn’t safe even on your card. Plan ahead, carry cash for destinations where cards aren’t popular, and watch out for hidden fees. Don’t let banks exploit you while you enjoy your holiday.
So, have you ever had a bad experience with cards abroad? Or maybe you know a trick to avoid these fees? Share in the comments so we can all laugh or rage about these banking games!
Why This Matters?
- Every card transaction abroad can cost you an extra 2-3%.
- Credit cards are even more expensive, with fees up to 3%.
- ATM cash withdrawals abroad can have a fixed fee of 2 euros plus 2% of the amount.
- Banks often charge hidden fees and use unfavorable exchange rates.
- In Greece and Turkey, it’s better to carry cash as cards aren’t popular.
Be smart, don’t let banks rip you off on your vacation!
