Withdrawing cash abroad can be expensive

A particularly topical question during the summer travel season is how much it costs to withdraw cash from a foreign ATM. According to a recent summary by BiztosDöntés.hu, the fees vary significantly by bank and service provider – an average 90,000-forint transaction can cost up to 4,000-6,000 forints. The good news: with the right card and conscious choice, this cost can be reduced to zero in many cases.

This is how much a single cash withdrawal can cost, depending on the bank

Domestic banks typically apply two types of fees for foreign cash withdrawals: a fixed amount (usually in euros or forints) and a percentage fee on the amount withdrawn. The following examples clearly show the differences:

CIB Bank: 5207 HUF

Erste Bank: 2052 HUF + 3.72%

Gránit Bank: 200 HUF + 1.05%

K&H Bank: 2563 HUF + 2.71%

MBH Bank: 941 HUF + 2.24%

OTP Bank: 3012 HUF + 2.12%

Raiffeisen Bank: 16.95 EUR or 1.5%, but minimum 20 EUR

UniCredit Bank: 7.2 EUR + 3.149%

A simple withdrawal of 90 thousand HUF can therefore creep up to over 6000 HUF if we do not pay attention to the details.