The Most Expensive Countries To Withdraw Cash In Europe

Hands holding Euros

Check the charges before withdrawing cash. Credit: Wirestock/Pixabay

ICELAND, Turkey and Albania are the most expensive European countries to withdraw cash due to the high commissions they charge.

This is according to the technology company Wise, which has prepared a list of the cost of withdrawing cash in 15 European countries, from the most expensive to the cheapest.

Knowing where it’s cheapest to withdraw cash can make a big difference in your holiday budget. Iceland leads the list of countries where withdrawing cash can be more expensive, with commission that can reach 4.6 per cent.

Spain was midway in the table at 0.70 per cent, said Wise.

On trips abroad, it is common for many tourists to use cash to meet their expenses, either due to personal preference or because the particularities of the country require it. However, withdrawing cash at ATMs abroad can be expensive, due to the high fees they have to face that are not always presented in the clearest way.

If a tourist on holiday in Iceland took out €50 a day for seven days, they would pay more than €16 in commission. On the other hand, if they went to Ireland and withdrew the same amount of money, they would only pay €1.96.

Tips to avoid ATM charges

Some banks in Spain also add their own charge for using an ATM. Luckily, most ATMs have the option of carrying out the transaction in English, so you can check the charges before completing the transaction. If you’re unhappy about the charge that is made, simply cancel the withdrawal and find another ATM.

Primarily, experts recommend researching where and when to get the money. It may be cheaper to do it before you leave, but it is better to avoid exchange offices at airports, which usually apply very unfavourable exchange rates that mask a high cost for the consumer.

One of the main recommendations to the traveler is to check what commissions the provider of your card charges you.

Although most providers allow you to withdraw money abroad, it is often very expensive. To save money, it may be best to change money before travelling or carry a multi-currency card to withdraw money once you arrive at

If possible, it is convenient to compare once you arrive at the destination which is the place where it is cheaper to obtain cash.

your destination.

Some even offer free ATM withdrawals abroad up to a certain limit.

If there are several ATMs within walking distance of each other, it may be worth comparing their fees, as fees can vary from provider to provider.

Experts warn that you should try to avoid withdrawing money with a credit card, because the commissions are very high and they almost always carry interest.

In addition, if the option to ‘pay in € or £’ is offered when buying goods at a supermarket, always make sure to select the euro, which is more beneficial for the traveller.

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Written by

Jo Pugh

Jo Pugh is a journalist based in the Costa Blanca North. Originally from London, she has been involved in journalism and photography for 20 years. She has lived in Spain for 12 years, and is a dedicated and passionate writer.