Find solution
How To Withdraw Money From Virtapay?

If I withdraw money from within a foreign bank instead of using ATM's can I avoid or reduce withdrawal fees?

  • I am from the U.S. but I am currently studying abroad in Denmark and everytime I go to withdraw money from the ATM it charges me $20 for the transaction. Furthermore, it won't let me take out more that $200 at a time which is really frustrating. I know I will have to pay a conversion fee no matter what but is it possible for me to just go into the bank and withdraw money in person and avoid such a large withdrawal fee? Even if they do charge me the fee would I be able to withdraw more money at one time and thus save money on withdrawal fees? Any other ideas about how to avoid bank fees abroad? Thanks.

  • Answer:

    I see two things that can be causing the fee and the 200 USD limit; 1, The fee is charged by your bank back home in the US for sending the money to the Danish bank so you can widraw it. 2, The Danish ATM operator is charging you for using a foreign card. If any of those two possibilities is correct my solution would be that you should open an account in a Danish bank and transfer your money to your new account and get a card for same account, that way there will be no international transfers or use of foreign cards when you need some money and it should all be sorted out.

Noneoff Yourconcern at Yahoo! Answers Visit the source

Was this solution helpful to you?

Other answers

The only way to avoid these insanely large fees, are to get an account in a Danish bank. No matter what country you are from - if your card is used in another country, the fee is always very high, when you use your card in another country. I have lived abroad a few times because of work, and i have had an account in these countries. When you are a student, and you can prove that to the bank, it should be no problem for you, to get an account. It will save you a lot of money and worries.

Vibeke J

You cannot totally avoid bank fees as 1) the card issuer charges for you using the card to get cash (instead of buying goods and pay with the card) in accordance with the agreement you signed to get the credit card and 2) the bank paying you the cash, charges for their costs of keeping/administering cash. I'm not sure how it works in Denmark, but what I've sometimes done while traveling in Asia is to go into a bank and go to the forex counter. There, I can get cash against my Visa / Mastercard at a lower fee than when using the ATM. Note that the cash withdrawal limit is set by the bank that issued the card, not by the bank where you withdraw.

M. V. Agrippa

Related Q & A:

Just Added Q & A:

Find solution

For every problem there is a solution! Proved by Solucija.

  • Got an issue and looking for advice?

  • Ask Solucija to search every corner of the Web for help.

  • Get workable solutions and helpful tips in a moment.

Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.