Withdrawing cash: 5 tips to avoid unnecessary charges

Contents:

• How much does a cash withdrawal really cost?

• Tip 1: First, check whether you actually need cash

• Tip 2: Check your card’s fees

• Tip 3: Be aware of fees charged by the ATM operator

• Tip 4: Avoid making too many small cash withdrawals

• Tip 5: Choose the local currency when abroad

• Alternative: Order cash before you travel

• Conclusion: Avoid unnecessary costs with a bit of planning

How much does a cash withdrawal really cost?

At a cash machine, you select an amount – but the final amount on your card statement may be higher. This is because, depending on your card, the cash machine and the currency, several charges may be added together.

• Card issuer’s fee: A fee may apply to cash withdrawals, for example as a percentage of the withdrawal amount or as a minimum charge.
• ATM operator’s fee: Some operators also charge their own fee. In many countries, this fee is displayed on the ATM screen before you confirm the transaction.
• Currency conversion costs: If you withdraw cash in a foreign currency, the exchange rate also plays a role. If you are offered a settlement in Swiss francs, this may be more expensive than the conversion carried out by your card provider.

Good to know: The actual costs incurred depend on your card and the ATM you choose. A quick glance at the fees and the display on the ATM can therefore save you money.

Tip 1: First, check whether you actually need cash

Before you withdraw money from a cash machine, it’s worth asking yourself: do you actually need cash? In many everyday situations, you can now pay directly by card or smartphone, thereby avoiding an unnecessary cash withdrawal.

The Swiss National Bank’s survey on payment methods shows just how much payment behaviour has changed: according to the payment diary, the proportion of cash transactions recorded fell from 70 per cent in 2017 to 26 per cent in 2025.

In other European countries, too, cash now plays only a minor role in everyday life in some cases. In the Netherlands, just 17 per cent of payments at shop checkouts were made in cash in 2025. In Norway, the proportion of cash payments at physical retail outlets was as low as 3% in the spring of 2026. The figures are taken from recent surveys by De Nederlandsche Bank and Norges Bank.

However, it is not possible to go entirely without cash everywhere. For smaller shops, markets or situations where card payments are not widely accepted, it can therefore be a good idea to carry some cash with you.

Tip 2: Check your card’s fees

The cost of a cash withdrawal depends heavily on the card you use. Some providers charge a fixed amount, others a percentage of the withdrawal amount, or a combination of the two plus a minimum fee.

For Swiss Bankers’ Life, Life Digital, Travel and Prime prepaid cards, the withdrawal fee is currently 2 per cent of the amount. The minimum fee is 2.00 in Switzerland and 7.50 abroad, in the respective card currency (CHF, EUR or USD). As terms and conditions are subject to change, you can find the latest information in Swiss Bankers’ fees overview.

If you use a different card, it is particularly worth checking:

• How much is the withdrawal fee?
• Is there a minimum fee per withdrawal?
• Do the terms and conditions differ between Switzerland and abroad?
• How is a foreign-currency withdrawal converted, and are there any additional costs involved?

Tip: Before you travel, do a quick calculation to work out how much a typical cash withdrawal with your card would cost. This will help you better assess what withdrawal amounts make sense.

Tip 3: Be aware of fees charged by the cash machine operator

Not every fee is charged by your card provider. Some banks or independent ATM operators may also charge their own fee for cash withdrawals. Under the Swiss Bankers’ scheme, such fees charged by the ATM operator may be passed on to cardholders.

In many countries, such an additional fee is displayed on the ATM screen before you confirm the transaction. You should therefore read the information on the screen carefully and, if necessary, cancel the withdrawal if the additional costs seem too high.

Tip: In addition to the operator’s fee, your card’s transaction fee may also apply. This means that, particularly for small amounts, multiple fees can add up significantly.

Tip 4: Avoid making an unnecessary number of small cash withdrawals

Making several small withdrawals can cost more than a few larger ones – especially if your card charges a minimum fee per cash withdrawal.

A simplified example: suppose a card charges a minimum fee of CHF 5 per withdrawal. Three separate withdrawals of CHF 100 each would cost a total of CHF 15. If, on the other hand, you withdraw the CHF 300 in one go, the minimum fee is charged only once. If the ATM operator also charges its own fee, this may be added on top for each individual withdrawal. Once the percentage-based fee comes into play, making an even larger withdrawal offers no further benefit in proportional terms.

Tip: Try to estimate your cash requirements in advance wherever possible. This way, you can avoid making an unnecessarily large number of small withdrawals without carrying more cash than you need.

Tip 5: Choose the local currency when abroad

When using a cash machine abroad, you will often be asked whether the transaction should be settled in Swiss francs or in the local currency. Where possible, choose the local currency – for example, baht in Thailand or euros in Spain.

If you choose to be charged in Swiss francs, the ATM operator may carry out the conversion themselves. This so-called dynamic currency conversion (DCC) may involve a less favourable exchange rate or additional costs. You should therefore choose the local currency whenever possible when making payments or withdrawing cash abroad.

Tip: Before confirming the transaction, check not only the fees displayed but also the selected currency. 

Alternative: Order cash before you travel

It is not always possible to avoid withdrawing cash whilst travelling. However, if you know before you set off that you’ll need cash at your destination, you can organise some of it whilst still in Switzerland. This means you won’t have to withdraw money from an ATM straight after arrival and can avoid any operator fees or unfavourable exchange rates.

With Swiss Bankers, you can conveniently order foreign currencies and have them delivered directly to your home address in Switzerland. The exchange rate and fees will be shown to you before you complete your order.

Conclusion: Avoid unnecessary costs with a bit of planning

Cash remains practical in many situations – but withdrawing cash from an ATM can incur additional costs. If you know the fees charged by your own card, check the operator’s fees, avoid making an unnecessarily large number of small withdrawals and choose the local currency when abroad, you can significantly reduce these costs. This way, you can keep track of your cash withdrawals and avoid any unpleasant surprises.