AK-SERVICE TIP

When does plastic money become an expense trap?

Sandra Battisti from the AK has valuable tips(Bild: Krone KREATIV/Stock Adobe, AK Stmk,)

Sandra Battisti, consumer protection expert at AK Steiermark, knows the hidden cost traps for payments with plastic money and gives valuable tips on what you should be aware of in order to avoid them.

When on vacation, expense traps lurk when paying and withdrawing with plastic money. In euro countries, it is best to pay with an ATM card. ATM companies can charge considerable extra fees of up to ten euros. You should pay attention to the information on the display and cancel the transaction if in doubt. There are no charges for credit card payments. Withdrawing cash with a credit card is always associated with costs. In Germany and the euro zone, you may be charged 3 to 3.3% of the amount, at least €2.50 to €4.

Always charges in non-euro countries

There are always charges for plastic money in non-euro countries. Exchange rates should also be taken into account. If you pay or withdraw money with an ATM card outside the euro zone, the charges vary depending on the bank.

If you pay in a store, you usually have to reckon with 0.75% plus €1.09 of the purchase amount, if you withdraw cash, with 0.75% plus €1.82.

For credit cards outside the euro zone, fees of between 1.65 and 2% may be incurred when paying, and 3 to 3.3% plus manipulation fees of 1 to 2% when withdrawing. It is therefore advisable to pay attention to charges when on vacation.

Otherwise, withdrawing smaller amounts of money could be unprofitable.