Scots tourist shares viral ATM trick to save money while withdrawing cash on holiday

dailyrecord.co.uk:

A Scots holidaymaker has warned people of a trick to save money while withdrawing cash from international ATMs on holiday. James, who posts as @jamesycottar TikTok, posted a clip titled “avoid foreign currency bank scam”.

In the video, he explains how bank machines will offer a lower conversion rate on currency than you should be getting, Glasgow Live reports. READ MORE: UK holidaymakers in Spain face £645 fine for going to toilet in sea in new beach rules READ MORE: EasyJet cancelling 10,000 summer flights could cause holiday chaos for 1.5m passengers He explained: “If you have ever used your bank card on holiday to take out cash, then there’s a fair chance, like me, you’re doing it wrong.“Someone much smarter than me - aka my girlfriend - told that any time you use your bank card to take money out abroad, the bank will offer you a conversion rate for that currency.“Never accept it because they are getting commission off this and it’s always going to be a higher rate.”James adds that people are then offered a mysterious ‘second rate’ when holidaymakers hit decline on the bank machine - but the bank will not tell you how much that is.He goes onto claim that the second option will be ‘guaranteed’ to be lower.“Do this and you will save money, and that’s a fact”, he said.The Scots tourist isn't the only one to share the trick with Money Saving Expert's Martin Lewis also telling people to keep their eyes peeled when using an ATM.Martin Lewis warned travellers that some cash machines will charge additional fees - even if you’re using a special overseas card - adding they can carry a 4.5% mark-up fee resulting in you being charged on top of the exchange rate plus a fee for using the machine.Martin explained: “Even the