For many of us, the prospect of a holiday is one of the few things keeping us going.

So, while you're still at home and searching for travel destinations, we recommend brushing up on travel tips and money-saving strategies.

Although withdrawing money from an ATM doesn't require much consideration, a recent incident in Morocco serves as a reminder that it could cost you more than you expect.

A traveller currently residing in Sweden took to Facebook to seek answers after being shocked by a financial discrepancy.

A woman was shocked after being charged $48 to take money out from an airport ATM whilst on holiday abroad. Credit: Shutterstock.

‘It doesn’t make sense. I took out 5000dr, which is about $500 ($737 AUD) but got charged $548 ($808 AUD). What happened? And how do I avoid this again?’ she inquired, referring to an ATM receipt that displayed a 4.5 per cent conversion markup.

To put it into perspective, the exchange rate for the Moroccan currency, Dirham, is approximately $1 for 9.72 dirhams. Consequently, $50 ($74 AUD) would be equivalent to around 486 dirhams.

This means the woman was charged an astonishing $48 ($71 AUD) more than she withdrew!

We understand the confusion and frustration experienced by the tourist. Such an exorbitant charge undoubtedly left even the seasoned travellers within the group bewildered.

One woman commented: 'The only other time I have had heard of a charge like that is at the currency exchange—that is outrageous for just a withdrawal.'

Unfortunately, the charge is far from unusual, with the woman receiving similar tales from other travellers.

'It happened to me in Italy. ATMs can charge what they want. It is totally insane,' one commented.

So, it's clear that this merciless fee isn't exclusive and can be encountered in various places. Members, the message is to be very careful when using an ATM abroad.

Other travellers in the same group were offering their advice on the post, their words serving as a warning to not only the woman but to other prospective tourists as well.

Many travellers recommended doing one's research ahead of time and warned not to even bother trying to withdraw cash at airports, advising to look for ATMs with no fees.

It's also highly recommended that you withdraw your money in the currency of choice and avoid using a credit card whenever possible, as this will add an additional layer on top of what could already be quite a hefty sum.

Key Takeaways

• A young woman has been charged $48 ($71 AUD) to withdraw money from an ATM at an airport in Morocco.
• She posted her ATM receipt on Facebook, seeking advice on how to avoid such high charges in the future.
• Many seasoned travellers shared their recommendations, including avoiding airport ATMs due to higher exchange rates.
• Others advised choosing to charge the currency you are withdrawing, not the converted amount, and to avoid withdrawing money on a credit card.

We want you to have the best experience when you travel and don't want fees like this to put a dampener on it.

Our advice to all of our members is to read up on the specific destination they’re travelling to, research how much it costs and ensure you’re well prepared with what to expect in terms of currency fees.

We know exploring a new country is thrilling, but it can still come with unseen risks. Be smart, be savvy—make sure you come back with enough money left in your pocket to do it all again the next time!

 

[Countryjohn]

Whenever I travel I have a look for fee free ATM’s which can be hard to find. A simple and cheap way to get money is to use one of the many money apps available. I use a mix of western Union and Remitly. Send it to yourself or a friend if you are traveling with someone. Just make sure every name and address is the exact same as you will use to collect it. Costs between 3 and 5 dollars each time. Exchange rates are much better as well.