Euronet ATMs: An Expensive Price for Convenience?

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James Cave / Last Updated: August 4, 2022 / Posted in: Travel in Portugal

A few years ago, I used a Euronet ATM in Berlin. I withdrew €20 and, unbeknownst to me, was charged a €5 withdrawal fee for the privilege. The ATM never said that I was being charged a fee (otherwise I would have found another one) and so I used another one a few days later.

Thankfully, I was checking my bank account a few days later and I noticed the fees. In just a few days, I’d been charged €10 to withdraw €40. I also got a pretty terrible conversion rate. I haven’t used a Euronet ATM since.

Recently, I’ve noticed these ATMs popping up everywhere and so I’ve decided to write something about them. They’re all over Lisbon and Porto. They’re also in the Algarve and the Azores. They’re the most common ATM at Porto Airport (there are Santander ATMs, but they’re harder to find) and they were the only ATM at Ponta Delgada Airport on São Miguel. And, it’s not just in Portugal either: I’ve seen them all over Europe. 

Some people might see that as a small price to pay for convenience. After all, these ATMs are typically in prime locations. Personally, I’d rather forgo the convenience and find an ATM that doesn’t charge me instead. 

Euronet Fees: How much do these ATMs charge?

A lot. According to a SOL news report, you can expect to pay the following in Portugal:

  • €15 for withdrawing €200
  • €6.24 for withdrawing €50
  • €3.95 for withdrawing €20

Obviously, these fees can change at any time but, basically, you can expect it to be a lot more than you would expect. The worst bit is that most machines don’t tell you that you’re going to be charged a fee (some now seem to), so it catches you completely unaware.

Some banks will refund you if you are charged ATM fees abroad, but it’s unlikely they will refund you the poor exchange rate that you’ll also get. 

What Should You Do Instead?

If you *need to use an ATM, go to an ATM that’s actually attached to a bank if you can. There are two reasons for this:

  1. Portuguese banks aren’t allowed to charge ATM fees. Your own bank might charge you a fee or give you a crappy conversion rate, but the Portuguese ATM won’t.
  2. If your card gets sucked into the machine, you can go into the bank during opening hours and get it back.

Don’t underestimate the importance of point 2. If your card gets stuck in one of the ‘portable’ ATMs that you see at the supermarket or airport, it could take weeks to get it back. Firstly, someone has to come to the ATM and retrieve your card. Secondly, the ATM management company will often post your card to your bank rather than give it to you personally.

*An ATM may or may not be the best way for you to withdraw money while you’re in Portugal.

If your bank doesn’t charge you a fee (some banks charge a flat fee and some charge a percentage), it’s probably the best way of getting Euros. If your bank does charge you a fee, it may make more sense to buy Euros in advance. Note: do your research, and see who offers the best rate. Airport currency exchange services are usually best avoided.

Your credit card may also offer a good rate and, if that’s the case, it might make sense to pay for as many things as you can with a credit card. It may also make sense to book as many things as you can in advance. Hotels, car rental, and many tours & activities can all be booked in advance.


  1. Euronet are getting away with 'legal' theft on an incredible scale every day. Huge fees for using their machines and terrible exchange rates. Yes the fees are usually, but not always, displayed but that is no defence. As mentioned in one of the other posts banks in Portugal aren't allowed to charge a fee. So please tell absolutely everyone you can to avoid this immoral thieving company and to use a bank ATM instead.
    The Portuguese government should ban them, not only is Euronet ripping off tourists they are also providing the means for many of the shop keepers who have allowed these machines to be installed in their shop windows to avoid paying taxes, they tell their customers that they only accept Portuguese cards but that the customer can get cash from their Euronet ATM in their shop window. The shop keeper is making money three times, he gets paid rent for allowing a Euronet machine to be installed in his window, he gets a cut of the fee that Euronet charge the card holder AND be gets paid in cash which he can choose not to declare to the tax authorities (taxation is high in Portugal and this can be a substantial percentage). For all these reasons you can see why so many shop keeper have installed a Euronet ATM.
    I repeat never use Euronet ATM, instead search on your phone for 'Mulibanco near me' or 'bank near me' there will generally be one not to far away (Mulibanco is the name of the Portuguese banks ATM network). Don't go to any results that are labelled as only 'ATM' as they are most likely a Euronet ATM.

  2. We love Portugal but hate these Atm machinesrun by Euronet.... Twice now I have had to withdraw money and both timedthe machine does not mention anything or show commission rates or what they take from your account. Is this not illegal??? First time... 200 euros, commission 9 euros, second time 400 euros, 18 euros commission.can they withdraw and commission without saying anything.. Any info would be welcome. Best regards Jon and Jill Leighton

    • They're not just in Portugal (they're everywhere in Europe) and it's an American company rather than a Portuguese one. That said, I do think Portugal needs to put restrictions on these types of ATMs. Sometimes you can't find a free ATM anymore - only a paid-for ATM like those from Euronet.

  3. Similar experience as those above. Only Euronet atms at resort in Corfu - withdrew €200 with preloaded Chase card and was charged £194. Withdrew same a few days later at Alpha bank atm and was charged £170. Extortionate fees - stay away!

  4. It took 50€ on top of the withdrawal of 200€. using a normal debit card issued in the Netherlands. Scam, ripoff, ...

  5. I arrived at Krakow, Poland, Airport to find that every ATM is EURONET. They quoted £34.75 to withdraw 150zloty. I cancelled and later obtained my 150 from Santander bank in town for £28.41
    This company are absolute sharks and a total rip-off, and I cannot understand why large airports and hotels give them space to exploit people.

    • EuroNet also has HORRIBLE currency exchange rates.

      Was used to using Sparkasse in Berlin and the exchange rate was on par with what that days rate was. EuroNet on the other hand had exchange rates that were a few cents difference, a big deal when you're taking out €750+.

      Heading into Portugal we couldn't find any other ATM's except EuroNet.

      Paid dearly.

    • I just arrived at Madeira Airport today and needed euros to pay the taxi driver so I walk up to the first atm in front of me Euronet Atm machine so I put in my card and wanted to get out 500 euros for our stay the machine said I exceeded my limit so I tried once again and put 400 euros to withdraw I saw a few fees here and there and I saw an amount for 499.00 thinking that was the 400 euro exchange amount was new and just arrived so I pressed to receive 400 euros and then it asked me if I wanted a receipt and before I could even press the yes button the receipt message disappeared and I got no receipt and felt like crying my husbands calling me the taxi driver is waiting for us had the mist horrible flight with British Airways and then getting ripped off by an atm machine!!!! What a day!! They cheated me big time! The ripped off for almost 59 euros with no receipt what a warm welcoming gift! Never again I called my bank and without the receipt it would be difficult to track but they they will try to do what they can I called the airport and they told me that I should report it to the police we were exhausted and my husband was rushing to catch the taxi! It felt alike a lose lose situation don’t ever use Euronet big tipoffs and I am determined to get my husbands hardworking money and I think the authorities should an end to scheming tourist who to visit and spend their hardworking money and creates jobs for those who reside here! Clean up your act Euronet and stop with your ungodly ways!!!

  6. To all gullible ATM EuroNet users, stay away!

    I've been working in the banking and credit card industry but never experienced anything like this. Over redrawing a mere 9000 UAH ($337) at a EuroNet ATM, I've had to pay over $60 in fees and exchange rates which constitutes almost 18% of the sum. It sure looks like sheer robbery no matter what the friendly lady of the company says.

  7. This is ROBBERY !!!!!!!
    I don't understand how no one is reporting this people for robbing us like this !
    I just notice on my account that I been charged extra 20 euros one time and extra 40 euros other time when taking money from this horrible atm !!!!
    I travelled all world but never been charged so much as with this one.
    This is going to be reported to the newspapers I can assure you !!!

    • I had the same experience a week ago on two different ATMs. Terrible exchange rates, and unbelievable fees. I felt robbed and that this is a terrible reflection of the country. I travel to Portugal often, but WILL NOT use these again!

      • I always reject the shitty exchange rate the machine offers and select the other option to let my own bank do the conversion.
        I’m with Virgin Money - originally Clydesdale - and always score a good exchange rate without the commission and charges you get fleeced for if buying Euros at home.
        I’ve done this in Turkey, Switzerland, Spain and Portugal without any issues.
        I did avoid Euronet ATM just now - didn’t trust it!

    • I withdrew 360 euro from my card (in euro) and they took 3,95 euro commission without saying anything else on the ATM screen. When I checked online banking I found out they also took extra 50 euro from my account! Where to write to complain? This happened in Greece, Crete. I’ll warn all my friends on all social media to avoid this scam and will complain to my bank. They should be banned.

  8. Hello, it’s Laura from Euronet here. I thought I’d clarify some of the concerns you raise.

    Customers using our ATMs with a foreign currency card are offered a choice to accept or decline currency conversion. The rate offered (and any other applicable fees) are clearly displayed before the transaction and you can choose to decline or accept this rate before proceeding to the withdrawal. Indeed, you can also cancel the transaction at any stage.

    As you would expect, Operating ATMs costs money – for security, technology, rent and service. We believe our charges are fair and reasonable and they are clearly displayed prior to any transaction; our services and charges fully comply with relevant rules/ regulations in each country.

    Regarding your point about potentially losing your card; if this happens there is a customer service number to call on each ATM and any issue will be investigated following a robust process (often together with your bank). Many banks will issue a new card for you immediately. Having said that, we would like to inform you that almost all our ATMs in Portugal are now equipped with “DIP Card Readers”, a new component on the ATM that does not allow the card to be captured, thus eliminating such possibility altogether.

    We place our ATMs in direct response to demand from customers. We offer an important facility to consumers and local businesses as they benefit the most from access to cash.

    I hope this helps answer some of the concerns raise in this blog. Customers with any issues can of course contact us through our customer service channels.

    • Dear Laura,

      My card is in Euro and I withdrew the money in Euro so what conversion rate are you talking about? I could clearly see on the screen that the cost of the transaction was 3,95 euro to which I agreed. I found out later at home that I was charged 50 euro extra. Also, you say that your ATM operate according to the law. Why then I got no receipt and no paper proof of the transaction? How transparent is that? Do you believe in karma? Everything that Euronet is doing ripping of people, exploiting their trust in the banking system will come back and those who do it will pay for everything done, good and bad.

  9. A few comments based on my recent experience with ATMs in Portugal. I withdrew cash from ATMs outside a bank (Santander, BPI) four times. Each time I was first presented with the direct currency conversion option. You are shown the exchange rate and the amount you will be charged in your home currency. This can be declined and the conversion rate charged will be determined by your bank card. You will still get your cash. The DCC rate is typically 8-10% higher than the current rate. You could easily miss this if you're in a rush, tired, or otherwise distracted. If you withdraw cash using your credit card this is treated as a cash advance and interest is charged from day one on top of any exchange rate or other fees.

    • Thanks Jack,

      Yes, I should probably mention somewhere about using a credit card for a cash advance. I assume most people know that interest is charged on it, but maybe they don't as they wouldn't withdraw money this way at home.

      Get the book Moving to Portugal Made Simple on Amazon now

  10. Hello,

    I have a double complaint about Euronet ATM during the time I was in Romania 2 weeks ago.
    1. I tried to withdraw 1000 lei which is roughly 210 euros. They charged 243 euros for that! That's right, we speak about 15% commissions for exchange rate! The ATM just behind was charging 212 euros...
    2. When I tried to withdraw money, the ATM had an issue and I got a receipt "DISPENSER ERROR OCCURRED ATM COULD NOT DISPENSE MONEY YOU HAVE NOT BEEN CHARGED". Guess what? I was charged the 243 euros! It's now 10 days and the money didn't came back on my account!

    Conclusion, try your luck in any ATM which is not Euronet ATM.

    In case Euronet doubt about my feedback, the receipt indicate 09.09.2019 13:09 SEQ 2537 in location ENR00687. And I'm the CEO of so I'm not anonymous!


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