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Anirban is traveling today, so I’m taking charge of writing this edition. Let’s get into the topic. : )

Most of us pull cash from ATMs without thinking much about it. You need cash, you find an ATM, you're done. But those quick withdrawals can cost you more than you realize, and a little strategy goes a long way.

This guide covers everything you need to know about withdrawing cash smartly: avoiding unnecessary fees, keeping your money secure, figuring out how much cash you actually need, and timing your withdrawals right.

Why the ATM strategy matters

Every time you use an out-of-network ATM, you're likely paying twice. The ATM owner charges you, and your bank charges you on top of that. Do this regularly and the fees add up without you noticing.

How ATM fees work

When you use your bank's ATM or one in their network, you usually pay nothing. Step outside that network and you get hit with fees from both sides. Some banks are worse than others about this.

The currency conversion trap

When traveling, ATMs often ask if you want them to convert currency for you. This is called Dynamic Currency Conversion, and it's almost always a bad deal. The rates they offer are terrible compared to what your bank will give you. Always decline this option and let your bank handle the conversion.

Security basics

Cash is anonymous, which makes it attractive to thieves. Unlike card fraud where you might get your money back, stolen cash is just gone. That's why location, timing, and awareness matter when you're withdrawing.

Managing fees

Most banks have apps that show you where their ATMs are located. Use them. Planning your withdrawals around in-network ATMs is the easiest way to avoid fees.

If you're already at the grocery store, get cash back when you check out. Zero fees, same result. Most stores let you do this for free up to a certain amount.

Some online banks reimburse ATM fees completely. Worth looking into if you travel a lot or don't live near your bank's ATMs. Even traditional banks sometimes have partnerships that expand their ATM network beyond just their own machines.

Withdrawal frequency matters too. Instead of pulling out $20 every couple days, withdraw more at once. Maybe $80 or $100 once a week. Fewer trips means fewer chances to get hit with fees. Just make sure you have a safe place to keep the cash.

Security practices

Location matters. ATMs inside banks or stores are safer than standalone machines in empty parking lots. Well-lit, busy places are your friend. If an ATM is in a weird spot or the area feels off, find another one.

Protect your PIN. Always cover the keypad when you type it in. Skimmers and tiny cameras are more common than you'd think. Before you stick your card in, give the card reader a wiggle. If something feels loose or looks like it doesn't belong, walk away.

Don't be obvious. Standing there counting a stack of bills makes you a target. Put the cash away quickly and count it somewhere else. If someone's hovering too close or the situation feels sketchy, trust your gut and leave.

Set up transaction alerts on your phone so you know immediately when money moves in your account. If your card gets skimmed, you'll catch it within minutes instead of finding out weeks later.

How much cash to keep

For daily spending, most people do fine with $20 to $40. That covers tips, parking, small purchases, and those occasional cash-only spots. Some people prefer carrying more, others less. Figure out what works for you.

If you use cash to budget, withdraw what you need for the week all at once. Physical cash makes spending real in a way that swiping a card doesn't. When the cash is gone, you stop spending. Simple but effective.

Emergency cash at home is smart. Keep $100 somewhere safe. Power outages happen, payment systems crash, and sometimes cards just don't work. Cash is backup that never needs WiFi.

For travel, start with some local currency and use ATMs after that. Airport currency exchange places will rip you off with terrible rates. If you're going overseas, bring a bit of cash to start, then find a bank ATM once you arrive.

Going completely cashless sounds convenient until your card gets declined or the payment system goes down. Digital is great, but having some cash backup just makes sense.

Timing and location

Weekdays during business hours are best. If something goes wrong (the machine eats your card, dispenses the wrong amount, or just freezes), the bank is actually open to help you fix it. Trying to resolve these issues on a Sunday night is miserable.

Late-night withdrawals from isolated ATMs are riskier. If you absolutely need cash at odd hours, drive-through ATMs are usually safer than walking up to one in an empty parking lot.

For travelers: Stick to ATMs at actual banks instead of random ones in tourist areas. Better security, better rates. Airport and hotel ATMs are almost always the worst deal. Walk a block or two if you can and find a regular bank ATM.

If you're going overseas, call your bank before you leave and let them know your travel dates. Otherwise they might freeze your card, thinking someone stole it, which is exactly what you don't need when you're far from home.

What banks don't always mention

Some banks limit how many free ATM transactions you get per month. Check your account terms. If you're hitting that limit regularly, it might be time to switch banks or adjust your withdrawal habits.

Also, some ATMs let you choose the denominations you want. If you need small bills for tips or splitting expenses, look for this option. Not all machines have it, but it's useful when they do.

Your debit card likely has daily withdrawal limits. Know what yours is, especially before traveling. Nothing worse than being somewhere unfamiliar and hitting your limit when you need more cash.

Quick reference checklist

ATM withdrawals seem simple, but being strategic about them saves you money and hassle over time. Plan your withdrawals around in-network ATMs, stay aware of your surroundings, keep the right amount of cash on hand for your needs, and know your bank's policies.

Small changes in how you handle cash withdrawals add up. Avoiding a few fees here, staying secure there, and having cash when you actually need it makes your financial life smoother. Start with one or two strategies from this guide and build from there.

The Rentless way of travelling is about moving with purpose. It is about choosing each destination, experience, and connection with care instead of following a checklist. You stay long enough to notice and experience it all. Travel becomes less about collecting places and more about understanding them. Rest, presence, and reflection are part of the journey. With Rentless, travelling is a deliberate act that helps you see the world and yourself more clearly.

Thanks for reading. See you on Tuesday!

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