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30 July 2018

Withdrawing money or paying abroad? This is how much it costs.

Nowadays, it is as easy to pay in store and withdraw money from an ATM abroad, as it is paying in Belgium. But it is important to understand that in certain situations, these actions can include extra fees. We’ll explain what you need to take into account. And which choice is the best to make.

1. Withdrawing money, within the Euro zone

You can have a peace of mind when it comes to withdrawing money from an ATM with your debit card within the Euro zone: no extra fees will be charged. Are you withdrawing money with your credit card, then it’ll cost you. At ING, we charge a fixed fee of 4.96 euro per withdrawal, plus 1 per cent of the withdrawn amount.

For example

You’d like to withdraw 100 euros in Rome. This won't cost you anything extra with your debit card. Are you collecting from your credit card, than a fee of 5,96 euros will apply (4,96 euros fixed costs + 1% of 100 euros).

Conclusion: within the Euro zone it is much more advantageous to collect money with your debit card.


Supplementary costs can also be charged in the Eurozone by the bank of which you have used the ATM machine. This amount will be clearly communicated before you withdraw money, and you can always cancel your operation before the costs are charged.

2. Paying in store, within the Euro zone

Would you like to take out your card in the hotel, during a shopping trip or after a delicious meal? It’s very simple within Euro countries: no extra fees apply for both debit and credit card.

Conclusion: the choice is yours! Although we recommend to pay with your debit card, if you have enough funds available. You’ll avoid coming home to an unpleasant bill!

3. Withdrawing money, outside the Euro zone

Whether you pay with your debit or credit card, extra fees apply.

Three different fees apply per cash withdrawal with your debit card:

  • a fixed fee of 1,82 euro (VAT included), plus 0,25 percent of the withdrawn amount.
  • a treatment fee of 2,42 euro applies.
  • a compensation of 1,90 percent of the withdrawn amount, the currency exchange.

With your credit card you pay:

  • First of all the same withdrawal fee as within the Euro zone: 4,96 euro per withdrawal plus 1 per cent of the withdrawn amount.
  • Added to that, an exchange rate compensation of 1,60 percent of the withdrawn amount will be charged.
For example

You take out 100 euro in cash in San Francisco. If you do this with your debit card, you’ll pay 6,39 euro extra (1,82 euro + 0,25% of 100 euro + 2,42 euro + 1,90% of 100 euro). It’ll be slightly more if you withdraw with your credit card: 7,56 euro extra (4,96 euros + 1% of 100 euro + 1,60% of 100 euro).

Conclusion: Even outside the Euro zone it is advisable to withdraw cash from your debit card. The extra costs are lower than when you take out money from an ATM with your credit card.

Traveling outside geographical Europe?

Remember to open your debit card temporarily for use at our holiday destination, for both cash withdrawal as paying in stores. You can do this yourself, super easy, via Home’Bank, our help desk or by stopping by at one of our local ING offices. Check if your credit card is activated for your holiday destination as well while you’re at it.

4. Paying in store, outside the Euro zone

Even when you go a bit further for business or holiday, you’d like the comfort of paying by card. This is possible, provided a small transaction fee.

With your debit card, the following fees apply:

  • A fixed transaction fee of 0,61 euro
  • And a cost of 1,90% of the amount, the currency exchange.

With your credit card you’ll only need to keep in mind the currency exchange of 1,60% of the amount.

For example:

You’d like to pay your diner of 100 euro in Hong Kong. With your debit card, you’ll have to include 2,51 euros (0,61 euro + 1,90% of 100 euro). With your credit card, the extra fees are lower: only 1,60 euro (1,60% of 100 euro).

Conclusion: Would you like to pay with your card outside the Euro zone? A credit card is the most advantageous, taking all extra fees into account.

How to keep the overview?