I am in the US and trying to withdraw cash from my Thomascook study buddy forex card. The ATM prompted that it will charge me a $7.25 fee. Why am I seeing this fee, and how can I withdraw my funds without paying extra charges?
You are seeing this fee because the ATM owner charges a surcharge for using their machine. To find out if you can withdraw your funds without paying extra charges, you must check your cardholder agreement to see if there are restrictions on how you can use it.
You have the power to decline these unexpected costs. The ATM must always notify you on the screen and ask your permission before charging a surcharge, so you can cancel the transaction while you check your agreement for fee-free options.
When you use an ATM owned and operated by a different financial institution, you will most likely be charged a fee. This extra cost is a surcharge added by the ATM for using the machine. The ATM will notify you of this fee on the screen and ask your permission to proceed, which is why you saw the $7.25 prompt.
Because you are using a foreign-issued prepaid card, your specific options depend entirely on your card's terms. You must check your cardholder agreement to see if there are any restrictions on how you can use it.
