Monday, December 27, 2010


If you have ATM card with the Cirrus and PLUS networks then you can use it overseas to withdraw money rather than bringing cash to exchange. I will recommend those who’re traveling frequently across various countries, then using the Cirrus and PLUS networks would be the best option as you no need to carry a lot of cash around.


They will definitely charge you the service fees whenever you withdraw. The fee is varied from each different bank but the great thing is it’s a flat rate. Let say if you withdraw cash using CIMB ATM card at Singapore then you will only be charge a flat rate of RM10 regardless of any amount. So, if the more you withdraw the less percentage of charges you have. Do you know why? Let’s see my calculation below:

Scenario 1: Mr.John withdraw RM1,000 at ATM overseas, the charges he need to pay is RM10. So, the percentage of charges is 1%.

Scenario 2: Mr. Sam withdraw RM5,000 at ATM overseas, and the charges he need to pay is same as Mr. John with just RM10 only. So, the percentage of charges is 0.2% only.

How Much Maximum Amount Can Withdraw At ATM Overseas?

You also need to know that the maximum amount that you can withdraw from the ATM overseas is depending on the country’s currencies. If you have set your bank’s daily withdrawal limit to RM5,000, then the maximum amount you can get is around SGD2,074.70. (Assume the exchange rate is 2.41).


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