There was an ATM sign at a souvenir shop, so I entered to use it. Walked in circles looking for it… sometimes they are very well hidden. Staff asked me what I was looking for. “The ATM”. They said “that’s me… just tell me how much you want and tap your card on the terminal.

It’s an interesting option for shops because if the cash comes from the register then that keeps the register light, thus fewer bank deposits and lower security risk.

But how does it work? The staff were at a loss to answer questions. They warned: if you have visa, the fees will be 11%. Yikes! Extortionate. Very hard to believe that’s even legal in Europe. Staff said most people use maestro (of course, Netherlands), but really bizarre that visa customers would be charged a staggering 11% and maestro 0%. I asked if it’s really an ATM transaction because that makes a big difference if the card is a credit card. A credit card at ATMs is doing a cash advance which has a cash advance fee on top of the interest. But what is this 11%? ATMs never charge a high percentage like that. I wonder if there is some DCC¹ funny business. Or maybe it’s some wild speculation about what the card holder’s bank would charge.

There is such a thing as cash back that does not require a purchase. I think they use an ATM signposting because they think consumers are unaware of cash back. So it’s a dumbing down. Perhaps fair enough, but the staff was clueless. Whatever is going on in that shop, the owner just put up a sign without informing their own staff as to the nature of the beast.

I opted not to use it because I had no certainty what the fees would be. No way of knowing whether my bank would charge a cash advance fee or whether I’d get hit with an 11% money-grab.

¹dynamic currency conversion (which by law must be the consumer’s choice)