Major downside when travelling to Aussie fave holiday hotspot
A destination that has exploded in popularity with Aussie travellers, due in part to the cheap experience on the ground, is the most expensive place to withdraw cash.
Data compiled by travel money company Wise looked at 9.7 million ATM withdrawals made by its customers between February and July 2025.
The analysis revealed Vietnam was the most expensive place to get cash out, with an average transaction costing 27.1 per cent. That's not including the exchange fees you had to pay first.
READ MORE: 'If a hotel does this it instantly gets marked down in my books - whether it's 5 stars or 2'
Getting cash out at international ATMs can be expensive, giving you less money than you hoped for. Getty Images/iStockphoto
In real terms, it means a traveller withdrawing the equivalent of $100 in Vietnam could see more than a quarter of that vanish in ATM fees alone.
Argentina was the second most expensive, with more than a fifth of the transaction being gobbled up by fees. Colombia was third for costly ATM withdrawals at 16.66 per cent.
READ MORE: 'Worth it': Luggage storage secret you might not have heard of
Research from hotel group ALL from November said 92 per cent of travellers still opted to carry cash in their destination's currency, mostly for food and drink or for spending at local markets.
READ MORE: Here's why pilots leave the cockpit door open during boarding
Vietnam has high ATM withdrawal fees. Getty
Tristan Dakin, country manager at Wise, said locations like Vietnam and Indonesia were becoming more popular for cost-effective getaways.
"While this can be a smart move, it's important to consider the intricacies of spending in each region, and avoid getting caught out by overly expensive ATM fees."
With the numbers of Aussie travellers heading to Vietnam spiking in 2025, can ATM fees be avoided, or is it just how it is?
How to get cash out more cost-effectively
Dakin said with some planning, travellers can avoid fees eating into their funds.
"Travellers should look for bank-operated ATMs that offer clearer fee disclosures."
Look for an ATM operated by a bank. Getty Images/iStockphoto
ATMs in banks are generally more secure and less likely to charge additional fees than standalone ATMs in tourist areas, he said.
If your card has a flat fee per withdrawal, "making fewer, larger withdrawals rather than many small ones will help you save on the fees.
"Be sure to select the local currency rather than AUD when withdrawing cash, to avoid higher mark-up rates,ˮ he said.
"Regardless of where people travel, one of the best ways to save is by avoiding cards with hidden fees. Many banks use inflated exchange rates to mask their charges, claiming to offer 'fee-free' foreign transactions, that in reality, are much more expensive than the true mid-market rate you would find on Google.ˮ
ATMs in highly touristic areas often charge premium fees, leveraging the convenience for travellers.
Select the local currency when withdrawing cash. Getty Images/iStockphoto
Top 10 most expensive places to withdraw cash in the world
- Vietnam 27.1 per cent
- Argentina 20.51 per cent
- Colombia 16.66 per cent
- Indonesia 10.91 per cent
- Sao Tome and Principe 8.31 per cent
- Nigeria 5.83 per cent
- South Korea 5.8 per cent
- Chile 5.55 per cent
- Turkey 5.08 per cent
- Angola 4.44 per cent
This story originally appeared on Stuff and has been reproduced here with permission.
