May 25, 2010
As soccer fans prepare to descend on South Africa in June for the World Cup, they should also be prepared for high ATM fees.
According to Uswitch.com, only 5000 SA Rand (about $645) can be taken in and out of South Africa in cash. Santander says credit cards typically incur a foreign exchange fee of 2.75 percent and a cash handling charge of approximately 1.5 percent.
Nici Audhlam-Gardiner, Director of Banking at Santander, said, "People should be aware that they can save themselves a lot of money if they have a debit card that allows free ATM access and no charges on debit card transactions worldwide."