With your Wallbit global card, you can withdraw cash from ATMs that support contactless (NFC) technology in any country, as long as it is not one of the countries where the Wallbit global card cannot be used.
Below, we explain how to do it, what fees apply, and an essential trick to protect your money when withdrawing cash in foreign currencies.
What do you need to make a withdrawal?
Your Wallbit virtual card. Make sure you have enough funds in your account to cover the withdrawal amount and any applicable fees.
A digital wallet. Your card must already be linked to Apple Pay or Google Pay on your phone.
A compatible ATM (NFC). Look for an ATM with a contactless payment symbol. Not all ATMs support this technology.
Withdrawal fees and charges
When you withdraw cash, Wallbit applies the following fee structure:
Withdrawal fee. A 1% fee is charged on the withdrawal amount, with a minimum fee of $5 USD. For example, if you withdraw $100 USD, you will be charged a $5 fee (the minimum charge, since 1% would be $1). If you withdraw $1,000 USD, the fee will be $10.
Foreign currency fee. If you withdraw cash in a currency other than U.S. dollars (for example, euros), an additional 1% fee will apply.
Important: The ATM operator will very likely charge you an additional fee for using the machine, known as an ATM fee or surcharge. This fee is separate from Wallbit, and the ATM is required to display it on screen before you confirm the transaction.
How to avoid surprise charges: "Decline conversion"
If you are traveling abroad and withdraw cash in a currency other than U.S. dollars (for example, euros in Spain or pounds in England), it is very common for the ATM to ask whether you want it to handle the currency conversion.
When prompted, you should always select "Decline conversion."
Why is this so important?
If you accept the ATM's conversion, you are accepting its own exchange rate, which is often unfavorable and may include hidden profit margins of up to 15%.
By declining the conversion, the ATM will send the transaction directly to your card network in the original currency. The international card network (Visa, in this case, in U.S. dollars) will handle the currency conversion using the official interbank exchange rate for the day, giving you a fair exchange rate with little to no markup.
Withdrawal limits
In general, the withdrawal limit per transaction is $250 USD (or the equivalent in local currency). However, this limit may vary, as it is often determined by the policies of the ATM you use.
If you have any questions or need additional assistance, you can contact our support team through the app.