USD cash withdrawal from GWK Travelex ATM at Schiphol airport in NL

Travelling
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I read here that at Schiphol airport in The Netherlands it is possible to withdraw USD and GBP from an GWK Travelex ATM using a Visa or Master card.
Does anyone have experience with that?
Are there any additional fees if I use my Revolut Visa card to withdraw USD from my Revolut account?
Is the exchange rate exactly as specified on this page or different ?

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Hello @tony12624120 :wave: ,

Thanks for reaching out to us. :heart:

Sadly, there is not a full list of ATM we can provide but there is an ATM search in the HUB inside the app where you can see the next ATMs of your location. :atm:

Check this FAQ link to know the details about travelling with Revolut. To know the charges for currency exchange, don’t forget to check this link . :smiley:

Have a safe journey. :luggage:

SG | Community Team

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Thank you for your reply.
My question is however not where to find an ATM of GWK Travelex or what is the Revolut EUR/USD exchange rate (as GWK uses its own USD/GBP exchange rates). So my questions are once more:

  1. Does GWK Travelex charges any fees when withdrawing a cash at their ATM’s?
  2. Is the EUR/USD exchange rate indeed 0.97 as they indicate on their website or is it different?
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Those are questions to be addressed to GWK surely?
As for the rate, I’m sure that it will move with the market…

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@tony12624120
Since the currency in the Netherlands is the Euro, I am assuming that you are not a tourist, but instead you are a resident here going on a trip

GWK basically holds the almost-monopoly of money-changing in this country and for obvious reasons, they practice ludicrous exchange rates. Let me just illustrate this with a case where me and a friend were travelling together and needed USD cash (I live in NL and he lives in Dublin) - this friend was flying to AMS and we were catching the same flight to our final destination. I asked my friend to get me some USD cash at the Irish post office, because the EUR → USD rates were so much better there.

Luckily, in Amsterdam on the famous street called DAMRAK there are three independent money changers that will still give you a much better rate if you buy USD with them - if I were you, I’d get my Dollars there instead.

I do not know the answer to your question, but I assume GWK will not withdraw dollars from your dollar balance. Instead, and because they are a Dutch company, they with take the USD amount, convert to a EUR amount using their horrible exchange rate and throw fees on top. If you want to be sure, ask their customer service. But after living so many years in the Netherlands, I would refuse to do any business with GWK. They are crooks. Hope this helps.

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@alexfrmrio
Thank you for your reply and for the hints.
The currency exchange points in Damrak are a very nice option which I will definitely use.

I was recently flying to Gambia from Schiphol so I tested the GWK ATM myself.
The results confirms your information: GWK ATM is not worthy to be used.

  • At my travel date the exchange rate of EUR/USD on the Internet was 1.078
  • The exchange rate on the GWK website was 0.97.
  • However, at GWK ATM at the airport the exchange rate was 0.8826 !!!
  • Additionally there was a 3.49 euro provision fee.
  • Eventually for 50 USD I would had to pay 60.14 EUR, what, of course, I didn’t do.

In Gambia I first tried to get the ATM transaction fee information at different local banks.
I did it by trying to pickup some money while having an empty Revolut account.
Then I checked in my Revolut app the (unsuccessful) transaction details, where I could see how much transaction fee the ATM was trying to charge me.

The winner was the Access Bank with 150 GMD and the maximum transaction amount of 8.000 GMD, so:

  1. Access Bank: 150 GMD
  2. Standard Chartered Bank: 200 GMD
  3. Ecobank: 200 GMD
  4. Trust Bank: 200 GMD
  5. GTBank (GTCO): 250 GMD

With the EUR/GMD exchange rate at our hotel of 1 EUR = 65 GMD it was still a better option to use Revolut Visa debit card with the 150 GMD ATM fee than bringing EUR from Europe and exchanging it locally, at least for the max. ATM amount of 8.000 GMD.

So my lesson is: avoid GWK and exchange at Damrak or use Revolut Visa card.

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Thank you so much for sharing your experience with us @tony12624120. :hugs: This will surely help our other users. :r:

SG | Community Team