Money in Slovakia: Banks, ATMs, cards & currency exchange
One of the most charming things about Slovakia is that itâs still so under the radar. This small, Central European nation has charming towns, well-preserved...
Slovakia is a mountain paradise in the heart of Central Europe. Thousands of tourists visit every year, to see the everything from the majestic peaks of the High Tatras to the charming medieval streets of Bratislava's Old Town, this picturesque country is a hidden gem waiting to be discovered. With awe-inspiring landscapes, charming castles, warm-hearted locals, and a tapestry of traditions, Slovakia offers an unforgettable experience for both visitors and those fortunate enough to call it home.
Whatever your reason for visiting Slovakia, you may need some cash. Using ATMs to withdraw local currency is a convenient choice for many travellers and expats. Slovakia has taken strides to become less reliant on cash and provide cashless options.
Why not use the Wise multi-currency account while abroad to convert your local currency to Euro at the mid-market rate so you can spend like a local while travelling.
Hereâs all you need to know about using ATMs in Slovakia.
Slovakia has a sophisticated banking system, meaning youâll not struggle with finding an ATM in populated areas. Look in or near bank branches, shopping centres and supermarkets. If youâre there to get out into the more rural areas, then you can expect fewer ATMs - take cash with you to tide you over.
Find the most convenient ATM - bankomat in Slovak - wherever in Slovakia you happen to be, using one of the following ATM locators from large national and regional banks:
All major card networks, including Discover and Amex, are accepted in Slovakia.
Donât forget, though, that not all bank cards can be used in all ATMs. Youâll need an ATM which is on the same network as your card. Find a handy ATM to suit your needs using one of the following locators:
Like most other European countries, bank cards issued in Slovakia tend to have chip and pin technology, with a 4 digit PIN code.
Magnetic stripe cards, often issued in the USA, can still usually be used in ATMs in Slovakia, but youâll need to get a PIN from your bank before you travel. Similarly, if you have a 6 digit PIN you might find it easier to have a new 4 digit PIN issued by your bank before you travel. However, chip and pin cards from elsewhere in Europe, the UK and Australia, for example, should be accepted with no problem.
This depends on your own home bank, and the specific ATM provider youâre using. If you have a daily maximum withdrawal limit set up at home, then this will be applied to withdrawals overseas, too. Sometimes this is a default amount selected by your own home bank, which you can change if you choose.
If you donât have a maximum set up, then the ATM provider's rules will apply instead. These vary pretty wildly, and can also be set based on the number of notes the ATM can issue at the time, rather than the specific maximum amount you can withdraw. If you canât get as much as you need from an ATM in one transaction, you might need to make multiple withdrawals - which will usually mean multiple fees, too.
If youâre travelling to Slovakia for the first time, it's worth telling your bank before you go. Thatâs because bank software quietly monitors customersâ transactions in case of fraud, and blocks or limits accounts with unusual spending patterns. If the fraud department thinks that thereâs something suspicious about a sudden spike in spending overseas, then you could find your card blocked, leaving you abruptly out of cash. Just call your bank in advance of travelling to let them know your plans, and avoid the hassle.
Relying on ATMs to get the euro cash you need for your trip to Slovakia is convenient but itâs unlikely to be free. Itâs pretty standard to charge even local customers for withdrawals made from ATMs. And on top of this, there are a few extra fees - youâll want to avoid if you use your foreign card in an ATM in Slovakia.
If youâre travelling, you need to understand dynamic currency conversion (DCC). Youâve probably come across DCC already - itâs where youâre asked if you want to pay in your home currency when youâre in a store or restaurant or using an ATM abroad.
Banks describe this as a âserviceâ, but DCC transactions are a poor value as they leave you exposed to hidden fees. The exchange rate used is often not the mid-market rate that youâd find if you googled it.
Instead, if you choose DCC, the exchange rate is set by the ATM provider, rather than your home bank, and they might offer a poor rate, to protect their profit. That means that you lose. Youâll get a better deal if you always choose to pay in the local currency instead.
Itâs common for banks to charge their customers for withdrawing cash overseas. This could be a flat fee or a percentage, so it can be fairly pricey. Check out the small print in your terms and conditions.
Itâs common for fees to apply for all ATM withdrawals in Slovakia. Unicredit Slovakia, for example, charges their customers EUR 0.30 for transactions through their own network in Slovakia, and up to EUR5 for transactions at ATMs abroad.š
If youâre using a foreign card, thereâs a high chance there will be a fee to pay the local bank or ATM provider as well as anything added by your home bank. Choose an ATM with an English option, so you can understand the fees as theyâre posted on the screen.
The best bet, if you want to get free or cheap withdrawals in Slovakia, is to choose an ATM attached to your own home bank, or a partner institution working with your bank. If this isnât an option then the chances are, you wonât find completely free ATM withdrawals in Slovakia.
You can use the Wise Multi-Currency account to hold you euro balance and the Wise Card to use atms. Wise will not charge you for these withdrawals, but some additional charges may occur from independent ATM networks.
Spend like a local with Wise âđź
Staying in Slovakia long term? You may want to open a bank account in Slovakia
Even if you canât eliminate them, you can reduce ATM fees in Slovakia with a few simple tricks.
As mentioned above, itâs worth asking your home bank ahead of time, if they have any local partner institution in Slovakia. Banks often operate these networks to give their customers some perks - like cheap ATM withdrawals - while theyâre overseas. If your bank works with a local Slovakian institution, you could get free or reduced-fee ATM use while youâre there, if you stick to ATMs run by the partner bank. Here is also a list of the European countries that charge the highest ATM fees.
If, like many people, you have several different local bank accounts, itâs well worth checking the small print and choosing the one which offers the best deal on foreign ATM withdrawals. The terms applied by different banks can be very different, and some are a far better value than others.
Foreign currency cash advances using a credit card, however, are usually an expensive choice due to the interest charge which is often immediately applied and should be avoided if at all possible.
Independent ATMs in tourist locations, pubs, nightclubs and other places with a captive audience, often donât offer great value. Theyâll apply a high fee, and are usually not hugely secure, either. Stick to ATMs attached to banks, in supermarkets or shopping centres if you can.
Dynamic currency conversion - discussed above - is one of the most common pitfalls for travellers. Pay in local currency or you could be hit with DCCâs high fees and poor exchange rates.
For many expats and travellers, Wise is a convenient and cheap alternative to get local cash when they need it. Wise offers fairly priced, and transparent transfers, with the mid-market exchange rate applied every time.
A multi-currency account and Wise Card from Wise is a great choice for travellers, and expats living abroad. You can hold your cash in any one of dozens of different currencies, including euros, and thereâs no monthly account fee to pay. Set up your debit card for the account, and pay with your euro balance in shops and restaurants, avoiding ATM fees, and rip-off exchange rates, entirely.²
Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.
Open a Wise Account Today đ
To get the most out of travel, you need to control and eliminate unnecessary costs. Using ATMs can be a good way to do that, and get your euro cash without being hit by unfair fees. Alternatively, use Wise, to send money to a local account, or spend using your multi-currency account card, and avoid ATMs altogether.
Wise will not charge you for these withdrawals, but some additional charges may occur from independent ATM networks.
Sources:
Last checked: 11.05.2023
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
One of the most charming things about Slovakia is that itâs still so under the radar. This small, Central European nation has charming towns, well-preserved...