A Complete Guide to ATMs in Monaco

Monaco, a principality known for its luxury, upscale resorts, and vibrant financial activity, attracts thousands of tourists and business people every year. To serve the needs of residents and visitors, Monaco has developed an extensive network of ATMs conveniently located in popular and accessible areas. In this article, we will explore the features of ATMs in Monaco, their locations, withdrawal limits, and other useful aspects that you should consider when using these machines.

You can visit our directory page, where all ATMs in Monaco are listed, by following this link: ATM in Monaco

Total Number of ATMs in Monaco

Despite its compact size, Monaco has a fairly extensive network of ATMs that meet the needs of both locals and tourists. The principality is equipped with ATMs belonging to both local and international banks, allowing users with various bank cards to easily find a suitable machine.

The total number of ATMs in Monaco is around twenty, and they are located in key areas such as Monte Carlo, La Condamine, and Fontvieille. Thanks to this distribution, access to cash is possible almost anywhere in the city.

Major Banks Offering ATM Services

Monaco is home to ATMs from several major banks, including:

Minimum and Maximum Withdrawal Limits

When planning cash withdrawals, it’s important to consider the minimum and maximum limits set by different banks. Here is a table with approximate amounts that can be withdrawn at various ATMs in Monaco:

Fees and Using Foreign Cards

When using ATMs in Monaco, it’s essential to be aware of potential fees, especially if you’re using a card issued by a non-local bank. Fees can be significant, particularly for international cards. Here are the main points to consider:

When using ATMs in Monaco, it’s essential to be aware of potential fees, especially if you’re using a card issued by a non-local bank. Fees can be significant, particularly for international cards. Here are the main points to consider:

• Banks with High Fees: Some international banks are known for charging high fees for overseas withdrawals. For example:
  • Bank of America: Typically charges a fixed fee of around $5 per transaction, plus additional currency conversion fees.
  • Wells Fargo: Charges a similar withdrawal fee and may add currency conversion percentages.
  • Chase Bank: International withdrawal fees can range from 3% to 5%, plus a fixed fee.
  • HSBC (some accounts): While HSBC has a global network, certain account types may incur significant fees for withdrawals outside the home country.
• Avoid Using Cards from Banks with High Fees: If you know that your bank charges high fees for international transactions, consider using a different card or withdrawing larger amounts at once to minimize frequent fees.
• Using Low-Fee Cards: Some banks offer cards with minimal or no fees for international transactions. These may include cards offered by Charles Schwab and Capital One, which are known for their low or no-fee policies for overseas cash withdrawals.

Exchange Rates and How to Avoid Fees

Another important aspect when withdrawing cash abroad is the exchange rate, which can significantly impact the final amount debited from your account. Here are some tips:

• Avoid ATM Currency Conversion: Many ATMs will offer to convert your currency before the transaction. Usually, the rate offered by the ATM is less favorable than the rate your bank provides. It’s better to choose the option to withdraw in the local currency (EUR) and let your bank handle the conversion at its rate, which is typically more favorable.
• Check the Exchange Rate: Before your trip, find out the exchange rate offered by your bank. This will help you better understand the actual costs when withdrawing cash.
• Use Specialized Cards: There are cards that offer better conditions for withdrawing cash abroad, including better currency exchange rates and minimal fees. For example, cards from Revolut or Wise can be good options.
• Where to Find Information: For up-to-date information on fees and currency exchange rates, use your bank’s mobile app or contact customer support before your trip.

Operating Hours and Service Features

Most ATMs in Monaco operate 24/7, allowing you to withdraw cash at any convenient time. However, some ATMs located inside bank branches may only be accessible during the bank’s operating hours. Here is a table to help you navigate the operating hours of ATMs:

It’s recommended to check the operating hours of a specific ATM before visiting, especially if it is located in a restricted access area.

How to Avoid Fraud When Withdrawing Cash

To avoid fraud when withdrawing cash from ATMs, follow these recommendations:

1. Choose Safe ATMs:
   • Use ATMs located in secure and populated areas, such as shopping malls, banks, or hotels. Avoid ATMs in isolated or poorly lit locations.
   • When possible, use ATMs inside bank branches, especially after dark.
2. Inspect the ATM Before Use:
   • Check the ATM for any suspicious devices attached to the card reader. Fraudsters sometimes install skimmers—devices that steal card data.
   • Make sure the keyboard looks normal and does not have any overlays that could record your keystrokes.
   • Inspect the ATM for any unusual items, such as small cameras aimed at the keyboard.
3. Protect Your PIN:
   • Cover the keyboard with your hand or body when entering your PIN to prevent anyone from seeing it.
   • Use complex and unique PINs that are difficult to guess.
4. Stay Alert During the Transaction:
   • Be cautious of anyone who might try to distract you while you’re using the ATM.
   • Take your card and cash immediately after the transaction is complete, and avoid leaving your receipt or any other documentation in the ATM.
5. Use Modern Security Features:
   • Enable SMS alerts for transactions on your card so you can quickly receive information about any activity and respond promptly to suspicious transactions.
   • Use your bank’s mobile app to monitor transactions and instantly block your card if needed.
6. Beware of Phishing:
   • Never give out your card details, PIN, or any other sensitive information over the phone or email, even if the request appears to come from your bank.
7. Report Suspicious Activity:
   • If you notice anything unusual about the ATM or believe you may have been a victim of fraud, immediately report it to your bank and block your card.
   • If the situation feels threatening, do not hesitate to contact the police.

Using ATMs in Monaco is a straightforward and convenient way to manage your finances. With an extensive network of ATMs and their strategic locations, you can quickly and safely withdraw cash wherever you are in the principality. By following our tips and recommendations, you can avoid unnecessary costs and take full advantage of Monaco’s banking infrastructure. Whether you’re a resident or a visitor, this guide will help you navigate the ATM landscape in Monaco with confidence and ease.