ATM FEES. ALL YOU NEED TO KNOW
ATM Bank Fees in Peru: What Travelers Need to Know
If you’re traveling to Peru, chances are you’ll need to withdraw cash at some point. While credit and debit cards are widely accepted in major cities, cash is still king in many markets, smaller shops, and rural areas. But before you head to the nearest ATM, it’s important to understand how bank fees work here—so you don’t end up paying more than you should.
Local ATM Fees
Peruvian banks typically charge a fee every time you withdraw cash with a foreign card. These fees vary depending on the bank, but they usually range between S/15 to S/25 (about $4 to $7 USD) per transaction. Some banks even limit how much you can withdraw per transaction, which means you might need to make multiple withdrawals—and pay the fee each time.
International Bank Fees
In addition to the local ATM fee, your home bank may also charge a foreign transaction fee or an ATM withdrawal fee. These can add up quickly. Some banks charge a flat rate per withdrawal, while others take a percentage of the amount withdrawn.
Exchange Rates
ATMs in Peru will often offer you the option to be charged in your home currency instead of Peruvian soles. While it might look convenient, this is known as dynamic currency conversion, and it usually gives you a worse exchange rate. Always choose to be charged in Peruvian soles to get the best rate.
Tips to Avoid High Fees
Choose the right bank: Some Peruvian banks are more traveler-friendly than others. For example, Banco de la Nación ATMs sometimes have lower fees, though availability is limited.
Use a no-foreign-fee card: If possible, bring a debit or credit card that waives international ATM and transaction fees.
Withdraw larger amounts: Instead of taking out small amounts multiple times, withdraw more in one go to reduce the number of fees you pay.
Check for partnerships: Some banks have agreements with Peruvian banks that allow you to use ATMs with no extra fees. It’s worth checking with your home bank before you travel.
Always choose soles: As mentioned, avoid the “charge in your home currency” option to save on exchange rates.
Final Thoughts
ATM fees in Peru can add up quickly if you’re not prepared, but with a little planning, you can keep costs under control. Make sure to budget for cash withdrawals, choose your bank wisely, and always keep some soles on hand for those local markets and hidden gems that make Peru so special.
Which ATMs in Peru Charge the Least or Nothing for Foreign Cards?
Banco de la Nación (MultiRed)
Fee: 0 per withdrawal — consistently reported as the only fee‑free option for foreign cards .
Limit: Typically 400‑700 soles per transaction, often capped at 400 for Visa and Mastercard international cards, with between one and two transactions allowed per day .
Notes: Machines are basic yet reliable and widely available in major cities like Lima and Cusco.
Banco de Crédito del Perú (BCP)
Fee: Reported to be fee‑free for a period, especially for cards like Revolut or Monzo. However, later reports in 2023 and 2024 indicate fees around 35–36 per withdrawal for many foreign cards .
Limit: Usually around 700 soles per transaction .
Interbank
Fee: Varies in traveler reports from 14–25 per withdrawal. On some cards, Interbank fees have been reported around 19–25 .
Limit: Approximately 700 soles per transaction .
Scotiabank Peru
Fee: Standard charges around 20–25. However, if your card is issued by a Global ATM Alliance member bank (e.g. Bank of America, Scotiabank Canada, Westpac NZ/Australia), you can withdraw fee‑free at Scotiabank Peru ATMs .
Limit: Usually 400 per transaction, possibly requiring multiple withdrawals for larger sums .
Other Banks (BanBif, Caja Arequipa, regional banks)
Fee: Some regional options like BanBif ATMs inside malls reportedly charge around 18–19 per withdrawal, but may allow higher limits ( 700) and offer reliability . Caja Arequipa has occasionally been mentioned as a fee‑free exception but coverage is limited.
Practical Tips to Minimize ATM Fees in Peru
1. Seek out Banco de la Nación (MultiRed) ATMs whenever possible—these are nearly always fee‑free for international cards.
2. Plan withdrawals carefully: 400 limits mean you may need multiple transactions; focus on larger withdrawals to reduce per‑sol penalty from home‑bank fees.
3. Check for Global ATM Alliance membership: If your card is issued by Bank of America, Westpac, or Scotiabank Canada, use Scotiabank Peru ATMs for zero fee.
4. Always choose to be charged in soles, not your home currency. Decline dynamic currency conversion (DCC), which often applies a worse exchange rate (sometimes over 10–18%) .
5. Use cards that waive international ATM or foreign transaction fees, such as Schwab, Wise, or Revolut—especially if your home bank reimburses ATM charges. Some travelers reported being fully reimbursed by Schwab while avoiding ATM markup altogether .
6. Avoid airport GlobalNet ATMs—these often impose higher fees (20‑25) and worse rates compared to bank‑branch ATMs .
7. ATM safety: Use machines inside bank branches when possible, avoid sketchy street ATMs, and remain aware of your surroundings .
Summary: Best Bank ATMs for Foreigners in Peru
First choice: Banco de la Nación (MultiRed) ATMs—reliable, fee‑free, though modest limits.
Second: Scotiabank Peru ATMs, if your home bank belongs to the Global ATM Alliance.
Third: Interbank or BanBif—manageable fees and higher withdrawal limits.
Avoid: ATMs in Lima airport (GlobalNet), or machines offering dynamic conversion or poor exchange rates.
By choosing wisely and planning your withdrawals, you can avoid unnecessary local ATM fees and get better exchange rates, saving both soles and dollars on your Peru travel budget!
