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Sorry this is not an answer to your question, but here is my experience:

From what I understand, most banks form a cash machine union as "Banco 24 horas" and these ATMs tried to charge me for withdrawals, so I never completed a withdrawal with them.

However Bradesco ATMs, which are not part of this group, never charged me any ATM fees with any of my cards.

Their withdrawal process is a bit tricky though, it will at some point ask you if you accept the conversion rate, you should say "Cancel/Reject" and then it will let you continue without the dynamic currency conversion rate* (ie. your own bank will decide the conversion rate)

But I remember reading here other people had different experiences with Bradesco so maybe their (lack of) fees just depend on your bank.

* I guess dynamic currency conversion (DCC) should almost always be rejected be it on an ATM, online or at a shop/restaurant, unless your bank charges you very high fees for foreign transactions.

Last time I withdrew money at an ATM in Brazil with my British card, I was charged an absolute bomb fee for a cash withdrawl. Much better off going to a currency exchange and doing it that way unless you don't mind the big fee...

@rocade Yes I agree. I always decline the conversion fees which are downright stupid. They are so high. My bank will handle the mid market world rate and then I think visa or mastercard whichever debit card you use will charge you "always" about 1.2% which isnt too bad.

However my bank refunds all the fixed ATM machine fees which are usually a fixed rate that equals to about $1 - $5 USD.

I just found out that my bank uses the PLUS and MoneyPass system. Most machines in the world have PLUS built in so that is good to know.

• Declining the dynamic conversion fees are tricky. It can be easy to say yes and accept it by accident if you do not concentrate.

I say this because you must accept the fixed ATM fee first in order to get to the conversion fee screen.

So it is always Yes for ATM fee and then NO for conversion dynamic.

It should be illegal for countries to convert your money at an ATM machine, due to the fact that your bank will give you the mid market rate which they do not make a profit on - as far as I understand it.

I noticed last year (2023) that the banks started to charge the IOF (Tax on Financial Operations) on withdrawals from my USA bank.  This is not an FX fee, but rather a tax you pay.  In any event, unless it's an emergency I now just use my US based credit cards.  No FX fee and no IOF.

While you won't pay the IOF don't kid yourselves that the bank does not shave a few pips off the forex transaction for their side of the ledger. They are just "misrepresenting" what they actually do.

Up in Canada, some things are tax free, but, they have a service fee......heh........SSDD.

@Gasparzinho 777 I can only speak from what I've used, but I haven't seen that to be true for any of my cards, AMEX, Capital One, Chase or Discover.  By and large they use only the mid-market rate.  Now there are some banks that say they just add the VISA/MC FX fee which is I believe 1% - but Capital One and Chase do not pass it on.

On the topic of ATM fees we just pulled some cash from our remaining CAD acct from both ITAU and Santander ATM's.

We disconnected our Canadian cell phones and unfortunately my wife got a final lump sum from her employer, which meant "no PIX for you"........

ITAU charged R$12 and Santander R$20 for a withdrawal. ITAU was also 1% less on the forex conversion.

Mike

We only have AMEX here, and I still have mine. I agree there is no visual proof on our statements they are not shaving us, but, AMEX is the premier worldwide travel card, so, I am sure that with their total card volume of international transactions we are just not being shown their vig. It's too much money for them to ignore.

@Gasparzinho 777 You mentioned Canada, so not sure what the laws are there, but for US issued cards banks MUST disclose all FX fees. 

Mike.....

Who really knows eh ? It's not in my character to trust a multinational western based financial institution to tell me the truth anyways, regardless of how they publicly posture themselves as doing so. Watch "The Big Short" if you haven't already done so.

I assume they are all lying criminal sacks of shit on the road to an inevitable bankruptcy and/or further bailout, and I deal with the ones that treat me the best for the moment.....heh.

@Gasparzinho 777 Well, in the US at least it's not about trusting a multinational corporation, it's about whether they would break the law.  Here the credit card market is crazy competitive so I personally don't believe any company would be willing to endure the negative publicity that would result in such shenanigans.