1. Beware of Standalone Tourist ATMs:

Avoid standalone ATMs that are not labeled "Multibanco." These machines are often found in popular tourist areas, outside small shops and cafes (such as Euronet). Using these ATMs can result in exorbitant fees, typically around €4 or €5, and unfavorable conversion rates. Stick to Multibanco ATMs for secure and cost-effective withdrawals.

2. Decline ATM Currency Conversion:

When using an ATM, always decline the option for currency conversion. The ATM may prompt you twice, but it's essential to decline both times. Accepting the conversion can lead to poor exchange rates and unnecessary charges. Opt for the local currency, which is the euro, to ensure fair rates and avoid additional fees.

3. Choose Euro as the Currency:

During credit card transactions, particularly at restaurants, shops, or hotels, always select the euro as the currency for payment. Some establishments may offer to convert the amount into your home currency, but this often results in unfavorable exchange rates. By choosing the euro, you can ensure transparency and potentially save money on unnecessary conversion fees.

4. Plan Ahead and Carry Sufficient Cash:

To avoid excessive ATM withdrawals and fees, it's advisable to plan your spending ahead of time. Estimate your daily expenses and withdraw a sufficient amount of cash in advance. This way, you'll have funds readily available and can minimize the reliance on ATMs, especially in areas with limited ATM options or potential scams.

5. Stay Vigilant and Protect Your Personal Information:

While using ATMs, be cautious of your surroundings and ensure the machine appears secure and undisturbed. Cover the keypad when entering your PIN to prevent potential skimming devices. Additionally, keep an eye on your bank statements and report any suspicious transactions immediately to your bank.

Conclusion:

By following these important tips, you can protect yourself from ATM scams, unfavorable exchange rates, and unnecessary fees while exploring Lisbon. Prioritize the use of Multibanco ATMs, decline ATM currency conversion, and choose to pay in euros during credit card transactions. With careful planning and vigilance, you can make the most of your money and enjoy a worry-free experience in the beautiful city of Lisbon.