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POS = at a cash register. (Point of Sale)
ATM = Automatic Teller Machine.
Regardless the card issuers decide to exchange rate and not the ATM or POS machines. Those machines just have a set per transaction fee. Any exchange rates are set by the card issuers by assorted agreements with the banks. Thought it is all to easy and common to blame the machine's. Primarily because for way to long it seems like the machines were jacking people with free transactions for cards their bank issued, and other rates for non bank cards. Even worse is some convenience stores or places like Vegas would charge a very high transaction rate or a minimum percentage, and even charge this amount when you checked your balance.
If you do not believe me locate and ask some people that own and operate their own ATM machines or have a store with POS ability.
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