Patricia43
New Member
- Time of past OR future Camino
- Frances October 2019; Portuguese 2024
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Great Intel. Are the ATMs pretty much available throughout the Caminos?Assuming you are talking about the USD versus Euros, simply find the best card or bank that charges the smallest fee. If you are traveling in Europe you will need to have Euros in your pocket and/or a card that works there for little or no fee. ATM's in Europe don't normally ding you for more than a few euros for each transaction, the "merchants" do not have an ability to add a surcharge to your purchase, that will only come as a result of your credit card company.
Santander and other bank ATMs charged 7€ATM's in Europe don't normally ding you for more than a few euros for each transaction,
Yes, much like in the US. The fabled warning is always do your transaction outside of a "bank" that is currently open for business because if your card is rejected or eaten by the machine, you can usually go inside and get the situation corrected. An ATM on the front of some random shop on a Sunday morning is not a good place to find cash.Great Intel. Are the ATMs pretty much available throughout the Caminos?
I have been fortunate enough to have a Carte Bancaire, so I never pay fees. I was just guessing it was a few Euros.Santander and other bank ATMs charged 7€
The last couple of years I have only used ATMs that have the contact less "tap" function. I tap my card on the sensor and it never leaves my hand.Yes, much like in the US. The fabled warning is always do your transaction outside of a "bank" that is currently open for business because if your card is rejected or eaten by the machine, you can usually go inside and get the situation corrected. An ATM on the front of some random shop on a Sunday morning is not a good place to find cash.
No annual fee and no minimum balance, but I believe that you do need to also have a brokerage account with Schwab, though you don't have to fund it.Out of idle curiosity (as an Australian) can someone explain the apparent magic pudding of the US Schwab card?
Banks are not known for their generosity.
The European banks who own the ATM don't provide their services for free to Schwab.
1 Is there a high annual fee?
2 Is there a cross subsidy between non travellers and ATM using travellers?
Lucky Camino pilgrims
3 or between high spenders (eg credit card fee on usual purchases)
and low/non spenders who take foreign cash withdrawals at ATM.
or ???
Many ATMs in Spain also has the ability to "tap" your card to take out cash. So you do not need to stick it in the ATM itself (...and then loose the card if something goes wrong).Yes, much like in the US. The fabled warning is always do your transaction outside of a "bank" that is currently open for business because if your card is rejected or eaten by the machine, you can usually go inside and get the situation corrected. An ATM on the front of some random shop on a Sunday morning is not a good place to find cash.
Just wondering about this tapless function on ATM's. Again my vast knowledge of modern Tech. How do you know if an atm has this function, or how do you recognize it? Also do you tap the contactless tap function with side of the card that has the gold medallion or the opposite side and do you tap it right on the gold thingy.The last couple of years I have only used ATMs that have the contact less "tap" function. I tap my card on the sensor and it never leaves my hand.
Look for this symbol on the ATMJust wondering about this tapless function on ATM's. Again my vast knowledge of modern Tech. How do you know if an atm has this function, or how do you recognize it? Also do you tap the contactless tap function with side of the card that has the gold medallion or the opposite side and do you tap it right on the gold thingy.
Muchas gracias mi amiga!!!!!Look for this symbol on the ATM
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You tap where indicated with the side of the card with the gold chip. You may need to hold the card there for longer than a quick tap.
Look for an ATM with this feature where you live and practice before you get to Spain.
With regard to currency exchange fees and how to avoid them, there are suggestions to open a Schwab checking account and get their debit card. My credit union says they do not charge exchange fees from their end, but can not speak to any fee the merchant in Europe may charge. I am not sure if the representative really answered the question of currency exchange fees. Does anyone know if Schwab can do better than that? Thank you
A big advantage of a Schwab account over other banks and credit unions is that they rebate all of your ATM fees. This year most ATMs that I used charged about 7€ per withdrawal.
And always, always make your transactions in Euros to avoid the Dynamic Currency Conversion trap.
What Is Dynamic Currency Conversion And How To Avoid Paying It
Dynamic currency conversion allows consumers to choose to use their home currency when transacting with retailers, restaurants and other services in foreign countries. Customers view a bill showing the cost in the local currency, their home currency and an offered exchange rate if they charge theirwww.forbes.com
It's definitely something to watch out for, but every ATM that I used required me to re-enter my PIN if I wanted to make another transaction. Of course you want to make sure that no one is around to see you enter your PIN.Thank you Paul for mentioning that imperative! Doing the tap function would be much like leaving your card in the ATM and walking off without it.
Are you saying that you have never been charged a fee by the bank that owns the ATM?I can only speak to my Credit Union, but I have never, never, never paid extra fees using my CU ATM card in Europe at a bank ATM machine
Totally agree with the comment about not using a debit card. I never want to repeat the time I was nicked/hacked when I accidentally used one of mine for a meal purchase in Burgos and subsequently had to cancel my account and begin my credit card journey anew. Thankfully, I had an understanding bank and credit protection with LifeLock. Just imagine my panic when I was walking through the Meseta and started getting approval notices for major purchases that were beyond my credit limit in places I had never visited. What a frigging nightmare it was to deal with that night I was staying in Hontanas.I have used my Credit Union debit card at European ATMs (Always use a bank ATM, not a random one on the sidewalk) on 8 or 9 trips. I have never been charged any extra exchange fees and the Credit Union reimburses up to 4 ATM usage fee charges per month.
What ATM networks does your card work in?
I have never used my debit card at restaurants or stores while travelling, I always use credit cards for those transactions.
Are you saying that you have never been charged a fee by the bank that owns the ATM?
Fidelity has both debit and credit programs similar to that described for Schwab: No foreign exchange fees, and refunds of ATM fees made from Visa ATMs. No annual fees or fees to open. A core brokerage account (e.g. money market account) needs to be opened for a debit card, and (currently) pays around 5% annual interest.With regard to currency exchange fees and how to avoid them, there are suggestions to open a Schwab checking account and get their debit card. My credit union says they do not charge exchange fees from their end, but can not speak to any fee the merchant in Europe may charge. I am not sure if the representative really answered the question of currency exchange fees. Does anyone know if Schwab can do better than that? Thank you
Schwab is not a bank, it is an investment financial company which offers personal savings and checking accounts that are part of their personal investment options with stocks, bonds, treasuries, etc. When you open a savings account you are also given an investment account with it. Two separate account numbers but with the ability to move funds back and forth between investments and savings.Out of idle curiosity (as an Australian) can someone explain the apparent magic pudding of the US Schwab card?
Banks are not known for their generosity.
The European banks who own the ATM don't provide their services for free to Schwab.
1 Is there a high annual fee?
2 Is there a cross subsidy between non travellers and ATM using travellers?
Lucky Camino pilgrims
3 or between high spenders (eg credit card fee on usual purchases)
and low/non spenders who take foreign cash withdrawals at ATM.
or ???
Registered. Thanks!Yes, much like in the US. The fabled warning is always do your transaction outside of a "bank" that is currently open for business because if your card is rejected or eaten by the machine, you can usually go inside and get the situation corrected. An ATM on the front of some random shop on a Sunday morning is not a good place to find cash.
With regard to currency exchange fees and how to avoid them, there are suggestions to open a Schwab checking account and get their debit card. My credit union says they do not charge exchange fees from their end, but can not speak to any fee the merchant in Europe may charge. I am not sure if the representative really answered the question of currency exchange fees. Does anyone know if Schwab can do better than that? Thank you
This happened to me in Greece last year - just a few minutes past the 2pm bank closing! I hadn’t realised banks there closed so early in the afternoon.Yes, much like in the US. The fabled warning is always do your transaction outside of a "bank" that is currently open for business because if your card is rejected or eaten by the machine, you can usually go inside and get the situation corrected. An ATM on the front of some random shop on a Sunday morning is not a good place to find cash.
So sorry this happened to you. Most likely, the DCC was somewhere in the fine print on the screen and you were the victim of what we call a "negative response necessary" scam. Some foreign banks ATMs have begun to show the DCC as the "primary" or "default" option and the customer must enter a "negative response to avoid the DCC trap. I recently encountered two ATMs in Brandenburg Airport (Berlin) that offered the DCC as the primary option and I had to read the screen twice to figure out how to avoid it.Which ever bank ATM you use, avoid CaixaBank. We were robbed by them with the Dynamic Currency Conversion trap, despite NOT being offered the choice of currency to be used for the transaction. Visiting from Australia, I had ONLY euros loaded on my card. At the ATM, I requested to withdraw 300 euros and was advised there would be a 7 euro fee, to which I agreed. There was NO mention on the ATM screen of any other currency from which to choose. Later that day, I discovered 360 euros had been deducted from my account! They had converted my euros to Australian dollars, then back to euros again! I have been disputing this with CaixaBank for the past couple of months, to no avail, and I am about to escalate this with Spain's version of a financial ombudsman.
What does Wise say?Which ever bank ATM you use, avoid CaixaBank. We were robbed by them with the Dynamic Currency Conversion trap, despite NOT being offered the choice of currency to be used for the transaction. Visiting from Australia, I had ONLY euros loaded on my card. At the ATM, I requested to withdraw 300 euros and was advised there would be a 7 euro fee, to which I agreed. There was NO mention on the ATM screen of any other currency from which to choose. Later that day, I discovered 360 euros had been deducted from my account! They had converted my euros to Australian dollars, then back to euros again! I have been disputing this with CaixaBank for the past couple of months, to no avail, and I am about to escalate this with Spain's version of a financial ombudsman.
Something like this happened to me at an ATM in Burgos - it was really hard to know which option to choose because of the way it was worded!So sorry this happened to you. Most likely, the DCC was somewhere in the fine print on the screen and you were the victim of what we call a "negative response necessary" scam. Some foreign banks ATMs have begun to show the DCC as the "primary" or "default" option and the customer must enter a "negative response to avoid the DCC trap. I recently encountered two ATMs in Brandenburg Airport (Berlin) that offered the DCC as the primary option and I had to read the screen twice to figure out how to avoid it.
Best of luck in pursuing some sort of satisfaction with Caixa Bank.
Buen Camino.
That would be like any other ATM transaction tap or notBeware of the "tap scam"!
After cash is dependence, some tap ATMs ask, "Do you want another transaction?" The thief will then distract you at this point and then make another transaction with the open session,
Be sure to close ATM session before leaving.
-Paul
That very well maybe true however the institution whose ATM it is will zap you with a withdrawal fee - THAT'S the one we also try to avoidPNC has a new “black card” that doesn’t charge fees for currency conversion or foreign ATMs. (Supposedly; I haven’t tried it out yet.)
Someone told me that the merchants get a small cut of the conversion fee, which is why sometimes they want to push that button for you.Some traders will just assume that you (in my case UK) are foreign and push the conversion button, refuse it, only the bank wins here. They can easily re-enter the transaction in Euros.
Do you have a link to that policy, because I'm not finding that information.Also Capital One 360 debit cards refunds all ATM (foriegn and Domestic) fees, similar to Schwab.
I see what you mean. When you search for it, it doesn’t say that, most importantly on their own website.Do you have a link to that policy, because I'm not finding that information.
My Google search came up with this info via AI, which I don't trust to be accurate.
View attachment 176726
Also this from Nerd Wallet
View attachment 176729
I find that I lose when converting currency.You will always ***loose*** when converting currency.
I did similar in the early 2000s when I got a Bank of America account because I could use Santander and Deutschebank ATMs without fees, but they changed their policy and I got the Schwab card, which I use exclusively while I'm traveling. I like that the account is separate from my primary bank accounts.I remember specifically opening an account around 2002 and getting the Capital One card for this atm fee refund perk because I was living overseas at the time. But not anymore, apparently.
Some only charge 4 or 5 euros and I found one that charged no fee at all. Unicaja Banco in Vega de Valca - charged no fee. Euronet were about 3.95. I steered clear of Santander - as they had high fees of 7 euro.Santander and other bank ATMs charged 7€
Schwab goes by the Visa exchange rate, which is only an extremely small amount higher than Wise.With regard to currency exchange fees and how to avoid them, there are suggestions to open a Schwab checking account and get their debit card. My credit union says they do not charge exchange fees from their end, but can not speak to any fee the merchant in Europe may charge. I am not sure if the representative really answered the question of currency exchange fees. Does anyone know if Schwab can do better than that? Thank you
Thats right, Schwab says it reimburses the ATM fees from other banks . It’s not hard to find debit card that doesn’t charge their own fees , but it is really hard to find one that reimburses fees from other banks like the Schwab card.Schwab goes by the Visa exchange rate, which is only an extremely small amount higher than Wise.
They also reimburse all ATM fees, but they aren't the only bank that does so.
I have found some (can't remember which at the moment), but they generally have a limit of how much $$ they will refund or a limit on how many in a month they will reimburse, for example up to three ATM rebates per month.I’d be really interested in knowing what other banks reimburse foreign ATM fees.
(If I understand properly what you meant).
I’ve come across one or more, but since I already had Schwab, I didn’t bother to memorize the name.I have found some (can't remember which at the moment), but they generally have a limit of how much $$ they will refund or a limit on how many in a month they will reimburse, for example up to three ATM rebates per month.
That's why I like Schwab - I don't have to pay attention to how many withdrawals I've made or search for the ATM with the lowest fee.
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