Bank, debit card charges

[Mark Baron]

Is anyone aware of a Spanish Bank that does NOT charge forigen debit cards for Euro withdrawals? I'm Canadian, with the Royal Bank of Canada.

Please Note:

1. I do not plan on getting a Spanish bank account.
2. I do not beleave the Royal Bank is affiliated with any Spanish Banks.
3. With the my bank account, the the Royal Bank does not charge me for withdrawls at the Canadian end.

Just trying to avoid 5-7 Euros per withdrawl over a 6 week period??

Regards in advance

 

[C clearly]

It is the Royal Bank that charges you $5 per transaction. I bank with them and have no charges at home, but they do charge for foreign withdrawals. In Spain, sometimes a bank would not accept my card (for unknown reasons) but I found that Santander was quite reliable. There are other good banks too - just be sure that the bank shows the same "Plus" or "interac" symbol that is on your card.

 

[jenwearing]

I always used machines with the + symbol in any country- there were a few different banks that had these - bigger ones like Santander. I have the kind of package where even if I am charged 2-3 EURO, RBC will waive some of them. I've never been charged as much as 5-7 EURO this way.
http://www.rbcroyalbank.com/travel/gtc4.html

 

[Rick M]

You must render unto Royal what is Royal's. Get 300 euros at a shot, and you won't have to pay the fee too many times. Use a credit card when you can, which isn't very often, and stretch your cash reserve. When you can use your credit card, always decline the offer to post the transaction in dollars rather than euros.....Royal will give you a better exchange rate.

Buen Camino

 

[HedaP]

In my experience when you are in the process of making a withdrawal the atm will tell you the fees their bank will charge. As soon as I get the message that the charge will be 5€ I cancel the transaction. A few attempts at withdrawals from various banks will let you know which ones play nicely with your bank.

Experience will also teach you which atms let you select your withdrawal in small currencies which for me is useful when I walk alone.

When withdrawing euros, the atm will give you the option to choose immediate conversion to euro or from your own currency. Again in my experience the cheapest option is to choose Euros.
(Please note: I have edited this paragraph with thanks to @trecile for the correction.)

Note that most banks have a limit on the maximum withdrawal of euros in any one day. You may need to confirm this with your bank before leaving home.

Additional unsolicited advice is to take more than one card and to only withdraw money during hours when the atm bank is open.

Apologies for all the extra info but thought your thread might be useful for those who are new to the camino.

Buen camino.

 

[trecile]

When withdrawing euros, the atm will give you the option to choose immediate conversion to euro or from your own currency. Again in my experience the cheapest option is to choose your own currency.

I disagree. You should choose euros.
This article explains it better than I can: https://transferwise.com/us/blog/choose-local-currency-at-foreign-atm

 

[Saint Mike II]

I agree about using the larger banks. I had a Travel Money Card (MC but issued by my bank in Oz). I had it loaded with Euros. I would usually withdraw around E200 at a time, slightly more if I knew I was going to be in an area with limited ATM options. I usually was charged E2.20 for each withdrawal - actually its just a fee to use their ATM. Good luck

 

[Givesome]

Consider a money passport card: http://www.cashpassport.com/1/global-landing-page/

You preload the card with euros and don't have to convert every time you withdraw money at an ATM. The card can be used like a credit card as well. When you loose the card it can be replaced by banks across the world and you don't have to wait for a replacement card from your bank.

This is a much saver option than a credit or debit card from your own bank.

 

[HedaP]

I disagree. You should choose euros.
This article explains it better than I can: https://transferwise.com/us/blog/choose-local-currency-at-foreign-atm

Thank you for the update. It’s interesting but it does go against what I have heard. I started this thread in July last year.
https://www.caminodesantiago.me/com...n-atm-or-credit-debit-card.49562/#post-538214
Maybe the situation has changed?
Cheers
H

 

[trecile]

Thank you for the update. It’s interesting but it does go against what I have heard. I started this thread in July last year.
https://www.caminodesantiago.me/com...n-atm-or-credit-debit-card.49562/#post-538214
Maybe the situation has changed?
Cheers
H

Did you realize that you contradicted your own advice in this thread from the previous thread?

"Others may already know this but I didn't and was pleased to learn it. If you are not from an EU country, when using an atm or your credit/debit card on the camino, you are presented with an option to make the withdrawal/payment in local currency (ie. euros) or your home currency. I never knew how best to answer this question. Listening to the BBC early this morning there was a great segment on just this topic. Apparently the charges involved in converting to home currency can be excessive. According to the BBC, and I quote, "It is almost always better to pay in local currencies".

 

[HedaP]

Did you realize that you contradicted your own advice in this thread from the previous thread?

"Others may already know this but I didn't and was pleased to learn it. If you are not from an EU country, when using an atm or your credit/debit card on the camino, you are presented with an option to make the withdrawal/payment in local currency (ie. euros) or your home currency. I never knew how best to answer this question. Listening to the BBC early this morning there was a great segment on just this topic. Apparently the charges involved in converting to home currency can be excessive. According to the BBC, and I quote, "It is almost always better to pay in local currencies".

Oh dear you are absolutely correct. My memory is appalling!
I will edit my earlier post and credit you.
H

 

[trecile]

Oh dear you are absolutely correct. My memory is appalling!
I will edit my earlier post and credit you.
H

It's easy to get your brain turned around on this!

 

[Deleted member 43985]

Have a look at the CIBC Prepaid Euro Visa. Once you load money on the card there is no exchange fees and so far I haven’t paid any ATM in Spain. I get one free withdrawal per month (from CIBC’s side) so take the money I’m comfortable with carrying. It functions as a Visa everywhere they take cards (hotels, supermercados, airlines, etc) that you may encounter on your trip. And the part I like best is that I can load the card online from my online banking with only the amount I want so if it gets lost/stolen it is minimal damage.

 

[C clearly]

Consider a money passport card

Banking practices and products vary a lot in different countries.

 

[kelleymac]

Remember to tell your bank/credit union back home that you are going abroad, or they may freeze your account. That goes for your credit cards too.

buen camino-

 

[Mark Baron]

In my experience when you are in the process of making a withdrawal the atm will tell you the fees their bank will charge. As soon as I get the message that the charge will be 5€ I cancel the transaction. A few attempts at withdrawals from various banks will let you know which ones play nicely with your bank.

Experience will also teach you which atms let you select your withdrawal in small currencies which for me is useful when I walk alone.

When withdrawing euros, the atm will give you the option to choose immediate conversion to euro or from your own currency. Again in my experience the cheapest option is to choose Euros.
(Please note: I have edited this paragraph with thanks to @trecile for the correction.)

Note that most banks have a limit on the maximum withdrawal of euros in any one day. You may need to confirm this with your bank before leaving home.

Additional unsolicited advice is to take more than one card and to only withdraw money during hours when the atm bank is open.

Apologies for all the extra info but thought your thread might be useful for those who are new to the camino.

Buen camino.

Thanks, The method's/advice is pretty much what I have done also. Just wondering re: to only withdraw money during hours when the atm bank is open. is this in case you have a problem??

 

[Mark Baron]

Consider a money passport card: http://www.cashpassport.com/1/global-landing-page/

You preload the card with euros and don't have to convert every time you withdraw money at an ATM. The card can be used like a credit card as well. When you loose the card it can be replaced by banks across the world and you don't have to wait for a replacement card from your bank.

This is a much saver option than a credit or debit card from your own bank.

Thanks, Good one I'll give it a try!

 

[MikeyC]

The Weswap card is available in 10 European countries including the UK. Link to your debit card and load or preload the amount you require. You can convert this into one or more of 18 currencies. ATM withdrawals are free above a certain limit - Euros 200 for Spain. (I've used this card in Europe and Asia without problems)
As with any ATM keep an eye out for surprise charges and cancel as needed before finding a free to use ATM.
Take a Credit card and debit card and tell your bank where and when you are travelling - Santander allows this online in the UK
NEVER let the merchant charge you in your home currency when paying by card. This is called Dynamic Currency Conversion and can cost you up to 10% more than paying in local currency. I had a sneaky hotel in Seville charge me in £ sterling and had a right ding dong to get them to cancel and put it through in euros but there was a £35 difference when I finally received my credit card bill. Buyer beware indeed!

 

[Mark Baron]

Have a look at the CIBC Prepaid Euro Visa. Once you load money on the card there is no exchange fees and so far I haven’t paid any ATM in Spain. I get one free withdrawal per month (from CIBC’s side) so take the money I’m comfortable with carrying. It functions as a Visa everywhere they take cards (hotels, supermercados, airlines, etc) that you may encounter on your trip. And the part I like best is that I can load the card online from my online banking with only the amount I want so if it gets lost/stolen it is minimal damage.

Thanks for the advice!!

 

[Mark Baron]

It is the Royal Bank that charges you $5 per transaction. I bank with them and have no charges at home, but they do charge for foreign withdrawals. In Spain, sometimes a bank would not accept my card (for unknown reasons) but I found that Santander was quite reliable. There are other good banks too - just be sure that the bank shows the same "Plus" or "interac" symbol that is on your card.

Your right it's the Royal Bank that charges the $5.00, but like I said with MY ACCOUNT these charges are waved!!! It's the surcharge fee below I'm trying to avoid.

Interac And PLUS System ATM Fees
When you use your RBC Client Card at an RBC Royal Bank banking machine, you only pay the applicable service fees for the transaction you are performing. However, when you use another operator's ATM, additional fees (as outlined below) may apply, depending on your bank account or package with us.

Table caption
ATM Network RBC Royal Bank Fee Interac $1.50PLUS System (within USA) $3.00PLUS System (outside Canada and USA) $5.00

Some ATM operators also apply a surcharge (or convenience fee) to use their banking machine. In Canada, all banking machine operators must notify you when they apply a convenience fee. The notice will appear on the screen before you complete your transaction, giving you the choice to proceed or not. This convenience fee is not an RBC Royal Bank fee. It is added directly to your withdrawal amount at the time of the withdrawal and goes directly to the ATM operator. RBC Royal Bank does not collect any portion of the convenience fee. For this reason, all clients who use these ATMs will be charged the convenience fee, regardless of the type of package or account they hold.

 

[Peter Fransiscus]

I'am glad that I live in Holland and that I don't need to change money or use a debet card or what ever to get Euro's .
Wish everybody that they get cheap Euro's.

 

[Tia Valeria]

We carry a Travel Money card loaded with euros and we pay cash in store, so avoiding loading fees applied to debit/credit cards. Withdrawals are all charged at €2 regardless of the amount withdrawn, up to the maximum allowed in any 24 hour period. We carry a credit card for use where appropriate (eg hotel) but otherwise rely on cash and ATMs. For ATMs we check where they are located and also can see if they charge a fee themselves. Our card is a 'Mastercard' not 'Visa' - which may be charged at more ATMs.

 

[C clearly]

It's the surcharge fee below I'm trying to avoid.

I have never been charged a surcharge when withdrawing on my Royal debit card, except on the rare occasion when I use a non "Interac" or non "Visa" machine. Just watch for those symbols. As I mentioned, I tend to go to the Santander banks which are quite common.

 

[HedaP]

Thanks, The method's/advice is pretty much what I have done also. Just wondering re: to only withdraw money during hours when the atm bank is open. is this in case you have a problem??

Yes, not that I’ve ever had a problem but others on this forum have had their cards swallowed by the atm and if the bank is open you can hopefully get it back. It’s yet another thing I’ve learned from this forum.

 

[Walking Lover]

Is anyone aware of a Spanish Bank that does NOT charge forigen debit cards for Euro withdrawals? I'm Canadian, with the Royal Bank of Canada.

Please Note:

1. I do not plan on getting a Spanish bank account.
2. I do not beleave the Royal Bank is affiliated with any Spanish Banks.
3. With the my bank account, the the Royal Bank does not charge me for withdrawls at the Canadian end.

Just trying to avoid 5-7 Euros per withdrawl over a 6 week period??

Regards in advance

We take all the cash we need. We use two money belts, one hidden beneath our clothing and another one with just enough cash for a day.

 

[Deleted member 77020]

Is anyone aware of a Spanish Bank that does NOT charge forigen debit cards for Euro withdrawals? I'm Canadian, with the Royal Bank of Canada.

Please Note:

1. I do not plan on getting a Spanish bank account.
2. I do not beleave the Royal Bank is affiliated with any Spanish Banks.
3. With the my bank account, the the Royal Bank does not charge me for withdrawls at the Canadian end.

Just trying to avoid 5-7 Euros per withdrawl over a 6 week period??

Regards in advance

I am with Scotia Bank and they gave me two such banks Deutch Bank and also a French Bank but cannot remember name..but the Deutch Banks are few and in only selected cities in Spain.

 

[Aysen Mustafa]

I got charged 5 euros to withdraw 300 euros at the Caixas Bank in Logrono. I didn't feel like shopping around but will in the next town with options.

 

[Tia Valeria]

Try Liberbank, we were not charged for use of a MasterCard. Visa might be different.

 

[Aysen Mustafa]

Thank you, but I don't recall seeing Liberbank. I have a debit card loaded with euros, so it isn't a cash advance. I will post an update when I find a bank with a cheaper rate.

 

[Tia Valeria]

Thank you, but I don't recall seeing Liberbank. I have a debit card loaded with euros, so it isn't a cash advance. I will post an update when I find a bank with a cheaper rate.

Our card is also a euro loaded cash card, but is linked as a MasterCard not Visa. Caixabank did not charge us when we used their ATMs on the Norte. That is why I wonder if you have a Visa type of card.

 

[Deleted member 77020]

I am with Scotia Bank and they gave me two such banks Deutch Bank and also a French Bank but cannot remember name..but the Deutch Banks are few and in only selected cities in Spain.

yes, that is true, furthermore, I was informed by Scotia bank that the 5 euro transaction fee has gone up to 7 euros now.