Money exchange

[cecimoon]

Good morning Pilgrims! My name is Cecilia and I will start the Camino Frances on 6-8. My quesiton is should I buy Euros in my bank in US before I leave or in SJPD? It's a big difference or not?
Thank you!

 

[PiesIrlandeses]

Good morning Pilgrims! My name is Cecilia and I will start the Camino Frances on 6-8. My quesiton is should I buy Euros in my bank in US before I leave or in SJPD? It's a big difference or not?
Thank you!

Get your euro cash from ATMs in France and Spain with your debit card. Check your bank's fees in advance, and notify them that you will be using the card abroad.

 

[trecile]

Get your euro cash from ATMs in France and Spain with your debit card. Check your bank's fees in advance, and notify them that you will be using the card abroad.

This is what I always do. I always bring two debit cards from different banks, in case there's an issue with one of them. I use the bank's app to turn "off" the card card that's in reserve. Then if I have an issue with my main card, or it's lost or stolen I can turn my backup card "on."

Another thing I do is only use ATMs that are "contactless" where you don't have to insert your card into the machine. That way there's no risk of a card being "eaten."

I also recommend getting a free Charles Schwab checking account. There's no fees or minimum balance, but the most important thing is that they reimburse all ATM fees.

 

[cecimoon]

Thank you so much!

 

[C clearly]

I prefer to buy my first supply of Euros (e.g. 300) at home in Canada, so I do not need to worry about finding a bank machine right away. Maybe the exchange rate is different - I don't know, but the convenience is worth it for me.

 

[cecimoon]

Sound also a good idead, have some cash in advance.

 

[J Willhaus]

Many places will take a credit card now in Spain so it may be less critical to have cash when you land. Now, I just bring euros from my previous trips with me, but in the past I just went to an ATM when I landed.

The Schwab card mentioned is a good deal, but you need to think ahead and do that in enough time to get the card in the mail before your trip. We were also required to get an investment account at the same time although you don't have to fund it.

The Schwab account refunds all ATM fees up to a certain amount each month ($300 I think) which can add up. There is no charge for the account, plus it pays interest for money that you have in the account.

 

[trecile]

The Schwab account refunds all ATM fees up to a certain amount each month ($300 I think)

I've never heard of such a limit, but to rack up $300 in ATM fees would take a lot of withdrawals! At least one a day.

Here's the info about the Schwab account

Charles Schwab

 

[cecimoon]

Thank you all the responses. I will check with the bank to have some euros ready.

 

[Peterexpatkiwi]

Another thing I do is only use ATMs that are "contactless" where you don't have to insert your card into the machine. That way there's no risk of a card being "eaten."

It's an excellent idea but for any newcomers out there please ensure that you proactively log out and do not walk away before the ATM has finished closing down.

When you insert your card into a slot, logging out is part of the process to get your Card back.

However with the tap function this does not happen, it remains open for a short time after you finish and a scammer waiting behind you (or using the machine next to you) simply steps up and makes another withdrawal. Yes, they may need your pin but that is relatively easy to capture if you are not cautious.

Be especially wary if you cannot get your card into the slot! It's probably been filled with glue and there will be a scammer waiting nearby.

It's simple to protect yourself:
cover the keypad, and log out before you walk away.

 

[HeatherJourney]

Thank you for this thread - I wondered the same thing! (First trip from the US to Europe.)