What is the best card for withdrawing € on the Camino?

[Peregrina 2013]

First let me preface this by saying that I live in the United States and have a regular Visa Credit Card (my one and only card). At this point it is rather confusing trying to determine the most effective and economical way to withdraw money without having to worry whether the card will work or not. Is it true that only cards with a chip are accepted in Europe? That we in the United States do not issue any that have a chip and that's why all the problems arise?

Having heard someone tell me about how wonderful the Travelex card is only yesterday, when I was having a conversation about my upcoming trip to Spain, I decided to check online as soon as I got home. Perhaps it's my lack of understanding all the financial jargon, but it looks to me that they are not doing so well. Here is what I read on their website:

At the moment, Travelex is not selling the Cash Passport product in the USA. All Cash Passport cards sold in the USA on or before February 15, 2013 will no longer be reloadable, online or in the retail stores, after March 31, 2013 and will not be valid/useable for any transactions after April 30, 2013.

In the past I have always carried euros from home, obviously, not a good idea, because there never was a backup plan. Having lived in Spain and in Mexico and learning how to carry my purse allowed me to be confident to not worry about being mugged; and never was. Going on the Camino is a different story, so inquiring about the best card to have along, the Travelex was highly recommended. It doesn't sound promising. Now, the quandary, which to take, which does not charge an arm and a leg in fees?

Can anyone recommend what would work well in May-June 2013?

 

[newfydog]

To get cash you want a debit card. Schwab has a good one because you don't pay ATM fees. They charge a foreign currency fee but give a good exchange rate.

Everything else can go on a credit card. Capitol One and Bank of America have cards with no foreign transaction commission, and the Bank of America has a chip. The chip is only needed occasionally, such as some toll booths or restaurants looking for an excuse to get paid in tax free cash.

 

[David]

I'm uk so I don't know - but I have read that some U.S. cards have a different number of pin digits and don't work in European cash machines - is this true? No idea, but I did read it ... need some American veterans here :|

p.s. if in the UK - the Post Office credit card doesn't charge for overseas purchases, it is what I use when in Europe - but not for cash withdrawal :wink:

 

[jpflavin1]

Manoll:

I use a Charles Schwab debit card for atm's. There is no charge for atm use and a nominal charge for currency exchange (less than 1%).

I use a J.P. Morgan Visa card with a chip for all other major purchases (hotel), no currency exchange fee.

Ultreya,
Joe

 

[Damian27]

Thanks for this topic Manoll! I've been wondering the same thing, but my plan was just to start amassing some Euro before I head out. My only cards are an American Express and a Bank of America Visa...I was just going to take the Amex, but it all depends on the answers you get here now

¡Mil gracias!

Damián


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[lindseh]

Damián -

Amex is not nearly as widely accepted abroad as Visa and Mastercard. I've never travelled with one so I'm not entirely certain how hard it is to use, but from what I've heard you may want to look into some alternatives.

Ultreia,
Lindsey

 

[jeff001]

The safest and most economical way is with an ATM card with a 4 digit PIN linked to a checking account. You will find very few places outside the big cities that will accept AmEx.

 

[Damian27]

Thanks Lindsey, I will.

It so happens that my local bank here in NYC is part of Banco Santander - they have not fully integrated their systems so I can't access my account when I'm there, but they tell me they are negotiating. If I'm lucky they'll have it sorted out by the time I leave LOL. Having my ATM card work like a local branch there would be the ultimate grooviness!

Meanwhile I'll just sit back on the couch and soak up the lessons from you veterans They are much appreciated!

Damian


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[Kiwi-family]

Don't take the cards we took - our bank issued us with expired cards, which we did not notice until we tried to use them!

 

[Kitsambler]

Travelex is in the process of changing over their banking institutions. They are not a bank themselves, and the bank they were using apparently wanted to discontinue this product line. From the letter I received (I held one of their euro-denominated cards), they do intend to stay in this business, and will resume service once they have established a relationship with a different bank. Stay tuned for further developments.

@newfy: I did not know Bank of America was actually issuing RFID cards. How do I get one?

 

[vicrev]

ATMs love chewing up Travelex cards ...happened to me in Prague & Paris,..Vicr

 

[Damian27]

The safest and most economical way is with an ATM card with a 4 digit PIN linked to a checking account. You will find very few places outside the big cities that will accept AmEx.

Thanks Jeff...it's starting to look like that and cash are the best way to go.


Damian


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[clearskiescamino]

My visa debit card worked in all the ATM's I used. It is a maestro card. Have yet to use MasterCard though.

 

[newfydog]

I just opened a checking account at Chase, which I did not need, but they gave me $200' just for opening it. Comes with a debit card, Visa I think, and I am sure it would work fine in Europe. No monthly fee with $1500 balance.

 

[clearskiescamino]

By the way..is it true that there is no ATM from Logrono to Burgos?

 

[dxm300]

I use a Mastercard ATM card (from the United States) and I have never had an issue anywhere in the world except rural El Salvador. I think U.S. Visa and Mastercard cards are taken at most ATM machines in continental Europe. They often do not work in other types of machines, though (like those that sell train tickets - I almost always have to buy train tickets at a counter to use my American card).

 

[jburr3708]

Travelex is in the process of changing over their banking institutions. They are not a bank themselves, and the bank they were using apparently wanted to discontinue this product line. From the letter I received (I held one of their euro-denominated cards), they do intend to stay in this business, and will resume service once they have established a relationship with a different bank. Stay tuned for further developments.

@newfy: I did not know Bank of America was actually issuing RFID cards. How do I get one?

Just ask for one. My latest Bank of America Visa card came with a chip

 

[Deleted member 3000]

no ATM from Logrono to Burgos

No.

There are ATMs in at least Najera, Santo Domingo, and Belorado.

 

[newfydog]

@newfy: I did not know Bank of America was actually issuing RFID cards. How do I get one?

The BOA Travel rewards card is pretty near the holy grail of travel cards---VISA, no anuual fee, no foreign transaction fee, and a chip. They claim it is a true chip and PIN, like a European card, not chip and signature, but I am skeptical of that. I'll be in France in three weeks and will go to the grocery store and find out.

Regardless, this will replace my Capital One Mastercard as my main Euro card.

https://www.bankofamerica.com/credit-ca ... it-card.go

 

[clearskiescamino]

Thanks falcon..that clears that up. The PDF file with Albergue listings states otherwise.

 

[Peregrina 2013]

It has turned out to be a topic with a breadth of information! Now I have to see what is available here in Rochester MN. We have a Chase Bank in Minneapolis, several Charles Schwab banks in the metropolitan area, which means that I would have to travel to open an account. I do want to make sure it's not associated with any of my financial resources at all. I suppose the sooner the better it will be to figure how I am going to withdraw money without having to carry it all on me. I only have one credit card (VISA) -paid up every month, just accepted an AA Delta SkyMiles card with the promise to give me 30,000 skymiles as soon as I spend $500. Is it possible to use this card on ATM/Cash machines?

Up until now I really have carried cash, even when I took groups of kids to Europe and led my own trips, it was cash for everything, -from paying the hotels, the restaurants, entries to museums, sites, etc. The agency I organized my trips through would provide me with a cashiers check to make all the necessary payments - but no debit card! It was up to me how to handle it. Carrying lots and lots of € on me became my preferred choice for making payments, especially since Travelers Cheques became a thing of the past and impossible to cash in just about any bank, even when the currency was in euros!

Ideally not having to pay any service fees for withdrawing money is what I would like to end up with. After checking with Wells Fargo Bank and their debit card, and with a couple of other local banks, I'll be back for more insight from you guys!

Many thanks,

Mary

 

[newfydog]

I only have one credit card (VISA) -paid up every month, just accepted an AA Delta SkyMiles card with the promise to give me 30,000 skymiles as soon as I spend $500. Is it possible to use this card on ATM/Cash machines?

Mary

It is possible, but without fail, they charge interest at some horrible rate from the day you withdraw the cash. You pay no interest on purchases if you pay the card every month, but you will pay high fees on that months on cash advances. This is why you use debit cards only in ATMs.

Anyone out there know of a credit card which does not charge from day one on cash????

 

[Peregrina 2013]

Ahhhh those sneaky :evil: little financiers who play tricks on the rest of us! Well, I am actually looking into the Bank of America Capital One Mastercard that Newfydog recommended. It looks very promising as far as no foreign transaction fees, with the recommended Smart chip technology that they seem to want in Europe. Still not sure because I will thoroughly read the terms and conditions for cash advance in a foreign country, call them to appease my über fear of identity theft / having a card that won´t allow me to withdraw cash when I need it! I´ll keep you posted!
Greetings,
Mary

 

[zakosdad]

We have used both Visa and MasterCard all over Europe including Spain. Ours are from Capitol One. I like them because they do not charge a 3% surcharge that some USA banks add on to purchases. As for cash I only carry about $100 US $$ and use either my Capitol One Debit card or Ally Debit card. They refund credit card fees so I get an excellent rate of exchange by using ATMs and no fees either abroad or at home. My cards have a 4 digit pin.

A word to the wise - DO NOT use your credit card at the ATM - the money you get acts like a cash advance and they will charge you interest $$$ the minute you get the money and even after you pay your next bill - even if you pay your account in full each month as the interest accrues daily. Be sure to get a legitimate "debit" or "atm" card and do not link to your account with your major money - better to play safe and link your debit card to a separate checking account with only the money that you might need when away i.e. $1000 - $2000 to limit your risk of loss, just in case.

Buen Camino
Dale

 

[Kathy F.]

I just need a clarification. The Bank of America travel card, Cap One Venture and Chase Platinum (do I have those correctly? they are the most common USA based travel cards?) are all credit cards. So, although they give good rates on foreign transaction fees and may have the correct chip and PIN for use at ATM machines in Europe, they should not be used to get actual cash from an ATM while on the road because they will charge a cash advance on your credit card fee that we are all trying to avoid. Just want to make sure I understand.

"How to get cash on the Camino" is a question I've been struggling with for a while, still looking for a satisfactory answer. Who knew it would be so hard to find a bank in Europe that would like to hold onto my American dollars! I'm trying to get with Santander because I figure it's a Spanish bank and I'll be travelling in Spain, so . . .

Would those Americans who have traveled recently on the Camino share their experiences? Is this a non-issue? Is there a workable solution? How difficult did you find it to get cash while travelling? Good? Bad?

On behalf of all Americans traveling on the Camino, thanks to everyone for their help with this!! :wink:

Kathy

PS - Now that I've got my passport squared away, and this money problem is being addressed, the only worry left is - ugh - bedbugs!!! :shock:

 

[newfydog]

You've got it.

Credit cards--Not for ATM
Good credit cards Capitol one, Bank of America Travel Rewards

Debit cards--- for cash

Good debit cards---Schwab---no atm surcharge, small exhange fee

Bank of America----no ATM charge at some sister banks (BNP, Santander, I think), small foreign currency exchange fee.

Most cards work in most machines/businesses. It is rather rare to find a problem.

 

[Peregrina 2013]

Hey FooteK! There is a silk liner that is already treated to repeal bedbugs. My husband actually ordered one for me I will post the link tomorrow morning. Now this is something that might be a savior to many of us concerned with the nasty beasties! I love this Forum because all of you havae the best ideas and information For that many many thanks!!

Cheers!

Mary

 

[Kathy F.]

Mary, a treated silk liner sounds good. Last weekend I got a nice, light, untreated bag from Decathlon that I think would do the trick temperature wise but I'm still concerned about creepy-crawlers.
Kathy

 

[Deleted member 3000]

Treat your bag with this, or a similar, product:

http://www.amazon.com/Sawyer-Permethrin ... permethrin

 

[TrailSnail]

First check with your bank and credit card vendors to see what type of foreign transaction fees they charge. Every bank and credit card (even within same vendor) can be different. Also, while you have them on the phone have them mark your account for being out of the country so your card doesn't get blocked while you are away.

For me, my cc charged a 3.5% foreign transaction fee for any purchases made on that card. I brought my cc but only would use it for an emergency, which I never had one that I needed to use the cc for (even broke my arm in Lisbon). 3.5% may sound trivial, but compared to my debit card ended up being much more expensive.

My bank only charged me a $1.50 per use ATM fee on my debit card which I had the bank set a withdrawal limit to $200. That made my fee to be .75%, and that was MUCH cheaper than 3.5% from my cc and therefore I just made sure I had cash on me at all times. I would withdrawal the maximum limit I had set on my account each time (need to know the approximate exchange for that amount while you are traveling). I also used my debit card as a cc (with no additional fees) at places that took cards - most hostels/hotels. The only place I really had any trouble was in the Netherlands, where they ONLY use the chip cards at shops (the ATMs worked fine for getting cash there), so I would think there might be a few more countries like the Netherlands that only use the chips for the shops. That being said, in Portugal and Spain I did not have those issues (took the Portugues route to Santiago).

Hope this is helpful.
TS

 

[Anniesantiago]

I opened an online Charles Schwab account and used it for my last two Camino walks. I love it, for one reason because they reimburse me at the end of the month for all fees!

That includes not only foreign currency exchange rate fees but any bank ATM fees.

They also only charge you the current spot rate of exchange.. no extra added fees.

The only downside is that you must mail in your deposits.
But other than that, it worked great.

 

[godslamb]

Anniesantiago--Thanks for the great info! I was wondering how I was going to withdrawal my money without any fees.

 

[Anniesantiago]

You are very welcome. I love that Schwab card!

 

[newfydog]

we are in France now and I thought I would update on the new Bank of America card wiTh the chip.

It does work in the chip slot of the portable credit card machines in all the stores and restaurants. It does not work as a chip-and PIN card however; you will often have to sign a little paper slip from the machine.

IT DOESN'T WORK AT Toll booths!!!!!

One toll spit out the card, but worked with an American Express which had no chip. Another toll spit out the B of A card, then ate the American Express. I got it back with lots of horn honking and bad French.

 

[colinPeter]

We purchase "travel money" cards, pre-loaded with Euros. On our first Camino we both used Visa debit type (ATM only) with absolutely no problems. On our second Camino, one Visa debit (ATM only) & one MasterCard (ATM or over counter), Visa was great but MasterCard had to search for ATMs.

I notice that most of the Visa "Trave Money" cards are being replaced by MasterCard here in Australia.
However, if you use the Visa & MasterCard Web ATM locators (do a search of smaller towns along the route) you will see why it is easier to use Visa (ATM) on the Camino particularly in the smaller towns.

So, from past experience I would recommend Visa for ATM withdrawals.

Col

 

[Green Tortuga]

It's hard to give advice to others about which card that you already have is best for withdrawing money on the Camino since we don't know what kind of cards you have. You'll get a lot of suggestions, but I doubt it would be worth the effort required to open accounts or get a new card just to use for a month or two on the Camino. Use something you already have.

Credit cards generally start charging interest on cash advances immediately so debit cards are usually preferably to credit cards. (I suppose you could try to "overpay" a credit card and treat it as a pre-paid card--I'm not sure how well they handle such a "misuse" of their cards, though.)

If the debit card has a Visa or Mastercard logo on it, you'll have no trouble finding ATMs that will accept it. European cards have this "chip and pin" thing going, but that's easy enough to get around. Tell them to "slide" your card through their machine so you can sign it. Seems like their machines have two different ways to run cards--one way they insert it you would a keycard at a hotel. The other way slides it through the side of the machine. More often than not, they'll try to use it like the keycard of a hotel--just tell them to slide it instead and it'll work. Or pantomime a sliding motion with your hand if they don't speak English. They'll know what you're talking about. =)

As for selecting the best card for your purposes.... assuming you already have a two or three to choose from--here's what I would do: Get to an ATM upon your arrival in Europe, then take out 50 euros (or whatever you need) from every card you can use. Make sure to use the same machine for all of them, and make sure to run them all at once. When I did my Camino walk, I wanted to start with 200 euros in cash and had four cards, so I pulled 50 euros from each of them.

When you can get online, check all of your accounts and find out which one charged the least and start using that one for the rest of your walk for withdrawing money from ATMs. =)

Unless you try them all, you'll just be guessing about which one ultimately gives you the best rates. (For me, my best results was from a debit card issued by my credit union. My PayPal card did *almost* as well but they charged me an extra one dollar for ATM withdrawls.)

-- Ryan

 

[Anniesantiago]

As I posted, the Charles Schwab debit card charges ZERO on all withdrawals.
In addition, at the end of the month they reimburse you any fees the other bank charges.
NO fees at all.
None.

 

[newfydog]

One more update
The Bank of Am card with the chip does work in the card operated gas pumps.

The Schwab card has worked in every single ATM

 

[luvtraveling]

As I posted, the Charles Schwab debit card charges ZERO on all withdrawals.
In addition, at the end of the month they reimburse you any fees the other bank charges.
NO fees at all.
None.

I recently opened a Charles Schwab account because it will save me quite a bit in fees while I am on the Camino. What could be better?

Denise

 

[Damian27]

Ditto the Charles Schwab switchover.

Good-Bye Bank of America, Helloooooo Chuck!


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[kmrice]

Do European credit cards have BOTH a chip and a PIN? I just got am American BoA Travel Rewards card. It is supposed to have a chip but doesn't say anything about a PIN; the information I got with it says "no PIN required." Can I expect this to work on the Camino as a credit card? Is there a different BoA card which has both a chip and a PIN? I plan to use other cards as debit cards for withdrawing cash.

Thanks to anyone who can set me straight on this.

Karl

 

[Tomboak]

Just got back. For credit card purposes, everyone that takes a card takes a regular American mag-stripe card. If it asks for password hit the enter key and all is well for charge. For cash machines you need a,Visa or Amex (and no double Master) debit or prepaid cash card with a four digit PIN (no more no less). If you have a four digit PIN for your credit card you could use it in a telebanco, but the bank will start charging interest from the day you pull the money out.

Check out how much they add for foreign money transactions, and ATM visits. My credit union charges nothing extra for the ATM but 1% foreign exchange. Amex money cards charge no foreign transaction fees but $2 each time. Others are more expensive and some ATM in Spain charged their own extra fees.

 

[newfydog]

The BOA travel rewards works withot a PIN......where it works.

It works in all stores and restaurants so far, it works in automated gas pumps which state a chip is required, it works in London train ticket machines.

It does not work in French toll booths

 

[kmrice]

I think I understand but want to make sure: do ATM machines on the Camino accept debit cards with a 4 digit PIN but no chip? I.e., cards with a mag strip and a PIN?

Also, someone told me that the PIN must not start with a zero. Any truth to that?

Thanks for all the help on this thread.

Karl

 

[luvtraveling]

I think I understand but want to make sure: do ATM machines on the Camino accept debit cards with a 4 digit PIN but no chip? I.e., cards with a mag strip and a PIN?

Also, someone told me that the PIN must not start with a zero. Any truth to that?

Thanks for all the help on this thread.

Karl

Yes, you understand perfectly. I don't know about a PIN not starting with a zero, but there are 9 other numbers to choose from, why tempt fate?

Denise

 

[annelise]

I used both Visa and Mastercard succesfully (both with a chip and a four-digit pincode).

However, I only used the cards for getting cash in ATMs outside banks and always during bank opening times. I have a paranoid fear of an ATM 'swallowing' my card (has not happened though) - but if so, I could get the bank to retrieve my card. But no problem with paying an occasional hotel bill or railway tickets.

 

[acdbee]

I have travelled fairly extensively throughout the world. My husband and I have often "overpayed" our Visa credit card and have been able to get a cash advance. With each transaction (usually at about 2 week intervals - we try to pay by credit card when we can), we withdraw the maximum amount per day, which is usually equivalent to 500$ CDN. The credit card charges 5$ per transaction, but there is no interest if you withdraw money which is "over" your maximum amount. There is a fee from Visa (usually 2%) for the exchange.

In the above scenario, we usually carry two different cards - one on which we do our withdrawals, and one which we actually "use" as a credit card.

We have also had some significant success bringing CDN dollars to various countries and exchanging a wad at a bank. The banks usually don't have bad rates. You have to then carry around some money, though. We haven't had any issues with that so far, knock on wood.