Tips on Spanish ATM fees?

callum9999

While not relevant for those using Clarity etc., the DCC isn't always a rip off. On mainland Spain I've come across a few that offered to do DCC with a 0% markup, and many more that offered it for a 2% markup. If you have a standard debit/credit card then that would most likely be a better rate than your bank would charge you.

Doshwaster

YorkshireBoy wrote: »

I was in Lanzarote earlier this year (in fact I'm there every March) and, like the poster above, withdrew from a Santander ATM using my Metro card.

To me, the on-screen message was very clear. To paraphrase:

"Do you want us to do the conversion for a 2% fee, meaning the €100 withdrawal will cost you £88.21 (just an example!), or would you like your bank to do the conversion?"

Having gone to the trouble of getting the Clarity card/Metro Bank card/etc, and knowing there is no conversion fee, why on earth would you want to opt for the latter?

In short, just read (and understand) the message and rest easy!

Because some people don't think straight - especially when on holiday after a few sangrias. If they see an ATM screen offering an exact amount in pounds versus an unknown amount then some people will take the the first option.

I have also seen on-screen messages which are either confusing or misleading. I've even seen an ATM in a tourist area with a sign next to it, in English, telling people to choose the option to be charged in pounds for a "guaranteed rate" (even though that rate is certainly worse than what your bank would use)

zagfles

YorkshireBoy wrote: »

I was in Lanzarote earlier this year (in fact I'm there every March) and, like the poster above, withdrew from a Santander ATM using my Metro card.

To me, the on-screen message was very clear. To paraphrase:

"Do you want us to do the conversion for a 2% fee, meaning the €100 withdrawal will cost you £88.21 (just an example!), or would you like your bank to do the conversion?"

Having gone to the trouble of getting the Clarity card/Metro Bank card/etc, and knowing there is no conversion fee, why on earth would you want to opt for the latter?

Because the latter doesn't charge 2%

In short, just read (and understand) the message and rest easy!

Indeed!

zagfles

callum9999 wrote: »

While not relevant for those using Clarity etc., the DCC isn't always a rip off. On mainland Spain I've come across a few that offered to do DCC with a 0% markup, and many more that offered it for a 2% markup. If you have a standard debit/credit card then that would most likely be a better rate than your bank would charge you.

0% on the interbank/Mastercard rate? Wonder what's in it for them?

YorkshireBoy

zagfles wrote: »

Because the latter doesn't charge 2% ;)Indeed!

Thanks. Error corrected.

callum9999

zagfles wrote: »

0% on the interbank/Mastercard rate? Wonder what's in it for them?

The only thing I could think of was that it would encourage people to use their ATMs so they'd collect more fees (from your bank), but then it wasn't prominently advertised so who knows!

Maybe they just weren't set up properly when they got converted to offer DCC? I think we can rule out the bank just wanting to be nice!

purplestar133

YorkshireBoy wrote: »

I was in Lanzarote earlier this year (in fact I'm there every March) and, like the poster above, withdrew from a Santander ATM using my Metro card.

To me, the on-screen message was very clear. To paraphrase:

"Do you want us to do the conversion for a 2% fee, meaning the €100 withdrawal will cost you £88.21 (just an example!), or would you like your bank to do the conversion?"

Having gone to the trouble of getting the Clarity card/Metro Bank card/etc, and knowing there is no conversion fee, why on earth would you want to opt for the first option?

In short, just read (and understand) the message and rest easy!

Thanks for this. That is confusing, I'm glad you've mentioned it as it would panic me! Does it say it in English? Does it tell you specifically how much it would cost you - ie, as in your example £88.21 for a £100 euro withdrawal?

ManAtHome

Yep, very clear - see posts 10/11 above.

bignred05

just to add, on a slightly diferent note

if you have a Santander bank account, you can withdraw money from any Santander ATM (so long as your account is in credit) free of charge with your Santander debit card anywhere in Spain

you also get the bank exchange rate, which usually means 2 or 3 euros more the on the street exchange rate

Fleety

Caught out in Majorca TeleBanco - Clarity Card Cash Withdrawals. Wording on cash machines was misleading but my receipts said - "The cardholder has chosen not to use the Mastercard Currency Conversion Process", so I obviously got the question wrong!

I'm good with money & numbers - but I did not understand the question the cash machine was asking. I'm 99% certain it wasn't asking about paying in Euros & GBP as I know to opt for Euros. Also if it has asked whether I wanted to use the Mastercard Currency Conversion - I'd know how to answer that. Unfortunately I can't remember what the screen was asking. I'm wondering whether the screen wording was deliberately misleading - because the information on the receipt is perfectly clear!

Be forewarned - they are out to mislead you.
Take your time - darn those sunny screen reflections.
If anyone can post screen wording & correct answer that would be really helpful.
A warning on the main site Travel Money page would be helpful too