Cheapest Ways for Cash & Spending in Spain
Options
jimjames
Posts: 17,621 Forumite
After seeing the thread below about the Clarity card I thought it might be useful to outline my recent experience in Spain for currency conversion and spending. These rates relate to situation in early November 2021.
I took cash with me that was lying in a drawer at home and have the Halifax Clarity credit card as well as a Santander current account with debit card. Other cards used were Lloyds Visa debit and Virgin Money debit mastercard as comparison.
On the whole the vast majority of places accepted contactless payments, even small food stalls in the market were requesting contactless rather than cash so I suspect that Covid19 has pushed them in that direction. As such I didn't really need much cash at all but to test out the Santander rates I drew 20 Euros from one of their cash machines. I was a bit surprised to be offered the option to have the transaction in sterling at a very poor exchange rate (1.13 to £) but declined the kind offer and took it as Euros. So that's something to be aware of if you use a Santander machine as it may catch you out.
Overall rates were virtually identical for the cash from Santander and credit card payments on Clarity. Rates shown are the bill amount in Euros divided by amount on statement so include all charges and fees
Santander rate: 1.174 to £1 (cash drawn from ATM later in trip)
Halifax Clarity range: 1.174-1.1798 to £1 (highest was 1.1798 on my first day before BoE announced rates not changing)
Virgin Money: 1.175 to £1
Lloyds debit: TBC
I took cash with me that was lying in a drawer at home and have the Halifax Clarity credit card as well as a Santander current account with debit card. Other cards used were Lloyds Visa debit and Virgin Money debit mastercard as comparison.
On the whole the vast majority of places accepted contactless payments, even small food stalls in the market were requesting contactless rather than cash so I suspect that Covid19 has pushed them in that direction. As such I didn't really need much cash at all but to test out the Santander rates I drew 20 Euros from one of their cash machines. I was a bit surprised to be offered the option to have the transaction in sterling at a very poor exchange rate (1.13 to £) but declined the kind offer and took it as Euros. So that's something to be aware of if you use a Santander machine as it may catch you out.
Overall rates were virtually identical for the cash from Santander and credit card payments on Clarity. Rates shown are the bill amount in Euros divided by amount on statement so include all charges and fees
Santander rate: 1.174 to £1 (cash drawn from ATM later in trip)
Halifax Clarity range: 1.174-1.1798 to £1 (highest was 1.1798 on my first day before BoE announced rates not changing)
Virgin Money: 1.175 to £1
Lloyds debit: TBC
Remember the saying: if it looks too good to be true it almost certainly is.
1
Comments
-
Thanks for this as I am going to Spain later this month and have a Santander debit card as well as a Halifax clarity card.I have been stung in the past where it offers you sterling conversion at the Santander machine so am always wary now and think it through before selecting.0
-
Any hole in the wall I've used in Spain offers the choice to settle in Sterling - that's their preferred default option AFAIK as it's better deal for the ATM bank.Not just Santander.1
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608.1K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards