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Santander Zero credit card for ATM use in Spain
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NoodleDoodleMan
Posts: 4,261 Forumite

Has anybody experience of withdrawing currency from a Santander branded ATM in Spain or the Canaries using their Santander Zero credit card ?
The bank imposes no fees, however interest applies immediately as it is a cash advance.
It should be easy and quick enough using my smartphone to check out how much has been debited to the Zero card in GBP.
If I settle that up immediately does that limit the interest due to a minimum ? Does the interest show on the account balance on a daily basis if the currency FX amount is not settled, or does it only show when the statement is next published ?
I've never drawn cash on a credit card before, so this is all a learning scenario !!!
Admin - please move if this is the wrong forum.
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As long as the bank doesn't charge a cash withdrawal fee then there's nothing wrong with doing this. It has been the recommended way of doing it for a long time - initially using the Halifax Clarity card, but several cards now offer this "no-fee" service.In terms of interest, you're correct. If you pay off the withdrawal amount straight away, you'll save on the interest. Just be a little bit careful on timings - the withdrawal might not appear on your account immediately, you might need to wait until the next working day. If you make a payment before the transaction has been statemented, then your payment will go towards whatever else is on your account rather than the cash withdrawal. If you're able to check your transactions online then you should be able to make the payment at the appropriate time.Worst case, even if you wait until you get home to pay it off, the amount of interest will be fairly insignificant - assuming you're only over there for a week or two, and assuming you're not withdrawing thousands of pounds. For the average holiday-maker, even paying a week or two of interest is cheaper than the charges levied by most standard debit card withdrawals.2
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NoodleDoodleMan said:Has anybody experience of withdrawing currency from a Santander branded ATM in Spain or the Canaries using their Santander Zero credit card ?The bank imposes no fees, however interest applies immediately as it is a cash advance.It should be easy and quick enough using my smartphone to check out how much has been debited to the Zero card in GBP.If I settle that up immediately does that limit the interest due to a minimum ? Does the interest show on the account balance on a daily basis if the currency FX amount is not settled, or does it only show when the statement is next published ?I've never drawn cash on a credit card before, so this is all a learning scenario !!!Admin - please move if this is the wrong forum.Life in the slow lane1
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born_again said:
Just remember that is paying off straight away. (have to wait till it debits) You have to have a zero balance on card. If there is any debits from previous statement. It will go to pay that 1st.
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NoodleDoodleMan said:Has anybody experience of withdrawing currency from a Santander branded ATM in Spain or the Canaries using their Santander Zero credit card ?The bank imposes no fees, however interest applies immediately as it is a cash advance.It should be easy and quick enough using my smartphone to check out how much has been debited to the Zero card in GBP.If I settle that up immediately does that limit the interest due to a minimum ? Does the interest show on the account balance on a daily basis if the currency FX amount is not settled, or does it only show when the statement is next published ?I've never drawn cash on a credit card before, so this is all a learning scenario !!!Admin - please move if this is the wrong forum.1
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Thanks all - no fees of any type when used at a Santander branded hole in the wall in Spain and Canaries.I've noted the other points to avoid any dramas.0
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Santander seems to consistently need to be asked to refund any overpayment and on that basis I have overpaid in advance knowing that I would be doing cash withdrawals abroad. As others have said you do have to get your timings right if you are also using it to pay for meals out or whatever.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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Ebe_Scrooge said:born_again said:
Just remember that is paying off straight away. (have to wait till it debits) You have to have a zero balance on card. If there is any debits from previous statement. It will go to pay that 1st.
Life in the slow lane0 -
NoodleDoodleMan said:Thanks all - no fees of any type when used at a Santander branded hole in the wall in Spain and Canaries.I've noted the other points to avoid any dramas.0
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Deleted_User said:NoodleDoodleMan said:Thanks all - no fees of any type when used at a Santander branded hole in the wall in Spain and Canaries.I've noted the other points to avoid any dramas.I believe these were ATMs that Santander inherited from the failing Banco Popular in 2017 and subsequenlty rebranded................these should be OK to use now - I assume.It's easy enough to Google search for Santander branches in specific locations - for example we are off to Can Picafort in a few weeks time and I found details of the nearest branch and local ATMs.If in doubt, Santander holes in the wall at their branches are "originals" and good to use if you have a Santander UK debit card or Zero credit card.If you are charged a fee - Santander UK will reimburse - but keep your transaction receipts to quote dates, times and places etc.
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NoodleDoodleMan said:Deleted_User said:NoodleDoodleMan said:Thanks all - no fees of any type when used at a Santander branded hole in the wall in Spain and Canaries.I've noted the other points to avoid any dramas.I believe these were ATMs that Santander inherited from the failing Banco Popular in 2017 and subsequenlty rebranded................these should be OK to use now - I assume.It's easy enough to Google search for Santander branches in specific locations - for example we are off to Can Picafort in a few weeks time and I found details of the nearest branch and local ATMs.If in doubt, Santander holes in the wall at their branches are "originals" and good to use if you have a Santander UK debit card or Zero credit card.If you are charged a fee - Santander UK will reimburse - but keep your transaction receipts to quote dates, times and places etc.
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