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ATM’s
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Suessister
Posts: 3 Newbie

I think it needs more clarification from Martin that using a recognised credit card abroad ( e.g Barclays reward’) does not = no charges! I went to so many cash machines in Spain to get ‘free transaction’. They all charge! So what should we do? We are being ripped off by the banks. So realistically what is the cheapest option for obtaining foreign currency ?
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Suessister said:I think it needs more clarification from Martin that using a recognised credit card abroad ( e.g Barclays reward’) does not = no charges! I went to so many cash machines in Spain to get ‘free transaction’. They all charge! So what should we do? We are being ripped off by the banks. So realistically what is the cheapest option for obtaining foreign currency ?1
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"They all charge!"No they all don't.Most do though.Some more than others."If you do need cash from an ATM, here or abroad, you should use a debit card rather than a credit card - you'll be paying interest on the latter from the moment you take it out."The Barclaycard Reward credit card is the exception to the rule - providing you use a fee free ATM and settle the card balance in full when the monthly statement is due for payment.
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Suessister said:I went to so many cash machines in Spain to get ‘free transaction’. They all charge!Suessister said:So what should we do? [...] So realistically what is the cheapest option for obtaining foreign currency ?
https://www.moneysavingexpert.com/travel/cheap-travel-money/Suessister said:We are being ripped off by the banks.Suessister said:I think it needs more clarification from Martin that using a recognised credit card abroad ( e.g Barclays reward’) does not = no charges!Since Brexit, more and more overseas ATMs have started to charge (higher) fees, so do keep an eye out.0 -
Spain is one of the countries where most of the banks now charge for cash withdrawals for foreign customers. From memory Banca March and Deutsch Bank still don't.
Do you actually need cash? I've done a couple of foreign trips recently where I didn't touch any local currency. Always plenty of ATMs should I need cash in an emergency, and I'd just swallow the fee.1 -
Do you think banks get ATMs for free?
Do you think they dont run on electricity or that they get free electricity?
Do you think the person that fills it with cash, services it etc does it for love rather than salary?
How do you think the owner of the ATM is being funded for providing that machine for your use in Spain?
The UK is in the minority that most banking services are free to personal lines customers. In most the rest of the world you have to pay for the services you use.
For Spain and its prior colonies its generally best to use the Santander card and use it in Santander ATMs that are at bank branches as they dont charge their own customers... they do however charge non-spanish customers if they use off site ATMs1 -
As DGG says - for currency a Santander UK debit card used at a fully branded Banco Santander ATM in Spain & Canaries is the best option.Ironically (maybe not ?) the worst deal is a Banco Santander machine with a non Santander card - I think it's 7 Euro fee per transaction.Euronet ATMs are also to be avoided.Banco March and Deutsche Bank are still fee free.I think the OP has gone off on a mini rant without being aware of the full picture.0
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The cards such as Barclaycard Rewards are 'foreign exchange' fee free. i.e. the card provider does not charge for withdrawing cash abroad.
An ATM useage fee is a local charge and nothing to do with the card issuer or Forex fees as everyone pays.
On any Foreign visit first option is to pay by card if possible.0 -
"On any Foreign visit first option is to pay by card if possible."As long as the card is fee free for such transactions.0
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NoodleDoodleMan said:"On any Foreign visit first option is to pay by card if possible."As long as the card is fee free for such transactions.0
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Indeed, ATM and card fees are variable.
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