Exchange in uk or use debit card

tracyk23

I was shocked at post office offering rate of 1.05 for euros if under £250. 

I only take 100 or so and use my virgin money debit card while abroad.
though I now need to return to PO to either put £300 cash into my virgin account or, since I’m there, get euros @ 1.12 ish.
i know won’t make much difference on such a small amount, but what rate would virgin money charge on spending in Spain. About the same?
No other forex close by.

Thanks

On-the-coast

simple googling of virgin money debit card says they don’t charge any fee for euro transactions. 
Exchange rate is “master card spot rate” - 1.167 today for example.
youll have to check for yourself about the cash withdrawal fee on that card

But in short you’ll save money by not using post iffice

Doshwaster

Just find a fee-free ATM in Spain to withdraw €100 there and use your card for everything else.

rolandka

tracyk23 said:

I was shocked at post office offering rate of 1.05 for euros if under £250. 

I only take 100 or so and use my virgin money debit card while abroad.
though I now need to return to PO to either put £300 cash into my virgin account or, since I’m there, get euros @ 1.12 ish.
i know won’t make much difference on such a small amount, but what rate would virgin money charge on spending in Spain. About the same?
No other forex close by.

Thanks

In short, you have to check the following:
- Virgin Money Withdrawal Fee Abroad: There is no fee as far as I can see on their website
- Virgin Money Foreign Currency Transaction Fee: There is no fee as far as I can see on their website
- Local Bank's ATM Withdrawal Fee

Some ATMs in Spain charge you extra for withdrawals with a foreign card.

I've just literally used Unicaja's ATM (Unicaja Banco). It didn't charge me an extra fee.

How do I check if the ATM charges a fee in Spain?

1. Switch to English (Idioma -> Inglés)
2. Insert Card (switch to)
3. Enter PIN
4. Try to take out €10 
5. There should be a popup/screen of a charge (€0.50 - €3) that you have to accept or click OK to continue. Press Cancel if there is a fee and your card won't be charged. 
6. Try to find a Bank that has no fee/screen to accept the fee.

The process might differ depending on the bank, but there should always be a screen displaying the fee that requires you to accept. It's important to distinguish this screen from the one prompting you to choose between your provider's rate or the local bank's exchange rate. In such cases, it's typically cheaper to select your provider's rate.

NoodleDoodleMan

"Some ATMs in Spain charge you extra for withdrawals with a foreign card."

Only a select very few now DON'T take a commission fee.

Banca Marche, unless there has been a recent change - and it may be a challenge to find one of their machines except in their core operating areas.

Unicaja as mentioned, although I've never used one.

Deutsche Bank were regularly flagged up as "user friendly" with no fee - however recent reports indicate a 4 Euro charge now being applied.

Branch located internal/external ATMs at Banco Santander only if you have a Santander UK debit card.

There may be others - but I'm unaware of them.

Incidentally - I wonder how may ATMs in Spain will allow a withdrawal of as little as 10 Euro ?

Banco Santander (our "go to" ATMs) only offer 40/70/120 Euro option - but that may be because it's a Santander UK card being used - and unlike Spanish customers, you can't select the choice of notes to be dispensed.

Best to select the 40 Euro option - or you'll get one or two 50's depending on how much is withdrawn.