Is changing cash now becoming the best MSE option?

zagfles

https://forums.moneysavingexpert.com/discussion/comment/82066906#Comment_82066906

EUR500 isn't a small amount, changing that much at a bad rate (typical UK high street BDC) could cost £20-30, changing it at a really bad rate (eg UK airport) could cost over £100. Buying forex in the UK is hardly ever a good idea.

martindow

https://forums.moneysavingexpert.com/discussion/comment/82066571#Comment_82066571

In France and Belgium one Euro is divided into 100 Centimes - the word is still used officially and colloquially. Swiss Francs are also divided into centimes. These are called Rappen in German speaking areas.

zagfles

https://forums.moneysavingexpert.com/discussion/comment/82067681#Comment_82067681

The PP mentioned FFR and the post was in English so using the French word for cents would be a bit odd. I suspect he's not been to France since 2002 🤣

NoodleDoodleMan

"Similar when I was in Spain."

Santander UK Everyday Current Account debit card is totally fee free when used for Euros at a fully branded Banco Santander branch (oficina) ATM.

Locations can be identified here - https://www.bancosantander.es/en/buscador-oficinas-cajeros

zagfles

https://forums.moneysavingexpert.com/discussion/comment/82068133#Comment_82068133

Good option if you travel to Spain frequently

NoodleDoodleMan

Indeed - and if there is a branch located ATM where you are staying - the standalone cajeros listed on website locator appear to be part of a linked network which has an agreement with Banco Santander for domestic BS card users.

I have still to try one to determine if it might be fee free for UK Santander customers.

NoodleDoodleMan

I now have clarity on Euro Automatic Cash ATMs in Spain in respect of UK Santander debit cards.

If you wish to obtain cash in Spain or the Canaries without incurring any ATM commission charges the best choice is a Santander UK Everyday Current account - the debit card is totally fee free when used at a Banco Santander oficina (branch) fully branded cajero (ATM).

Branches are located in nearly all popular tourist resorts - they can be found here.

https://www.bancosantander.es/en/buscador-oficinas-cajeros

A word of warning – avoid standalone Euro Automatic Cash machines which include the Banco Santander logo. They have an agreement for fee free transactions with partner bank customers, primarily Banco Santander.

Here is the reply from Santander UK to my enquiry.

The agreement for not charging commissions at ATMs for Santander UK customers extends only to Banco Santander’s own ATMs in Spain. Euro Automatic Cash (EAC) ATMs are not included.

 EAC is an independent and self-managed company, in which the bank has 50% and we cannot include these conditions.

The Everyday Current account is ideal, it has no unattractive strings attached such as Direct Debits or minimum monthly funding requirement.