Non-Surcharge ATMs on Madeira?

Geoff_W

Does anyone happen to know whether there are any free ATMs in Funchal, Madeira?

I have a Nationwide cashcard which doesn't charge a fee for cash withdrawals, but many overseas banks' ATMs do charge. I note that in Funchal, Banco Portuges Do Atlanti seems to have the place stitched up, so I assume they will make a charge as there is no competition!

Geoff

Barter

We've been to Funchal twice, & also have a Nationwide debit card. As I remember, we used the card in a few different banks ATM's & had no charges applied. Given a bit of time, I could probably look at back statements to see which banks we used, if you want.

dzug

Geoff_W wrote: »

, but many overseas banks' ATMs do charge.!

Geoff

They shouldn't. It's visa or mastercard rules which apply (= no charges for overseas cards) unless there are local competition laws saying they can't enforce such a rule

Not to say they won't - I wasn't when in Madeira but that was some years ago

alanrowell

Geoff_W wrote: »

but many overseas banks' ATMs do charge.

Can't think of any European destination where generally a charge for using the ATM is imposed by the ATM owner

Off hand I can only think of the US where it is common

Geoff_W

Thanks all, that's very reassuring.

I know of someone who got stung for a charge in Seville, Spain. At the point the ATM informed them there was going to be a charge, it refused to let them back out of the transaction, so they were well and truly stuffed!

In Australia & New Zealand I know from personal experience that ANZ Bank don't charge.

Geoff

dzug

You still need to avoid ATMs in places like convenience stores and petrol stations - these can legitimately charge you.

moonrakerz

dzug wrote: »

You still need to avoid ATMs in places like convenience stores and petrol stations - these can legitimately charge you.

Any ATM can "legitimately" charge you if the owner of the machine so wishes.

dzug

moonrakerz wrote: »

Any ATM can "legitimately" charge you if the owner of the machine so wishes.

No - a bank machine that is under visa/mastercard 'management' is prohibited from doing so by the contract with V/MC. If they then go on to charge you it's not entirely legitimate, though I've no doubt it happens in some areas

moonrakerz

dzug wrote: »

No - a bank machine that is under visa/mastercard 'management' is prohibited from doing so by the contract with V/MC. If they then go on to charge you it's not entirely legitimate, though I've no doubt it happens in some areas

I have seen plenty of ATMs in the USA with the Visa/MCard logos which do charge a fee. Practically all ATMs in Australia charge non-customers a fee.
Also, if you remember, it wasn't all that long ago that all the UK banks and Building Societies were going to charge all non-customers a fee to use their ATMs.

I fail to see what Visa and MCard have got to do with an ATM belonging to a financial institution issuing cash to people if it is on a debit/cash card. I can see their involvement for a credit card transaction, but nothing else.
The machines belong to the institution, they put the money into it, Visa & MCard have no input at all to any charges;
Could I quote from the Mastercard website:

"ATM fees are not determined by MasterCard Worldwide. Any ATM fees charged by the ATM owner are disclosed at the time the transaction is initiated. Cardholders are given the option to discontinue the transaction if they do not wish to pay these fees. Additionally, be sure to check with the financial institution that issued your card to determine their ATM fee policies. You will find their contact information on the back of your MasterCard card and/or on your billing statement. Or you can visit the issuer's Web site to manage your account online."

dzug

moonrakerz wrote: »

I have seen plenty of ATMs in the USA with the Visa/MCard logos which do charge a fee.

Many US states have passed 'anti-competitive' laws prohibiting Visa etc from enforcing the no-fee rule.

moonrakerz

dzug wrote: »

Many US states have passed 'anti-competitive' laws prohibiting Visa etc from enforcing the no-fee rule.

I quote again:
"ATM fees are not determined by MasterCard Worldwide."

Fees, or lack of them, are nothing to do with Visa or Mastercard, it is down to the owner of the ATM..