I live in Portugal and have withdrawn funds from my US credit union account. To get your best rates, use Multibanco machines only. You will have to reject the conversion (terrible rates!) twice, and it's disconcerting at first, as it feels like you're cancelling the transaction, but persevere. To reduce fees on your home bank's end, avoid taking out small amounts - MB's limit per transaction is 200 euros, so go ahead and take that much, your home bank will only charge one transaction fee.
Definitely DON’T use a credit card at a machine for cash. Not in Australia nor anywhere really unless it’s a dire emergency and you desperately have no other means of getting cash. Credit cards (at least in Australia ) have always started charging interest immediately on cash advances.
Use the wise debit card you’ve ordered (I have never used Wise but reading forum it appears quite a few people are happy with it ) like you would in Australia - for purchases / places that will take it like hotels, shops etc. Some smaller operators have moved over to accepting cards . You could carry your oz credit card with you as a backup in case you have an emergency.
I carry some euros starting out and when my supply is low., I go to the wall machines at banks overseas (preferably during the day when the bank is open)..and withdraw euros.
You will always find bad news if you look for it but you just need to be careful and be sure of where you make withdrawals.
Ask Hospitalero/as, to help you to choose which bank is best if you’re concerned. I’ve never found the camino a scary place in regards to scams. Just be more careful in crowded places like airports and cities but just like you would at home. It can happen in Australia too.
Preferably have enough with you initially., so that you don’t need to find a place to exchange at the airport on arrival or in first day or so., so you’re not rushed.
Note that as well as any fees your wise card (if any charges).. you will have to pay a withdrawal fee at the machine for each time you take cash. They vary in the fee charged.
I don’t have (yet) one of those magical cards supplied by certain banks that refund all the withdrawal fees. Maybe the Wise card does?
Good luck - try not to worry ..
Just make sure you protect your valuables; know where they are at all times.
Edit: with regards to the ‘reject currency thing’. I haven’t had that problem in many caminos but sometimes if I’m offering the card at hotel etc. I would be clear to them and say : ‘please charge in euros ‘.
The card I carry is in euros prepurchased. Whenever I withdraw cash euros at machine / it always dispenses in euros so I’m not the best person the advise on this -
Ps. I have been told that if you are in a shop etc and using your debit card you can sometimes ask for euros (cash ) as well ; added to the purchase sum (like you can do at supermarket in Oz at checkout ) - thus avoiding the machine fee. I haven’t tried it myself.
I reckon I have it all sorted . I have signed up for Wise, Ubank, Upbank (my son got me into this and looks really good), as well as Revolut. All in my Apple Wallet and cards in the mail to me. Between these cards I am covered for ATM withdrawals and will use my credit card for everything else. Thanks for all the wonderful advice, understanding and humour.