How much cash to bring?

[Varekai]

I did a search in this sub-forum but couldn't find anything recent. How much cash should I bring for the Ingles? All of my pre-booked accommodations except one accept credit card. That one place charges 30 euros. I'm going to guess that most dining places along the camino take card with some smaller, more remote places being cash only. Food should be my only expense while I'm walking, so do you think 200 euros (170 after subtracting that one hotel) on hand will be enough for the five day walk?

 

[J Willhaus]

I would just go to an ATM when you arrive. If you are just 1 person, 200 euros is probably fine. If you need more, there will be banks along the way or in Santiago.

 

[Varekai]

I would just go to an ATM when you arrive. If you are just 1 person, 200 euros is probably fine. If you need more, there will be banks along the way or in Santiago.

Thanks. My bank only allows two free ATM withdrawals a month, so I need to pace that accordingly on my trip.

 

[J Willhaus]

Thanks. My bank only allows two free ATM withdrawals a month, so I need to pace that accordingly on my trip.

OK, just think about that when you pay for something and budget accordingly. If they will take a card, then maybe use a card. Some places won't take a card for smaller amounts and have a minimum requirement. It sounds like that is what you will use your cash for mainly. Even grocery stores will accept a card. If you are concerned, then get 300 euros or 250 or something.

 

[trecile]

I bring whatever amount of Euros that I have left over from my last trip (currently about 60 Euros), then I withdraw Euros from ATMs as necessary.

 

[Peterexpatkiwi]

@Varekai , yes I think 200 Euros will be more than sufficient. I walked the Inglés in April last year. I used my card whenever possible, and believe I spent 130 euros in cash. I know I started with 200 and came back with quite a bit (I don't remember exactly because I'm a European resident so that's all that's in my wallet!).

It's a lovely camino, enjoy

 

[dougfitz]

Thanks. My bank only allows two free ATM withdrawals a month, so I need to pace that accordingly on my trip.

I find it's a balancing act, and I still tend to withdraw a little more than I need to avoid having to visit an ATM too often. I have to remind myself that these fees are relatively quite small in the overall costs of travelling.

 

[JabbaPapa]

200 Euros sounds OK, and if not, then one extra withdrawal would almost certainly be enough.

 

[TravellingMan22]

As others have intimated you don’t too much ! The growth of card payment (min Spain and contactless within that), and decline in cash payment has been quite significant, in what is a highly ‘banked’ population,

A few places don’t take cash, some have minimum payments, so always need some of course, so manage that within your allowances. Remember Spain and nearly all Europe, and USA for that matter, change a transaction fee rather than a percentage which some other countries to use.

 

[Grousedoctor]

As the Ingles is a relatively short Camino of 5 days, I agree with others above that 1) your €200 should be enough, and 2) if you were to run short, you wouldn’t have to do more than one ATM withdrawal. Enjoy your Camino. It’s a wonderful route.

 

[JabbaPapa]

Come to think of it -- given the €30 cash you know you'll need, and maybe food there could be cash only too, maybe start with €250 ?

 

[t2andreo]

Considering the overall expense of your Camino, wouldn't it be reasonable to shoulder the additional costs of a few extra ATM withdrawals? As others have pointed out, you may be confronted with places that make you tap or swipe your card, instead of taking cash. If this happens, you wil hit your two free uses per moth very fast.

Try to see the big picture.

Hope this helps.

Tom

 

[Peterexpatkiwi]

Come to think of it -- given the €30 cash you know you'll need, and maybe food there could be cash only too, maybe start with €250 ?

Bearing in mind that the OP doesn't need cash for most accommodation, & only needs cash for the few occasions that they can't use a card I think that'd be excessive. It's only 5 days! On my 2 weeks on the Primitivo in July last year I didn't even manage to spend €200 in cash, and that included three nights accommodation (€85). And as I said above I only spent roughly €130 on the Inglés last year (some of which I could easily have carded).
Most purchases over 10 Euros I paid for with my card, and everything in supermarkets.

 

[Peterexpatkiwi]

Considering the overall expense of your Camino, wouldn't it be reasonable to shoulder the additional costs of a few extra ATM withdrawals? As others have pointed out, you may be confronted with places that make you tap or swipe your card, instead of taking cash. If this happens, you wil hit your two free uses per moth very fast.

Try to see the big picture.

Hope this helps.

Tom

Tapping or swiping your card costs nothing, it's only the ATM withdrawals.

 

[J Willhaus]

I always try to pay in cash because I know there is an upcharge to the vendor for a card.

 

[t2andreo]

Tapping or swiping your card costs nothing, it's only the ATM withdrawals.

Then I stand corrected. Thanks for the assist.

 

[TravellingMan22]

It strikes me that folks view on whether to pay by cash or card is governed by their country of origin rather than what works in Spain! Spain is a highly progressive country that has invested millions in digital payment and is really putting them on the front foot economically. It’s hugely important! If anyone really thinks that organisations who only take cash have lower ‘cost of sale’ overheads than those than work in digital payments… well! I struggle to imagine that folks think that manual payments are cheaper for all parties than digital payments. That’s really not the direction on travel!

I have just returned from a cash economy (Colombia) to a digital economy (UK) and the speed and efficiency difference is amazing. I actually had to get some cash out in UK yesterday as my barber only takes card and my intended £10 withdrawal ended up as £30 by mistake. Many places won’t cash so I was lucky to have the option to map the money back into a bank.

Try and support Spain here you can - this is a big deal to them!

 

[Peterexpatkiwi]

@TravellingMan22 , I agree.

Yes Spain, as with many other countries, used to be a cash society - and in some smaller villages it's still very much is. However as we have discussed here numerous times on the forum COVID changed all of that. Or, perhaps more to the point, increased the speed at which that change was already happening.

Yes, there are costs to a business associated with accepting cards. Those costs have decreased significantly, which has increased acceptance.There are also significant benefits. Hence why so many small businesses in Spain now also accept cards.

There are also costs - and significant risk - to handling cash.

A business would not offer a facility if it did not make economic sense to them. Which is why in some cases they set a lower limit (often €10, occasionally €30 - which is the point in Spain that they legally must offer an alternative method of payment)

Regardless of which method you choose to use those costs are built into the price that you pay.

I have mentioned on a previous thread that I had a conversation with a cafe owner on the Primitivo last year. He told me it was definitely preferable for him to do the majority of his transactions as card, as all of his payments (to his staff, suppliers etc) were electronic. There was no bank in the village and it meant he didn't have to regularly leave town to do his banking. It also made it significantly easier from a tax perspective. Let alone the time-savings. And, as is often said in business - time is money.

Plus of course it improves security - less chance of theft, whether by staff or outsiders.

Personally I always try to have at least a little cash on me - if for no other reason than to be able to give somebody a tip if I feel like it!

 

[Telboyo]

I always try to pay in cash because I know there is an upcharge to the vendor for a card.

I dont't know if that is a real problem, I run a small business and I only pay 1.35% transaction fee, taking cash to bank tcosts a lot more than that. At minimum wage it would probably cost half an hour to bank £600. A small business probably takes less than that a day.

 

[J Willhaus]

I dont't know if that is a real problem, I run a small business and I only pay 1.35% transaction fee, taking cash to bank tcosts a lot more than that. At minimum wage it would probably cost half an hour to bank £600. A small business probably takes less than that a day.

Thanks for that. Possibly different in different countries. My parents paid 5% in their business so always gave a cash discount. Does anyone know the uncharged in Spain? Might help me feel better about cash versus card.

 

[TravellingMan22]

Thanks for that. Possibly different in different countries. My parents paid 5% in their business so always gave a cash discount. Does anyone know the uncharged in Spain? Might help me feel better about cash versus card.

There is quite a bit online about strategies Spanish banks have used to sign up business customers and talks about competitive rates and often mentions 1-2% even for he smallest operators with very small turnovers.

I guess it comes down to how your compare your cost of sale cash vs card. How you measure fraud, theft, time taken to cash money, offering change, etc. I struggle to see how even a 2% rate on a card wouldn’t be beneficial to most business rather then cash.

I know people mean well, but it’s same sort of debate with online bookings. People seem suprised and even unhappy about the fact that they charge a fee, for offering a global reach, payments systems, advertising, reviews etc.

Let’s remember that vendors sign up for this. I do understand that there is an element of ‘me too’ and you have to be in the game but i think we just need to let them manage their businesses!

 

[J Willhaus]

I volunteer for a cash only donativo cash network in Spain, so hope people will remember when it comes to having some cash. I will do me and you do you. It is a parallel universe on the Camino from the private systems.

 

[TravellingMan22]

I volunteer for a cash only donativo cash network in Spain, so hope people will remember when it comes to having some cash. I will do me and you do you.

That’s fine of course. People can do what they want. If you are cash only there’s no issue! Just talking the bigger world. Of course if you are a volunteer cash will possibly be cheaper as it is zero costs for your services!!

 

[Scoutbuff]

My wife and I are traveling back to the US today from Spain (no camino this trip). I was surprised with the widespread use of tap payment literally everywhere for all amounts. On the occasions where I presented cash, that seemed to surprise the cashier/host. (fwiw)

 

[Molly Cassidy]

There is quite a bit online about strategies Spanish banks have used to sign up business customers and talks about competitive rates and often mentions 1-2% even for he smallest operators with very small turnovers.

I guess it comes down to how your compare your cost of sale cash vs card. How you measure fraud, theft, time taken to cash money, offering change, etc. I struggle to see how even a 2% rate on a card wouldn’t be beneficial to most business rather then cash.

I know people mean well, but it’s same sort of debate with online bookings. People seem suprised and even unhappy about the fact that they charge a fee, for offering a global reach, payments systems, advertising, reviews etc.

Let’s remember that vendors sign up for this. I do understand that there is an element of ‘me too’ and you have to be in the game but i think we just need to let them manage their businesses!

I think there used to be a minimum charge per transaction (somewhere between 10-15c.) which made it prohibitively expensive to take cards for small value transactions. So you might pay 2 or 3% on a €10 transaction but 10% or more on a €1 payment. That's generally the reason for the minimum transaction rule. I'm not sure if that has changed.

 

[Peterexpatkiwi]

I think there used to be a minimum charge per transaction (somewhere between 10-15c.) which made it prohibitively expensive to take cards for small value transactions. So you might pay 2 or 3% on a €10 transaction but 10% or more on a €1 payment. That's generally the reason for the minimum transaction rule. I'm not sure if that has changed.

Indeed.
As usual when you are talking about banks it varies from one to the other. BBVA advertise a minimum fee of 10 cents, whereas Caixa Rural Trust for example advertise no minimum fee.

It does of course also vary on the size of your business. As usual the small businesses pay the most, the bigger you are the less you pay. (Cash handling costs to both merchant and bank are very high, hence why banks are keen to encourage electronic payment)

There are of course a huge number of variables that come into play, as is often the case with bank fees. For example the credit card supplier - some charge the retailer significantly more than others. Whether the transaction is CP ( Card present)or CNP ( card not present/eg online). The later of course involving a much higher risk, hence a higher cost. The list goes on.

It would be interesting to hear from someone with a business in Spain (or at least with a friend who is a Spanish business owner). @Rebekah Scott perhaps?

 

[WGroleau]

Considering the overall expense of your Camino, wouldn't it be reasonable to shoulder the additional costs of a few extra ATM withdrawals? As others have pointed out, you may be confronted with places that make you tap or swipe your card, instead of taking cash. If this happens, you wil hit your two free uses per moth very fast.

I recommend to anyone traveling to have debit or credit cards from two different banks, and at least one of them should be one of those banks that reimburses all ATM fees. Also, when you use a card for payment make your payment in local currency. Your bank will give you a better exchange rate than their bank will.

 

[trecile]

and at least one of them should be one of those banks that reimburses all ATM fees.

Such a card is not available in every country.

 

[cha200]

200 sounds like a reasonable amount for the Ingles. I paid cash at albergues and some dining, but used my card for grocery stores and everything else. I walked it in 4 days (some do it in 3), so you may not need 5 days of money.