Stephanie Martin
New Member
- Time of past OR future Camino
- Camino in Sept/Oct/Nov 2022 (via the French route)
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Cash machines (ATMs) are multi-lingual; including EnglishHi all,
I'm wondering if the money withdrawing machines in Spain have English words too? Also, when using card to make transactions at the pharmacy etc., what are the words/word to select before keying in a pincode. For eg., in NZ, we usually have the options of 'Cheque' or 'Savings' to make payment with, before we enter the next screen for the code. Thank you.
I get asked the Checking account/Savings account question at the ATM here in Greece, but I haven't come across in in shops.Cash machines (ATMs) are multi-lingual; including English
I’m not familiar with the cheque/savings option, but someone will be along shortly.
Always elect to pay in euros not your home currency.
The ATM’s in Spain normally offer the native language of the card automatically. You will not have a problem.Hi all,
I'm wondering if the money withdrawing machines in Spain have English words too? Also, when using card to make transactions at the pharmacy etc., what are the words/word to select before keying in a pincode. For eg., in NZ, we usually have the options of 'Cheque' or 'Savings' to make payment with, before we enter the next screen for the code. Thank you.
Hi Steph, hopefully you will carry a debit or credit card rather than a Kiwi EFTPOS card. You can't use an EFTPOS card in any other country unless it has a Visa or MasterCard logo on it.Hi all,
I'm wondering if the money withdrawing machines in Spain have English words too? Also, when using card to make transactions at the pharmacy etc., what are the words/word to select before keying in a pincode. For eg., in NZ, we usually have the options of 'Cheque' or 'Savings' to make payment with, before we enter the next screen for the code. Thank you.
This is a bad photo, but it was taken at a bank machine in Spain when I was using a Canadian debit card. It did ask me!You won't be asked about Savings and Cheque overseas.
Yoohoo! First prize. This is available when collected in person.This is a bad photo, but it was taken at a bank machine in Spain when I was using a Canadian debit card. It did ask me!
I have noticed that I'm not usually given the choice of checking or savings account, but that "current" account is the correct choice.This is a bad photo, but it was taken at a bank machine in Spain when I was using a Canadian debit card. It did ask me!
But what if I prefer to withdraw from the savings account? I took the photo because I was trying to do that and it kept coming from the chequing account. When I got home, my bank said that my newer (savings) account wasn't set up right. They presumably fixed it, but I'll need to wait until next year to confirm.that "current" account is the correct choice.
I should have said that "current" account takes the money from my checking account.But what if I prefer to withdraw from the savings account? I took the photo because I was trying to do that and it kept coming from the chequing account. When I got home, my bank said that my newer (savings) account wasn't set up right. They presumably fixed it, but I'll need to wait until next year to confirm.
Yes, in the UK and Ireland we call it a Current Account.I should have said that "current" account takes the money from my checking account.
Are you talking about using your phone to pay at point of sale or withdrawing cash from ATMs?Before I left I set Gpay up on my phone and just used that the entire time. I didn't have to insert a card ever. This was seriously one of the most convenient things I have done.
Contactless(paywave) is wide spread and the terminals won't ask which account you want to use.
Phone at the point of sale. It is basically turned into a contactless credit card.Are you talking about using your phone to pay at point of sale or withdrawing cash from ATMs?
Stephanie, my tuppence worth...Hi all,
I'm wondering if the money withdrawing machines in Spain have English words too? Also, when using card to make transactions at the pharmacy etc., what are the words/word to select before keying in a pincode. For eg., in NZ, we usually have the options of 'Cheque' or 'Savings' to make payment with, before we enter the next screen for the code. Thank you.
Retailers, shops, bars, restaurants, will not apply a transaction fee. Their costs are already included in the retail price. You may encounter a fee when withdrawing cash from an ATM. Someone has to pay to keep the shareholders and pension funds happy.Just wondering.. if there is a transaction fee on foreign debit cards by the retailers in Portugal/Spain. My bank told me that there is no fee charged by my local bank when using their debit card. Just wondering about the other party...
So much variance around. For UK folks some UK banks charge a fee for EU transactions, ATM and retail, typically 2.99%, and some don’t so get a card which doesn’t. Monzo, Metro for example. Transaction fees charged by Spanish backs vary. Many charge, some don’t. €7 seems to be median average. Spent most of last two years in Spain and banks seems to change rates a lot. Currently use Deutsche Bank who don’t charge fees at ‘point of sale’ but they largely operate in the big cities rather than small towns.Retailers, shops, bars, restaurants, will not apply a transaction fee. Their costs are already included in the retail price. You may encounter a fee when withdrawing cash from an ATM. Someone has to pay to keep the shareholders and pension funds happy.
This is virtually everywhere in Spain now! I get offered Euros vs GBP at 1.12 at retailers/ATMs and the spot rate is 1.18. Pound had a good run versus the Euro last cpuple of years so don’t miss out!!You won’t encounter surcharges at retail points of sale but you will see “direct currency conversion”. This is when the POS offers the choice of euros or your card’s home currency.
Always choose euros! There is a huge markup hidden in the exchange rate, upwards of 9%.
They hide their fees in the exchange rate that they use.My bank told me that there is no fee charged by my local bank when using their debit card.
Well when I asked them, they said they'll charge according to the visa/mastercard rate. No additional fee (credit cards will have a 2% charge). Hope its as true as they say. Will have to test it out when I get there. I'm from Malaysia btw.They hide their fees in the exchange rate that they use.
And then your bank will also do a conversion, so you get hit up with double conversion fees.You won’t encounter surcharges at retail points of sale but you will see “direct currency conversion”. This is when the POS offers the choice of euros or your card’s home currency.
Always choose euros! There is a huge markup hidden in the exchange rate, upwards of 9%.
Try both methods to test it, but as someone who has tested this a lot - it has always been 1-3% more expensive using my native currencyWell when I asked them, they said they'll charge according to the visa/mastercard rate. No additional fee (credit cards will have a 2% charge). Hope its as true as they say. Will have to test it out when I get there. I'm from Malaysia btw.
Ah they do recommend charging in Euro. What I meant was that using a credit card there will be a transaction feed of 2% (or much higher when using a credit card to withdraw money at the atm) but no fee with the debit card when using at retail stores (and a flatrate of something less than €3 at atms)Try both methods to test it, but as someone who has tested this a lot - it has always been 1-3% more expensive using my native currency
Ohhh gotcha, yeah agreedAh they do recommend charging in Euro. What I meant was that using a credit card there will be a transaction feed of 2% (or much higher when using a credit card to withdraw money at the atm) but no fee with the debit card when using at retail stores (and a flatrate of something less than €3 at atms)
Hey, HenrythedogCash machines (ATMs) are multi-lingual; including English
I’m not familiar with the cheque/savings option, but someone will be along shortly.
Always elect to pay in euros not your home currency.
Here's an article that explains thingsHey, Henrythedog
I have seen this suggestion of choosing euros instead of home currency. I wonder if you will tell me why--my little brain says it makes more sense for me to choose the US $ since I know exactly what I will be charged. If I choose euros, then (I am told) the exchange rate is not what is happening at the moment I purchase, but whatever the rate is when it goes through the vagaries of bank transactions (even though in this digital age such things are pretty much instantaneous). My sense is you are correct because a few years ago at a pension the owner practically cheered when I chose US dollars which I interpret as giving him more money. I just don't inderstand how.
Simply put, they ATM gives you a worse exchange rate than whatever your bank does. They profit from it. And your bank may still end up charging you a fee for using a foreign ATM. So the cheapest option is to just choose the local currency - so the ATM bank doesn't get any cut, and your own bank just takes their standard amount.Hey, Henrythedog
I have seen this suggestion of choosing euros instead of home currency. I wonder if you will tell me why--my little brain says it makes more sense for me to choose the US $ since I know exactly what I will be charged. If I choose euros, then (I am told) the exchange rate is not what is happening at the moment I purchase, but whatever the rate is when it goes through the vagaries of bank transactions (even though in this digital age such things are pretty much instantaneous). My sense is you are correct because a few years ago at a pension the owner practically cheered when I chose US dollars which I interpret as giving him more money. I just don't inderstand how.
Indeed, don’t think because the fee is low or there is no charge that you are getting a better deal. They may be charging you a much higher exchange rate for non europeanunion transactions.They hide their fees in the exchange rate that they use.
The bank ATMs at the airport should charge the same fees as those in town. Don't use machines that say "currency exchange" or similar.Arriving in Madrid on Sept. 13th. Is there an ATM with reasonable fees at the airport ?
The technical term is “direct currency conversion” and it allows the merchant’s bank or whichever bank operates the ATM to hide an obscene markup in the exchange rate, upwards of 9%.Hey, Henrythedog
I have seen this suggestion of choosing euros instead of home currency. I wonder if you will tell me why--my little brain says it makes more sense for me to choose the US $ since I know exactly what I will be charged. If I choose euros, then (I am told) the exchange rate is not what is happening at the moment I purchase, but whatever the rate is when it goes through the vagaries of bank transactions (even though in this digital age such things are pretty much instantaneous). My sense is you are correct because a few years ago at a pension the owner practically cheered when I chose US dollars which I interpret as giving him more money. I just don't inderstand how.
From a UK cardholder standpoint, most of the major Spanish banks are charging €6 or €7 per transaction irrespective of location and irrespective of withdrawal level. I assume other nationalities are same. Have been using Deutsche Bank last couple of months in Valencia which is ‘fee free’, comparable rate, and has very clear instructions when the EUR/GBP conversation rate is offered. They quote the mark up rate which I think is 2.5% Obv always press EUR! Don’t think there is one at airport but if you can get into Madrid without using cash you should find on there.The bank ATMs at the airport should charge the same fees as those in town. Don't use machines that say "currency exchange" or similar.
Here's a list of ATMs at the airport.
Banks and ATMs | Madrid-Barajas Airport | Aena
Find out all the information about the location of branches and ATMs at Adolfo Suárez Madrid-Barajas Airport. All the info at the Aena website!www.aena.es
I have heard that the Euronet ATMs charge higher fees (not just at the airport, but everywhere)
I answered on your thread - yes, @ivar runs a luggage storage business in Santiago.Has anyone used luggage storage in Santiago ? We want to leave a luggage in Santiago and retrieve it at the end of our Camino.
Thanks for explaining!The technical term is “direct currency conversion” and it allows the merchant’s bank or whichever bank operates the ATM to hide an obscene markup in the exchange rate, upwards of 9%.
If you charge in euros, the currency conversion will be much closer to the interbank rate which is the best there is.
This morning I withdrew 80 euros from my Schwab checking account and it came it $80.29.
I believe that it's dynamic currency conversion.The technical term is “direct currency conversion” and it allows the merchant’s bank or whichever bank operates the ATM to hide an obscene markup in the exchange rate, upwards of 9%.
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