Cash, Credit, ATMs?

[Roamin' Rob]

How high are the ATM fees? I've heard $5 + 3% charged by the ATM provider (my US bank said THEY will not charge me a fee). I will be paying for myself and my two daughters from Leon to Santiago so think I'll need lots of Euros for food and shelter. Do many placed along the Camino Frances accept credit cards?

 

[Anniesantiago]

You better triple check with US Bank.
I bet they WILL be charging you exchange rate fees.

You might want to check into a Charles Schwab online bank account for your travel money.
They reimburse ALL fees (including exchange rate and all ATM fees) at the end of each month - and that way you can keep your travel cash separate from your regular bank account.

Larger private hostels and hotels take credit cards, but most places want cash.
I suggest you do NOT take American Express.
It was the card most turned down on all of my Camino trips.
I no longer bother taking it.
VISA ranks first in my travels, with Master Card second.

Nearly all small bars and restaurants will want cash unless in large cities.

ATMs are available all along the Camino.
I usually take out €200-300 and that lasts me a couple of weeks.

 

[Fritz]

My experience is similar to Annie. If you have PayPal, another option it to get one of their debit cards. I looked today and the fee is $1.50 per withdrawal and

"1%; Per purchase from a non-US merchant or use at a non-US ATM. This fee will apply even if the transaction does not require a currency conversion."

On my camino, I took both my PayPal and my bank's Visa debit card as a back-up in case of any trouble. Also, tell your bank card issuer that you will be traveling so they note your account for any security risks. Unusual foreign activity sometimes triggers a card lock out.

I had an odd mishap in Zubiri with an ATM that malfunctioned and didn't disperse cash, but deducted the money from my account. It was immediately put back in the account by PayPal once I was able to make a phone call back to the US -- but I was glad to have a second card just in case of any future trouble.

 

[Anniesantiago]

Oh yes. Another rule. NEVER take cash from the ATM on a weekend day or holiday just in case your card gets eaten

 

[LeAnn Blackert]

I just finished the Camino and Annie says it best. This is exactly what I found along the way. And my bank also charged me $5 for each withdrawal. Not every bank accepted my debit card. One day it took three tries. I learned which bank to look for after that. Just be sure to keep track of the denials if you find it happens.

 

[MickPetz]

It is definitely possible that your fees may be waved (that is the case for debit card I will be using). I'm sure you've heard it many time already, but cash is king on the Camino. It should be noted that I'm still bringing an international credit card as backup.

Here are two good sites for finding more information on internal bank cards from the US: 1) Nerd Wallet & 2) Point Guys.

 

[Roamin' Rob]

Thanks all. I meant to say my bank in the US, its not actually US Bank. I like to Schwab idea. ATM fees can add up.

 

[CaptBuddy]

I have a VISA and an AMX both linked to my checking account. Neither charges usage/ATM transaction fees for any overseas use (non-US). Exchange rate conversion fee still applies.

 

[Kuznitz]

I would just second LeAnn's warning about ATM denials. We just returned from a non-Camino visit to Spain and our ATM card was denied roughly two out of three times and we were largely in major cities (such as Barcelona and Madrid). Our ATM card is from our local university credit union. With our Camino Frances coming up next spring, we are planning to get a second ATM card from a major institution, such as Schwab or BofA.

 

[Anniesantiago]

If you are a couple, it's worth getting TWO Schwab cards or a joint account (so you get TWO cards).
This way you can either 1) transfer cash from one account to the other or 2) use the other card if one gets eaten.

You can also open more than one Schwab account - so I usually have one personal account and one "Camino" account. I keep the bulk of my cash in the personal account "just in case" my card is stolen.

It's simple to transfer cash from one card to the other online.
A click of the keyboard and the cash is transferred.

Schwab will only give you one card per account unless it is a joint account.
But I have never had my card denied except when I've pushed the wrong account button, such as "savings" instead of "checking."
When I pushed the other account button, out came my cash!

 

[ricitosdeplata]

Do you need to have an investment account with schwab also?

 

[Roamin' Rob]

Do you need to have an investment account with schwab also?

I don't think so. Call them.

 

[Mike Savage]

Do you need to have an investment account with schwab also?

Yes but the balance can be zero. I have a Charles Schwab account which includes Investment and Checking. My Investment balance is zero and I have a positive balance in checking. No fees.

 

[Anniesantiago]

What Mike said.

 

[ricitosdeplata]

Thanks for clarifying that @Mike Savage and @Anniesantiago. I had been to the Schwab website and wondered if I was reading the requirements correctly. Thought maybe there were some high rollers on this forum!

Btw also read recently that a PayPal debit card charges only 1 % fee and $1.50 per withdrawal. Looks like it has some drawbacks with deposit delays and possible refusal of deposits by PayPal to other accounts.