Collecting a list of cash-machine / bank ATM fees in Spain

[Ungawawa]

Can people please post below their cash machine usage charge costs from experience / currently from the camino? I'm talking about the Spanish ATM on-the-spot usage fees, that are charged regardless of your home bank. The ones they ask you to confirm at the end before giving you the money.

If you have gone on the camino in the last year or two, you may have noticed that banks now vary greatly in their fees to use cash machines. These fees are additional to the percentage and foreign-use fees that your bank will probably charge you. They can range from zero to some cents to €5. - that could be an additional 3-5% on your average withdrawal!

I would like to collect details on which banks charge what to put in a PDF or image for this forum that you can carry on your phone.

Please, real-life recent charges only, because these fees have changed within the last year.

I'll start this off below and copy any submissions into the top same post.

 

[Ungawawa]

Deleted at request of OP. Please refer to:

https://www.caminodesantiago.me/community/resources/spanish-atm-cash-machine-fee-cheat-sheet.749/

 

[Portia1]

Our bank reimburses atm fees but encouraged us to only use atms at banks.

 

[Pilgy]

Might I add that I heard of lots of pilgrims having difficulties accessing or getting cards back from some interac machines. However I NEVER heard of this happening with Santander and used them with 100% success throughout Spain and Portugal for a total of 9 weeks.. Paying 1.87 euros was a small price to pay for the reliability of the system in my opinion. Also, you don't need to make a huge number of withdrawals really along the camino unless you're going through a lot of cash and repeatedly taking out amounts of say less than 300 E. Another tip, try to take money out of any ATM during opening bank hours in case the card DOES get locked inside. the machine for some reason.

 

[Ungawawa]

Also, you don't need to make a huge number of withdrawals really along the camino unless you're going through a lot of cash and repeatedly taking out amounts of say less than 300 E.

That's exactly what I and many other pilgrims do do, @Pilgy - My UK home bank limits the amount you can withdraw in one day to the equivalent of about £200.

Having the bank open when your card gets eaten doesn't help unfortunately. The bank staff aren't authorised to open the machines up and return cards. Learnt this the hard way in Sweden and Germany!

 

[sunwanderer]

My UK home bank limits the amount you can withdraw in one day to the equivalent of about £200.

We use a second bank for travel that has much higher withdrawal limits than our main bank. It also charges no foreign transaction fees, and reimburses ATM fees.

 

[Albertagirl]

That's exactly what I and many other pilgrims do do, @Pilgy - My UK home bank limits the amount you can withdraw in one day to the equivalent of about £200.

Having the bank open when your card gets eaten doesn't help unfortunately. The bank staff aren't authorised to open the machines up and return cards. Learnt this the hard way in Sweden and Germany!

This is not always the case in Spain. My first attempted withdrawal from a Spanish ATM was in Pamplona, at a bank which I passed along the camino when walking out of town. Judging by the advertisements posted for farm machinery, this may have been a local version of a farm co-op. I was given no money and my bank card was kept by the machine. This was a few minutes before the bank opened in the morning. When it opened, I told the staff what had just happened and the manager retrieved my card and returned it to me. This was near the beginning of my first camino in 2015, so the situation may have changed since. Like @Pilgy I gradually came to use Bank Santander almost exclusively. As the biggest bank in Spain, I found many branches, and I never had a problem making withdrawals, aside from always being given large bills and having to wait inside to get them changed to small denomination bills more easy to spend in albergues. I will happily spend 1.87 euros for reliable service. And I make relatively few cash withdrawals during my time in Spain, as I always withdraw 300 euros each time.
I do caution pilgrims to be sure to remove your card from the machine as soon as it reappears after your withdrawal, as the machine may be set up to consume the card if not withdrawn within a very short time. This is presumably to avoid a card being taken by a passerby when it has been forgotten in the machine. This is not something which happened to me in Spain, but it happened recently to my companion in Mexico, who was engaged in counting his cash when the card disappeared. This seemed to both of us to be a logical thing to do when first receiving foreign currency. The bank staff told him that the machine was designed to destroy cards which were not removed within a short time. I do not know if this happens in Spain, but it is worth being warned about. Since then, I have decided to keep a larger amount of money in a second Canadian bank account, to be drawn on in case my card for one account is eaten and I do not find it convenient to replace it while in Spain.

 

[Pilgy]

That's exactly what I and many other pilgrims do do, @Pilgy - My UK home bank limits the amount you can withdraw in one day to the equivalent of about £200.

Having the bank open when your card gets eaten doesn't help unfortunately. The bank staff aren't authorised to open the machines up and return cards. Learnt this the hard way in Sweden and Germany!

Oh that's really helpful to know and sort of makes sense! I would hope though that they could help problem solve the situation.

This is not always the case in Spain. My first attempted withdrawal from a Spanish ATM was in Pamplona, at a bank which I passed along the camino when walking out of town. Judging by the advertisements posted for farm machinery, this may have been a local version of a farm co-op. I was given no money and my bank card was kept by the machine. This was a few minutes before the bank opened in the morning. When it opened, I told the staff what had just happened and the manager retrieved my card and returned it to me. This was near the beginning of my first camino in 2015, so the situation may have changed since. Like @Pilgy I gradually came to use Bank Santander almost exclusively. As the biggest bank in Spain, I found many branches, and I never had a problem making withdrawals, aside from always being given large bills and having to wait inside to get them changed to small denomination bills more easy to spend in albergues. I will happily spend 1.87 euros for reliable service. And I make relatively few cash withdrawals during my time in Spain, as I always withdraw 300 euros each time.
I do caution pilgrims to be sure to remove your card from the machine as soon as it reappears after your withdrawal, as the machine may be set up to consume the card if not withdrawn within a very short time. This is presumably to avoid a card being taken by a passerby when it has been forgotten in the machine. This is not something which happened to me in Spain, but it happened recently to my companion in Mexico, who was engaged in counting his cash when the card disappeared. This seemed to both of us to be a logical thing to do when first receiving foreign currency. The bank staff told him that the machine was designed to destroy cards which were not removed within a short time. I do not know if this happens in Spain, but it is worth being warned about. Since then, I have decided to keep a larger amount of money in a second Canadian bank account, to be drawn on in case my card for one account is eaten and I do not find it convenient to replace it while in Spain.

Yes I had a friend experience the "card eating" year ago in Portomarin after needing to re-read the screen several times because of poor lighting. You really have to have our wits about you and stay very focused!

 

[Ungawawa]

Some useful tips there, thanks! Having your bank card eaten abroad is always a nightmare.

Is anyone able add to my list of known bank fees?

My idea is that with a complete list pilgrims will be able to google the banks near them and pick the one which is cheapest, without having to try them all out one by one. Remember, quite a few of the banks will only tell you at the end that they'll charge you 5 euros!

 

[Delphinoula]

I used a preloaded credit card and I withdrew after figuring out the right pin with no problem. I was weary of loosing my cards and so to limit the amount that could get lost. It did not happened. Maybe your bank offers something similar?
Another idea Santander operates in the Uk and in Spain maybe they can offer you something with no withdraw costs?

 

[Ungawawa]

@Delphinoula , thanks - my bank, Metro Bank, does already offer commission-free withdrawals. It's the only one in the UK that does. Interesting idea about Santander. I wonder...

This topic is about the Spanish-imposed fees, which can't be avoided. I want to put together a comprehensive list of fees for all the pilgrims so when we have to use the ATMs, we don't end up paying the maximum 5 euros each time

 

[Rick of Rick and Peg]

Here is a webpage in Spanish entitled "Entérate de la comisión que cobrará cada banco por sacar dinero fuera de su red de cajeros" that lists ATM fees. The page was created on March 22, 2016.

http://www.rtve.es/noticias/2016032...car-dinero-fuera-su-red-cajeros/1279981.shtml

Also see this chart: http://www.rtve.es/noticias/20160322/comision-cobraran-bancos-sacar-dinero-cajeros/1280034.shtml

 

[Delphinoula]

Is there not an EU Law where the Bank must state how much the will charge and you have to agree with it before the transaction if finalized. I will be on the Camino in April ang keep my eyes open.
Thank you for doing this.

 

[Ungawawa]

Here is a webpage in Spanish entitled "Entérate de la comisión que cobrará cada banco por sacar dinero fuera de su red de cajeros" that lists ATM fees. The page was created on March 22, 2016.

http://www.rtve.es/noticias/2016032...car-dinero-fuera-su-red-cajeros/1279981.shtml

Also see this chart: http://www.rtve.es/noticias/20160322/comision-cobraran-bancos-sacar-dinero-cajeros/1280034.shtml

Thanks Rick. That's certainly a very good fallback list, though I've experienced charges different to those on some banks on my last camino. I suspect the fees have been raised in the last couple of years, and / or they are different for foreign bank cards. That's why I'm interested in collecting real camino experiences here from other poor pilgrims with foreign bank cards

 

[Ungawawa]

Is there not an EU Law where the Bank must state how much the will charge and you have to agree with it before the transaction if finalized. I will be on the Camino in April ang keep my eyes open.
Thank you for doing this.

Yes, they always tell you, but often only at the end when you've typed everything in! It would be great to know in advance which banks to avoid to save yourself going round town searching for a free one, if you're as much a skinflint as me ;-)

 

[Albertagirl]

Yes, they always tell you, but often only at the end when you've typed everything in! It would be great to know in advance which banks to avoid to save yourself going round town searching for a free one, if you're as much a skinflint as me ;-)

It seems to me that on one occasion the ATM at a Bank Santander offered me a pair of alternate charges to choose from. But I did not understand the choice, although one may have been a flat charge and the other a percentage. In any case, I made my guess and finished my entry. Only when done did I realize that I had, unwittingly, made the more expensive choice.

 

[Ungawawa]

It seems to me that on one occasion the ATM at a Bank Santander offered me a pair of alternate charges to choose from. But I did not understand the choice, although one may have been a flat charge and the other a percentage. In any case, I made my guess and finished my entry. Only when done did I realize that I had, unwittingly, made the more expensive choice.

Yes, I know what you mean. There was a Link or a Maestro system choice, I seem to recall. I also don't know which one was the cheaper!

 

[shubertj]

Schwab debit card reimburses all fees. Also agree Bank Santander worked best for us on 6 caminos.

 

[Ungawawa]

Schwab debit card reimburses all fees. Also agree Bank Santander worked best for us on 6 caminos.

Santander used to charge € 1.87 but asked € 5 euros last time I went there, unless my memory deceives me. This puts them in the "no way" list for me now!

 

[Annette london]

Can people please post below their cash machine usage charge costs from experience / currently from the camino? I'm talking about the Spanish ATM usage fees, that are charged regardless of your home bank.

If you have gone on the camino in the last year or two, you may have noticed that banks now vary greatly in their fees to use cash machines. These fees are additional to the percentage and foreign-use fees that your bank will probably charge you. They can range from zero to some cents to €5. - that could be an additional 3-5% on your average withdrawl!

I would like to collect details on which banks charge what to put in a PDF or image for this forum that you can carry on your phone.

Please, real-life recent charges only, because these fees have changed within the last year.

I'll start this off below and copy any submissions into the top same post.

It really depends on who you bank with......I think that different banks have different terms and conditions

I bank with Santander and have a Santander Debit Card so I do not pay any charges whatsoever when withdrawing money from an ATM ...this is peculiar to Spain only though as Santander is a Spanish bank

In other countries I would pay charges
However I do pay charges if I PAY at a hotel using the same debit card

So for this reason, I have a ZERO credit card from Santander so I pay for hotels etc with this card
However I do NOT withdraw any cash from an ATM with this credit card
Hope this helps
Annette

 

[shubertj]

Santander used to charge € 1.87 but asked € 5 euros last time I went there, unless my memory deceives me. This puts them in the "no way" list for me now!

H Richards you are correct I went back and looked at my 8 transactions from last year and was charged 5 Euros for each but the fees of $47.50 were reimbursed from Schwab.

 

[trecile]

Many ATMs will ask you if you want to be charged in Euros or your home currency. Always choose Euros! Otherwise you will be the victim of dynamic currency conversion, which benefits the bank, not you. The same goes when you are paying for something with your credit or debit card.


https://transferwise.com/us/blog/choose-local-currency-at-foreign-atm

 

[Ungawawa]

H Richards you are correct I went back and looked at my 8 transactions from last year and was charged 5 Euros for each but the fees of $47.50 were reimbursed from Schwab.

Fantastic - thanks for confirming. That'll go for sure in the list now

 

[Ungawawa]

It really depends on who you bank with......I think that different banks have different terms and conditions

I bank with Santander and have a Santander Debit Card so I do not pay any charges whatsoever when withdrawing money from an ATM ...this is peculiar to Spain only though as Santander is a Spanish bank

In other countries I would pay charges
However I do pay charges if I PAY at a hotel using the same debit card

Thanks Annette. The fees come from two different sources - your home bank and the Spanish bank. The Spanish fees are the ones that the machine asks you if you are okay with paying just before spitting out the cash.

I'm just trying to collect these Spanish bank fees together as they seem to be one fixed rate, regardless of your home bank or country. The UK Santander debit card sounds like it would be a special exception to these fees.

 

[Ungawawa]

Can anyone on the Camino or from the last year confirm what Abanca charges foreign cards?

 

[Ungawawa]

Also, has anyone found any other fee-free banks, like the wonderful Liberbank, which came to my rescue many times on the Norte?!

 

[Martyduc]

Also, has anyone found any other fee-free banks, like the wonderful Liberbank, which came to my rescue many times on the Norte?!

I have found that most of the small banks with the word rural in their name dont charge a fee !!

 

[shubertj]

Also, has anyone found any other fee-free banks, like the wonderful Liberbank, which came to my rescue many times on the Norte?!

H Richards its not just about the local Bank ATM charges but also what credit or debit card you have. You need a card that has no ATM charges , no foreign transaction fees and in the case of Schwab reimburse any local bank charges. Santander Bank also gives one of the best exchange rates of all Spanish banks the few Euros you might save can get chewed up quickly with 3-5% higher exchange rate. A 1% exchange rate difference on 300 Euros will cost you 3Euros.

 

[Ungawawa]

H Richards its not just about the local Bank ATM charges but also what credit or debit card you have. You need a card that has no ATM charges , no foreign transaction fees and in the case of Schwab reimburse any local bank charges. Santander Bank also gives one of the best exchange rates of all Spanish banks the few Euros you might save can get chewed up quickly with 3-5% higher exchange rate. A 1% exchange rate difference on 300 Euros will cost you more than 4 Euros.

The exchange rate you get when you ask to withdraw in Euros is set by Interbank and the same across the whole Visa or Mastercard network, so it won't differ from bank to bank in Spain. The scenario you're describing wouldn't happen unless you chose to be billed in a foreign currency and let the ATM convert for you. (As @trecile says, never a good idea!)

 

[TMcA]

Lengthy discussion at this thread:

https://www.caminodesantiago.me/community/threads/atm-charges.55460/#post-621055

 

[Ungawawa]

Lengthy discussion at this thread:

https://www.caminodesantiago.me/community/threads/atm-charges.55460/#post-621055

Cheers, another confirmation about Santander charging 5 Euros. That Schwab account does sound good, but it's not possible for us non-Americans.

I'm still interested in getting recent confirmations for Caixa and Abanca. Memory tells me Caixa wanted quite a high fee too (5?) but I'd rather hear from someone who has tried this, than rely on my memory.

 

[Martyduc]

H Richards its not just about the local Bank ATM charges but also what credit or debit card you have. You need a card that has no ATM charges , no foreign transaction fees and in the case of Schwab reimburse any local bank charges. Santander Bank also gives one of the best exchange rates of all Spanish banks the few Euros you might save can get chewed up quickly with 3-5% higher exchange rate. A 1% exchange rate difference on 300 Euros will cost you 3Euros.

Oh ,,and using a Travel Card so currency already in Euros !!

 

[Ungawawa]

This from the Bank of America website, which should hopefully clear up the scare about getting worse rates from different banks, which isn't the case:

Who sets the exchange rates for foreign ATM withdrawals with my Bank of America ATM card and for international purchases with my Bank of America credit and debit cards?
The exchange rate for international purchases and foreign ATM transactions is set by Visa® or MasterCard®, depending on your card's logo. This exchange rate is either the wholesale market rate or a government-mandated rate on the day before the date the transaction is processed. The processing date may differ from the date of the transaction.

foreign-exchange-rates-faq

Foreign Exchange Rate FAQ from Bank of America

www.bankofamerica.com

 

[BoyRoger]

Also, has anyone found any other fee-free banks, like the wonderful Liberbank, which came to my rescue many times on the Norte?!

Try Revolut, I just load it up with my cash before I go, I may have been lucky but I never paid a fee, commision or ATM fees in three caminos. Not available in the US last time I checked, I'm in UK.

 

[Bluedog]

Great info. Thanks!

 

[Anna Cameron]

Cheers, another confirmation about Santander charging 5 Euros. That Schwab account does sound good, but it's not possible for us non-Americans.

I'm still interested in getting recent confirmations for Caixa and Abanca. Memory tells me Caixa wanted quite a high fee too (5?) but I'd rather hear from someone who has tried this, than rely on my memory.

In Aug- Oct 2018, in France and Spain, regardless of the Banco or Banque, I was charged €5 on ALL withdrawals. I primarily used a Chase (US) bank debit card but also used a debit card from my Australian bank (I live in Adelaide but have family in USA). In France, you don't get the message about the ATM fee, but you get charged! In Pamplona, I asked about these fees at the helpful Tourist Bureau and the man I spoke to there suggested I try one of the International bank ATMs, CitiBank or Deutschebank. I tried both, and both showed the message about €5 fee (so I cancelled the transactions). In Navarrette, I went into the local Santander bank to get an explanation- a lovely young woman who had been an exchange student in Adelaide was so apologetic, but told me, it was becoming the norm for this fee to be charged. I did try other Spanish banks but the fee was ALWAYS charged. I learned to carry much more cash than I would normally. I haven't let myself total up the fees, if I did, I might be too afraid to plan my next Camino.

 

[Jeff Crawley]

I use a Halifax Clarity credit card when out of the UK for both purchases and cash withdrawls - hope this helps:





Whereas when I used my Debit card last October (forgot what I was doing!) I got charged 2.99% for the foreign currency transaction and £1.50 for the cash withdrawal - (Banco Popula in SdC)

 

[firstshirt]

We use a second bank for travel that has much higher withdrawal limits than our main bank. It also charges no foreign transaction fees, and reimburses ATM fees.

Plus one on this. I have an account at a bank here in the states expressly for the purpose of using ATMs all over the world. They reimburse (put the money back into my checking account) regardless of location or charge. Once the charge was not in evidence so they estimated the amount! Now that is service lol.

 

[trecile]

Plus one on this. I have an account at a bank here in the states expressly for the purpose of using ATMs all over the world. They reimburse (put the money back into my checking account) regardless of location or charge. Once the charge was not in evidence so they estimated the amount! Now that is service lol.

Would that be a Charles Schwab account?

 

[Deleted member 67185]

This from the Bank of America website, which should hopefully clear up the scare about getting worse rates from different banks, which isn't the case:

Who sets the exchange rates for foreign ATM withdrawals with my Bank of America ATM card and for international purchases with my Bank of America credit and debit cards?
The exchange rate for international purchases and foreign ATM transactions is set by Visa® or MasterCard®, depending on your card's logo. This exchange rate is either the wholesale market rate or a government-mandated rate on the day before the date the transaction is processed. The processing date may differ from the date of the transaction.

foreign-exchange-rates-faq

Foreign Exchange Rate FAQ from Bank of America

www.bankofamerica.com

You are correct. The thing that can vary is how much can be charged up to the maximum set by mandate. Banks or ATMs can charge up TO that rate, but they can choose to charge LESS than the maximum. So the trick for those without an account which reimburses fees and rates, is to find the best rate below the maximum.

 

[firstshirt]

Would that be a Charles Schwab account?

No, actually just one of our local banks in Maine.

 

[Deleted member 67185]

Would that be a Charles Schwab account?

That was my first thought as well.

 

[Ungawawa]

You are correct. The thing that can vary is how much can be charged up to the maximum set by mandate. Banks or ATMs can charge up TO that rate, but they can choose to charge LESS than the maximum. So the trick for those without an account which reimburses fees and rates, is to find the best rate below the maximum.

Are we talking rates here or fees? It's the list of fees I'm collecting here, and the fees which I understand vary from bank to bank. They are free to charge between zero and five euros per withdrawl. I've not seen any variation in exchange rates of foreign banks though. Bear in mind, I'm also talking about the foreign banks rates and not the home-bank rates, who also normally slap on about 2%.

 

[Ungawawa]

Plus one on this. I have an account at a bank here in the states expressly for the purpose of using ATMs all over the world. They reimburse (put the money back into my checking account) regardless of location or charge. Once the charge was not in evidence so they estimated the amount! Now that is service lol.

Cheers Jeff. This £1.50 charge. Was it levied by Halifax after, or was it mentioned on the cash machine at the time of withdrawal?

 

[Ungawawa]

In Aug- Oct 2018, in France and Spain, regardless of the Banco or Banque, I was charged €5 on ALL withdrawals. I primarily used a Chase (US) bank debit card but also used a debit card from my Australian bank (I live in Adelaide but have family in USA). In France, you don't get the message about the ATM fee, but you get charged! In Pamplona, I asked about these fees at the helpful Tourist Bureau and the man I spoke to there suggested I try one of the International bank ATMs, CitiBank or Deutschebank. I tried both, and both showed the message about €5 fee (so I cancelled the transactions). In Navarrette, I went into the local Santander bank to get an explanation- a lovely young woman who had been an exchange student in Adelaide was so apologetic, but told me, it was becoming the norm for this fee to be charged. I did try other Spanish banks but the fee was ALWAYS charged. I learned to carry much more cash than I would normally. I haven't let myself total up the fees, if I did, I might be too afraid to plan my next Camino.

Ouch - 5 euros each time. What bad luck! It's certainly quite likely that if you picked banks entirely at random you could get stung like this for the majority of your withdrawals. This is why I'm putting together a list of banks of no-fee and low-fee cash machines, so we don't end up giving in total the price of a decent night in a hotel away to the banks for nothing. It all adds up!

 

[Jeff Crawley]

Cheers Jeff. This £1.50 charge. Was it levied by Halifax after, or was it mentioned on the cash machine at the time of withdrawal?

By Halifax on my statement. No longer have the receipt from the ATM but can't remember a charge on it.

 

[Anna Cameron]

Ouch - 5 euros each time. What bad luck! It's certainly quite likely that if you picked banks entirely at random you could get stung like this for the majority of your withdrawals. This is why I'm putting together a list of banks of no-fee and low-fee cash machines, so we don't end up giving in total the price of a decent night in a hotel away to the banks for nothing. It all adds up!

I guess after the first few withdrawals, from "random" ATMs, I WAS trying to pick more carefully and avoid banks which charged the fees, but that was the problem- I never found any which didn't! Even foreign banks like Citibank applied the charge - seems to be a revenue-raising practice. Your list will be great, but be aware: I was told that it was up to the particular local bank agency, whether they applied the charge or not. I just could not find ANY who didn't. As I said, when I discussed this with Spaniards (other pilgrims or in tourist bureaus or info centres) they were unaware of the practice and were shocked..

 

[Kanga]

My bank reimburses all ATM charges and uses the daily Visa exchange rate for currency conversion. It’s a debit card, not a credit card. There are a few conditions attached; I have to make a certain number of deposits and withdrawals every month. But I do that anyway.

 

[Ungawawa]

I guess after the first few withdrawals, from "random" ATMs, I WAS trying to pick more carefully and avoid banks which charged the fees, but that was the problem- I never found any which didn't! Even foreign banks like Citibank applied the charge - seems to be a revenue-raising practice. Your list will be great, but be aware: I was told that it was up to the particular local bank agency, whether they applied the charge or not. I just could not find ANY who didn't. As I said, when I discussed this with Spaniards (other pilgrims or in tourist bureaus or info centres) they were unaware of the practice and were shocked..

I hear you. Liberbank and iberCaja certainly don't charge fees. That confirmed from my last camino three months ago. The bad news is they're localised, and you won't find them the whole length of the Camino. The second-best I've found were ones like BBVA and Abanca that just charge a small fee.

5 Euros is becoming the standard though for the large national banks. The more people who go along with it, the more the banks will think it's ok :/

 

[Deleted member 67185]

My bank reimburses all ATM charges and uses the daily Visa exchange rate for currency conversion. It’s a debit card, not a credit card. There are a few conditions attached; I have to make a certain number of deposits and withdrawals every month. But I do that anyway.

Is yours a Schwab account?

 

[Kanga]

@davebugg no - I think you have to be in the US to have one of those. I did try to open an account with Schwab a few years ago when I heard about this benefit, but I could not as I'm in Australia. I know that the conditions of banks vary from country to country. Mine is ING but my friends from Germany who also have an ING account do not get the same benefits as me. I don't think there is any shortcut to doing one's own research unfortunately!

 

[trecile]

@davebugg no - I think you have to be in the US to have one of those. I did try to open an account with Schwab a few years ago when I heard about this benefit, but I could not as I'm in Australia. I know that the conditions of banks vary from country to country. Mine is ING but my friends from Germany who also have an ING account do not get the same benefits as me. I don't think there is any shortcut to doing one's own research unfortunately!

Maybe we should have a thread of bank accounts to have by country.

 

[Deleted member 67185]

Maybe we should have a thread of bank accounts to have by country.

THAT makes a lot of sense.

 

[trecile]

I've started the thread

https://www.caminodesantiago.me/community/threads/best-bank-accounts-for-travel-by-country.60557/

 

[Anna Cameron]

Just to mention again, that the 5€ withdrawal fee was also charged in France (but no message alerting about the fee), at ATMs in SJPP, Lyon, Toulon and Arles. Crédit Lyonnais and BNP from memory, but I'll bet they all do it, seems to be an easy way to revenue-raise. I am going to talk about it with US and Aus banks, but I am skeptical that there is any way to avoid the fees, since they are charged at the discretion of the local agencies.

 

[lissie45]

H Richards you are correct I went back and looked at my 8 transactions from last year and was charged 5 Euros for each but the fees of $47.50 were reimbursed from Schwab.

Only for Americans and maybe Canadians as far as I know. The best you'll get from a NZ banks is a euro5 fee per a transaction plus a 2.2% currency loading. Plus whatever you pay at the front end with the ATM - which is NOT refunded .

I more and more carry quite a lot of cash with me - will be looking for a bank in Pamplona to exchange NZ$s

 

[Ungawawa]

Just to mention again, that the 5€ withdrawal fee was also charged in France (but no message alerting about the fee), at ATMs in SJPP, Lyon, Toulon and Arles. Crédit Lyonnais and BNP from memory, but I'll bet they all do it, seems to be an easy way to revenue-raise. I am going to talk about it with US and Aus banks, but I am skeptical that there is any way to avoid the fees, since they are charged at the discretion of the local agencies.

The fees in Spain are regulated by Spanish law, I believe. They made a change in 2015 and the fees have been phased in since then. They do have to warn you beforehand there. I can't talk about France, but I can reassure you that it is possible to find a few banks in Spain which don't impose these fees, as I did it only three months ago. They're not always the first banks you find though. They tend to be smaller or local banks. You can't avoid any percentage your own bank imposes though. These are separate issues.

 

[Ungawawa]

Still looking for someone to confirm what the on-the-spot ATM fees for Caixa Bank and Abanca are..

Can anyone answer this with their own recent experience in Spain?

Big thanks in advance !!!

 

[Vacajoe]

A solitary Deutschbank ATM in Leon had ZERO fees - shocked to see that chain there since I hadn’t seen one the entire Camino. My German friend matter-of-factly replied to my amazement of the free withdrawal with, “of course it’s free, the German bank does not need your money”...

 

[Ungawawa]

A solitary Deutschbank ATM in Leon had ZERO fees - shocked to see that chain there since I hadn’t seen one the entire Camino. My German friend matter-of-factly replied to my amazement of the free withdrawal with, “of course it’s free, the German bank does not need your money”...

Nice ! That was recently?
I've added it to the list

 

[Vacajoe]

Yes, May 2018! You are surprised I actually have a friend?

 

[Ungawawa]

Yes, May 2018! You are surprised I actually have a friend?

hehe not at all!

 

[Donna Sch]

Re cards getting eaten, a number of machines now have a tap and go option.

 

[mguillen]

Can people please post below their cash machine usage charge costs from experience / currently from the camino? I'm talking about the Spanish ATM on-the-spot usage fees, that are charged regardless of your home bank. The ones they ask you to confirm at the end before giving you the money.

If you have gone on the camino in the last year or two, you may have noticed that banks now vary greatly in their fees to use cash machines. These fees are additional to the percentage and foreign-use fees that your bank will probably charge you. They can range from zero to some cents to €5. - that could be an additional 3-5% on your average withdrawal!

I would like to collect details on which banks charge what to put in a PDF or image for this forum that you can carry on your phone.

Please, real-life recent charges only, because these fees have changed within the last year.

I'll start this off below and copy any submissions into the top same post.

I have yet to go but have read on the forum that it is best to go inside the bank on fridays. You avoid problems including extra possible fees. That’s what we will be doing.

 

[Kathar1na]

[Last week, I withdrew small amounts of money from four ATMs in Spain. Withdrawal was made by debit card, issued by a non-Spanish ING bank from the eurozone. Here are the ATM withdrawal fees I was charged:

BBVA: €1.87
Caixa: no fee
Sabadell: €1.80
Santander: €2.00

 

[Kathar1na]

Withdrawal fee according to the General Conditions (see links) of the Spanish bank who owns the ATM:

Santander (as of 9.6.2018). If your card is issued by a bank in:

• a € country or Sweden or Romania: €2.00
• any other country: €5.00

CaixaBank (as of 1.8.2016). If your card is issued by a bank in:

• a EU country: not indicated. Was FREE for me in April 2019
• a non-EU country: €5.00

Banco Popular (as of 31.12.2018). If your card is issued by a bank in:

• a € country or Sweden or Romania: €2.00
• any other country: €5.00

Bankia (as of 2.11.2018). If your card is issued by a bank in:

• any country: €1.75

BBVA (as of 15.12.2017). If your card is issued by a bank in:

• a EU country: €1.87
• any other country: €3.00

Note that your own bank can also charge a fee for withdrawal at an ATM abroad. This is separate from currency conversions fees etc. Always say no to Dynamic Currency Conversion (DCC).

 

[mguillen]

Here is a webpage in Spanish entitled "Entérate de la comisión que cobrará cada banco por sacar dinero fuera de su red de cajeros" that lists ATM fees. The page was created on March 22, 2016.

http://www.rtve.es/noticias/2016032...car-dinero-fuera-su-red-cajeros/1279981.shtml

Also see this chart: http://www.rtve.es/noticias/20160322/comision-cobraran-bancos-sacar-dinero-cajeros/1280034.shtml

Helpful. Thx.

 

[Kathar1na]

Whereas when I used my Debit card last October (forgot what I was doing!) I got charged 2.99% for the foreign currency transaction and £1.50 for the cash withdrawal - (Banco Popular in SdC)

It's worth pointing out that £1.50 was charged by Halifax as Foreign currency cash fee which they charge when you use your debit card to make a transaction in a currency other than pounds and not by Banco Popular who is the owner of the ATM.

This example and my own example show that the amount that you pay for ATM withdrawal alone can not only depend on the Spanish bank who owns the ATM but also on your own bank.

About 99,9% of forum members will be charged the same (often high) ATM withdrawal fees as they all are from USA, CAN, AUS, NZ or SA, ie from non-EU countries and non-€-zone countries.

 

[Ungawawa]

Last week, I withdrew small amounts of money from four ATMs in Spain. Where an ATM withdrawal fee was charged, it was displayed and I was asked whether I wanted to continue. Withdrawal was made by debit card, issued by a non-Spanish ING bank. Here are the results:

BBVA: €1.87
Caixa: no fee
Sabadell: €1.80
Santander: €2.00

That Caixa did not charge me anything, surprises me. I've checked both the withdrawal slip and my bank account statements. No ATM withdrawal fee for me.

This is great information, thank you. Exactly what I'm looking for. I'll update the post at the top with the info!

 

[Ungawawa]

Last week, I withdrew small amounts of money from four ATMs in Spain. Where an ATM withdrawal fee was charged, it was displayed and I was asked whether I wanted to continue. Withdrawal was made by debit card, issued by a non-Spanish ING bank. Here are the results:

BBVA: €1.87
Caixa: no fee
Sabadell: €1.80
Santander: €2.00

That Caixa did not charge me anything, surprises me. I've checked both the withdrawal slip and my bank account statements. No ATM withdrawal fee for me.

Really strange that the official Caixa info said 2 euro fee but your experience was no-fee.
Sometimes they bundle the fee in the total amount withdrawn, instead of listing separately. It wasn't there either?

 

[Kathar1na]

Really strange that the official Caixa info said 2 euro fee but your experience was no-fee.
Sometimes the bundle the fee in the total amount withdrawn, instead of listing separately. It wasn't there either?

Nope. The cash machine gave me €30 and €30 were debited to my bank account. There are no conversion fees or other transaction fees as my debit card is issued by a bank in a eurozone country.

 

[Ungawawa]

Nope. The cash machine gave me €30 and €30 were debited to my bank account. There are no conversion fees or other transaction fees as my debit card is issued by a bank in a eurozone country.

If you are not a customer with the Spanish bank that operates the ATM, there appear to be three or even more different categories of fees for ATM withdrawal:

• for holders of a card issued by another Spanish bank
• for holders of a card issued by a eurozone bank
• for holders of a card issued by a EU bank
• in a few cases it matters to which "red" (network) the two banks (ATM bank and issuer bank) belong
• for all others

Brilliant! I'll have to test this out for myself when I head to the Camino later this Spring. Thank you!

 

[Kathar1na]

Brilliant! I'll have to test this out for myself when I head to the Camino later this Spring. Thank you!

@H Richards, I have to thank you. It turned out to be an unexpectedly interesting topic. I've never paid much attention to ATM withdrawal fees when abroad but do now. I know a bit more about these business models and their great variety. Within Europe, withdrawal fees charged by the ATM bank are apparently common in Germany and Spain. In France, the ATM withdrawal fees are disloyalty fees and are actually charged by the card issuing bank, at least for domestic customers.

 

[Ungawawa]

@H Richards, I have to thank you. It turned out to be an unexpectedly interesting topic. For starters, I've never paid much attention to ATM withdrawal fees when abroad. I do now. And I now know a bit more about these business models and the immense variety between countries. Apparently, and currently, withdrawal fees charged by the ATM bank are common mainly in Germany and Spain. In France, mentioned in this thread, the fees are disloyalty fees and they are actually charged by the card issuing bank, at least for domestic customers. I must remember to make some ATM withdrawals the next time I'm in France.

True, although these "disloyalty" fees I've found don't apply to foreign customers in Germany. I guess you can't be disloyal when your home bank isn't even available in that country. It does lead to the funny situation though that my German friends got charged to use their cards in other German banks, and I could choose freely with my UK card!

 

[Ungawawa]

@H Richards, I have to thank you. It turned out to be an unexpectedly interesting topic.

Yes, I just got fed up of banks trying to take 5 euros from me each time to get at my own money. I'd usually only take 100-150 out each time, so that could potentially represent an extra 5% fee. Then I found the wonderful Liberbank and my life changed ;-) My goal here is to have a list of alternative cash machines we can all use instead with a little planning, and avoid paying what in my eyes is just a type of extortion to access your own money!

 

[Ungawawa]

@Kathar1na - is there any chance you could direct your skills towards testing Abanca? I'm sure they're fairly cheap too, as witnessed by my continual use of them on my last camino, but I can't for the life of me find any more of the slips to check.

 

[Kathar1na]

Abanca? I'm sure they're fairly cheap too, as witnessed by my continual use of them on my last camino, but I can't for the life of me find any more of the slips to check.

I regret that I didn't include them in my test series last week as there were plenty of Abanca ATMs around. Abanca belongs to the Euro 6000 network, together with IberCaja and Liberbank, both of whom are listed as "no fees" earlier in this thread and if I had to venture a guess I'd say no fee or €0.65 ... I will be watching this thread with continued interest .

 

[Ungawawa]

However, Abanca belongs to the Euro 6000 network, together with IberCaja and Liberbank, both of whom are listed as "no fees" earlier in this thread and if I had to venture a guess I'd say no fee or €0.65 ... I will be watching this thread with continued interest .

Very interesting idea. Google says Euro 6000 includes BBK (Kutxabank); Unicaja, Caixa Ontinyent; Caixa Pollença; Ibercaja; Liberbank; BMN; Abanca; Cecabank; Caja España-Duero, and Cajasur.

I wonder if ALL these banks are fee-free? Of course most of these are very localised banks, so not necessarily useful for pilgrims.

 

[Telboyo]

Some useful tips there, thanks! Having your bank card eaten abroad is always a nightmare.

Is anyone able add to my list of known bank fees?

My idea is that with a complete list pilgrims will be able to google the banks near them and pick the one which is cheapest, without having to try them all out one by one. Remember, quite a few of the banks will only tell you at the end that they'll charge you 5 euros!

To avoid problems with machines eating cards or being rejected by certain banks I carry 5 cards with me, stashed in various pockets or my rucksac. My main card is a revolut contactless multi currency card. The contactless element cannot be used if it is not In the same location as the phone, it is also linked to my Google pay account along with my NatWest and First direct cards. I also have a Weswap contactless card with a euro balance. As a final resort I have a credit card for use in dire emergencies. As a security measure I keep small balances on the contactless cards only transfering money from alternate accounts as needed. If I lose a contactless card my exposure is minimised. This behaviour is not limited to the Camino but is my usual banking habit.

 

[Anniesantiago]

Open an online Charles Schwab bank account and ALL of your fees will be returned at the end of each month. I've used them for years on the Camino and LOVE them.
I never get a robot - always a human - and their customer service is awesome.

 

[Anna Cameron]

@H Richards, I have to thank you. It turned out to be an unexpectedly interesting topic. For starters, I've never paid much attention to ATM withdrawal fees when abroad. I do now. And I now know a bit more about these business models and the immense variety between countries. Apparently, and currently, withdrawal fees charged by the ATM bank are common mainly in Germany and Spain - within Europe that is. In France, mentioned in this thread, the ATM withdrawal fees are disloyalty fees and they are actually charged by the card issuing bank, at least for domestic customers. I must remember to make some ATM withdrawals the next time I'm in France.

Sorry to report that ATM withdrawal fees were DEFINITELY charged in France last year, but I wasn't initially aware because there was no warning notice or option to cancel the transaction as occurs with Spanish ATM's. I was using US (Chase Bank) or Australian debit cards and was charged €3.50 from Paribas/BNP ATM's in St Jean Pied de Port and later, €5 from Credit Agricole ATM in Arles. Charges showed up later on my statement. Also, was charged €5 ATM fee by Deutsche bank in Pamplona (I had been told by Tourist Bureau that Deutsche bank wouldn't apply the ATM fee, but they were wrong: I saw the usual warning but had to proceed 'cause I was broke). I gave up fighting it then, but if there are alternatives for my next Camino, I will be glad - thanks for this thread.

 

[Deleted member 67185]

Open an online Charles Schwab bank account and ALL of your fees will be returned at the end of each month. I've used them for years on the Camino and LOVE them.
I never get a robot - always a human - and their customer service is awesome.

A big two thumbs up

I don't care what a bank charges for fees for ATM services. All I care about is if I lose money because of such fees. As long as my end of month statement shows no loss due to fees, I'm happy. Charles Schwab debit cards make me happy when traveling on Camino.

 

[Kathar1na]

Sorry to report that ATM withdrawal fees were DEFINITELY charged in France last year, but I wasn't initially aware because there was no warning notice or option to cancel the transaction as occurs with Spanish ATM's. I was using US (Chase Bank) or Australian debit cards and was charged €3.50 from Paribas/BNP ATM's in St Jean Pied de Port and later, €5 from Credit Agricole ATM in Arles. Charges showed up later on my statement. Also, was charged €5 ATM fee by Deutsche bank in Pamplona (I had been told by Tourist Bureau that Deutsche bank wouldn't apply the ATM fee, but they were wrong: I saw the usual warning but had to proceed 'cause I was broke). I gave up fighting it then, but if there are alternatives for my next Camino, I will be glad - thanks for this thread.

@Anna Cameron, I don‘t doubt for a moment that you were charged a fee for getting money from an ATM in France with a US or an Australian card and I guess it doesn‘t really matter whether it is an ATM withdrawal fee or a disloyalty fee or a service fee or whatever they call it - you have to pay the fee to get your money.

It is also interesting to learn that you had to pay a €5 withdrawal fee when getting money from a Deutsche Bank ATM in Pamplona although you were told otherwise by the Tourist Bureau. This is what I was trying to say earlier: it often makes a difference whether your card was issued in a country of the euro zone or a country of the EU or a country of the EEA or a country outside of Europe. Or whether your own bank is a partner bank of the Spanish bank to whom the ATM belongs. In other words, the ATM withdrawal fee can be €5 or €2 or nothing at the same ATM, depending on the country where your own bank is located.

And, generally speaking, I think this thread tries to address the concerns or curiosity of those who cannot open a Charles Schwab account .

 

[Kathar1na]

It's difficult to find the rates of the ATM fees that Spanish banks charge to foreign users while there is plenty of such information for domestic (Spanish) users. I have found a thread on askaboutmoney.com (Irish consumer forum) where people are more clear and more specific than usually about what they did where and when . I'll post a summary in the next message. It's probably safe to say that:

• people from a country outside of Europe are more likely than not to be charged €5 for ATM withdrawal at a cash machine in Spain. You will be told the exact fee before you confirm the transaction and you can abort.
• people from eurozone countries are most likely to be charged the same amount as Spanish ATM users who are not a client of the bank who owns the ATM in question. Range is €0-€2.
• there doesn't seem to be a general rule for people from EU countries that do not belong to the eurozone such as the UK.

 

[Kathar1na]

Recent reports (2018 or 2019) of ATM withdrawal fees in Spain, listed by bank, fee, and country of card issuing bank where known. Reports by the same user are grouped together.

Sabadell - €1.80 - eurozone country

Santander - €1.80 - Ireland
Bankia - €1.80 - Ireland
Caja Rural - FREE - Ireland

Unicaja - FREE - unknown

Caixa - FREE - EU country (unknown whether in eurozone)

Banco Popular - €5.00 (UK)
Santander - €5.00 (UK)

Santander - €5.00 (UK)
Bankia - €1.75 (UK)
Cajasiete - FREE - (UK)

Santander - €1.80 - Ireland
Abanca - €0.80 - Ireland
Caixa - FREE - Ireland
BBVA - €1.87 - Ireland

Sabadell - €1.80 - Ireland
BBVA - €1.87 - Ireland

BBVA - €1.87 - Philippines
Banco Popular - €5.00 - Philippines

One person reported that the same bank charged 5 eurocents less at an ATM in a shopping mall than elsewhere. Several eurozone people reported €1.80 for Santander while I was recently charged €2.00 so there may even be slight variations within a small range for the same category.

 

[Ungawawa]

Recent reports (2018 or 2019) of ATM withdrawal fees in Spain, listed by bank, fee, and country of card issuing bank where known. Reports by the same user are grouped together.

Sabadell - €1.80 - eurozone country

Santander - €1.80 - Ireland
Bankia - €1.80 - Ireland
Caja Rural - FREE - Ireland

Unicaja - FREE - unknown

Caixa - FREE - EU country (unknown whether in eurozone)

Banco Popular - €5.00 (UK)
Santander - €5.00 (UK)

Santander - €5.00 (UK)
Bankia - €1.75 (UK)
Cajasiete - FREE - (UK)

Santander - €1.80 - Ireland
Abanca - €0.80 - Ireland
Caixa - FREE - Ireland
BBVA - €1.87 - Ireland

Sabadell - €1.80 - Ireland
BBVA - €1.87 - Ireland

BBVA - €1.87 - Philippines
Banco Popular - €5.00 - Philippines

One person reported that the same bank charged 5 eurocents less at an ATM in a shopping mall than elsewhere. Several eurozone people reported €1.80 for Santander while I was recently charged €2.00 so there may even be slight variations within a small range for the same category.

That's brilliant, Katharina. Thank you. All this tallies with my recent (November and July) experiences in Spain. It seems the UK doesn't always get the cheaper EU prices. I'm pretty certain Caixa and Santander tried to charge me €5, and I remember Abanca as being less than a euro.

Despite the list of fees showing otherwise, the majority of my ATM visits still tried to charge me €5. There was a marked difference between fees in 2017 and 2018, so many of the banks have either started or raised their fees in this year.

Looking for banks to use, there wasn't always a free ATM about, but almost always a Abanca or BBVA, which was an acceptable back-up. Pilgrims walking the Norte will have more luck finding the free banks than ones on the Frances. There's Liberbanks along most of the Norte. Having said that, I found for instance an iberCaja in Najera so you just have to be prepared to ask and hunt around a bit ;-)

I've updated the list at the top of the post again with this info and prettified / colour-coded it a bit more too

 

[Ungawawa]

Open an online Charles Schwab bank account and ALL of your fees will be returned at the end of each month. I've used them for years on the Camino and LOVE them.
I never get a robot - always a human - and their customer service is awesome.

That's only an option for the Americans on this forum, unfortunately. The rest just have to be careful which ATMs we use!

 

[Anniesantiago]

That's only an option for the Americans on this forum, unfortunately. The rest just have to be careful which ATMs we use!

That is not true at all. I just spoke with Schwab and anybody can apply for an account.

You can go to this link:

Schwab referral promo awards up to $500 bonus | Charles Schwab

Get up to $500 bonus award when referred by a Charles Schwab client. Become a new Schwab client today.

www.schwab.com

You can also call if you prefer:
Schwab Global Team at 877-686-1937 (US Toll-free) +1 415-667-8400 (International Direct Dial).

These accounts are brokerage accounts that include checking and savings accounts.
You don't have to put much in the brokerage account to open it - $20 or with this link, I think they give you $100. Then you open the checking account and get your ATM card. They reimburse ALL of my fees once a month. I love it. Plus I always get a human being when I call or chat. Great customer service.

 

[Ungawawa]

That is not true at all. I just spoke with Schwab and anybody can apply for an account.

You can go to this link:

Schwab referral promo awards up to $500 bonus | Charles Schwab

Get up to $500 bonus award when referred by a Charles Schwab client. Become a new Schwab client today.

www.schwab.com

You can also call if you prefer:
Schwab Global Team at 877-686-1937 (US Toll-free) +1 415-667-8400 (International Direct Dial).

These accounts are brokerage accounts that include checking and savings accounts.
You don't have to put much in the brokerage account to open it - $20 or with this link, I think they give you $100. Then you open the checking account and get your ATM card. They reimburse ALL of my fees once a month. I love it. Plus I always get a human being when I call or chat. Great customer service.

Hmm... the problem here, I suspect, is that to fill up the US account with money from your own country also incurs an international transaction fee (like SWIFT). So you'd convert your money to US dollars to send it to Schwab at a cost, and then back into Euros again when you take it out. I can't say for sure, but this doesn't seem like it would be financially efficient.

At one time recently I also had a German and a UK current account at the same time, and the German bank would regularly pester me for all kinds of tax declarations because I was living in the UK, until I got so fed up of all the documents they wanted from me, I just closed it!

This is, of course, just speculation. Has anyone from outside the USA opened and successfully (ie. totally fee and tax free) used one of these accounts?

 

[Anniesantiago]

Hmm... the problem here, I suspect, is that to fill up the US account with money from your own country also incurs an international transaction fee (like SWIFT). So you'd convert your money to US dollars to send it to Schwab, and then back into Euros again when you take it out. I can't say for sure, but this doesn't seem like it would be financially efficient.

At one time recently I also had a German and a UK current account at the same time, and the German bank would regularly pester me for all kinds of tax declarations because I was living in the UK, until I got so fed up of all the documents they wanted from me, I just closed it!

This is, of course, just speculation. Has anyone from outside the USA opened and successfully (ie. totally fee and tax free) used one of these accounts?

Did you call and speak with them?
Or are you assuming (suspecting) this is how it goes?

 

[Ungawawa]

Did you call and speak with them?
Or are you assuming (suspecting) this is how it goes?

I'm assuming, but are you saying it's not so? How else can you get european currencies into a US bank account than by a paid transfer and conversion?

 

[Anniesantiago]

I'm assuming, but are you saying it's not so? How else can you get european currencies into a US bank account than by a paid transfer and conversion?

It is an international bank.
If you need more information, I've given you a toll free number and a direct dial number.
They can answer all your questions.
I have no idea how it works, only that I have friends who do not live in the USA who have accounts.

 

[Ungawawa]

It is an international bank.
If you need more information, I've given you a toll free number and a direct dial number.
They can answer all your questions.
I have no idea how it works, only that I have friends who do not live in the USA who have accounts.

Cool, I'd love to hear from anyone who's made that work. I won't try it myself as my combination of fee-free Metro Bank and being careful which ATMs I use is good enough for my minimal Camino purposes

 

[Kathar1na]

I've read numerous times on the forum that people had to pay a €5 ATM withdrawal fee in Spain. It's only thanks to @H Richards and this thread that I learnt that this doesn't apply to me as a resident in the eurozone, that I will not have to pay more than €2 maximum and I know now the names of a number of banks that will charge me less or nothing at all. All things useful to know for the next trip to Spain.

I've read about the advantages of Charles Schwab accounts numerous times on the forum. It has no advantage for me. @H Richards has already given reasons, there are others. But curious as I am, I went to the website to see how to open such a no-ATM-fee checking account, linked to a Schwab One® brokerage account.

The first thing I'm told is that I have to provide a U.S. permanent resident address (All account holders must be either U.S. citizens or U.S. resident aliens, reside in the U.S. or one of its territories, and provide a U.S. mailing address) and a Social Security Number or Tax Identification Number. I don't have any of this. They send me to their global site. There are special websites for people living in Hong Kong, in Australia or in Singapore, Malaysia, or Thailand. That's not me. I opt for UK. It will be so easy to open the account, they tell me. I just need to fill in an application form and a U.S. IRS Form W-8BEN for non-U.S. citizen/resident Account Holder (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting). Hm, would I want to do this?

I venture on to Step 3 - Fund your account. Minimum to open: A minimum of US$ 25,000 is required to open a Schwab One International account. Please contact Schwab for details. Account can be funded by check or money order or wire transfer.



This is what the Camino can teach us although, in my limited experience, it doesn't do it very often: the world can look quite different when seen through the eyes of people from other countries.

 

[Ungawawa]

I venture on to Step 3 - Fund your account. Minimum to open: A minimum of US$ 25,000 is required to open a Schwab One International account. Please contact Schwab for details. Account can be funded by check or money order or wire transfer.



This is what the Camino can teach us although, in my limited experience, it doesn't do it very often: the world can look quite different when seen through the eyes of people from other countries.

Lol, well, frankly if you don't have $25k to put towards the camino, then I just won't take you seriously as a pilgrim ^^

In fairness to @Anniesantiago, she never said that it was any good for non-rich UK residents, just that she had some foreign friends who'd got an account too.

 

[Albertagirl]

I've read numerous times on the forum that people had to pay a €5 ATM withdrawal fee in Spain. It's only thanks to @H Richards and this thread that I learnt that this doesn't apply to me as a resident in the eurozone, that I will not have to pay more than €2 maximum and I know now the names of a number of banks that will charge me less or nothing at all. All things useful to know for the next trip to Spain.

I've read about the advantages of Charles Schwab accounts numerous times on the forum. It has no advantage for me. @H Richards has already given reasons, there are others. But curious as I am, I went to the website to see how to open such a no-ATM-fee checking account, linked to a Schwab One® brokerage account.

The first thing I'm told is that I have to provide a U.S. permanent resident address (All account holders must be either U.S. citizens or U.S. resident aliens, reside in the U.S. or one of its territories, and provide a U.S. mailing address) and a Social Security Number or Tax Identification Number. I don't have any of this. They send me to their global site. There are special websites for people living in Hong Kong, in Australia or in Singapore, Malaysia, or Thailand. That's not me. I opt for UK. It will be so easy to open the account, they tell me. I just need to fill in an application form and a U.S. IRS Form W-8BEN for non-U.S. citizen/resident Account Holder (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting). Hm, would I want to do this?

I venture on to Step 3 - Fund your account. Minimum to open: A minimum of US$ 25,000 is required to open a Schwab One International account. Please contact Schwab for details. Account can be funded by check or money order or wire transfer.



This is what the Camino can teach us although, in my limited experience, it doesn't do it very often: the world can look quite different when seen through the eyes of people from other countries.

@Kathar1na
Thanks for doing this. I started the process then had to go out. As a Canadian, I had a suspicion that there would be some condition related to paying US taxes, as this has become well known in Canada over the last few years. I think that I shall keep my investments in Canada and pay whatever I am charged to make bank withdrawals in Spain. It is really not so much, when I calculate the number of withdrawals, at 300 euros each, that I have to make to pay for a month or two on camino in Spain, costing me about 30 euros a day.

 

[Ungawawa]

@Kathar1na
Thanks for doing this. I started the process then had to go out. As a Canadian, I had a suspicion that there would be some condition related to paying US taxes, as this has become well known in Canada over the last few years. I think that I shall keep my investments in Canada and pay whatever I am charged to make bank withdrawals in Spain. It is really not so much, when I calculate the number of withdrawals, at 300 euros each, that I have to make to pay for a month or two on camino in Spain, costing me about 30 euros a day.

Yes, and pick from the green or yellow banks in the list and your whole fees shouldn't total more than 10 euros for the whole camino

 

[Albertagirl]

Yes, and pick from the green or yellow banks in the list and your whole fees shouldn't total more than 10 euros for the whole camino

@H Richards
I hope that this is accurate, but I still have two questions: Do the fees, or lack of fees, listed for the green or yellow banks apply when Canadian bank cards are being used to make withdrawals? Are there sufficient banks on these two lists available to make withdrawals on the less traveled caminos, for example, the Madrid and the Invierno, which I plan to walk this year? I may test the first question by making a withdrawal from one of the banks on the list when I am in Madrid, before I begin walking my camino. But there is nothing I can do if the banks listed are unavailable when I am walking and need their services. This is not a huge issue for me. I would much rather use a Bank Santander ATM, if I am in need of cash and that is all that is available, rather than let myself run out of cash.

 

[Ungawawa]

@H Richards
I hope that this is accurate, but I still have two questions: Do the fees, or lack of fees, listed for the green or yellow banks apply when Canadian bank cards are being used to make withdrawals? Are there sufficient banks on these two lists available to make withdrawals on the less traveled caminos, for example, the Madrid and the Invierno, which I plan to walk this year? I may test the first question by making a withdrawal from one of the banks on the list when I am in Madrid, before I begin walking my camino. But there is nothing I can do if the banks listed are unavailable when I am walking and need their services. This is not a huge issue for me. I would much rather use a Bank Santander ATM, if I am in need of cash and that is all that is available, rather than let myself run out of cash.

Actually the less travelled caminos have more of the cheaper banks than the Frances. But to answer your question about the Canadian bank cards, I just don't know. If you can test some of the banks on the list and report back, it would be a huge help. I'm hoping we don't have to make two separate lists for European and N American pilgrims!

There are many Liberbanks in Madrid, so why don't you test with them. I've found them to be the most reliable on past caminos.


What you'll probably find is that you won't always be able to find one of the free banks like Liberbank, but you will almost always be able to find a BBVA or Abanca, and they're only a little bit more expensive.

 

[Kathar1na]

my combination of fee-free Metro Bank and being careful which ATMs I use is good enough for my minimal Camino purposes

The stuff I now know about ATM withdrawal in Europe. For example that your UK Metro Bank card is better for ATM withdrawals in Spain than a UK Halifax card. Metro will not charge a cash fee for ATM withdrawal in Europe and a fee of £1.50 elsewhere abroad while Halifax will charge a cash fee of £1.50 for any ATM withdrawal abroad. So that's £1.50 in addition to any Spanish ATM withdrawal fee, see Best debit cards to use abroad on consumer website Which.

Is it allowed to say that I feel a little bit smug about our dear old € zone ? We are often no longer aware of the advantages for the small consumer's pocket.

I sometimes walk with a UK bank card holder so all this information is doubly useful. I usually don't pay much attention to this stuff, I'm just happy to have found an ATM on my way when I need new cash but I would certainly not be averse walking a bit about to avoid a €5 ATM fee.