Money on Camino....

[JBrad]

excited for my first Camino beginning next Th from Pamplona!
would like help on deciding about money on Camino?
what is better Visa, MasterCard, or Amex?
how much euros is good to have to begin with?
how to get more $ if/when needed?

 

[Anniesantiago]

For me, Visa works best.
Hardly anyone will take American Express - leave it home!

I never take euros with me.
I get them out of the airport ATM when I arrive.
I take out about 200-300 euros and when I'm down to maybe 40, get more.
ATMs work just like the ones at home.
Just BE SURE TO ALERT YOUR BANK that you will be in France and Spain or they will LOCK your account!

 

[jdpiguet]

Hello JBrad,

The best is still the old good cash.
Not too much, but around 3-4 times your daily budget.
ATM's are quite common.
The problem is that your card provider will tax you every time you use one.
Use the search function to get more information about which card is the cheapest...

Buen Camino, Jacques-D.

 

[Icacos]

Suggest you take two debit cards with you, as not all ATMs accept all debit cards. Also, I believe the ATMs in Spain require a 4-digit code, so be prepared. Buen Camino!

 

[calillega]

For me, Visa works best.
Hardly anyone will take American Express - leave it home!

I never take euros with me.
I get them out of the airport ATM when I arrive.
I take out about 200-300 euros and when I'm down to maybe 40, get more.
ATMs work just like the ones at home.
Just BE SURE TO ALERT YOUR BANK that you will be in France and Spain or they will LOCK your account!

excited for my first Camino beginning next Th from Pamplona!
would like help on deciding about money on Camino?
what is better Visa, MasterCard, or Amex?
how much euros is good to have to begin with?
how to get more $ if/when needed?

I have had luck with Visa and Mastercard. But watch out for the foreign transaction fees that many cards charge; it adds up! It also helps to have a card with chip technology if possible. Buen Camino!

 

[november_moon]

Visa and Mastercard seem to be accepted everywhere that accepts credit cards - AMEX hardly ever. But yes, cash is still king. I would plan to use cash for most expenses - alberques, restaurants, bars, taxi, etc. If you stay at a hotel, buy some equipment in a sports shop, or something like that, then a credit card is usually fine.

Use your ATM/debit card to get cash from ATM machines. I always carry 2 ATM cards with me - one as a primary, one as a back up. In Spain a couple weeks ago, my primary card wouldn't work when I arrived, so I used my secondary card and it was fine. A couple days later, I tried my primary card in another ATM and it worked just fine. Who knows what the deal was. I've also had an experience where neither of my cards would work, so I tried an ATM at another bank and they both worked just fine.

Don't worry about if your card has a magnetic strip or a chip and PIN - the only place it really matters is with unmanned kiosks, like if you were to want to buy a train ticket from a machine. Most US credit cards which have a chip are chip and signature cards anyway, so you still need to sign the slip.

 

[Icacos]

...... In Spain a couple weeks ago, my primary card wouldn't work when I arrived, so I used my secondary card and it was fine. A couple days later, I tried my primary card in another ATM and it worked just fine. ...... I've also had an experience where neither of my cards would work, so I tried an ATM at another bank and they both worked just fine .

A very patient clerk at my bank explained this to me. Those little logos at the back of your debit cards actually do mean something.

 

[Seabird]

There are several major credit card companies that issue cards without foreign transaction fees. I have one from Capital One and one from Chase. Neither of them charge a yearly fee. But I agree that it's always best to use cash when possible, especially in smaller towns. If you use a credit card, do not let the merchant use "dynamic conversion." In other words, make sure the transaction is in Euros, not in dollars. You will get a much better conversion rate by the credit card company than by the merchant.

 

[dougfitz]

I have used Visa and American Express without problems, but as already mentioned, AMEX is limited. It was okay in larger towns and cities, but not elsewhere. I would withdraw about what I thought would be enough cash to last me a week. The only time this didn't work smoothly was at Los Arcos, where I wanted to withdraw cash on Easter Tuesday, and the ATM had run out of cash over the long Easter weekend. I had to wait a little while until the bank staff replenished the machine before I could make a withdrawal.

 

[november_moon]

A very patient clerk at my bank explained this to me. Those little logos at the back of your debit cards actually do mean something.

Yes, I realize that A little logo mismatch wasn't the problem.

 

[naplesdon]

There are several major credit card companies that issue cards without foreign transaction fees. I have one from Capital One and one from Chase. Neither of them charge a yearly fee. But I agree that it's always best to use cash when possible, especially in smaller towns. If you use a credit card, do not let the merchant use "dynamic conversion." In other words, make sure the transaction is in Euros, not in dollars. You will get a much better conversion rate by the credit card company than by the merchant.

A warning, there are no credit card companies that offer anything for "free." Sorry!
Having lived in France for the past 5 years with both French and an American debit cards (which I rarely used), I can tell you taking money out of your checking account is the least expensive way to make an ATM transaction. I have no clue what "dynamic conversion" means but I would always be happy dealing with the daily conversion rate. You will always get "screwed" by about 3 to 4 centimes.

 

[aghamore]

It's always handy to have folding money. Quite a few places won't take cards for bed or food. Obviously, carrying large amounts of cash has its dangers, especially in airports ,bus and train stations and accommodation. Using ATMs can be expensive so keeping their use to a minimum makes sense.

I try to keep a stock of cash and use cards for bigger things. Ordering cash online before you leave home is certainly cheaper in the UK so it probably is elsewhere. As mentioned above, tell your card issuers that you're going to use you card abroad. I once forgot ,the ATM swallowed it and I couldn't get a new one until I got home.

It's increasingly rare to have problems using Visa or Mastercard in Europe where businesses have machines but it does happen. The big banks' ATMs have always worked on my debit card and always in English, if I wanted it.

 

[Seabird]

A warning, there are no credit card companies that offer anything for "free." Sorry!
Having lived in France for the past 5 years with both French and an American debit cards (which I rarely used), I can tell you taking money out of your checking account is the least expensive way to make an ATM transaction. I have no clue what "dynamic conversion" means but I would always be happy dealing with the daily conversion rate. You will always get "screwed" by about 3 to 4 centimes.

Oh, I would never use a credit card to take out cash from an ATM. You are charged interest immediately. I would always use a bank card to get cash. I was referring to using a credit card in a shop or a restaurant. Some merchants want to make the currency conversion for you, and you should never agree.

 

[Anemone del Camino]

Suggest you take two debit cards with you, as not all ATMs accept all debit cards. Also, I believe the ATMs in Spain require a 4-digit code, so be prepared. Buen Camino!

I second Icacos, 2 cards or refill while you still have 2 days worth of money on hand or are about to enter a largest town. For some reason there are banos who so not like my ATM, even if it is 4 digits and maesto compatible. Glad I learned this when already in Santiago. I buy my first lot of € here at hime because there's this currently exchange place that has unbeleivable rates, so much so that if it wasn't because they have been in business for 20 plus years I would think they were laundering money.

 

[Anemone del Camino]

A very patient clerk at my bank explained this to me. Those little logos at the back of your debit cards actually do mean something.

Maestro is supposed to be the gold standard when it comes to compatibilty, looks like the Master Card sign but all in blue. And yet it has been known to fail me.

 

[Anemone del Camino]

There are several major credit card companies that issue cards without foreign transaction fees. I have one from Capital One and one from Chase. Neither of them charge a yearly fee. But I agree that it's always best to use cash when possible, especially in smaller towns. If you use a credit card, do not let the merchant use "dynamic conversion." In other words, make sure the transaction is in Euros, not in dollars. You will get a much better conversion rate by the credit card company than by the merchant.

I kept wondering about the exchange rate when we get to pick. Do you exemples of the difference in ratés depending on the option chosen?

 

[Anemone del Camino]

A warning, there are no credit card companies that offer anything for "free." Sorry!
Having lived in France for the past 5 years with both French and an American debit cards (which I rarely used), I can tell you taking money out of your checking account is the least expensive way to make an ATM transaction. I have no clue what "dynamic conversion" means but I would always be happy dealing with the daily conversion rate. You will always get "screwed" by about 3 to 4 centimes.

@biarritzdon , you're back! Good for us! Nice to read you.

 

[Saint Mike II]

With previous experience of Spain in 2013 - for my last Camino I took a MC Debit card - loaded with Euros as well as my home bank MC debit card and the usual back-ups a MC Credit Card and the AMEX card. No problems withdrawing cash with either of the first two cards. MC Credit Card accepted in all large towns etc. However the Futball Shop in Madrid declined to accept the AMEX card - most surprising. So to some up - cash for all the albergues and small shops/cafes. Buen Camino

 

[JBrad]

You all are amazingly helpful! Thank you so much!!!

 

[Urban Trekker]

excited for my first Camino beginning next Th from Pamplona!
would like help on deciding about money on Camino?
what is better Visa, MasterCard, or Amex?
how much euros is good to have to begin with?
how to get more $ if/when needed?

Get money at arriving airport. Use BANK TELLER MACHINES. Use debit cards to get cash. Use credit cards when you can't use cash. They don't do cash back on credit card purchases in Europe. Be sure to notify your cards holders of when and where on your trip or you will get locked out by your card holders. I advise to get more cash when down to 100€. USE BANK TELLER MACHINES. Stash pictures/photo copies of cards in case of loss or theft. Same applies to your passport and other important papers. Buen Camino

Happy Trails

P.S. Did I mention USE BANK TELLER MACHINES for cash withdrawals whenever possible?

 

[SabsP]

And when at ATM machine go when the bank is open. The ATM will be inside and you can always ask the bank clerks to give you a hand if something goes wrong.

 

[Anniesantiago]

Hello JBrad,

The best is still the old good cash.
Not too much, but around 3-4 times your daily budget.
ATM's are quite common.
The problem is that your card provider will tax you every time you use one.
Use the search function to get more information about which card is the cheapest...

Buen Camino, Jacques-D.

I used Charles Schwab Bank - it is an online bank with a very stable, long history.
They reimburse ALL ATM and other fees, including foreign exchange fees at the end of each month.
I've never had an issue using it.
You might want to put your travel cash in a Charles Schwab account, separate from your everyday account.

 

[Anniesantiago]

I agree that AMEX is only accepted in larger cities or at three star and above hotels, but I bring mine mainly for emergencies. Their card services are second to none. If for some reason you need to immediately return home, one call to them has you on the next available flight and a car service at your door to get you to the airport. If you are sick or injured it's nice to be able to get everything arranged in a matter of few minutes with one call.

Two years ago I took an AMEX and there was not one time anybody would accept it.
It costs the merchants too much.
I wouldn't bother carrying one again, myself - although I just read your post again and your example is one reason it might be a good idea.

I got stuck in Spain a couple of years ago when my sister in law died, but I wouldn't have been able to go home anyway because the cost of the flight home was CRAZY expensive!

 

[Leah C. O'Leary]

I used Charles Schwab Bank - it is an online bank with a very stable, long history.
They reimburse ALL ATM and other fees, including foreign exchange fees at the end of each month.
I've never had an issue using it.
You might want to put your travel cash in a Charles Schwab account, separate from your everyday account.

I got the recommendation of the Charles Schwab debit account - excellent - that's what I would recommend.

 

[zzotte]

I agree with Annie with Charles Schwab debit its no fees period

Zzotte

 

[grayland]

It may be useful to know that the phrase ATM will not be recognized in Spain (or most of Europe).....so if asking someone for the location of a cash machine, you will have to use something else to describe what you are looking for.....much like "WeeFee" for "WiFi".

I use a combination of "Caja automatico" or "Caja dinero" while showing them my debit card. It usually works.
"ATM" will draw blank looks.

 

[Peter Fransiscus]

excited for my first Camino beginning next Th from Pamplona!
would like help on deciding about money on Camino?
what is better Visa, MasterCard, or Amex?
how much euros is good to have to begin with?
how to get more $ if/when needed?

Hi, I'm from the Netherlands I use my bankcard. I can use it at any bank I want.
I have around 200/300 € on me.
This works fine for me.
Wish you well and a Buen Camino, Peter.

 

[november_moon]

I have no clue what "dynamic conversion" means but I would always be happy dealing with the daily conversion rate.

Dynamic Currency Conversion is simply when a merchant charges you in your home currency instead of the local currency, in which case the merchant gets to choose the exchange rate. Merchants will very often use an exchange rate favorable to themselves, not you. When you are charged in the local currency, the exchange rate to your home currency is simply the interbank rate (plus any markup charged by your bank for the conversion). This is almost always a better deal for you.

 

[Gabe]

excited for my first Camino beginning next Th from Pamplona!
would like help on deciding about money on Camino?
what is better Visa, MasterCard, or Amex?
how much euros is good to have to begin with?
how to get more $ if/when needed?

I lived in Spain for 2 years (I am from USA) and walked the Camino. Amex is useless in Spain, especially on the Camino. Visa is best.
I kept about 150 euros on me and then hit ATM's in the bigger cities which worked out fine. ATMs are everywhere and easily accessible. It is almost impossible to avoid fees (believe me I tried in so many ways) so just accept them as part of the journey. Also, this probably is only a personal experience but it seemed Unicaja (as Spanish Bank) worked well for me but most others do to Buen Camino!

 

[shubertj]

I used Charles Schwab Bank - it is an online bank with a very stable, long history.
They reimburse ALL ATM and other fees, including foreign exchange fees at the end of each month.
I've never had an issue using it.
You might want to put your travel cash in a Charles Schwab account, separate from your everyday account.

Totally agree with the Schwab Visa Chase Card no fees and great exchange rates used in Spain France and Portugal. I didn't want another card but was very pleased with it.

 

[Meg Worland]

excited for my first Camino beginning next Th from Pamplona!
would like help on deciding about money on Camino?
what is better Visa, MasterCard, or Amex?
how much euros is good to have to begin with?
how to get more $ if/when needed?

I usually withdrew 200AUD at ATM's. I was with a Californian one day who used the same ATM and he was unable to withdraw 400USD. We thought at first it was his card not working there, then he re-tried at the lesser amount and was successful.

 

[Seabird]

I kept wondering about the exchange rate when we get to pick. Do you exemples of the difference in ratés depending on the option chosen?

No, I don't have specific examples. But there's no reason for a merchant to give you the most favorable rate. Your credit card company is using the interbank rate, which is about the best you can do.

 

[Anemone del Camino]

No, I don't have specific examples. But there's no reason for a merchant to give you the most favorable rate. Your credit card company is using the interbank rate, which is about the best you can do.

Seabird, isn't the credtit the one charging me no matter what curreny I click on? How the merchamt making more or less money on these transactions?

 

[Seabird]

Seabird, isn't the credtit the one charging me no matter what curreny I click on? How the merchamt making more or less money on these transactions?

The merchant is reimbursed by the amount you actually pay. Let's say you buy a 100 euro item. If you are charged in euros, at the interbank rate that might be around $110 when it appears on your credit card bill. The merchant would still be reimbursed only for the actual charge 100 euros (less a fee, of course).

If you decided to be charged in dollars, the local rate might be $1.15 for one euro. You will then be charged for $115. And the merchant would still be reimbursed at the interbank rate of 1.10 dollars per euro, and will receive approximately 104.54 euros ($115 divided by 1.10 dollars per euro = 104.54 euros), for an extra profit of 4.54 euros (less a fee).

So, it is always best to be charged in the local currency if you can't use cash.

 

[spursfan]

The merchant is reimbursed by the amount you actually pay. Let's say you buy a 100 euro item. If you are charged in euros, at the interbank rate that might be around $110 when it appears on your credit card bill. The merchant would still be reimbursed only for the actual charge 100 euros (less a fee, of course).

If you decided to be charged in dollars, the local rate might be $1.15 for one euro. You will then be charged for $115. And the merchant would still be reimbursed at the interbank rate of 1.10 dollars per euro, and will receive approximately 104.54 euros ($115 divided by 1.10 dollars per euro = 104.54 euros), for an extra profit of 4.54 euros (less a fee).

So, it is always best to be charged in the local currency if you can't use cash.

I think it's called dynamic currency conversion - where you are offered the choice to have your card billed in your home currency when abroad - the rate given will be in favour of the merchant bank so do not accept this choice - always choose to be billed in local currency

 

[Bajaracer]

Always choose the home currency of the country you are visiting.

https://transferwise.com/blog/2012-...utm_source=Skimbit,+Ltd.&utm_medium=affiliate

 

[Anemone del Camino]

Very interesting, will read the link with a lot of interest, so I don't have to pay it

 

[newgabe]

I ran into trouble 2 years ago in Spain using an Visa card, issued by my bank in Australia, that I'd used in a dozen countries- suddenly wouldn't be accepted. It took me hours of Skype calls to my bank and various Visa offices itself till someone in USA office told me that the problem was that the card's ultimate issue was Citibank.. I ended up having to find an actual branch of Citibank (luckily I was in a large city that had one- and was staying with a friend with internet, or I'd have been on the street with no money and no idea what the problem was. Hearing that ATM whirr and spit the cash out made me very happy

 

[Islandjoe]

excited for my first Camino beginning next Th from Pamplona!
would like help on deciding about money on Camino?
what is better Visa, MasterCard, or Amex?
how much euros is good to have to begin with?
how to get more $ if/when needed?

My experience fall 2014 was to carry 4 days cash needs in euros. If you don't then you risk fussing over where is the next machine every few days. I did have to borrow 20 euros a couple times from a new friend … not a great idea but they were gracious. Also note that many machines don't have english so learn some spanish bank words so you push the right button !!

 

[vegoodrich]

I just returned last Wednesday and used only cash for 95% of my Camino trip. I had informed the bank of my travels and had no problems getting out euros once I arrived in France. Interesting to note is that although I had informed the visa company of my travels, the one time I used the visa in France the bank called to ensure it was not fraud. It was good that I had forwarded my phone calls to my husbands number (he was at home).

I think cash is the easiest way along the camino and cash machines are available in the bigger towns.

Buen camino!!

 

[Rohit I]

Hi
Visa and Mastercard are good options.American Express is hardly accepted. You can also try money transfer services like Moneygram, Transferwise and InstaReM